The Benefits of Business Planning
It’s 2020 and we’re warming up to a wonderful year ahead. Why are we so confident that it’s going to be a wonderful year? Well, our recipe for success involves one crucial (yet often undervalued) business activity. Planning!
In this Blog entry, we’ll share tip-of-the-iceberg themes attributed to The Benefits of Business Planning. Specifically, a few positive (and proven) pay-offs are:
- BETTER TIME MANAGEMENT
- PROCESS EFFICIENCY
- IMPROVED MORALE
- ENHANCED LEADERSHIP SKILLS
You may be wondering how all of these pay-offs can come from a bit of planning. And you’re probably wondering how to achieve these benefits. Well, we’re happy to share that it’s less complicated than you might imagine. It involves adopting a state of mind that harnesses a little bit of self-discipline, pinch of courage, and a willingness to face facts.
Often, business owners avoid relatively simple planning tasks. Some feel that it takes too much time, others feel that they already know what they’re doing. Occasionally, it’s an additional task time which might feel better spent on other tasks.
We acknowledge that sometimes planning programs (and promises) go into overdrive. Or sometimes, simply drill into far too much detail, much more than is needed! Though we’re confident that a modest approach to planning, pays off dividends. Planning in a holistic manner, offers a noticeable increase in feelings of wellness and organisation, which positively translate in all areas of life.
PLANNING WORKS – IT’S PROVEN
Complex, highly beneficial benefits arise from cyclical planning activities. They also reveal room for improvement in often-ignored areas.
In a literature review on the real benefits of planning entitled ‘The Impact of Planning on Project Success’, researcher Pedro Serrador found ‘unexpectedly consistent empirical results for the correlation of planning quality and success’. Further, we reviewed combined global literature research on the efficacy of planning for success in business, to the same findings – very uplifting!
WHAT DOES PLANNING ACTUALLY DO?
In laymen’s terms, and to get to the point, planning simply allows for a simple yet deep organisational review. It provides an opportunity for the assessment of possibilities, liabilities, goals and limitations. Whether in one sitting (aka a Deep Dive), or consecutively across time, in a planned fashion. It improves your odds at growth, success and continuity (in all areas of life), , and absolutely does not have to be boring, stress inducing, or tedious.
I WANT HELP PLANNING
If you’d like Increased Time at Work and Home, Improved Organisation at Work, Better Workflow in Teams & Groups & Better Communication then send us an Enquiry
We’ve got a Series of Planning Insights, Tips & Free Ideas that your business can adopt and trial immediately, at no cost. Alternatively, we also offer customised Business Coaching, in a 1:1 or Group Setting. Having a reliable resource to bounce ideas off will aid in creating positive for 2020.
Do something good for your business this year, and invest in a solid baseline, with planning.
PARTNER ACCOUNTANCY IS HERE TO HELP
We’re here to help, not just with the numbers, but with all the work, thinking and planning that comes before it. If you’d like to improve aspects of your business but require support, let us know!
The P.A. Team