Spending time this week on research in to organisations. Ensuring our contact details are up to date. One question I pondered over?
Why do we only have to publish only our company annual returns, the financial and various liquidity ratio’s and not our strategy and business model.
I understand that its a snapshot of a particular point in time of an organisation with figures to show comparison versus previous years, but no mention of your strategy and business plan, in essence your business model. It is just looking back and not a forward plan for you and your business.
Why do we spend time on past performances, yes they can be a guide to future but that’s the magic word a guide. What I would like and hopefully EU may eventually require organisations to submit your business plan with returns.
You need to examine your strategy for the years ahead. While details may be confidential but how much more than your financials, it will focus you on growing the business. Organisations vary in their analysis and updating of business plans. We all strive to get them completed for our startup advisors, to get enterprise up and running, banks on board with and then lapse into reviewing it.
A reality check, what is your actual performance.
Is your plan buried in the back of filing cabinet or worse?
Your business plan is effective, it highlights areas that you may have examined but not pursued.
Your business model, can analysis your performance, help you step back and observe your processes and methods.
Brian@businessplanners.ie[contact-form-7 404 "Not Found"]