JPAbusiness

In this video I list four components of an annual business plan and drill down a little into some of the business issues you should cover under each of those four elements.

An annual business plan should encompass three core concepts:

1. Where is the business now?
2. Where do we want the business to be in the future?
3. How are we going to marshal the resources we have and which we can influence to get there?

Business plans don’t have to be lengthy documents, but they do – in our opinion – need to be written down: if you haven’t written it down, you haven’t committed to it.

This short video series covers some key concepts related to business planning, including:

• Why does my business need a plan?
• How often should I review my business plans?
• What to include in a Strategic Plan
• What to include in an Annual Business Plan

Business planning is about making your business as robust as possible, so it can take advantage of opportunities and also successfully withstand inevitable shocks.

Annual business plans don’t have to be weighty documents, but they do need to contain some key information, with the most important being:

• frank and honest appraisal of resources
• analysis of your competitive environment
• SWOT analysis
• targets
  
• budget.

The annual business planning process should address three critical questions about your business:

1. Where is the business now?
2. Where do we want the business to be in the future?
3. How are we going to marshal the resources we have, and which we can influence, to get there?

In this video I list four aspects of your business which you need to consider during the annual business planning process – Operational, Financial, Risks, People management – and drill down a little into some issues you should cover under each of those four elements.

You can’t plan for every eventuality, but you can plan to withstand shocks. Having a business plan and following our 3-Step Annual Business Plan Process will help you make your business as robust as possible, should such a shock occur.

Planning is about influencing the things you can influence, while taking account of the things you can’t. The latter are risks or opportunities that may or may never eventuate.

By changing the things you can change, you can position yourself to take advantage of opportunities should they arise, or mitigate risks that might flow.

In this video I list four components of an annual business plan and drill down a little into some of the business issues you should cover under each of those four elements.

An annual business plan should encompass three core concepts:

1. Where is the business now?
2. Where do we want the business to be in the future?
3. How are we going to marshal the resources we have and which we can influence to get there?