Business Builders

Plan for Success

August 12, 2020

Planning is one of the most important parts of running a business!

It can be tempting to disregard it altogether…after all, it can be a time-consuming process. You might even view the time spent planning as a time when you are not earning any money! BUT the benefits of planning far outweigh any negatives.

Planning helps to:

SO where do you start? So what kind of tools can you implement to guide a planning process?

Simply put a good look at your business’s strengths, weaknesses, opportunities, and threats. This is a way to easily measure internal or external influences to you or your business.

Detecting these will help to highlight where you are succeeding, pinpoint areas that need improvement, and, most importantly, help to identify your next steps!

It may seem tedious, but the best thing about this tool is that you can use it in the most effective way for you.

Let’s look at some examples:

STRENGTHS

“I have done a great job of collecting my client’s information for communication!”
Next step: Create a communications plan to target your clients via email blasts, social media, text message marketing.

“In general, we have a very loyal customer base.”
Next step: Consider how you can inspire or motivate those clients to refer their friends! Think social media posts with an incentive, loyalty program, etc.

WEAKNESSES

“My team morale is pretty low since coming back to work.”
Next step: Run a stylist incentive to re-motivate your team and boost morale! Check out this post for some ideas!

“I’ve been avoiding my website for a while now… it’s not great!”
Next step: Set time and resources aside to revamp your website. Need some inspiration? Here

OPPORTUNITIES

“My clients are spending so much more time online!”
Next step: Look into setting up an e-commerce store on your website to retail your products online! This will bring in an additional stream of revenue.

THREATS

“There is so much competition out there!”
Next step: Focus on demonstrating your expertise and the experience you can offer your clients through your communications!

Planning doesn’t mean an Excel spreadsheet or a step-by-step guide of every aspect of your business! It simply means knowing where you are now, where you want to, and HOW you are going to get there!

You Might Also Like

Don't Miss Out

Be the first to get exclusive content, the latest news and more!