No matter the size of your business, we encourage our clients and colleagues to develop a written business plan. Not only will you see how far you have come, you will see where you want to be in the future. Business owners are often too busy running the business to sit and write a business plan; dare to be different and take time to develop a plan. You may be surprised by what you see!

1. Where are you wasting time? Perhaps your target market is different than who you have been prospecting or maybe your prospects are your new target market. If you’re spending a business day or two on paperwork, it might be time to outsource.
2. What is your marketing plan? Researching and developing a targeted marketing strategy will save money and time now and in the future. Understanding the competition is crucial to the success of your business.
3. What are the values for your business? If your business value is integrity and you are not delivering as promised to clients it might be time re-evaluate.
4. What is the primary source of business? Website, referrals, social media and print marketing are common sources of business. You may be wasting time, energy and resources on something that isn’t adding value.
5. What are your strengths and the strengths of your team? No matter how much we want to believe we can do everything, we cannot and if you think you can you are mistaken. Taking time to understand the strengths of you and your team is important to success and engagement.

All of these and more are questions that are answered in the course of developing a business plan.

Related articles

• To Make Business Planning Less Daunting, Let’s Call It Something Else (entrepreneur.com)
• Writing a Business Plan: 9 Essential Sections (ghazbizin.wordpress.com)