Business Planning Basics
Business planning does not need to be complicated. A simple plan helps the owner know what to focus on.
Know your current position
Review sales, expenses, profit, stock and cash balances before planning.
Choose clear goals
Goals may include higher sales, lower costs, better stock control or fewer unpaid balances.
Plan actions
Each goal should have practical actions, such as reviewing suppliers or following up invoices.
Review progress
A plan should be checked weekly or monthly.
Good records make business planning more realistic.
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Explore more practical guides for Kenyan businesses covering M-PESA, Cash control, profit, expenses, stock and local business management.