As the first decade of the second millennium comes to a close, many businesses look back with a sense of amazement.  In the past five years we’ve never seen so many spectacular profits, nor such unimaginable losses.

It would be nice to just coast into 2010 thankful to have survived. However, those who succeed in the second decade must not relax, but plan. You must take the time to plan what your business will look like in the coming year, the next three years and the next five years.

Twelve months to Recovery

Your initial plan should be only twelve months long, but it must be comprehensive. Look at all aspects of your business. Do you have the number of employees you need and are they performing the job that your require? Consider if you would benefit from a renegotiation with your suppliers. Develop a plan to keep your current customers happy and get new ones. Create a calendar of speeches, articles and appearances to keep your businesses name in the forefront of the market.  Write down the advantages and disadvantages you have against your competition and combat them. Take a fresh look at your offices and consider how to update and refresh them. The last month of the decade is not a time to look back, but a time to look forward.

Five years will seem like a dream

Five years from now we’ll all look back on this year’s recession and say, “I remember when…”. Can you imagine what your business will look like in five years?  What do you want it to look like? Be honest. Is your goal survival or growth?  How will you get there? How many employees will you need?  Will you need more space?  Less?  What will your technological requirements be? How will you finance your plans? Perhaps retirement is in your plan or you have children to put through university.

What has to happen to your business to make your personal goals happen? If your business is still successful, will you continue in it, or sell? How much involvement do you want to have in your business at that point in your life?  Do you still want to be hands-on in every detail, or could you restructure your business to allow more time for fishing? It’s never too soon to think long term.

While everyone else has a holiday focus it’s a great time to plan.