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New Year... New Objectives & Plans for 2018

19/12/2017

Are you considering setting your 2018 objectives and writing or updating your business plan then we can add a little focus for you here.

Objective Setting 

If you are about to start setting objectives for next year then using the 4 C's to analysis your objective can be useful tool.

Bear in mind objectives need to be:

1.     Concise
2.     Clear - agreed and understood between everyone involved
3.     Contributing - what does it mean to your bottom line
4.     Counted

The overall blueprint for your planning at work will be the business plan.

You will need to able to answer the following questions!

Tip: Answer these questions yourself then ask your staff or your mentor to answer them this really helps with a more rounded plan!

Business planning - 8 simply questions to ask

  •       Where is your business right now?
  •       Where are you going to be in 6 months' time? 1 year? 3 years?
  •       How do you plan to get there?
  •       What will it cost?
  •       What finance will you need?
  •       What equipment will you need?
  •       What skills will you need?
  •       What skills will your staff need?

Need support to learn how to effectively write a business plan then read more

Business Planning - Types of plans

One technique that has proven helpful to many business owners is to segment business plans to smaller pieces, then focus on each of the individual topics before creating a larger overall plan.  Here are 3 general types of business plans. 

Business plan - This is usually a: 

  • Long term plan bank or financial plan
  • Plan of stock/share offering
  • 3-5 strategic plan
  • Merger or acquisition plan 

It is a comprehensive document to sell the business to the lender or shareholders

Operational plan - This may cover: 

  • Manufacturing or operational methods
  • Inventory acquisition and control
  • Marketing and sales plan
  • Sales contact, call and follow up plan 

This is often a long term plan for total operation of the business 

Project plan - This could include:

  • A premises or equipment purchase and installation plan
  • An exhibitor and or road show marketing plan
  • A year end - inventory and financial audit
This is usually a short term plan for a one off client situation

Learning to set objectives and write a business plan are key skills to develop and take a business forward as Benjamin Franklin said "By failing to prepare, you are preparing to fail." 

Academy of Learning supporting Managers and businesses to succeed in 2016 

Our courses are designed to meet the needs of employers today; our bespoke training courses build skills to improve performance to ensure that you get the most from your budget, whatever the size of your team, from 1-1 development or group seminars in house at your premises. 

Get in touch if you have any questions or wish to explore opportunities

01279 311492


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