It’s nearly the start of a new calendar year and it’s an appropriate time for accountants to be encouraging small/medium enterprise clients to prepare or update their business plans for the forthcoming calendar year.
Business plans are like ‘maps for tourists’. If you don’t know where you’re going to go, how will you know when you get there?
All members of the team should be involved in the business plan process. It’s important that stakeholders have the courage to express their true feelings and opinions on various items and that the team then works together, on an overall basis, to explore the goals of the stakeholders and try to develop an overall plan.
The planning process requires real honesty. Does the review of the goals of the various stakeholders align?