What is your business plan.

I have been looking into improving my marketing and one of the first questions the marketing people ask is “what is your elevator pitch?”. I was thinking about it and how this applies to me and then I thought I should turn around the question and ask my clients what is their business plan.

Do you have an elevator pitch about what your business plan is. I think a business plan should be a roadmap for where you see your business in 5 years’ time.

This could take many forms and is not necessarily about money. It could be about providing the best chocolate to your local area. It could be about having a work life balance where you work 3 days a week or it could be about earning $X a year or increasing your turnover by 100%.

However, whatever your business plan is if it is not clearly defined then how are you going to achieve it? As the saying goes, if you do not know where you are going then any road will get you there.

Once you have a business plan then you can set the direction you need to head in. Yes, there may be some detours and set backs on the way but you will be heading in the right direction.

When you start your business plan journey you will realise that to achieve your goals then you will need to achieve several targets and will need to prioritise these. You will need to get the basic building blocks right before you can build on them. 

The business plan will also reduce the number of wrong paths that you will take. For instance if you want to increase the size of your staff then signing on for another 3 year lease on your current premises may not be the way to go, particularly if you think you may out grow your current premise within year.

If you need help developing a strong business plan or perhaps reviewing the one you already have then your accountant is a good place start.

By the way… My elevator speech is SPR Accounting is for small business owners located in the Sydney area requiring quality no stress accounting services. SPR Accounting is a highly knowledgeable, compliant, and proactive accounting service that is a key part of each client’s business, providing a personalised experience to ensure the best possible outcomes.

My Business plan is to double the size of the business in the next 5 years and provide a great place for the people in my business to grow professionally and without the stress for our clients. I am happy with the people I have in the business and now the aim is to grow the business and hopefully hire some more great accountants.

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