Ensure a Happy New Year with an Effective Business Plan

What? It’s December already? You mean it’s 2016 next month? Time flies when you’re running a business. And before you know it March and then October will be here, and 2016 will fly swiftly by, regardless of whether your business is ready or not!

If you haven’t even thought about a New Year’s resolution for yourself let alone one for your business, don’t wait until the fireworks go off on New Year’s Eve – write your 2016 business plan now!

No doubt when you started your business, you wrote a business plan including key areas of focus such as your business ideas, market analysis, market strategy and financial analysis. Like driving without headlights; it would have been almost impossible to start and then grow your business without this plan.

Likewise, if you have an effective annual business plan in place for 2016, you are statistically more likely to succeed in 2016 than businesses who do not. It’s hard to ignore this alarming reality.

But here’s some good news: Writing a business plan for 2016 won’t take long once you know what your objectives are. A good place to start is to look back at 2015 and decide what could have been better. Did you hit sales targets? Did you grow? Did you take a holiday? You can then flip these and turn them into objectives. For example ‘Improve sales by %’ or ‘Take a two week beach holiday’. Once that’s done you are well on your way to having a 2016 business plan. If you don’t write your business plan this month and start to implement it from January; these things are unlikely to show improvement by the end of 2016 (that means potentially another year without a holiday!).

Once you have some clear objectives, break the year down into quarters (90 days) and decide what activities you need to implement in the first quarter of next year so you can hit the ground running after a much deserved Christmas break. If you need some help, check out the business plan section in our eBook, or contact us so a business coach form Action Coach can help you write an effective business plan and get it done before you wind down and enjoy the festive season.

So this New Year’s Eve when you’re sitting on the grass watching the fireworks and pondering your personal new year’s resolutions… you can relax knowing you’ve at least written a 2016 plan for your business and that you are statistically more likely to succeed. Happy New Business Year!

Check out our new eBook called Plan for a Successful New Business Year.