Optimizing Business Planning

41% of Australian practices are currently operating with a well thought out, consciously implemented plan for their business. Here are ten of the top insights we’ve gained from talking to them about their approach to business planning.

  •    1. Start at the beginning: be realistic as to how your practice is placed (comparability to peers) in terms of its key metrics, client satisfaction and staff satisfaction.
  •    2. Form a view of what the market may look like in say three years’ time, and how your practice will look in it.
  •    3. What strategies and actions are needed to help your practice to get to where you want it to be?
  •    4. Document the key decisions including goals, actions, timeframes and who will be responsible for the ‘doing’.
  •    5. You can’t manage what you can’t measure.
  •    6. The plan is not a ' set and forget' exercise, it is always a work in progress.
  •    7. Don’t be afraid to change parts of your plan if they’re not working for you.
  •    8. Regularly track your progress to plan.
  •    9. Share your plan with key staff, centres of influence and other strategic partners. The more people on the same page, the better!
  •    10. Empower someone external to hold you accountable to your plan (and challenge you if necessary) . Could be your BDM, PDM, business coach or board of advice.