One minute read: 3 tips for better business planning
As a small business owner you might be balancing a number of roles. The means it can be difficult to also find the time to think strategically and plan for business growth.
Business planning doesn’t have to be an impossible task. Here are three tips for better – and quicker – business planning.
Become a data driven organisation (easier and quicker than it sounds!)
Data can help you strategically adjust your operations for maximum efficiency.
However, Worldpay research found that one in five small businesses still use nothing more than pen and paper and it’s virtually impossible to extract real insights from paper-based systems. An online planning tool can help you tap into your business data.
Identify consumer trends
Better understanding your customers is vital for planning. Identify trends in customer spending so you can create effective and timely promotions and offers that your customers will really love.
Do you know when transactions are due to clear? Knowing this can help you allocate funds strategically so you know what day you should, for example, be purchasing more stock or paying bills.
Automated online business planning tools like Worldpay’s My Business Dashboard can quickly help you with better business planning. It’s an inexpensive, simple-to-use platform designed to provide the visibility into your finances you need to take control of your business. Log in to find out how My Business Dashboard can help your business grow.