Why a Business Plan Is Important and Where to Start | Episode 017

Why a Business Plan Is Important and Where to Start_FYT

When was the last time you checked your business plan? Most business owners have a plan but are not actively using it. With a business plan, it’s easy to see where your business is heading and how your day-to-day operations should look like. When you utilise your business plan, you don’t have to struggle with setting goals and achieving them. 


For this week’s podcast episode, Barry and Miranda discuss the definition and importance of a business plan. They also explained the three main components that will help you create your plan. They talked about establishing key performance indicators and having a 12-month goal to determine your success for the end of each year.


With this information, you can grow your business and get ahead of your competitors. Stay tuned for today’s episode!

What’s Discussed in This Episode:

0:00 Introduction 

0:26 Initial experience making a business plan

2:13 Importance of a business plan

2:46 What is a business plan

5:19 Create your mission, vision, and values

7:20 How your vision influences the way you run your business

8:04 What is the target of your business

11:22 How to implement the ‘why’ and ‘what’ of your business plan

12:04 Make a 90-day plan

15:09 Accountability

15:51 Simple steps to making a plan


You can also connect with us on Linkedin. For more podcast episodes, you may also visit our website. You can also listen to the Tradie Business School on Apple Podcasts, Spotify, and Google Podcasts.


Thank you for tuning in! 

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