Small Business Advice – Not Planning Ahead – From El wood &

Common Mistake number 5 — Not planning at least 12 months ahead

For about 15 years (and I"ve been in business 20 years) I never had a plan, never had a business plan, never had a marketing plan, never had a financial plan. I quiet often wonder; if I had a plan would I have been further ahead? With no plan you end up making spontaneous decisions. When you are small you can cope with them. As you get larger, you can"t cope with spontaneous decisions, they can go wrong & when they go wrong, they can go wrong in a big way.

Make sure you are working to a plan; business plan, marketing plan, financial plan. It"s very very important. Share you plan with everybody involved in the business. I am a great believer in transparency & open marketing both internal & external. So, plan your business for 12 months, 2 years, 3 years & 5 years.

For more business guides, news and information on liability insurance to protect your business visit –

Leave a Comment

Your email address will not be published. Required fields are marked *