Last week we talked about setting goals – not too lofty and not too easy but realistic – SMART.

An important piece of this puzzle is establishing a set of goals that are based on realistic and solid assumptions. Try to establish as much factual information as you can get your hands on to develop and support your your thoughts.

For example, if you think you’ll increase sales by 10-12%, look for sales trends in the industry, yours sales area, etc.
If you think you’ll be adding people – try to get payroll information from reliable sources. Try to answer questions to how current events, local and global issues that will affect your business. Be prepared to answer:
  • How will the stock market volatility affect my customers, vendors and service people?
  • Will this have a positive or negative effect on my business?
  • Will China’s or Europe’s crises affect me?
  • Are there some regions that will be affected more than others?
  • Are there opportunities as a result of these events that you can capitalize on?

Assumptions are the heart of a Business Plan; we can’t impress upon you enough to be careful and realistic.

Again, we are here to help you — so take advantage of one free hour of consultation.

Don’t forget, you can download the business plan outline at www.tmgadvisors.net.