Tips for Better Business Planning

By November 1, 2012Uncategorized

Easy Ways to Improve Business Planning

If you consider the increasing pace of change in commerce and industry, and the burdens that phenomenon causes as business enterprises must spend time analyzing, predicting, implementing and overseeing the impact of those adaptations, you must determine that wise, clever, intelligent, thorough business planning has to occur continuously.

Effective business planning is more than creation of a document.  Rather, it is a core element of enlightened management. Without the business planning exercise extant strategies and tactics, activities, procedures, responsibilities, budgets as well as many goals and measurements required to track progress could well stagnate in this morphing business milieu.

Now more than ever, this truism applies: “Failure to plan equates to planning to fail.” Although it may be difficult for some people to create and manage rational, feasible plans, most business owners and executives understand the importance of (a) that vital tool and (b) the logical process that produces it.  Those who are not well acquainted with creation of logical, defensible business plans may expect the endeavor to be quite difficult.  Some experts suggest that newcomers to the process should break it down into individual segments.  That allows the preparer to work on one component at a time.  Then, once the separated components are combined, they can be summarized in a Preface or Forward.

Some experienced creators of business plans like to start with a “vision statement” as a foundation and then build on it.  Others prefer to begin with a strategy statement as the “foundation” for explanations of products and target markets.  Further, some planners choose to prefer deal with the “nitty gritty” after explaining the sales forecast and revenue expectations. Grey hairs often suggest that each planner should (a) treat his/her plan as if it is an interconnected aggregation of components or modules and (b) treat the plan as if it will change frequently and, accordingly, should include flexibility provisions. Some “grey hairs” also suggest that in today’s business environment you should not be disturbed if your plan is somewhat obsolete within a matter of months, using this caustic comment: “In the real world, if your business plan is finished, then it’s already obsolete. If your plan is finished, then your business is finished.”

Many of those same “grey hairs” suggest that (a) shortly after you adopt a new or revised business plan, you should create a monthly “review schedule” and (b) start the monthly meetings by (i) stating the prime assumptions and (ii) discussing how well their validity to date. If any of the key assumptions has changed it may well be time to revise the business plan.


For Business Software Services, ERP Systems, Related Add-on Products, and Tech Support Contact Cornerstone Consulting

If your business plan includes implementing the best enterprise resource planning system (ERP) system available on the market today for your small or midsized enterprise, you’ve found the right company to rely on for streamlined solutions, comprehensive strategies, best practices, and unparalleled support. Since 1983, Cornerstone Consulting has been providing enterprise business management software systems to small and midsized manufacturing, wholesale distribution, and retail companies. In 2005, Cornerstone Consulting became trusted SAP Partners and resellers of SAP Business One. This small business ERP system combined with the customization expertise of Cornerstone Consulting, allows a company to implement a state-of-the-art business management solution, tailored to meet its specific business needs. Instead of your business adapting to the software, the ERP system can be easily customized to meet the specific needs of your operations.

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