Latest Clay Shaw Butler column from the Carmarthen Journal

Looking after business, the new business page column from the Carmarthen Journal
By David Butler, of Carmarthen-based accountants and business consultants Clay Shaw Butler

As you would expect from a well-organised and professional newspaper such as the Carmarthen Journal, I was set a deadline to write this column.
As an accountant, I rise to the challenge of deadlines - and always achieve them.
While we all plan our day or week, there are always unexpected occurrences, phone calls, staff and customer queries, unscheduled meetings and urgent family interruptions.
Nevertheless, we all need a plan - and this must be written down.
If a plan is written down, then we have a greater chance of achieving it and ensuring that all involved in the plan get to know the specifics.
It helps us focus on opportunities and heightens our awareness of such opportunities. If you are in business, you need to be fully responsible for the plan, but also involve other key individuals.
Ideally, planning meetings should be carried out away from the office in order that there are no disturbances, enabling all parties to focus on the matter in hand.
The top 10 points are therefore:-
1. A plan must be written.
2. You should have a vision where you want to be in the future.
3. A Mission Statement is required which sets out how we achieve that vision.
4. A long-term strategy is required whereby we need to look at the strengths weaknesses, opportunities and threats for our business.
5. Strategic goals must be set and systems set up.
6. Objectives must be set and be functional, eg. perhaps to reduce the overdraft within 12 months to specified level or to increase turnover by specified amount.
7. There must be ‘smart’ targets, these are Specific, Measurable, Achievable, Relevant and Timely.
8. A marketing implementation plan must be set out which clearly identifies how to meet the goals and who is responsible.
9. The strategy must be communicated with all team members.
10. The plan should be reviewed on a regular basis and adjustments made as required.
This plan can be adapted for personal life as well as business life and there must be some overlap to ensure the work life, sport/hobby balance is correct.
At Clay Shaw Butler, we can do far more than deal with your financial affairs and prepare annual accounts. We can help you with your business plan and be there to advise you when unexpected problems arise.
For more about Clay Shaw Butler, see their website -
http://www.clayshawbutler.com/