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Six Reasons Why Leaders Should Invest in Business Planning

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Is your 35-page business plan sitting in a file drawer someplace? Do you struggle with daily focus to move your business forward? Having a business strategy isn’t a cliché and it shouldn’t get pushed aside. The primary purpose for developing a business plan is to map out objectives, strategies, and action plans to help you progress towards achieving your goals.

Six reasons why leaders should invest in the planning process:

  1. Leaders know they need to change behavior in order to achieve their most important goals and vision. Don’t get yourself locked into a mindset or organizational culture that is not achieving results. Instead, be bold and consider what behavior needs to change in your organization to achieve your most important goals and move in that direction.
  2. The need for stronger more effective organizational leaders. Winning teams and effective managers are not a matter of chance. It takes hard work, discipline, and a good plan to move you in the right direction. Senior executives and business owners need highly effective programs that strengthen strategic thinking, communication, decision making, execution, and accountability. These programs should improve business and leadership skills while their executives, managers and team leaders are doing business!
  3. Poor communication. Are you being understood? Good communication is essential to any change initiative and having a simple and effective way to cascade strategies made in the boardroom to the entire organization is imperative for success.
  4. The need for the next level of focus and discipline. For success to occur, leaders must have the ability to see the big picture and envision what their success will look like tomorrow. Having a detailed strategy can help you see tomorrow with greater clarity.
  5. Increase your sales by teaching sales people how to think like a business owner. Sales people who do not have a plan are planning to fail. Instead, help them view their sales territory as a business with a clear and precise plan of action.
  6. Develop upwardly mobile professionals and managers to think, plan and execute like an executive. This is a set of skills that takes time to master; the sooner one begins to develop these skills, the more valuable they are as an employee.

A business plan says you take your business seriously and others will take you seriously accordingly. Your business plan is a living document that grows and changes over the lifespan of your business. Your plan should be clear, concise, and understandable, documented on a single page in the quickest and simplest way possible. To find out how to make this happen, schedule a complimentary coaching session with Mike Van Pelt at 864-266-2058 or mvanpelt@ascentleadershipresources.com.