January and February are great times to look at a business plan for the financial year. Planning a business is fundamental to the business’ success. Why not sit down and give yourself an hour to think about your business?
The first place to start is to review 2013. What was a success? List the successful items.
Now list the activities that didn’t go as well as you hoped they would. What did you learn from the successes and the unsuccessful items? Have you reviewed your market? Is it the same as what it was in 2013? Do you need to move or expand to a different location? Are your market demographics changing? Do you understand who your potential customers are? What feedback have you received from your customers? Are you happy with your customers? Have you asked your customers about the service your business is providing?
What do your team members think? Have you had a ‘think tank’ meeting with them to examine the results from 2013? What worked and what didn’t and what do you envisage implementing in 2014. Have you developed a social media strategy? Are you using it effectively?
If you need assistance on the development of business plans for your business, please do not hesitate to contact us.
