Business Coaching Blog
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.