Useful plans to have in your company

Sometimes the most challenging part of business planning is knowing where to begin and having the resources to do so. Putting together a ‘to do’ list for your business is useful. Having the plans and checklists that enable you to achieve your tasks is even better.

Today we summed up some of the most important plans to have, and gave you some examples on how to start them.

1. A proper business plan

Every business needs a plan if they want to succeed. An effective business plan should be made to match your business’ needs as this helps to define your business direction and create strategies to achieve your goals.

The plan should include a market research summary, where you target your main market and write down its details. It should also include the main information about your business, including its mission and vision as well as its financial details and operational information.

The finances should be discussed in detail as well, as they are the key factory to make a company last and avoid bankruptcy. Also, a properly stated future-plan is inevitable to make and highlight in the planning about the goals and how to achieve them.

2. A marketing plan

If you want to get the word out about your product or service then you need to have a marketing plan. A marketing plan will help you identify your customers, competitors and a strategy making your business stand out.

When you're writing a marketing plan you need to be clear about your objectives and how you will achieve them. A good marketing plan sets clear, realistic and measurable objectives, includes deadlines, provides a budget and allocates responsibilities. A plan can consist of these elements:

• analysis of your current market

• your business objectives

• key strategies

• steps to achieving your objectives

• proposed budget

Remember that your marketing plan should remain an ongoing process throughout the life of your business.

3. Emergency plans

Make sure you protect your business from unexpected disruptions. Identify risks and dangers to your business by developing an emergency plan. A business may be affected by flood, with damage to information systems and most of its assets. Also, it can be a subject of robbery, and it is better to be prepared for these kinds of emergency situations.

Make a list of the possible risks and how to manage them in times of crisis. Make a communication strategy linked to the catastrophe as well, and identify the backup resources for the possible situations.

4. Plan for hiring new employees

Taking on an employee is always a serious task, so it is best to get prepared by writing a detailed plan beforehand. This could help you by giving you a routine in the hiring and integrating process.

Define properly the kind of employee you need for a specific job, and consider how busy the job you need to fill will be, and how long you think you'll need to employ someone for. Depending on the requirements of the job, you might consider taking on permanent employees, whether full-time or part-time or trainees.

You should always be prepared on how much the industry is currently paying for employees and have the resources to offer them the amount. Make sure to know what taxes you need to deduct from the wages and what are the fees you must pay for the state.

Making a business work is a form of art, but with proper planning, it is highly likely to succeed in time, and your work will not be in vain. In our next article, we will continue this topic and we will gather some useful templates to have in your business.

You might also be interested in:

• 5 steps to consider before starting a business

• A guide for documenting business processes

• How to create a document management system that lasts