If you want to grow your small business, sooner or later, you’ll hear this advice: “Work ON your business and not just IN it.” In other words, step back from day-to-day tasks and look at the big picture of why you’re doing what you’re doing. One of the best ways to do this can be summed up in two words: “annual plan.”
Every year, in January, I urge entrepreneurs and small business owners to develop an annual business plan for the coming 12 months. Please, get out of your office, shop, or factory and take at least a day to evaluate your strategy, market, operations and priorities for the coming year.
Developing an annual business plan helps you succeed. It saves you time, saves you money, and it might just save your company.
It saved mine. Today, I own a “content creation company.” But my company didn’t start out as one.
In the dot-com boom, I launched an Internet company aimed at reaching the small business market. I’d raised angel financing, hired a great team and had cool offices in the heart of Silicon Valley. More important, we had secured partnerships with leading corporations, including Microsoft, FedEx and Compaq Computer. We were headed for success.
Source: USA Today | Rhonda Abrams