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Statistics New Zealand claim that 50% of Food & Beverage businesses fail in the first 5 years and 70% in 10 years. In most cases business failure is totally avoidable.

A successful friend recently said to me, “Show me your plan and I’ll show you how successful you’ll be.”

Have you got a Business Plan?

Have you got a Business Plan that encourages you forward with its quality and clarity?

Have you got a Business Plan that ensures excellent communication with your employees?

Here are FIVE reasons to create, or improve, your Business Plan:

  1. Having a quality Business Plan channels your focus and stops you doing what you shouldn’t be doing. You are currently spending many hours a week working in a way that is NOT making your business more successful or more enjoyable.
  2. Working from paper is ALWAYS more productive than from your head – there is too much going on in your head! A crowded head creates stress and low-performance.
  3. A Business Plan asks you the questions you don’t want to be asked. You won’t get away with focussing on the aspects of your business you enjoy for long.
  4. Having a clear Business Plan has an enormous impact on employee performance and well-being. If you know what you are trying to achieve they will know what they need to achieve.
  5. Having a Business Plan forces you to take your business seriously and shows others that you are serious. A Business Plan promotes self-confidence and inspires trust from employees, suppliers and customers.

Every underperforming business I have worked with over the last 17 years has either had no Business Plan or a lack-lustre Business Plan. Don’t let that be you.

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07/10/2015 Mrs Hospitality