This month we are running with a great series of TOP 10 tips for your business survival for the traditional break, and on into the New Year.
Business Tip for Christmas No 3
R ~ REVIEW
Review your Business Plan! Yes, I said Business Plan. You remember that document that you threw together in a rush to get something together for the Bank, Enterprise Board, Start Your Own Business Course???
Well, that document should be the soul of your business. What can it do for you, if populated correctly? Here are a few suggestions:
- It can remind you what you will get out (personally) from your business but also what your short, medium & long term aims are
- It provides a road map or blueprint in your head of where you are, where you are going, and how you are going to get there
- It provides an opportunity to do further targeted market research on your potential customers
- It allows you to refine your business model, which in turn clarifies what are your ‘priority’ activities and goals
Your Business Plan allows you to be creative because it’s an organic document. It is designed and written to be a continuous work-in-progress and to be changed as factors (including your vision for your business) change. It can even provide clues as to your direction if it is reviewed regularly, highlighting problem areas, or re-aligning your business goals with your own life goals. If the two do not make a match, your business will not survive, or your life will be turned upside down.
Be kind to yourself and your business, and come back tomorrow to read Step 4 of our Top 10 Business Tips for Christmas.
Meanwhile, I’d like to share a little story with you here that put everything into perspective for me when I was looking for the answers with my business 🙂