The most successful companies are always learning, evolving and improving. I am the same – every one of the 25 companies I am advising and the 100+ other boards I have worked with have added to the armoury of knowledge and advice I offer. My experience has left me in no doubt that:
- companies that actively seek out ways to improve grow fastest and most profitably;
- no company has all the answers; and
- the area that has the biggest impact on a company’s success is planning.
I cannot state strongly enough the importance of plans and budgets- I don’t know of a firm that has prospered as much as it could without them and without fail 99% of the plans and budgets that I see, whether for a new or for a larger more mature business, can be significantly improved.
Although envisioning what your business will look like in 3-5 years time may seem too hypothetical to be of value it is fundamental to success even if that vision changes over time. Without that vision you cannot create a robust plan and budget for the year ahead.
If you are struggling with your planning then you might find my basic planning framework useful to get you started. I am more than happy to give a copy of the framework free to any firm that might benefit from it. It is not as robust as the plans that I develop with my clients as those require a lot of discussion and analysis but it will start you down the right track.
Once you have filled out the framework, then I will also happily review your plan and budget (time permitting) for free and with no commitment if you would find that useful.
To request your free three year planning framework simply drop me an email (firstname.lastname@example.org).
Alex Arnot is currently non executive advisor to more than 20 companies and has advised the owners and boards of over 100 companies helping them accelerate headcount, profit and equity value.