Business Plan Review

 

 

 

 

 

 

 

 

 

 

 

This week’s GOFISH blog is brought to you by our David Baker Foundation Board Member, Natalia Orzechowska.

In the current uncertainty and constant change, developments, news briefings and legislation updates one thing can be predicted: things are going to be different. The lifestyles we are living, social activities we do and the way we do business will change when we get to the end of the tunnel.

We have managed to rapidly adapt our daily routine, the way we are behaving, shopping and thinking about our businesses.

It’s without a doubt that self-employed entrepreneurs will find this a big challenge but as Elon Musk said: ‘’ Some people don’t like change, but you need to embrace change if the alternative is disaster.’’

The sudden stop in the world is an opportunity to reflect and innovate to take your business forwards. This goes back to your business plan.

Please consider the below as brief guidance of how you can make things thrive. You know your business best, give it your best shot.

Planning – be ahead of the competitors when you return to ‘usual’ business which will seem very different. Start looking at how things will have to be done differently to make you stand out.

Review progress – Look back to your business plan and compare you current performance. Your constructive criticism will make you think about how you could be doing things better.

Key areas – Review: finance, marketing, sales, customer relations etc. to allow you to devote your time to most important/ relevant areas.

Competitors – Always consider what others might be planning to gain a competitive edge in your industry.

Communication – Establish a clear communication channel with all suppliers, customers and colleagues, to ensure you’re present and available to assist with anything when your business returns to ‘normality’.

Whether you have made adequate changes to carry on operating or have been forced to come to a complete stop with your business, use this time intelligently and to your advantage.

Wishing you all the best!
Natalia

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