This business informational article gets broken down into three segments. Actually, make that five. Four of these important segments talk about the important matter of effective business planning at different stages of the year. Generally speaking, an annual business plan is always in force. Weekly planning by managers and meetings with key employees is another regular fixture on the company’s itinerary. But in many instances, monthly or quarterly planning and its subsequent meetings, if not overlooked entirely, are laborious affairs not taken too seriously by stakeholders. By necessity, some of these meetings can be fairly long and, still to this day; there are those who wish they were elsewhere.
We hope that you are not one of those managers or employees. If you are a manager or new business company owner, we would not mind assisting you in regard to dealing with the tardiness and inattentive behavior. But if you are entirely new to doing and planning your own new business, we would like to inspire (or motivate) you every step of the way. That is what the fifth segment of this short, informational business article will be dealing with. Do enjoy your reading every step of the way, and be inspired.
- The annual business plan As a young company just starting out, this will be the first of two big plans for the year. For starters, the first big plan takes care of setting up the new business. The next big plan will essentially be your annual business plan which reviews what progress was made during the course of the year to date and what should be realistically projected for the new year. If you have started your business around April, say for argument’s sake, still factor in that next big planning session for around November of that same business year.
- The quarterly business plan The idea behind scheduling your own personal or corporate planning sessions around the calendar year is so that you can closely align your business with other seasonal events that generally occur throughout the year. If you are running a retail-oriented organization, you should be taking into account the year’s seasons. So that and a great deal of other things, being said, the excuse should never be that it depends what type of business is being carried out. Carry out those quarterly planning sessions and meetings.
- Monthly meetings Previously, you were always accustomed to receiving your pay check monthly and on time. Now that you are your own boss or heading up a small company, your monthly meetings takes care of your staff being paid on time as well. More importantly, it ensures that you are able to keep track of and meet your month-end financial obligations. You also ensure that your new business orders are taken care of while invoicing your clients on time.
- Weekly meetings Whether you are working solely for yourself or running a small to medium-sized company, weekly meetings are imperative. Rest assured, if they are correctly minuted, these meetings do not last long. Staff know in advance that the meeting is scheduled, so the onus is also on them to come prepared, including challenges and/or issues on the short meeting’s agenda. If your meeting is held first thing on Monday morning, finalize its agenda on Friday mornings, allowing for more than enough time for changes or additions to be made, if necessary and/or feasible.
- Taking your first steps Finally, and especially since some of you might be feeling truly nervous about taking your first, big steps into going into business for yourself, let us begin by saying that there is nothing to fear. A later article is going to give an emotive talk on the essence of being in control of your emotions. You should read that. In the meantime, we would like to congratulate you for being brave or bold in beginning to put into place the first foundations of your new business. Just remember that as a business leader, you are never alone. Peer review groupings and support mechanisms and associations are in place to assist you with your personal growth and business development.
Another aspect of your preparedness well worth bringing to your attention is what happens, or should be happening before you even reach these early stages of planning and starting up your business. Take advantage of empowering yourself with the educational and knowledge tools that are widely accessible to you today.
If your area is remote and under-developed, you can now attend accredited online business schools as well. If you already have a college degree, you can extend upon this by doing a post-grad, business oriented course. Good luck with your studies, planning and development.