Five Ways to Ensure an Effective Business Plan
Part of the Business Plans Kit For Dummies Cheat Sheet
No matter whether you’re a new or existing business, effective business planning is essential. Not only do you need to put time into the planning process, but you need to involve the right people as well. Effective business planning combines common sense and a few basic strategies:
Set aside enough time for business planning. The time you spend will save you far more time once it’s up and running.
Involve everyone who will ultimately help make your plan happen in the planning process. Good plans should guide and inspire.
Set clear goals and objectives with measurable outcomes and feet-to-the-fire timelines.
Gather all the information you need. An effective plan depends on a complete and accurate understanding of your market, your customers, your financial situation, and your business environment.
Write a plan that people will read. A business plan only works if people use it, so you need to create a plan that is concise, complete, and readable.