Business planning: how to grow your business with your feet on the ground

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Have you ever heard the expression: “for those who don’t know where to go, any road will do”?

If you want to be a good entrepreneur and take your business to new heights, you need to not only know where you want to go, but also draw up a plan to achieve those goals.

And that's where business planning comes in.

This tool will help you think about your business, establish goals and objectives, define plans and put them into practice.

Keep following and learn more about business planning and how to get your ideas off the ground.

Types of Business Planning
Strategic
Strategic business planning is the type of planning that netherlands phone number lead seeks to outline a general strategy for the company, defining where it wants to go and the steps to achieve these objectives.

It must take into account internal and external factors and create goals, mainly in the medium and short term, such as five to ten years.

Check out how to do strategic planning for companies in 5 steps :

Define the mission, vision and values;
Make an analysis of the internal and external environment;
Set goals and objectives – short, medium and long term;
Define an action plan;
Measure and track results.
How to do a market analysis
Tactical
Tactical planning is more objective than strategic planning and aims to analyze what needs to be done to achieve strategic objectives.

It can focus on specific sectors or departments, or on the needs of the business.

Some of the questions that must be answered in tactical planning are:

What goals need to be achieved?
Which employees will be responsible?
Will it be necessary to purchase new equipment or hire a team?
What will the costs be?
What is the deadline?
How will each step be done?
Operational
After mapping out the path in tactical planning, it is necessary to put the ideas into practice.

And that's where operational planning comes in.

It is much more detailed than the previous ones and works as an action plan, representing what will actually be accomplished, generally in a shorter period of time, targeting the coming months.

Financial
Finally, financial business planning is a separate tool and does not follow a flow like previous plans.

It is a document that seeks to keep finances up to date, a continuous cash flow and good working capital.

Even though it is not part of the flow, it is essential for creating other plans, since all business actions depend on a budget to be produced and on a company with good financial health.

We have already explained here how to do the company's financial planning for growth.

tax management
How to put business planning into practice
Studying the market
Always analyze market conditions , the country's financial situation, possible changes in your audience's habits and behavior, your competitors' actions, among other factors that can directly affect your business.

Defining the actions
Planning is the soul of good entrepreneurship.

Make a business plan for your business, establish the necessary actions to achieve your goals and start the action plan!

Time management and productivity: 10 practical tips to apply today
Monitoring goals
To know if a plan is achieving the expected results, it is necessary to monitor all the goals that have been established.

To do this, it is necessary to create achievable goals and real objectives.

Evaluating results and making corrections
You can review your planning every month, two months or six months to assess how your actions are going, whether the results are being achieved and whether any corrections need to be made.

Business planning is not definitive, it can vary due to internal or external business issues.

The important thing is to always observe these variations and define what is best for your business at that moment, without neglecting future planning.