Most business that fail don’t plan to fail – they simply fail to plan.  Period.  And then compound the error by confusing bad management with bad luck.  There is a better way, writes Patrick Smith Partner with DNG Dove Naish.

We all know that planning makes sense, that we wouldn’t dream of getting in the car without knowing where we are going would we?

Sometimes, though life gets in the way and planning falls to the back of our minds.

Nevertheless we all secretly know, and the research proves, that planning remains a key benchmark of most successful businesses.

So what do we mean by planning?

Certainly not just financial forecasts.   What we really mean by planning is identifying and then merging our personal and business goals.

Start the process therefore by being selfish.  What do I do at the moment and do I enjoy it?  Am I good at what I do and is it the best business use of my time?  How do I ensure that the rest of my days are enjoyable and successful?

Then you can think about the business.  Where is it now, where do I want it to be and what are its strengths and weaknesses?  What do our customers want, how are their needs likely to change in the future and how are we going to meet those needs?  What are the blockers stopping us moving forward and what are the missing bits in the jigsaw? Ultimately how am I going to get out and with how much dosh?  And most importantly of all, how does all this fit in with my personal goals?

Lots of questions and the need for a little honesty plus considerable courage.  But what will emerge from a lengthy exercise is a clear sense of direction based upon genuine vision – as well as a far greater enjoyment of both personal and business life.

This is what we mean by the importance of planning.

If you would like help with business planning and want to know more about the services DNG can provide to ensure your business grows in the right direction, give Patrick a call on 01604 657200 or email him on patrick.smith@dngca.com