Why is business planning so important?

How does your company view the business planning process? Time consuming? A pain in the bum? THAT time of year again?

If those are the usual responses, why do we then bother with the business planning process at all?

It would be interesting to know how companies would grow and exploit excellent opportunities without a clear business plan and direction on how and where it wanted to grow. You may have heard the saying “you get what you focus on” so focus big! Know how you want to drive your business forward. Do the research to find out where the next big opportunities are for you. You may miss the boat unless you know what direction you’re going in and what you’re looking for.

And, at least with a robust business plan, the effort around the company is co-ordinated, rather than each department running around like headless chickens pursuing their own agendas.

Perhaps the exciting growth plans of your organisation will require funding. What is the first thing potential investors need? Why, the business plan, of course! They need to know exactly how you expect to achieve your ambitious growth plans and that their money will be well looked after and receive a healthy return. If you don’t know where you’re going, how will they have any confidence in investing in you? Would you invest your hard earned cash in a person or company if they didn’t quite know how they were going to achieve their goals and pay you back?

And did you know that around a whopping 75% of business plans are rejected for funding? What a hugely wasted opportunity for your company when the result could have transformed your growth journey.

Those are just a handful of key reasons the business plan is so fundamental to the success of your organisation. And did you know the planning process can actually be fun?!!

Find out how at one of our fantastic one-day Business Planning for Success training courses. You will be trained by an energetic, commercial finance director with considerable experience in business planning with successful outcomes. The course is fun, engaging and very practical with tools, techniques and real examples a-plenty that you can implement immediately and effectively. And then experience your business going from strength to strength.

Call us on 01423 861122 or email us at info@ripleytraining.co.uk for further information. Details can be found on our website www.ripleytraining.co.uk – simply click and book! Don’t see a date or location you like – please ASK!

I look forward to welcoming you very soon.

Author: Mike Smith