Monday, January 21, 2008

Targets: Part of the Business Plan Format You Must Set

Business plans are only ever valuable if their is a set of realistic targets on all main criteria of your business. A business plan format of setting targets can be different for each individual business but rest assured, if no targets exist - your chances of success wanes considerably.

Why Set Targets At All?

Targets or goals are written aspirations for your organization to breakthrough in order to reach a new standard of strategic success.

Paul Myer once said, "If you are not making the progress you would like to make and are capable of making, it is simply because your goals are not defined."

Targets are simply created by adding figures and timings to performance measures. By doing so, you have defined the quality, quantity and deadline for delivery.

By making sure your business plan format includes timely relevant targets on all critical key performance areas of your business, you give yourself the best chance of gaining superior results. After all, no one achieves great success by chance!

Having clearly defined targets can mean your organization has a relentless focus and vision and can waste the least amount of energy in moving forward to attain astounding results. Make sure your business plan format includes relevant targets and give yourself the gift of success.

I found a great resource for your business planning needs. Take a look at this great resource and see what you think. For sample business plans go here

Sunday, January 20, 2008

Business Plan Format: A Checklist to Blast Into the New Year


Business Plan Format: A Checklist to Blast Into the New Year

As a business coach working and seeing how lots of successful businesses work, here is a summary of what I have learned in regards to heading into any new year or period.

1. Your Vision is Clear
Can you answer this question:
What are you building your business into taking a 3 - 5 year view?

What will it look like? How many people will be working with you? How will you better serve your customers? Who are your customers? What extra products and services will you acquire? What sort of turnover and profitability will you be achieving per annum?

2. You have a Business Plan

You should now have an operational plan covering
team,
time,
money,
systems and procedures,
leadership,
day to day management,
marketing,
sales,
planning

3. You have a fully functional and accurate budget for the new year
No rocket science required here. To make better decisions around your business and to keep score as accurately as possible, it is imperative to have an updated budget.

4. Your Business Goals are clear
Do you have 5-10 written down (must be in writing) goals around what you want to be, do or have for 2008?
If not you must start now.

5. Your Personal Goals are clear
What do you want to achieve in these life categories.
Finances
Business and Career
Family and Social Relationships
Spiritual
Intellectual (What skill or knowledge you want to acquire)
Health and Vitality

Business Plan Secrets Revealed. How to sell your ideas to investors.
Write a readable plan that attracts the most investors and makes your business the most appealing choice.