Whatever the reason for these businesses closing (running out of cash, reducing demand for the product, retirement, business sale) the statistic presents a bleak outlook for those of us running a business today.
If you have a long term strategic plan it can help you make proactive decisions on its growth. Without one you're more likely to be taking a short term view and simply going with the flow. The plan doesn't have to be complex, but taking time out on a regular basis to think about the long term has to beneficial.
And a good business plan shouldn’t be stuck in a drawer gathering dust! It's a live document that you refer to regularly to monitor your progress against plan.
We can help you develop your long term business strategy. We can:
- Prepare a three-year financial forecast to help translate your business objectives into financial targets
- Facilitate a strategy away day - a great way of getting your head out of the day to day business and spending some quality time thinking about the way forward.
- Prepare a SWOT analysis specific to your business