We’ve all heard this question – “Where will you be in 5 years time?”
It’s an annoying little question isn’t it?
However, the reality is that most SMEs haven’t got a clue because they plan nothing and, as a result, that’s what they achieve, they drift from one year to the next believing that their fortunes are dictated by outside forces. Well I’m here to tell you that they are wrong.
Your Business Plan doesn’t have to be complicated but it does have to be based on fact. So the easiest way to start is to develop a rolling 18 month cash-flow spreadsheet system. here at BHT Marketing in Northampton in the Midlands we have one for our telemarketing service which extends into August 2014!
If you do this by week you will be able to detail the income you receive and will receive through the foreseeable future and itemise your expenditure on the same basis. The net result is you will more accurately predict your future cash-flow needs.
This is the beginning and now you can start to develop your PLAN. It’s human nature that once you’ve seen your existing future you’ll want to try to improve it.
Where to start? I’d recommend being selfish and putting in the income you want to draw for high days and holidays.
You’ll start to see that in order to achieve your personal goals, which, after all, is why you went into business in the first place you have to start to increase your sales.
This leads you to thinking about developing marketing strategies which in turn lead to costs and so on and so forth. Why not Ask for a quote.
After a while you will settle on a plan of action that will take you to a short-term goal. What follows on is a less exact plan for the next 4 years based on mathematical income and expenditure growth estimation, which themselves are based on the first 18 months that you’ve just developed.
The combination of the two plans means that you can monitor you performance and make changes to ensure you get to the next level.
The next thing that happens is quite magical – you will wonder why you didn’t do this earlier and marvel at other SMEs who don’t do it at all! Then you find yourself achieving business performance you didn’t think possible before and you’ll start to enjoy the success you are having.
It isn’t always easy to get started however, so if you need a helping hand just give me a call on FREE PHONE 0808-172-1900 and we’ll arrange a meeting or you could drop me an e-mail : email@example.com, and don’t worry it’s not going to cost you a penny to talk to me!