Growing a business is a lot like raising children: it will need a lot of nurturing and care to grow up to be healthy and self-sufficient. So, when was the last time you spent some quality time with your business?
The concept of spending “quality time” with our children is something we all understand and value: investing time and space to just hang out together, creating an opportunity to talk about how things are going, about hopes and dreams, to connect and communicate.
How much quality time do you and your team spend with that other entity… your growing business? Quality time with your business involves reviewing what’s working well, what isn’t, what possibilities exist for the future and what’s happening in the world out there that’s relevant to your business. Just like investing “quality time” with children, your business may benefit from some “thinking time” with you!
One way of putting quality time into your business is through the process of creating a business plan. Following the structure of a business plan elicits discussion, the sharing of ideas and expertise, the opportunity to look at things for new and different perspectives, to gain fresh eyes on the future of your business. The action of preparing a business plan most importantly creates the perfect opportunity for some meaningful communication.
It is through articulating information about your business – why it works and what is happening in the environment it operates within – that we are able to see things more clearly. The process of collaboration, research and even some star-gazing enables you to identify opportunities, clarify your ideas and integrate good ideas from others into your plan.
Like all success, the success of a business begins with having a vision of where you want to go. Setting objectives for your business helps you to describe what this destination place is, and the clearer the picture becomes, the more likely it’ll be achieved. Involving your team in the development of your business plan enables them to get on board with your objectives and this way, everyone heads in the same direction.
The establishment of clear objectives and a road map for where your business is going also assists with decision making throughout the year. It enables you and your team to evaluate opportunities as they come along and ask: how does this fit in with the overall plan for the business?
Abby Practice is offering an opportunity to spend some quality time with your business through a hands-on workshop on creating a business plan on Tuesday 13 November from 12-2pm.
Places are strictly limited, so you’ll need to be quick to register. Just click here.
