The importance of business planning

Posted: 9th June 2011

My last post was a review of the 7 Habits of Highly Effective People last September – now that doesn’t make me feel like a highly effective person! But I’m still here, check still reading lots of business books and working hard at my business.

The last year has been an interesting one. We moved into our office last June and our finances instantly took a turn for the worse. But we didn’t let that stop us. We tightened our belts and did some serious financial planning to make sure that we started bringing in enough money to cover costs and our living expenses. As a result I feel much more in control of our finances and have got a detailed budget for the different areas of running the business. And I’m pleased to say that business has picked up again and our finances are looking healthier than they have done for quite a while.

The last few months we’ve had a lot of work on, here so we’ve mostly been keeping our heads down and working at keeping on top of our workload, but this week has sparked off a new phase of business planning. Wednesday turned into an “Emily you MUST do some business planning” day. First thing was my weekly business breakfast at Tregenna Castle, St Ives where we were given inspirational talk on branding by Joy of Approach (thanks Joy!). We (that is myself and my partner) then went off for a meeting with a business mentor – this was a guy we’d met a couple of times before but hadn’t seen for a loooong time. It was great to catch up with him and as always he was overflowing with ideas on how we can develop our business.

The result of this is that we’ve agreed to set aside a half day each week to concentrate on business planning and implementing the ideas – with the focus on taking action. It’s not that we haven’t been thinking about business planning for the last six months, but we do tend to get caught up in working for the business rather than developing the business. So, now we’re looking at things with renewed vigour. Let’s see what we can achieve!

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