Planning for these challenges, trends and risks
Spend this week looking at all the possible things that could cause you a problem in your business. Then select the most likely, and also the most serious, and develop an action plan of what you would do to save the day if each situation happened. Write this up into a two-page report for your business plan, listing the potential challenges under the PESTEC headings.
Next, write a short summary of the current trends you actually see in your industry and your marketplace, what these could mean for your business, and what these indicate about the likelihood of the challenges you identified above.
Next, write a section on risks within your plans.
Finally, write about how you will mitigate or manage ...
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