Everyone Needs a Business Plan with Performance Reviewed Monthly

Every business should have a plan. There is a saying:

“If you do not know where you are going then any bus will get you there.”

It gives the business a focus. The plan itself should consider specific objectives within the four categories of; Business Development, Customer/Client Service, Internal Procedures and Staff Development.

 As an example:

Business Development objectives may be:

  • Achieve a turnover of £300,000.
  • Achieve a gross Profit of X%.
  • Ensure fixed costs do not exceed A%.
  • Achieve a Net Profit of Y%.
  • Obtain x new clients by the end of the year.
  • Develop and monitor a Sales and Marketing Plan.

Customer/Client Service objectives may be:

  • Ensure the response to telephone answering is within 3 rings.
  • Ensure delivery dates are met.
  • Ensure any complaints are dealt with on the same day and record outcome(s).
  • Achieve a measurable improvement in customer service.

Internal Procedures objectives may be:

  • Ensure full compliance with all Health & Safety issues.
  • Develop an IT strategy.
  • Improve and measure staff communication.
  • Review roles and responsibilities to improve efficiency by x%.

Staff Development objectives may be:

  • Introduce an Appraisal for all selected “staff”.
  • Introduce a Training Plan Programme for selected “staff”.
  • Introduce and maintain a skills matrix for all staff.
  • Undertake Continuous Professional Development (CPD) Programme for all selected staff.

The Action Plan Programme should then identify the steps that need to be taken to achieve these results and performance must be monitored on a monthly basis.