Business planning for 2009?

Planning for your business can be a daunting task. We think the trick is to keep it simple and suggest a streamlined, 3 step plan. The basics are summarised below, see what you think…

Step 1: Know your red flag areas.
OK this might not be the most positive way to begin think about your business, but taking action before a crisis arises is much better than reacting under stressful circumstances. So – where are your red flag areas? Cashflow, turnover, running costs, staffing issues…? Whatever they are, have a good honest look at where these potential stumbling blocks lie and structure goals for the year ahead that include heading these off before they get too big for you to manage.

Step 2: Articulate your goals.
Goals are the end point of your plan. They also determine the direction you want your business to move. If your goals are going to drive your planning you need to first articulate these and make sure each is Specific, Measureable, Attainable, Relevant and Timely.

Step 3: Develop a written plan.
With your goals and risks in mind, you can now shape a plan. This should be in a format you are comfortable with, can revisit and refer to, add to and importantly, print out and see. Generally, we start with an overview (2-3 paragraphs) of where the business is now and where we want it to be. We then follow this with a month by month breakdown of the year ahead, plotting first the goals we want to achieve, followed by the actions that are going to get us there.

No-one is saying it’s going to be easy, but by simplifying your initial approach, you can certainly reduce the stress. The most important thing is to get you off the starting blocks. Reemember: your plan should be a living document that you can revisit and add to throughout the year.

For more detailed advice, there's lots of advice online and in print, but try these references for starters:

http://www.dummies.com/ - for Business Planning for Dummies, from this series of books that offer an accessible approach to everything

http://www.businessballs.com/ - offers free templates and advice

http://www.bytestart.co.uk/ - this small business portal, offers tips for planning and much more

If you have advice to share or questions to ask, please add your comments below.