Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Business Planning - the process

1,138 views

Published on

Strategically analyze your business. Find out what your strengths, weaknesses, opportunities and threats are. Increase your strengths, minimize your weaknesses, exploit your opportunities and avoid the threats. Check out: http://www.business-plan.co.za

Published in: Self Improvement, Business
  • Be the first to comment

  • Be the first to like this

Business Planning - the process

  1. 1. Business Planning - The Process SWOT AnalysisBusiness Planning The Process
  2. 2. Business Planning - The Process SWOT Analysis Strategically analyze your business. Find out what your strengths, weaknesses, opportunities and threats are. Increase your strengths, minimize your weaknesses, exploit your opportunities and avoid the threats. Click hereThe ability to set and implement a business plan is a key skill of goodleadership. A business plan determines EVERYTHING that happens toand in a business. To a large extent it determines the level ofexcellence that can be reached.To start the business planning process you have to develop a vision,mission, and values statement and do a complete internal andexternal evaluation of where your business, or planned business,stands.Your Vision, Mission and Values, should be written for both youpersonally and for your business. You should refer to them regularlyto help you focus on what you believe in, where you want to gopersonally and where you want your business to go. Your personaland business statements combined become your business culturewhich will be significant as you go forward and build your business.
  3. 3. Business Planning - The Process SWOT AnalysisOnce you have your Vision, Mission and Values statement in place andhave completed your internal and external evaluation, the next step isto put together a SWOT Analysis for your business (SWOT=Strengths, Weaknesses, Opportunities, Threats). You have to do somereal soul searching on this and put the information on paper ashonestly and in as much detail as you can.With the SWOT analysis complete your next step is to define yourgoals and objectives.Goals are the next step down from the Vision. Vision is the bigpicture. Goals are generally short term (1,3,6, 12 months). Goals needto be outlined for you and your business.Objectives, sometimes confused with goals, are the specifics of howto reach each goal. Objectives are measurable. They should beestablished for the same time frame as your goals.
  4. 4. Business Planning - The Process SWOT AnalysisObjectives must support your goals. Both goals and objectives mustbe realistic and obtainable. Setting goals and objectives that are notrealistic and obtainable increases the odds of failure and frustration.Next is to define the strategies that will be used to meet your goalsand objectives.Strategies can be as simple as a one-page listing of each strategy to amulti-paged document defining each strategy and associated tactics indetail. you must review your strategies regularly.Tactics are the specific steps you need to put in place to implementeach strategy.Tactics should be written, detailed and measurable.Strategies and Tactics are dynamic and need to be reviewed weeklyand adjusted based on results being obtained, or not being obtained,and other factors that may arise and potentially affect the end resultsyou are seeking.
  5. 5. Business Planning - The Process SWOT AnalysisTo complete your business plan you need to add your key staffs BIOsand your revenue plan which is a complete topic in itself.In summary:A business plan united by a clear vision, mission and values statementtends to accomplish far more in a shorter period of time than thosewithout a clear statement.Always hold firm on your vision, it should be the cornerstone of youroperation, your guiding light.Your Strategies and Tactics should be fluid. You always need to beforward looking. Being proactive in managing your strategies andtactics will give you the best chance of realizing your vision. If you areonly reactive to changes or problems, you will not reach yourobjectives.The key to a successful business plan is to jointly set the businessstrategy and tactics with all the key people involved, so that everyone
  6. 6. Business Planning - The Process SWOT Analysisis aligned with the vision, mission, values and goals. This insures thatthe business goes forward with everyone working together, promotingthe vision and mission internally, as well as externally. This gives thebusiness the greatest chance of attaining its goals.Setting a business strategy requires an understanding of thecompanys history, in particular the past year, and then lookingforward to the year ahead in detail and the next four years in general.A business plan is only a plan. It is only as good as the peopleimplementing it. ALIGNMENT IS KEY. Forces pulling together in thesame direction, will accomplish much more than forces pulling indifferent directions. A team working together. This requires goodbusiness management.The future will not happen if one wishes hard enough. It requiresdecision, it imposes risk, it requires action, it demands allocation ofresources, above all human resources, it requires work. - PeterDrucker on Strategic Planning.
  7. 7. Business Planning - The Process SWOT AnalysisStrategically analyze your business. Find out what your strengths,weaknesses, opportunities and threats are. Increase your strengths,minimize your weaknesses, exploit your opportunities and avoid thethreats. Click here
  8. 8. Business Planning - The Process SWOT AnalysisLearn more on SWOT Analysis at http://www.bizstrategies.biz/swot-analysis.htmlAndrew Nester is a Business Management Consultant providing business strategyprocesses and consulting support to companies of all sizes. Visit our web site athttp://www.bizstrategies.biz for more information. You can email Andrew atandrew@bizstrategies.biz or reach him by phone at 707-987-8375Article Source:http://EzineArticles.com/?expert=Andrew_C_Nester

×