Planning not to fail Failing to plan your business is the first step toward planning to fail. Recording your ideas, plans and strategies is essential given the ongoing sluggish economy when so many business owners are struggling to maintain profitability and cash flow. Planning includes: Taking prudent, calculated risks rather than blindly reacting to events Making the best use of available resources Developing your plan so that you can achieve the lifestyle you want. All businesses plan to some extent, but the planning is often informal and ill defined. You should always set out your plans in writing, because this compels you to define your ideas clearly. The current economy The global economy is perceived by many as being relatively buoyant. In the UK there remains uncertainty over the impact of Brexit and COVID-19. This is a situation we all live with and is a cause of some concern. How do you perceive the UK economy will impact your business? To what extent is the current unc...