Many small to medium business owners are often too preoccupied with the day to day running of their business to be overly concerned with the processes of strategic and business planning. Unfortunately, this is often a fatal mistake. A business plan is your roadmap to success; it provides direction for where you are going and a likely solution for getting there.
Think about this for a moment. Are you clear about your business mission, vision, values and goals? Do you know where you want your business to be in one year, two years, three years and how you will get there? Do your employees know and understand the core values that your business adheres to and do they know what they need to do to uphold these values? Do you understand the trends in your marketplace and how your competitors are managing these trends? If the answer is 'no' to any of these questions, the process of developing a business plan and strategic plan will help.