Being a business owner takes big responsibility. It is your vision which drives the company forward and tells the workforce why it deserves to exist and succeed. It is your goals which motivate and inspire employees to strive harder. Therefore, you’ve got to have a clear idea about what you want and where you’re going with it. Otherwise, the business and its people will be without an aim and direction.
It isn’t always easy to have a clear business plan or vision, even in the short term. At Servcorp, we spend a lot of time working with businesses that are still formulating their identity. These young start-ups may make a few mistakes in the beginning, but they have access to high-end corporate resources, in our virtual facilities which help to make the damage minimal and the lesson valuable.
Our below guide on the importance of planning and preparation will explain why foresight is such an underrated asset for businesses in Hong Kong.
- More Motivation
When you plan things out rigorously with well recorded notes and schedules, the likelihood of success becomes much higher. Part of the reason for this is because writing information down helps to order it within the brain. There is a much better chance that you’ll remember it.
The difference between a great idea and its successful execution depends on your plan and how you intend to bring your idea into fruition. Until you’ve broken down the steps needed to make it tangible, it is nothing more than an interesting thought. Human beings are motivated by practical, achievable goals and this is the crux of what you’re creating when you map out a clear project plan.
- A Shared Vision
For business owners in particular, planning is crucial in order to be able to share your vision with the team. The good news is that Hong Kong people are quite goal oriented and make great employees, as they have faith in what is known as the ‘Lion Rock Spirit’; which means that they will always work hard to be the best possible version of themselves.
However, in order to harness and make the most of the Chinese work ethic, you first need to find a way to clearly communicate your ideas to the company. Planning and scheduling is the best approach, because it formalises information and gives employees a structured set of guidelines to follow, helping to ensure that everybody understands the objectives of a job or task at hand.
- Controlled Spending
The other big benefit of planning and scheduling for small businesses is that it helps you to track and monitor spending. Get into a habit of writing down the different stages involved in a project and attach cost estimates to each. They don’t have to be 100% accurate to start with, but make sure that you pick a reasonable budget.
As time goes on and you get better at project planning, you’ll also get better at coming up with cost estimates. You’ll have greater control over spending, more visibility, and a window into how your capital is being distributed. Alternatively, you could commence with one of our serviced or virtual workspaces and benefit from a consolidated monthly premium.
How Preparing for the Worst Gets You Closer to Success
The beauty of careful business planning is that it makes a company unshakeable. If you are prepared for obstacles and set-backs, you’ll be ready to respond to them proactively, rather than reactively scrambling for a solution. Flexible workspaces are a great asset in this regard, because they can be changed at the drop of a hat. If our tenants suddenly require a change in office conditions or resources, we are going to help them access whatever it is they need. We have the means to flex our services to your unique business needs.
We are the leading virtual office providers in Hong Kong and the world as a whole. We have a presence in over 160 locations worldwide. Whether you’re after a serviced office, a virtual office or a coworking membership, Servcorp Hong Kong is the smart choice to drive a distinguished and prestigious corporate business with confidence and ease. Servcorp is located in some of the best buildings in Hong Kong; Two IFC, Central, Hong Kong Club Building, Central and One Peking Road, Tsim Sha Shui. Start your journey with us today, give us a call on +852 2251 8803, get a free tour and let our dedicated team discuss a tailored flexible workspace solution that will see your business thrive.