Why should you write a business plan?

Well; would you pack for a holiday with a blindfold over your eyes? Would you take your family on a three day journey across unknown territory without a compass or a map? Would you employ someone on the strength of the sound of their voice?

Then why run a business without a plan?

Admittedly writing a business plan can be challenging. Time is often an enemy but it can also highlight the need to make difficult decisions. .

SMEO recognise that for many small to medium sized businesses constructing this document can be a daunting process so we have developed a business planning workshop that provides a simple structure for you to follow as well as providing a clear vision of the benefits that your business can gain by completing and regularly reviewing your plan. The workshop provides you with the opportunity to:

• make an objective, detailed assessment of your business
• identify any changes that you need to make to your business in order that it meets your short, medium and long term goals
• examine the potential threats to your business and develop a strategy to stay ahead of the competition
• identify any issues or problems within the business and consider potential solutions
• agree the objectives and goals that will drive the business forward
• identify the indicators that will enable you to accurately measure the level of your success

Creating your business plan should be just the beginning of an ongoing process as you regularly re-evaluate and amend according to the ever changing commercial environment. In doing so it will allow you to be far more prepared for future eventualities and act quickly where necessary, rather than reactively to situations that could have been foreseen. If required SMEO can continue to support you with annual reviews.