Large companies place resources and focus on strategic planning at least once a year. Small businesses seldom complete a strategic plan. Yet in every way, planning is just as important to a small business as to a large business.

While operating a small business successfully can be very rewarding, the typical small business does not have the staying power financially to weather a business downturn. Avoiding a business downturn requires that business managers not only attend to the day-to-day functions of the business but also have an eye on the horizon so that “bumps in the road” ... Continue Reading