A business plan is a document which captures how you expect your business will grow, according to a large number of factors such as funding, how the market behaves, the people involved in the business, and – of course – how successful you are at selling your product or service.
On day one of your new business, as you sit at an empty desk wishing the phone would ring, you think about the future and how exciting it will be to be busy.
Fast forward two years to when you are working 14 hours a day, six days a week (with enough work to fill your sleeping hours) and your wish has come true, but turned into a nightmare along the way.
If this is happening to you, don’t worry, you are not alone. It’s a common problem that affects many small business owners. The hard work and long hours to get the business off the ground never seem to stop.
With all the excitement of starting and running your own business, it’s easy to overlook what might happen if it all goes wrong.
A disaster could strike your business at any time, in any form. What if your main sales person was lured to an aggressive competitor, you lost your data, or your building was destroyed in an accident? It’s rare, but it happens.
Here are seven simple steps to a writing a simple but powerful disaster recovery plan:
It’s easy to focus on the day-to-day running of your business, especially when you have only just started-up. But once your business is established, it is actually time to start planning again. Here’s why you should review the performance of your business and how to get started.
Expert opinions may vary, but in general there are some standard analyses that a business plan ought to have, regardless of specifics.