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What Strategic Planning Can Do For You | Free Book

The Australian Securities and Investments Commission released a report into corporate insolvencies that found 44 percent of businesses suffered poor strategic management, 40 percent had inadequate cash flow or high cash use and 33 percent suffered from trading losses.

Strategic planning allows you to:  

  • Monitor the direction of your business and steer it onto the best path for future growth and success.
  • Optimise performance, adapt to changing circumstances such as changes in technology, market expectations or the competitive environment, and plan for major events, both internal and external.
  • Regularly and consistently assess whether your business decisions are correct and optimised to meet your goals. 

 The benefits include: 

  • Clarity about the business direction
  • Better customer satisfaction and engagement, leading to sales growth
  • Optimised business value• Sustainability: improved work / lifestyle balance for owners or managers
  • Identification of new opportunities • Increased profits
  • Smooth exit and succession
Read more in your FREE hardcopy. Click to order.  Continue reading

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3 Powerful Ways A Business Plan Can Help

Creating a business plan is one of the most valuable activities you can undertake. Although it takes time, research, analysis and energy – business planning is a valuable process that will give you direction, confidence and resilience.

Read on to find out three powerful ways a business plan can help you succeed.    

 1) A business plan can help you secure finance If you're seeking finance for your business, you'll need to show banks and investors why they should invest in your business.

Lenders and investors will only risk their time and money if they're confident that your business will be successful and profitable.
A thorough and well-researched business plan: shows that you’re serious about your business helps lenders and investors to understand your business idea shows your predicted profits and income streams.

Check out our business finances information for more on how to secure finance for your business.

2) A business plan helps you to prioritise and maximise your efforts

Preparing a business plan will help you work out what your goals are and strategies to achieve them.

This means you can focus your resources and energy on what you need to do, rather than spreading yourself too thin.

The planning process also helps you to consider possible bumps in the road and put a plan in place to better manage them if they do come up. Once you’ve got a business plan in place, it’s a good idea to regularly review and update it to:

  • remind yourself of your goals and priorities
  • assess whether your strategies are working
  • adapt to any new changes in your environment
  • make the most of new opportunities as they come your way.
3) A business plan helps to gives you a sense of control over your business

Going through the planning process can give you a real sense of control over your business and your future.

It helps youto put down on paper many of the ideas, risks and questions that business owners constantly think about, including:

  • who are my competitors and what is my place in the market?
  • who is my ideal customer and how can I best serve them?
  • what are my financial objectives and how will I achieve them?
  • what are the potential opportunities that I can take advantage of?
  • what are the threats to my business and how can manage them?
  • what are my strengths and how can I minimise my weaknesses?
So instead of worrying about the future, you can more confidently ‘get on’ with business knowing that have a plan in place to achieve your goals, adapt to change and deal with obstacles that come your way.

Take the first step secure your business future. Ask Jon or Margaret at Unity Management about completing a Business Appraisal. Plus, would $20,000 of Government Grant Assistance help to write your business plan? 

Call us today on 02 9011 5220 or email info@unitymanagement.com.au to enquire.



Australian Government | Business – business.gov.au
Excerpt from industry.gov.au

http://www.business.gov.au/news-and-updates/News-and-features/Pages/3-powerful-ways-a-business-plan-can-help-you-succeed.aspx

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