Business planning is not optional

Wednesday, February 4th, 2015

I was talking to a business owner yesterday about his business.

Just about everything that could go wrong was going wrong.

Sales were below breakeven and he has had to get rid of his under-performing telesales team.

A contract for a big customer was leaking profit and damaging the business’ reputation.

They had no finance system and had been through three finance managers in the last 6 months.

Yet this is a business with leading products and blue chip customers which is turning over several million pounds.

When I asked about the business plan I was given short shrift: “I don’t have time to write things down – I need to be fixing the problems! And with things changing by the day I need to keep things in my head so that I can respond quickly.”

I fear for him. Business planning is not optional.

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