Most companies draft a business plan outlining the course of a business over a lifespan and share it with investors or the bank. Fewer than you would think regularly revisit the document to assess growth against target.
A good strategy document, regularly reviewed, can help to document latest market information and outline current opportunities. A good plan reveals how investment would be used and the expected returns.
It is a great document to review annually to see where you are, where you want to be and how you plan to get there. Were key targets met and business priorities achieved?
By adopting a continuous and regular business planning cycle, which keeps the plan up to date you can maximise your chances of success.
If you regularly assess your performance against the plans and targets you have set, you are more likely to meet your objectives. It can also signpost where and why you're going astray.
The assessment will also help you in discussions with banks, investors and even potential buyers of your business. Regular review is a good vehicle for showing direction and commitment to employees, customers and suppliers.
Defining your business' purpose in your business plan keeps you focused, inspires your employees and attracts customers.
Jola is a channel provider of internet connectivity, hosted voice and 4G solutions to the voice and data channel. We help our partners to grow their businesses by adding recurring revenue streams. We encourage our partners to plan for success and offer assistance at every stage.
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