Research tells us that businesses with a business plan outperform those who don’t.
A good plan gives confidence, focuses energy and becomes a basis to capture good ideas from others. Planning is a process, not a destination, and most of us need help, and to be reminded of the importance of continuing to plan.
Why create a business plan?
An effective business plan lays the blueprint for future business success.
– Writing a business plan helps you organise your thoughts and map out the road to where you want to take your business
– It help align owners, investors and staff
– It demonstrates that you are looking at all the possibilities and gives confidence that you have the best chance of making your business succeed
– It helps you identify opportunities you might not have otherwise recognised – and avoid potentially expensive problems you wouldn’t have otherwise seen coming.
Useful resources to get you started
In dairy, cashflow pressures continue, and farmers need to focus more than ever on what they can control. ANZ’s recent Agri Focus features farmers who have captured cost efficiencies and outlines the key factors that made their plans successful. For these farmers, planning helped with adapting to the challenge of low commodity prices.
ANZ also recently launched a handy farm business plan template and guide to help farmers develop a business plan. This resource will help farmers manage current challenges and map out a pathway to long term success.