At the time of writing, it’s 6 weeks to Christmas, which means it’s 7 weeks to 2023! Does your business have a plan for next year?
If you are planning to not only stay in business but thrive in the coming years, let’s take a look at how we might approach it.
Businesses that have a 5 to 10-year vision have a “where” they are heading, past the current crisis or problems of the day. Those who also have a 2 to 3-year strategy develop priorities to focus on for “how” they will achieve the vision. And businesses with a 1-year planning process assign owners for “what” needs to be done. This will combine activities that have a longer-term result with responsiveness to issues and problems that may arise.
An important part of setting the 3-year strategy is to understand potential risks to the business. This can be done with a number of tools such as SWOT and PESTLE. 1-year plans can then be put in place to address the issues that may prevent your business from achieving your aims.
BUSINESS NEEDS PLANNING BUT ALSO NEEDS ACTION
All this planning is great, but you also need ACTION! This is where the 90-day planning process comes into its own. Setting clear actions with owners and reviewing them every 90 days sets up accountability and over time establishes a cadence.
Which part of this are you doing well in your business?