Driving the Business Plan

Driving the Business Plan

Once the business plan is agreed, it must be brought to life to be truly successful. That means making your business plan central to how the business is run by breaking it down into specific actions for every part of the company.

Step 1: The right structure

Business structure is a key, and often misunderstood, implementation tool for business plans. A well-structured business is split into different divisions or departments – down to individual reporting lines – in such a way as to focus your people resources on the key success drivers.

An effective structure requires the alignment of the knowledge, authority and accountability needed for each critical deliverable. This avoids a situation where the knowledge to make a decision is with one person, but the authority to make it is elsewhere, or, even worse, if the person making the decision is not accountable for that decision. See Case Study

Step 2: The right key goals

Setting key goals and deliverables for each part of the business is a great way to focus individuals on what needs done. If properly set, they are a clear measure of success. See Case Study

Step 3: The right budget

A clear budget that incorporates the goals of the business and focuses resources on the key success drivers is critical to the success of your business plan. As the maxim says, “If you can’t measure it, you can’t manage it.” A good budget focuses the business and gives it numbers to measure itself against.

Step 4: The right focus

Your business plan is your roadmap to achieving your goals, and it should not be left to gather dust in a desk drawer. It needs to be regularly reviewed to measure success and refocus on the goals, as well as amended and updated if required.

A regular process of business review against the plan and the budget is vital to keep the company focused on its goals, and to ensure that you fully understand what is happening within your business. See Case Study

Next: Leadership

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