Do Business Well

The Business Plan as a Management Tool

Too often, it happens that an elaborate business plan is drawn up for the bank and investors, and then it ends up in a cupboard gathering dust. Instead, you should use the business plan as a management tool to keep track of your progress and benchmark your successes. Obviously, your business plan will also change as you go along. It is a dynamic tool that you should be constantly sharpening and tweaking. So, how can you use your business plan as a management tool? Continue Reading »

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5. Building a solid foundation: infrastructure required to manage your business

Just as you need a solid foundation for a building, so you need theright infrastructure for your business. This needs to be addressed ahead of time. Seriously, many businesses fail because they become too successful. Their infrastructure can’t cope with their growth and so their business literally falls apart. Don’t make that mistake. Clearly define what infrastructure will be required to run your business, both in the short and long-term. Let’s look at the different components of your business infrastructure:

• Premises: What is the physical capacity your business will require? What will be the optimal location for you in terms of closeness to your customers, major roads and the location of the competition.

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