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    • Action plan

    Making an informed decision about investing in your business

    High effort

    High impact

    Investing is a big decision and many business leaders are hesitant because it might not go to plan. But, without investment, some areas can become ineffective and stagnate. By talking to peers and staff, looking at what support is available, and making a clear business case for new investments, you can make a more informed decision and identify the investments which will have the most impact in the long term.

    • We’ve designed our action plans to be completed in the order of steps laid out and explained why each step is important
    • Customising your action plan lets you set your own completion dates, assign tasks to others and get notifications
    • Helpful tools are provided for certain steps while a tracking metric at the end will help you determine the long-term success of your effort
    • A downloadable PDF version of each action plan is available if you’d like to compete it offline
    What's involved? Ways to use this action plan Measuring impact
    1

    Analyse your business vision and goals and identify the areas that could be better achieved with more investment

    Impact: medium

    Why will this help?

    Some goals naturally take time to reach, others could be fast-tracked with the right investment. Understanding the areas that could benefit most from some additional investment – whether it’s an injection of cash, more staff time or other resources – helps you to start setting some priorities.

    Writing a statement that defines your vision for success

    Defining your vision for success gives you a clear destination to work towards when you’re making decisions and setting goals.
    2

    Reach out to your business network and speak to peers who are a step ahead to see what they did successfully

    Impact: low

    Why will this help?

    All businesses invest in different ways – speaking to peers gives you a fresh perspective on what motivated them to invest in certain areas and the impact it had.

    Building a network from scratch

    Building a network allows you to access advice and guidance from other business leaders and experts. Use our checklist to get started.
    3

    Research sources of external funding, such as grants or finance options

    Impact: high

    Why will this help?

    If your business is eligible for a certain grant it can help you to focus on how a specific area could benefit from some additional funding. Finance options like loans are higher risk, so they encourage you to question what you’re using the money for and why.

    Your story, not your timing, is key to securing funding

    Young companies will often need to have a compelling story if investment to scale and grow is to be secured.
    4

    Survey staff to get their input and feedback to help you make an informed decision about investing in your business

    Impact: high

    Why will this help?

    Your employees understand the nuts and bolts of the business and can tell you where more investment can improve efficiency and even raise morale. Be open to ideas – they may benefit from new equipment, more training or new members of staff.

    Developing an employee feedback survey

    Employee feedback surveys can be used to measure engagement or assess processes like onboarding or career development.
    5

    Make a business case for the new areas of investment you have identified

    Impact: high

    Why will this help?

    It’s easy to find new ways to spend money, but you need to be sure that your investments will work hard for the business. Outlining a business case for each area of investment will give you clarity on which ideas are most likely to be effective in the long-term.

    Your guide to writing a business case

    Writing a business case is a useful way to think a potential project or investment through in a step-by-step manner.

    What can I do with this Action Plan?

    Start this Action Plan

    Add some extra information to this plan and we’ll help you get it done.

    • We’ve designed our action plans to be completed in the order of steps laid out and explained why each step is important
    • Customising your action plan lets you set your own completion dates, assign tasks to others and get notifications
    • Helpful tools are provided for certain steps while a tracking metric at the end will help you determine the long-term success of your effort
    • A downloadable PDF version of each action plan is available if you’d like to compete it offline

    Download and print

    Get a printable template for this Action Plan, fill it in with some target dates, and share it with your team. Pin it on the wall where everyone can see it.

    Get the printable Action Plan

    Learning Groups

    We also run Learning Groups on these topics where you can join other leaders tackling the same challenges.

    Find a Learning Group

    How will I know if my action plan is working?

    Key Performance Indicators (KPIs) results

    Meeting your KPIs demonstrates progress towards your goals

    Why this metric?

    KPIs are a set of business goals that tell you whether you have achieved your goals in a set timeframe.

    How do I start tracking?

    Set your KPIs at the time of investment by asking yourself what would make this investment a success. Make them measurable – such as a five per cent uplift in online sales after a year of employing a new sales director – and revisit them every six months to measure your progress.