December is National Write a Business Plan Month! Every business owner needs a plan — whether you’re in startup mode, seeking financing or preparing for another year at the helm of a growing business.
Of course, there’s no better time to draw attention to business planning than on the cusp of a new year. We’re all guilty of putting off tasks such as planning, but knuckling down in December can really give your business an advantage over your competitors by putting you in a stronger position to get the financing you need or launch a big marketing campaign come January 1.
If you’re like most, planning is a burden and a chore that’s hard to prioritize. Here are seven tips to kick-start the process:
Focus on What You Do Best
One of the easiest ways to get started with the planning process and make it work for you is to think about what you do best. What differentiates your business from the competition? What do you enjoy doing? What would you like to do more of? Are there other markets you could go after? Then think about what are you not doing enough of.
In other words, put together a SWOT analysis. This exercise can help you focus your ideas and inform your plans.