Business Planning

Can you easily answer these questions?

• Do you have a current Business Plan?
• Have you set realistic and measurable goals?
• Do you have clear strategies to achieve your goals?
• Do you regularly review your goals in regard to changing circumstances?

A well considered business plan can help generate energy, inspire confidence and convince potential lenders that investing in your business is a risk worth taking.

Benefits of a Business Planning Session – how often should I have one?

Any time is a good time to develop a Business Plan if you don’t have one, however it's particularly relevant at the start of a new financial year.

If you're contemplating a major change in your existing business or starting a new venture, a Business Plan is crucial.

You'll also need a Business Plan to support any financial applications.

The benefits of a good plan are manyfold:

• Review and set the direction of the business
• Eliminate procrastination
• Identify common goals amongst a number of directors (if applicable)
• Identify and prioritise your key goals
• Create strategies to achieve your goals
• Identify what you will need to achieve your goals
• Set timeframes for achieving your goals
• Develop a tool to communicate your business goals and vision with your team
• Divide your goals into short term and long term - quick wins vs key projects
• Develop a template to review actual performance against targets
• Create a platform to develop Financial Forecasts
• Use your Business Plan as a basis for you to set team members’ individual goals/targets

Discover how we have supported successful creatives over the years using Xero, along with other emerging technologies, to ease their pains and help them grow faster.