By Hoge at July 01 2019 17:41:05
Strategic Planning & Goals: The first step is to identify the key company goals which will be the over_arching direction of the plan. These goals should be focused on three areas: financial, growth initiatives and alignment to the company's vision/mission. This provides the overall direction of the company by establishing high_level goals that will be achieved by tactical initiatives. The overall plan should be 1 to 3 years with measurement mileposts monthly, quarterly and annually. While the plan is put in place at the onset of the year, it should be constantly re_forecast with actual results throughout the year.
To me a small business is one of the best things you can have if you enjoy operating a business; however, it does require a lot more than just enjoying ownership and running a business. Especially if you are starting a small business and even if you have had a business for many years, you should know what you want for your future. Never guess about your business. You see, without a plan, you are just guessing. We business people work hard and we always continue to hope for the best but when we guess, we're taking a lot of risks. You've probably heard the old saying from an unknown author that says, "If you fail to plan, then plan to fail."