The Power of Planning

Having a plan allows you to turn your dreams, and your ideas of what success looks like, into reality. By creating a strategy and action plan, you will move your business forward and crucially ensure that you run the business, instead of the business running you.

The process of defining what your goals are, documenting and sharing them can have a profound impact on how much you achieve.  It gives you and your team focus, amid the whirlwind of day-to-day activity. 

Setting clear and realistic targets gives a definite benchmark that allows you to measure your progress, allowing you to see whether everything is going to plan or whether you’re falling behind.

If it’s clear you’re falling behind, you can then take corrective action - before it’s too late, to keep on track, which ultimately allows you to really drive the performance of your business forward.

Deciding where to start can be tricky, so some key points to consider are:

Map out your objectives

Take stock of where you are, what do things look like now? Then, consider where you want to be – what are your overall goals for the next 3 – 5 years. Start by mapping out your sales targets. And make sure you have a clear idea of what your Profit or Loss, Balance Sheet and cashflow will look like over this period.

Failure to consider this right at the beginning will doom you to failure before you start, so this step is vital.

Break your overall goals down

Once your overall goals are established, split them down into a month by month forecast. This is crucial to the success of any plan.

Many businesses overlook this step, and then get caught out with peaks and troughs throughout the year.

Keep reviewing your performance against the plan regularly – only by referring back to the plan can you measure your progress and take action to stay on track if needed.

With years of experience in helping clients map out their future, we can work with you to review your current plan, tell you how it is, how it should be and then help you get there.

For more information on how we can help you and your business contact us at info@oldfieldadvisory.com or call 02476673160

Please note: This article is provided for information only and was correct as at time of writing (07/02/22). Any lists and details provided above are not exhaustive and are not intended to be full and complete guidance.  No action should be taken without consulting detailed legislation or seeking independent professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this article can be accepted.