housepainter on Nostr: very wise advice on devising a small business plan. ...
very wise advice on devising a small business plan. https://www.youtube.com/watch?v=P73fnEqsxKw The key is to understand that a business plan should show what you need to do to run your business and make a profit. In this case, follow the plan will deliver 180k profit.
You may well be able to double the targets stated, great, but you are only able to aim for that higher level, once you first reached the goals using the tactics required.
For instance, if you beefed up your initial plan to show a profit of 360k if you do a, b c... it would be a mistake, because to redo the initial business plan, you are putting too much pressure on your business from day one. The likelihood is you will fail to hit the elevated targets, and every day you are drawn into increasing overheads to try reach that higher target. Year end result, you could reach 80% of the elevated turnover goal and be left tired with 150k profit.
You may well be able to double the targets stated, great, but you are only able to aim for that higher level, once you first reached the goals using the tactics required.
For instance, if you beefed up your initial plan to show a profit of 360k if you do a, b c... it would be a mistake, because to redo the initial business plan, you are putting too much pressure on your business from day one. The likelihood is you will fail to hit the elevated targets, and every day you are drawn into increasing overheads to try reach that higher target. Year end result, you could reach 80% of the elevated turnover goal and be left tired with 150k profit.