Eighty percent of all new small and medium sized businesses fail in their first five years
In most instances business failure could have been avoided by proper planning and management. The key to operating a successful business is to have a defined documented strategic plan. Many entrepreneurs develop a strategic plan when starting up a new business but it soon gathers dust as they get immersed in the day-to-day operation of their business. Ideally, the strategic plan should be revisited at least twice a year given the dynamic changing times we live and operate in. What was relevant for a strategic plan six months ago may not be relevant at a future point in time.
No comments:
Post a Comment