Matthew Atkin shares invaluable insights on crafting a meaningful business plan that transcends short-term goals and paves the way for long-term success. In this video, Matthew guides you through the crucial steps of defining the vision for your business, exploring short, medium, and long-term aspirations. Discover the importance of envisioning a business that can thrive independently, allowing you the freedom to choose your level of involvement, whether as a chairman or as a potential business seller.
Video Transcript: Crafting a Meaningful Business Plan
Hello, everybody. My name is Matthew Atkin and what I want to talk to you about today is how to write an effective business plan.
I think the first thing to start with what is the vision for the business? Your vision for the business in the short, medium and long term, what is the business going to look like five years hence? Indeed, it might even be what does the business look like when it’s finished? That is, when the business can work without you and you can make choices about your level of involvement in the business, whether it’s to be a chairman or indeed to end up selling the business. What does the vision for the business look like? From the vision come the goals. What are the goals that we’re going to have to achieve? Quite specific, sometimes just over a short period, three months, maybe a bit longer, over a year, but certainly what is it going to have to achieve and look like five years hence? From the goals? You may find that there are areas that you don’t fully understand as to how you’re going to achieve them. Just because you’ve set yourself a goal doesn’t mean to say you can immediately do it today. You may have to do some learning in order to be able to fulfil that goal. And you undoubtedly will have to train your team. They’ll have to do some learning as well in order to be able to complete those goals. And then, of course, you can write the plan. And much of the benefit of the plan is in the planning as opposed to the plan itself, although we can maintain its relevance by keeping it in a digital format, which we can constantly update. Having written the plan, that’s all very well, this is the plan, but we’ve got to make it happen. So then it’s the interpretation of action.
What’s going to happen, who’s going to do it, who’s responsible for it, what are the resources available to the them when are they going to do it by? So that’s what the plan will contain. It’ll have your goals, who’s responsible, what the specific tasks are and when they’re going to be completed. That way you know that the plan will be effectively executed. If you want to know a bit more about how to write a really good business plan, do send me a message.
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