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Business Planning is not regarding as necessary; often discarded as expensive red tape reserved for blue chip or corporate companies; a business plan can absolutely have no bearing over the success of a business – after all, overnight success has no formula.

Fact: There is always a business plan. It may not be written, published or bound in the front office; instead, a business owner may rely on his instinctive vision, adapting it to suit environmental demands and unexpected growth or decline. And while this ad hoc form is successful for some small business services and sole traders, instinct can only take you so far.

Reasons to Business Plan...Now!

  • Test Business Viability - A business plan reveals if your idea is unachievable. Save time, money and frustration.
  • Roadmap Success – Map out business and growth milestones, discuss marketing strategies and learn to manage company budget.
  • Bank On It - A business cannot exist without capital. A business plan is often comforting to financial services and banking consultants; most established channels will not guarantee a loan without one post-GFC.
  • Work Smart, Not Late - Businesses are organic. Reviewing your plan can help you identify areas of change, improvement and accomplishment.
  • Investor Magnetism – Any reputable investor requires a steady pitch and solid planning documentation before taking the leap. Assist their decision by preparing for the future, recording the past and embracing the present.

Wait! Business Planning is for big business. I'm the little guy, a small business owner. I'll expand first and then plan...

No. Act Now! The bigger the business, the more fragments and procedural inconsistencies to tackle – take the following example. Imagine you've made it; you're a local success, expanding interstate and opening branches in major urban centres. Perhaps you've made a move on the corporate sector and found your niche there. You know there are some issues to address; the books don't always look healthy, staff are disgruntled and you've hit an unbreakable glass ceiling.

Failed to Plan? A Resort Case Study

Your advisor suggests a business consultant, having dealt with the company in the past.

Business consultants and coaches will lead you through a planning formula, offering a quick fix to any structural woes – avoidable woes, if you'd prioritised a business plan. Though you're a little hot under the collar, your key employees enjoy a resort stay while brainstorming the direction of the company and networking with upper management.

You're excited about the report, a beautifully bound corporate masterpiece gathering dust at the bottom of the admin cabinet. What have you walked away with?

Selective planning retreats can injure your business by:

  • Creating discontent and divisions in excluded employees. They were not part of the conversation; they have no passion or enthusiasm for your vision beyond the 9 to 5 remuneration.
  • Rank and file employees lack the strategic focus, cynical of its viability.
  • Strategic Planning becomes a perk filled exercise, opposed to a feature of organisational culture.

Rank and file employees are the heartbeat of your company. They speak to your customers, negotiate with vendors and identify competitors. They work with your expensive equipment, explore the extent of your business structure and point company policy to repair. They are your company, your business, your future.

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Did you know?

Before Goldcross Consulting, Alan was a nationally recognised caterer, winning numerous industry awards, after building his hospitality legacy from the ground up. He stresses the importance of a detailed business infrastructure, covering every aspect, from customer relations, stock dispatch and cancellation policies.

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