Skilled IT Solutions for Smart and Decisive Choices in Small business

I know the prevailing view among many small business people is that "planning" is for the larger, more substantial business and "they are too busy running their business to have time for planning". Indeed, many small business owners are "too busy" running the business, but they ignore, at their own peril and survival, that "failing to plan is planning to fail."

I am convinced that the small business owner will benefit from engaging in this business planning process because of the nature of carefully examining and thinking through the way their business competes and operates; - and how that will align with their determination of "what business they want to be in".

This business planning process yields a stronger, more profitable business which provides real value to its customers and the marketplace.

The business planning process described in this article is the most logical, pragmatic and practical examination possible of the small business.

Business Planning Process - Eight Major steps

For the past thirty years, I have successfully used the following business and strategic marketing planning process. DEVELOP MISSION AND POSITIONING STATEMENT 2. SITUATION AUDIT a. Internal b. External 3. WOTSUP ANALYSIS 4. DEVELOPING OBJECTIVES 6. STRATEGY DEVELOPMENT 7. MISSION AND POSITIONING STATEMENT

The user defines the mission of any function or business.

collecting pertinent information

interpreting its effect on the business's environments (market conditions)

analyzing significant trends

WOTSUP ANALYSIS

The acronym WOTSUP stands for Weaknesses, Opportunities, Threats and Strengths Underlying Planning.

Assumptions make planning possible. DEVELOPING OBJECTIVES

Overall objectives are the real crux of the Business and Marketing Planning Process.

Eight Steps To The Next Level - The Business Plan, "The Engine of Small Business Development"