The planning process should be undertaken on an annual basis, with a periodic review during the year so as to ensure that the business is on track to fulfil the targets that have been set in the Business Plan.
Most small and medium enterprises find benefit in a "think tank meeting" which would involve the management team and possibly other team members sitting down to evaluate every component of the businesses operations. This means a Strengths Weaknesses Opportunities and Threats 'SWOT' Analysis would be prepared on the various components of your business plus numerous other questions that would be given in-depth consideration as part of our business planning process.
Succession Planning is something to which every business should give consideration.
Many business owners prepare Succession or Exit Plans regularly so they are in a position to react promptly to any opportunity to change direction in their business.
While succession planning can apply to shareholders, key management personnel and all team members, often the starting point is to concentrate on the key owner / CEO within the business.
If you would like to discuss the development of a Business Plan, Succession Plan or Exit Strategy for your business, please contact us in Ballina, Byron Bay or Lismore.
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