Have you reviewed your Annual Plan yet? The year may only be 3 weeks old but your plan could already be out of date.

Take some time today, to review the potential impact these 5 areas could have on your Annual Plan and save yourself a lot of wasted time, money and emotion over the coming months.

1. Probably written four months ago with figures just as old, now is the time to update your AP forecast figures with actual previous year figures – any surprises?

2. Review actual customer performance and trading status – has anything changed?

3. Consider your competition – did any launch new products or services that surprised you and could impact your AP?

4. What are the rumours circulating about your suppliers, how did they trade in the last quarter – are there potential issues that could disrupt your supply chain?

5. New Year and lots of resolutions about finding a new job. Have any of your key staff indicated they are about to leave or even resigned – if so what impact will that have on the AP, and what’s the status of your succession plan?

Review completed it’s now time to get your teams together to present this year’s Annual Plan in the context of last year’s performance and your general strategy.

Since 2013 I have been helping ambitious SMEs with their Strategic and Leadership challenges.

Posted in Annual Plan, Reviewing your Business Plan
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