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One thing that never changes is the fact that having a good plan for your organization is essential. Even after opening your doors, you will continue to analyze, refine, and refine this plan to improve operations. With the pandemic creating so much uncertainty, crafting a plan for 2022 may seem more difficult than in the past.

However, there is some good news. Sticking to a few key points will take away some of the advantage.

1. Identify your assumptions and prejudices

Most business plans are built around at least a few assumptions. For example, you might assume that you have to follow a specific set of regulations or that you are the right person to lead the organization. One thing I have learned in the investment world is that even though cycles repeat themselves, nothing goes exactly as planned. What you thought would happen may be very different from what is actually happening.

Take a look at your assumptions from the previous year. What resisted? What went wrong? More importantly, why haven’t they held up? If you can answer this question, you can avoid making the same mistakes again. If you’ve never made a plan before, try to identify biases that might be causing problems. Either way, give yourself some breathing space and remember that life is coming.

Related: How to build your 2021 business strategy in the face of uncertainty

2. Look at your results

Sometimes your results are very different from what you expect. It’s not necessarily because you did something right or wrong, but it could be because there are so many moving parts involved. Look at what you got and let those results give direction to the business. For example, if you find that people have bought twice as much of a product than you thought – and market conditions and attitudes have not changed – then it would make sense to invest more in that product. for the coming year. Be insightful as to the real cause of your results to know if they are anomalies or real long-term trends for the business. But don’t start blind.

3. Create projections

Projections tell people what you are committing to. For example, you could say that you are going to spend $ 500,000 on advertising or $ 1 million on Project A. It is very attractive to investors and shareholders who want to know that you know where you are going. In one of the companies I started, this kind of projection helped me find partners. If you are both honest and daring enough, your projections can shape your situation and influence the support you get.

Projections also recognize anticipated problems and anticipate circumstances to keep you prepared. To illustrate this point, when I started a small business in the FinTech industry, I didn’t anticipate that I would need more funding. I didn’t watch what would happen if the stock market really plunged. I just assumed everything would work. When venture capitalists asked how it would work financially in different scenarios, i didn’t really have an answer for them. When problems erupted, I had no plan to survive and the business went bankrupt. If I had described what to do in different scenarios, maybe I could have kept my doors open.

Always look at your best and worst scenarios, work with different people in all departments, and create projections that paint a realistic picture of the business.

Related: How to organize year-end meetings with suppliers – virtually

Business plans need to be somewhat fluid, as the market and the world change incredibly quickly. Be prepared to react and pivot. You can apply these same three points whenever you need to create a plan for your organization. Start early, define who you are and make your commitments. The sooner you can clarify your identity and your intentions, the sooner great things can happen.

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