Many business owners consider a business plan to be something that you create when first setting up. However, having a business plan in place at all times and updating it as you grow will help you to set new goals and have the tools required to see them through. In this article we’re explaining why business plans are so important and how we can help you to develop them each year. 

Consider your people 

A company’s employees are its greatest asset, so it makes sense to start your business plan by taking stock of who’s on your team and the roles they each can play over the coming year. This will uncover any skills gaps you may have and help you to decide whether you need to recruit additional team members or outsource any particular tasks. 

Check your sales performance 

By taking a good look through your sales activity and financial figures from last twelve months, you’ll gain a clear understanding of how to budget and forecast for the year ahead. Analysing the performance of your business also includes how many sales pitches you made and the ratio of success, as this will shed light on areas that can be improved. 
For example, it could be that you pitched for jobs that didn’t truly fit your vision and were therefore unsuccessful, which means that more relevant projects should receive your full focus going forward. There may also have been certain months where sales dipped due to anything from annual industry slow periods to staff being on holiday, in which case a strategy can be developed that takes these repeating factors into account. 

Assess your industry and marketplace 

Every industry has trends, with the core factor being whether you ignore them or respond in an appropriate way. This section of your plan will determine what needs to be done in order for your business to maintain its competitive edge, stand out from the crowd and win more work in a crowded marketplace. 

Set your revenue goals 

There are multiple elements that affect your revenue, so your goals should reflect them and outline practical ways of steering around any obstacles. This will include how many pitches you need to make, ways to use your network and referrals to maximum potential, reducing your reliance on organic sales growth, and other actions that will ensure your business gains new clients as part of a unified sales strategy. 

Create a system for reaching these goals 

Once you have a good idea of the level of revenue you want to achieve over the next year, it’s time to really study the nitty-gritty of what makes your business tick. This can include making your buyer personas more specific, enhancing your sales language and communication style to maximise engagement, making the most of each employee’s time, and exploring new ways to increase workplace collaboration. 

Put in place business tools and resources 

During the above process, if there are any glaring shortfalls in your resources, it’s time to fill them with a suitable solution. These problems could be related to anything from technology and internal communication to web traffic and project management, all of which can be fixed with digital tools such as Slack,, accounting software like Xero, and any number of apps and software that will enable you to do more in less time. 

Don’t forget marketing and PR 

Always remember that there’s a lot of competition out there and your business could become difficult to find in all of that noise. Your business plan for the new tax year should outline ways to improve your marketing and PR in ways that your target audience will respond to, which could include blogs, case studies, video content, PR activity, industry events and much more. 

We’ll help you to create a business plan 

If you’re ready to develop a business plan that will make an active difference to your productivity, competitive edge and revenue, call our Northern office on 01482 235575, our London office on 0207 885 0605 or fill in the contact form below. 
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