Why do so many businesses fail? Our fifth reason for business plan failure is that Nothing Gets Measured.
We've discovered that what you measure gets done. If you're measuring things, people do them. What you measure gets done.
We want to get the results we need and make sure that our actions are getting the results that we desire. We need to measure the results of our actions so that we can determine if our business plan has been effective in growing our business profitably.
It is common knowledge that many businesses don't survive past their first three years. For many, a lack of planning is the key reason leading to their business failure. Fail to plan equals plan to fail.
In this series, we will be looking at this idea of why just having a business plan is not enough. We'll look at five reasons why your business plan will fail.
We will identify and closely examine these reasons that business plans fail. And we're going to look at what you can do to overcome those reasons for failure. Once we have identified the reasons, we'll explore the steps you need to take to achieve your goals by creating an achievable plan of action for your business.
Series Outline:
- Overview of why you need a business plan to be successful
- Business Plan Failure Reason #1
- Business Plan Failure Reason #2
- Business Plan Failure Reason #3
- Business Plan Failure Reason #4
- Business Plan Failure Reason #5
- What Should be in a Business Plan?
- A Successful Approach to Business Planning
Want to find out how Pretium Solutions Chartered Accountants and Certified Business Advisers can help your business? https://pretiumsolutions.com.au/
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Check out The Business Behind Your Business Podcast. Join your host Paul Sweeney and our team of expert advisers as we take a deep dive into the problems (and solutions) faced by business owners.
In our 15 minute podcasts, we’ll discuss information and advice from qualified, experienced professionals to help you create a great business.
Running a business is hard. And no matter how experienced you are in your business you’ll run into unexpected issues. Whatever is happening to your business now, it has likely happened to plenty of business owners before.
The Business Behind Your Business will be bringing the team of expert advisers to you, sharing their experience, tips and case studies to help you run a great business.
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