personal business plan report

You’ll also learn the financial benefits investors can reap from putting money into your venture rather than trying to sell them on how great your product or service is.

This business plan guide focuses less on the individual parts of a business plan, and more on the overarching goal of writing one. For that reason, it’s one of my favorites to supplement any template you choose to use. Harvard Business Review’s guide is instrumental for both new and seasoned business owners.

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Top 10 personal business goals examples for 2024.

Do you have a professional development goal? Change can sometimes feel daunting, but it doesn’t have to be an overwhelming task. A lot of successful people set milestones that are specific and measurable to help make a realistic goal become a success. 

Everyone works differently and has other things going on in their lives, so some strategies will work better than others. The main thing is to make sure your goals are achievable while you maintain a healthy work-life balance. If they’re not, you are just setting yourself up for failure. 

One way to improve productivity while reducing stress and finding more time to do the things you love, like spending time with family, is automating processes, like incorporating accounting, planning, and tracking software into your business processes. Doing this will reduce the time and mental space spent on these tasks, allowing you the freedom to work on the creative side of your business or take a day off every once in a while. A good balance between your personal and professional life can make all the difference in your mental health and achieving your professional development goals.

FreshBooks offers a variety of helpful tools that will help you with everything in your professional life, from bookkeeping to client management .  

Click here to learn more about how FreshBooks can improve your overall quality of life and give you more free time to spend away from the computer. 

There are also individual business goals that you can set and achieve that will help you avoid becoming overwhelmed in life. Let’s take a look at the top 10 personal business goals that will help you reach professional success. 

Key Takeaways 

• A healthy work-life balance can help you avoid burnout
• Setting professional development goals and learning new professional skills can help you with your career advancement
• Stepping outside of your comfort zone can help you achieve great results in your professional life
• Being creative and becoming a thought leader can position you at the top of your field
• Keeping the body and mind healthy is the key to stress reduction
• Earning a promotion can be as simple as improving your focus through targeted goal setting
• Knowing your limits while embracing discomfort can help you expand your reach without overextending yourself
• Setting SMART goals is the most effective way to achieve big dreams 

Here’s what we’ll cover:

What Are Professional Development Goals?

The top 10 personal business goals, what are personal development goals for work, how can you achieve your career goals, why set goals for work.

Frequently Asked Questions

A professional development goal is any objective you want to set for yourself that will help you enhance your career. Examples of professional goals include learning new relevant skills, finding more satisfaction in the workplace, expanding your network, leveling up your credentials, or taking up leadership opportunities when presented. 

Some examples of personal goals you may wish to achieve include incorporating self-care into your routine, improving public speaking skills, limiting social media usage, and working to change procrastination habits. 

Both personal and professional development goals can help you get ahead, keeping you productive and up-to-date on new trends, improving networks, and ensuring you build a life that is right for you, so you feel satisfied in your career and life. 

The easiest way to set achievable goals, both in your personal and professional life, is by utilizing the SMART method. This means that the goals you choose should be:

• S PECIFIC, with every step laid out including what needs to be accomplished, and the steps that need to be taken
• M EASURABLE, by setting trackable benchmarks, like specific dates you will practice a new skill, the number of hours a week you allow yourself to spend online, a specific financial saving goal, etc. 
• A CHIEVABLE, starting small and realistically. Don’t set yourself up for failure. Choose something you can definitely accomplish with a little work. 
• R ELEVANT and pertinent to the overall vision. Knowing the “why” behind the goal will keep you motivated, and your goal will keep you moving toward the life you envision for yourself
• T IME-BOUND, as a time parameter, will keep you on track and give you a deadline to hit

When you use the SMART method, achieving personal development goals is much easier. This framework is designed to make goal achievement realistic in both your personal life and your professional career. 

You can throw your own personal spin on goal setting and alter them so they work with your needs. There isn’t a perfect recipe for figuring out which goals to set. You just need to make sure you have achievable goals, and they’re attainable and measurable.

This way, you have the best possible chance of success regardless of your ultimate goal or professional development goal. Here are the top 10 personal business goals you can set and achieve.

1. Improve your Online Image

There can be a thousand moving parts to staying relevant online in today’s digital world. But there are certain things you can do to help improve your online image. One of the first things you should do, if you haven’t already, is make sure you own your domain name. 

It could be your personal or company name, but try to ensure it’s relevant to your business. You can also think about investing in high-quality headshots from a professional photographer. This will help make your social media profiles and website stand out. 

They will also give you something professional to send to organizers if you’re speaking at an event or making another public appearance. As well, spend some time putting together a portfolio of your best work.

You can share it online or post samples to your LinkedIn page. For example, tons of free writing portfolio websites are available that can make it simple and easy to drag and drop documents. 

2. Become a Thought Leader

It’s never too early to start to position yourself as a thought leader or authority in your industry. Reach out and contact appropriate business people to try and moderate or speak on a panel. You can also enquire about appearing on a podcast or a guest blog post. 

Identifying every opportunity you can to share your knowledge and business expertise can have a positive impact in the long run. You can build your credibility and audience and grow into a thought-provoking leader. 

3. Find a New Business Idea

Do you spend a lot of time thinking about your business and ways that you can grow or expand? Some of those ideas might seem far-fetched or out of reach. But why do they have to be? What personal and business goals would you hope to achieve by starting your company? 

Develop a new idea, implement it, and establish yourself as a leader in your field. And you don’t just have to limit yourself to things like industry blogs or social media. You can get inspired by other people’s work and put your own spin on it.

4. Get Comfortable Being Uncomfortable 

It might seem like a bit of a cliche, but getting outside your comfort zone can have many positive benefits. It might seem scary, but doing something drastic like speaking in public or attending networking events can be a good start. You can improve your communication skills and take actionable steps toward personal growth. 

Sometimes getting outside your comfort zone is simply about finding ways to become better, even in the smallest of ways. It also allows you to realize that there are things about yourself you might have underestimated before and helps build emotional intelligence and self-awareness. 

5. Learn a New Skill

Nobody knows everything. There are always opportunities to learn and improve, and learning a new skill is one way to do that. You can meet new people, and there are many free courses and resources online. 

Education doesn’t have to be expensive or time-consuming. Discuss some options with your employer or workplace and see if they offer training. Some of the most desired skills in today’s economy include:

• Excel skills 
• Web development 
• Copywriting 
• Public speaking 
• Google Analytics 
• Digital Marketing 
• Time management  
• Project management

Meeting project management goals, collaborating with your team, and tracking time and expenses is so much simpler using FreshBooks project management software. Click here for a free trial, so you can free up mental space and improve your overall productivity.

6. Monitor and Evaluate Your Health

Keeping your mind and body healthy is integral to staying productive, energetic, and engaged in your work. Go to the dentist, schedule a checkup with your doctor, and take plenty of time for self-care. Get creative with your health goals while recognizing areas where you can take a break, reset, and return with more focus and drive. Sleeping well, eating healthy food, and getting exercise will keep your body fit and help you avoid missing work due to stress and preventable physical health issues. 

7. Start a Side Hustle

Sometimes, long-term goals don’t necessarily improve your company or allow you to increase your skills. Perhaps you want to start a business, work for yourself, or transition into a different industry or business sector. 

A side hustle can help get you there. It can also provide some increased financials that might make it easier to pay off debts or bills if you have any. 

8. Earn a Promotion 

Earning a promotion takes planning, so it’s definitely a long-term goal instead of a short-term one. You can get started now to prepare yourself for any upcoming performance review. Make it a personal work goal to try and exceed any of your previous performance metrics . 

This improvement will demonstrate you have value to the company and you have substantial leadership capability . These are important skills and personality traits businesses want to keep on their team.

Try thinking of some new tasks or projects you could undertake. You could learn new skills or develop relationships outside of business. Whatever it is, it shows initiative and that you are an integral part of the business operations. 

9. Improve Your Focus 

Learning to tune out distractions and avoid downtime can help increase your productivity. Try and turn off your phone or leave it in another room while working. This will leave you less tempted to check notifications and surf through social media. 

It’s difficult to focus when you’re burned out, so try and keep a healthy work and life balance. This will help ensure you’re energized and motivated when you return to work. You can also try and block off certain periods to grab a snack or take a walk to return to your work focused.

10. Boost Your Confidence 

Everyone has moments of doubt and feelings of inadequacy. Try and make some personal goals to improve or boost your confidence. You can ask more questions in meetings or learn to trust your gut and intuition. 

Accepting that you are going to make mistakes is a great place to start. No one is perfect, and making mistakes allows you to learn. You can understand what happened and ensure you make proper adjustments, so it doesn’t happen again in the future. 

Having regular meetings with a project manager or coworker to discuss challenges at work can also make things easier. When details are discussed in the open, it makes them more actionable and real. 

Take a look at some of these personal development goals that can make you even more focused and productive at work.

• Include time for personal interests and hobbies 
• Embrace saying “no” to certain things
• Keep a journal of daily occurrences 
• Volunteer to take a break from the grind of daily business activities  
• Become a mentor to share your expertise with the next generation 
• Improving communication skills
• Better time management skills

Taking the first step to achieve your goals is writing them down. But do you have a plan or strategy to reach your goals? How are you going to get to where you want to go?

Here are five tips to help you achieve your career goals. 

1. Embrace the journey 

It can sometimes take a long time to achieve your career goals, they don’t often happen overnight. It’s important to embrace the experiences along the way instead of being narrowly focused on a singular path. Things can happen differently or unexpectedly, and that’s okay. 

2. Know what you’re willing to sacrifice 

What are you willing to give up or sacrifice to achieve your career goals? For example, if being close to friends and family is important to you, moving far away for a dream job might not work out. Or, if you love to travel, committing to a job that keeps you behind a desk might be a recipe for disaster. You want your career path to be fulfilling, not draining. 

3. Take your struggles in stride

There are going to be rough patches and moments of stress. You can work with a mentor or someone who can help provide advice and solutions to help you get through any struggles. 

4. Give back when you can

Paying it forward is one of those things that have unintended positive results. Help other young professionals or students through mentoring or by offering career advice. Do you remember someone who gave you advice early in your career and how helpful it was? Try and return the favor and give back when you can.

5. Set measurable goals

Goals and milestones are useless if they’re not attainable. Use the SMART goals process, which is an acronym for specific, measurable, achievable, relevant, and time-bound. This framework helps ensure your goals are specific and quantifiable.

Setting achievable work goals will keep you motivated and stop your skills from atrophying. Remaining still in one position for a long period of time can become boring and demotivating for many people, so giving yourself additional challenges will keep you engaged and excited. 

Goal setting is also important because of it:

• This will set you apart from the rest and give you a good reputation amongst higher-ups as somebody who can achieve great things and is not afraid to try new things
• Encourages optimism in the workplace, which can be contagious and lead to a happier and healthier workplace for everybody 
• Helps you manage your time effectively and better focus on relevant tasks
• Keeps you up to date on industry trends and keeps you employable as technology changes
• Keeps your team aligned, which leads to faster growth in small businesses 

Balancing work and personal life can become stressful. You want to ensure you are delivering on your tasks and responsibilities at work, but you also want to have time at home with friends and family. It can sometimes be even more difficult to try and set personal business goals to achieve. 

The good news is that there are tons of things that you can do to help you set your goals and ultimately achieve them. Becoming a thought leader, generating new business ideas, or improving your focus are just goals you can set and achieve. When you are figuring out which goals you want to set, it’s important to make sure that they’re attainable and specific. If they’re not, your journey to achieving them will become bumpy and likely have some detours. Use the SMART acronym to help make sure your goals are quantifiable and contribute to your growth mindset. 

Did you enjoy reading this guide? Head over to our leadership category for more great content!

FAQs on Personal Business Goals

How do you write a personal goal for a business.

When writing a personal goal for your business, it is important to identify your objective, or the “why” behind the goal, to discover what success will mean to you. Using the SMART (specific, measurable, achievable, relevant, and time-based) acronym will help with this step. 

Next, you will need to create a plan that can be broken down into small, actionable steps and milestones. This way, you can measure how far you have come toward the goal and make adjustments if necessary. Monitoring your progress and reviewing the plan regularly will keep you on track. 

What is a typical business goal?

Business goals vary between industries but will be specific, measurable, achievable, relevant, and time-based. Some common business goals include increasing shareholder value, growing the business, incorporating new services or products, reducing employee turnover, or reaching out to the community. The goal is to keep the business continually progressing and improving.

What are personal and professional goals?

Both personal and professional goals are objectives that can be worked toward in order to improve quality of life in some way. Personal goals often pertain to a person’s lifestyle and family life, while professional goals are aspirations that can help you succeed in your career or improve your workplace performance. 

What goals can I set for myself?

Some goals you can set that will help you in your personal and professional life include things like improving your time management , limiting internet usage, taking better care of your physical and mental health, achieving specific financial goals, stepping outside of your comfort zone, or learning new skills. 

What personal and business goals would you hope to achieve by starting your company?

When thinking about starting your own company, what are the goals you want to achieve? Some common answers to this question include financial freedom, early retirement, making a career change, professional growth, having flexible hours, and having a better work-life balance . 

You will have to think about your own life and what you hope to gain from starting your own company. Will it bring you a higher sense of satisfaction to work for yourself? Will you enjoy having more control over the business end of things?

Kristen Slavin, CPA

About the author

Kristen Slavin is a CPA with 16 years of experience, specializing in accounting, bookkeeping, and tax services for small businesses. A member of the CPA Association of BC, she also holds a Master’s Degree in Business Administration from Simon Fraser University. In her spare time, Kristen enjoys camping, hiking, and road tripping with her husband and two children. In 2022 Kristen founded K10 Accounting. The firm offers bookkeeping and accounting services for business and personal needs, as well as ERP consulting and audit assistance.

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How to Write a Business Report: A Step By Step Guide with Examples

Table of contents

To see what Databox can do for you, including how it helps you track and visualize your performance data in real-time, check out our home page. Click here .

With so much experience under your belt, you already know a lot about business reporting.

So, we don’t want to waste your time pointing out the obvious because we know what you need.

Secrets. Tricks. Best practices.sales rep drilldown business report

The answer to how to write a mind-blowing business report that you don’t need to spend hours and days writing.

A business report that will immediately allow you to identify your strengths and weaknesses.

A report that’ll help you learn more about your business and do more accurate forecasting and planning for the future.

We believe we have just that right here.

With this comprehensive guide, you’ll create effective sales, analytical, and informative business reports (and business dashboards ) that will help you improve your strategies, achieve your goals, and grow your business.

So, let’s dive in.

What Is a Business Report?

Importance of creating business reports, types of business reports, what should be included in a business report, how to write a business report: an 11-step guide.

• Business Report Examples

Although there’s a variety of business reports that differ in many aspects, in short, a business report definition would be the following:

A business report is an informative document that contains important data such as facts, analyses, research findings, and statistics about a business with the goal to make this information accessible to people within a company.

Their main purpose is to facilitate the decision-making process related to the future of the business, as well as to maintain effective communication between people who create the reports and those they report to.

A good business report is concise and well-organized, looks professional, and displays the relevant data you can act on. The point is to reflect upon what you’ve achieved so far (typically, over the past month, quarter or year) and to use the data to create a new strategy or adjust the current one to reach even more business goals.

Business reports should be objective and based on the data. When stating the facts, people rely on numbers rather than giving descriptions. For instance, instead of saying “our conversion rate skyrocketed”, you would display the exact percentages that back up that claim.

Business reporting matters for several reasons, among which the most important ones are:

Recognizing Opportunities to Grow

Detecting issues and solving them quickly, evaluating a potential partner, having a paper trail, keeping things transparent for the stakeholders, setting new company goals.

In fact, over half of the companies that contributed to Databox’s state of business reporting research confirmed that regular monitoring and reporting brought them significant concrete benefits.

If you never look back at what you’ve achieved, you can’t figure out what you’ve done well and what you can leverage in the future for even better results.

When you analyze a specific aspect of your business over a specific time period and present the data you gathered in a report, you can detect an opportunity to grow more easily because you have all the information in one place and organized neatly.

Is it time to introduce new products or services? Is there a way to enhance your marketing strategy? Prepare a report. Can you optimize your finances? Write a financial business report . Whatever decision you need to make, it’s easier when you base it on a report.

Reports are essential for crisis management because they can introduce a sense of calmness into your team. Putting everything on paper makes it easier to encompass all the relevant information and when you know all the facts, you can make a more accurate and effective decision about what to do next.

Writing business reports regularly will also help you identify potential issues or risks and act timely to prevent damage and stop it from escalating. That’s why monthly reporting is better than doing it only once a year.

Having an insight into your finances , operations and other business aspects more regularly allows you to have better control over them and mitigate potential risks more effectively.

Different types of business reports may be accessible to the general public. And if they’re not, specific situations may require a company to send them over to the person requesting them. That may happen if you’re considering a partnership with another company. Before making the final decision, you should learn about their financial health as every partnership poses a certain risk for your finances and/or reputation. Will this decision be profitable?

Having an insight into a company’s business report helps you establish vital business relationships. And it goes the other way around – any potential partner can request that you pull a business report for them to see, so writing business reports can help you prove you’re a suitable business partner.

In business, and especially in large companies, it’s easy to misplace information when it’s communicated verbally. Having a written report about any aspect of your business doesn’t only prevent you from losing important data, but it also helps you keep records so you can return to them at any given moment and use them in the future.

That’s why it’s always good to have a paper trail of anything important you want to share with colleagues, managers, clients, or investors. Nowadays, of course, it doesn’t have to literally be a paper trail, since we keep the data in electronic form.

Writing business reports helps you keep things transparent for the stakeholders, which is the foundation of efficient communication between these two sides.

You typically need to report to different people – sometimes they’re your managers, sometimes they’re a client. But your company’s stakeholders will also require an insight into the performance of your business, and relying on reports will help you maintain favorable business relationships. A business report shows you clearly how your company is performing and there isn’t room for manipulation.

Once you set business goals and the KPIs that help you track your progress towards them, you should remember they’re not set in stone. From time to time, you’ll need to revisit your goals and critical metrics and determine whether they’re still relevant.

When you write a business report and go through it with your team members or managers, you have a chance to do just that and determine if you’re efficient in reaching your goals. Sometimes, new insights will come up while writing these reports and help you identify new objectives that may have emerged.

Depending on your goals and needs, you’ll be writing different types of business reports. Here are five basic types of business reports .

Informational Report

Analytical report, research report, explanatory report, progress report.

Informational reports provide you with strictly objective data without getting into the details, such as explaining why something happened or what the result may be – just pure facts.

An example of this type of business report is a statement where you describe a department within your company: the report contains the list of people working in this department, what their titles are, and what they’re responsible for.

Another example related to a company’s website could look like this Google Analytics website traffic engagement report . As we explained above, this report shows objective data without getting too much into the details, so in this case, just the most important website engagement metrics such as average session duration, bounce rate, sessions, sessions by channel, and so on. Overall, you can use this report to monitor your website traffic, see which keywords are most successful, or how many returning users you have, but without further, in-depth analysis.

Analytical reports help you understand the data you’ve collected and plan for the future based on these insights. You can’t make business decisions based on facts only, so analytical reports are crucial for the decision-making process.

This type of business report is commonly used for sales forecasting. For instance, if you write a report where you identify a drop or an increase in sales, you’ll want to find out why it happened. This HubSpot’s sales analytics report is a good example of what metrics should be included in such a report, like average revenue per new client or average time to close the deal. You can find more web analytics dashboard examples here.

From these business reports, you can find out if you will reach your goals by implementing your current strategy or if you need to make adjustments.

Research is critical when you’re about to introduce a change to your business. Whether it’s a new strategy or a new partner, you need an extensive report to have an overview of all important details. These reports usually analyze new target markets and competition, and contain a lot of statistical data.

While not the same, here is an example of an ecommerce dashboard that could help track each part of a campaign in detail, no matter whether you are launching a new product, testing a new strategy, and similar. Similar to a research report, it contains key data on your audience (target market), shows your top-selling products, conversion rate and more. If you are an online store owner who is using paid ads, you can rely on this report to monitor key online sales stats in line with Facebook Ads and Google Analytics. See more ecommerce dashboards here.

As you might guess from its name, you write the explanatory report when it’s necessary for you to explain a specific situation or a project you’ve done to your team members. It’s important to write this report in a way that everyone will be able to understand.

Explanatory reports include elements like research results, reasons and goals of the research, facts, methodology, and more. While not exactly an explanatory report, this example of a HubSpot marketing drilldown report is the closest thing to it, as it helps marketers drill into an individual landing page performance, and identify how good their best landing pages are at converting, or which ones have the best performance.

A progress report is actually an update for your manager or client – it informs them about where you stand at the moment and how things are going. It’s like a checkpoint on your way towards your goal.

These reports may be the least demanding to write since you don’t need to do comprehensive research before submitting them. You just need to sum up your progress up to the point when the report was requested. This business report may include your current results, the strategy you’re implementing, the obstacles you’ve come across, etc. If this is a marketing progress report you can use marketing report templates to provide a more comprehensive overview.

In many companies, progress reports are done on a weekly or even daily basis. Here is an example of a daily sales report from Databox. HubSpot users can rely on this sales rep drilldown business report to see how individual each sales rep is performing and measure performance against goals. Browse through all our KPI dashboards here.

What does a great business report look like? If you’re not sure what sections your report should have, you’ll learn what to include in the following lines.

Business Report Formatting

Different types of reports require different lengths and structures, so your business report format may depend on what elements your report needs to have. For example, progress reports are typically pretty simple, while analytical or explanatory reports are a different story.

However, most reports will start with a title and a table of contents, so the person reading the report knows what to expect. Then, add a summary and move on to the introduction. After you’ve written the body and the conclusion, don’t forget to include suggestions based on your findings that will help your team create an actionable plan as you move forward.

After that, list the references you used while creating the report, and attach any additional documents or images that can help the person reading the report understand it better.

This outline may vary depending on what kind of report you’re writing. Short business reports may not need a table of contents, and informative reports won’t contain any analyses. Also, less formal reports don’t need to follow a strict structure in every situation.

Business Report Contents

When it comes to the contents of your report, keep in mind the person who’s going to read it and try to balance between including all the relevant information, but not overwhelming the reader with too many details.

• The introduction to the report should state the reason why you’re writing it, and what its main goal is. Also, mention what methodology and reporting software you’ve used, if applicable.
• The body of the report is where you’ll expose all your key findings, explain your methodology, share the important data and statistics, and present your results and conclusion.
• The conclusion , similarly to the summary you’ll add at the beginning of the report, briefly singles out the most important points and findings of the report.

If you decide to include more sections like recommendations, this is where you’ll suggest the next steps your team or the company may want to take to improve the results or take advantage of them if they’re favorable.

PRO TIP: Are You Tracking the Right Metrics for Your SaaS Company?

As a SaaS business leader, there’s no shortage of metrics you could be monitoring, but the real question is, which metrics should you be paying most attention to? To monitor the health of your SaaS business, you want to identify any obstacles to growth and determine which elements of your growth strategy require improvements. To do that, you can track the following key metrics in a convenient dashboard with data from Profitwell:

• Recurring Revenue. See the portion of your company’s revenue that is expected to grow month-over-month.
• MRR overview. View the different contributions to and losses from MRR from different kinds of customer engagements.
• Customer overview . View the total number of clients your company has at any given point in time and the gains and losses from different customer transactions.
• Growth Overview . Summarize all of the different kinds of customer transactions and their impact on revenue growth.
• Churn overview. Measure the number and percentage of customers or subscribers you lost during a given time period.

If you want to track these in ProfitWell, you can do it easily by building a plug-and-play dashboard that takes your customer data from ProfitWell and automatically visualizes the right metrics to allow you to monitor your SaaS revenue performance at a glance.

You can easily set it up in just a few clicks – no coding required.

To set up the dashboard, follow these 3 simple steps:

Step 1: Get the template 

Step 2: Connect your Profitwell account with Databox. 

Step 3: Watch your dashboard populate in seconds.

Note : Other than text, make sure you include images, graphs, charts, and tables. These elements will make your report more readable and illustrate your points.

Whether you’re writing a specific type of business report for the first time or you simply want to improve the quality of your reports, make sure you follow this comprehensive guide to writing an effective business report.

• Do Your Research
• Create an Outline
• Determine Formatting Guidelines
• Think of an Engaging Title
• Write the Introduction
• Divide the Body of the Report into Sections
• Choose Illustrations
• Conclude Effectively
• Gather Additional Documentation
• Add a Summary
• Proofread Your Work

Step 1: Do Your Research

A well-planned report is a job half done. That means you need to do research before you start writing: you need to know who you’re writing for and how much they know about the topic of your report. You need to explore the best business dashboard software and templates you can use for your report.

Also, if you believe you will need additional resources and documents to add in the appendix, you should do it during this phase of report writing.

Step 2: Create an Outline

Once you’ve gathered the resources, it’s time to plan the report. Before you start writing, create an outline that will help you stick to the right structure. A business report is complex writing in which you can get lost very easily if you don’t have a clear plan.

Moreover, the report shouldn’t be complicated to read, so sticking to a plan will allow you to keep it concise and clear, without straying from the topic.

Step 3: Determine Formatting Guidelines

Most companies have their in-house formatting that every official document has to follow. If you’re not sure if such rules exist in your company, it’s time you checked with your managers.

If there arent’ any guidelines regarding formatting, make sure you set your own rules to make the report look professional. Choose a simple and readable format and make sure it supports all the symbols you may need to use in the report. Set up proper headings, spacing, and all the other elements you may need in Word or Google Docs.

Pro tip: Google Docs may be easier to share with people who are supposed to read your business report.

Step 4: Think of an Engaging Title

Even if you’re writing a formal business report, the title should be clear and engaging. Reports are typically considered dull as they’re a part of official business documentation, but there’s no reason why you can’t make them interesting to read. Your title should suit the report topic and be in different font size so the reader can recognize it’s a title. Underneath the title, you should add the name of the author of the report.

Step 5: Write the Introduction

A good introductory paragraph for a business report should explain to the reader why you’ve written the report. Use the introduction to provide a bit of background on the report’s topic and mention the past results if there’s been a significant improvement since your last report.

Step 6: Divide the Body of the Report into Sections

As this will be the most comprehensive part of your report, make sure you separate the data into logical sections. Your report is supposed to tell a story about your business, and these sections (such as methodology, hypothesis, survey, findings, and more) will help the data look well-organized and easy to read.

Step 7: Choose Illustrations

Of course, each of these sections should be followed with charts, graphs, tables, or other illustrations that help you make a point. Survey results are typically best displayed in pie charts and graphs, and these enable the reader to visualize the data better. From the formatting point of view, breaking the long text sections with illustrations makes the report more readable.

Pro tip: Using centralized dashboard solutions like Databox can bring your reporting game to the next level. Sign up for a forever-free trial now to see how you can use Databox to track and visualize performance easier than ever before .

Step 8: Conclude Effectively

Finish your report with a to-the-point conclusion that will highlight all the main data from the report. Make sure it’s not too long, as it’s supposed to be a summary of the body of the report. In case you don’t want to add a specific section for recommendations, this is where you can include them, along with your assessments.

Step 9: Gather Additional Documentation

If you’ve determined what additional documents, images, surveys, or other attachments you may need for your report, now is the time to collect them. Request access to those you may not be able to get on time, so you have everything you need by the deadline. Copy the documents you can use in the original form, and scan the documents you need in electronic format.

Step 10: Add a Summary

The summary is usually at the top of the report, but it’s actually something you should write after your report is completed. Only then will you know exactly what your most relevant information and findings are, so you can include them in this brief paragraph that summarizes your report’s main points.

The summary should tell the reader about the objective of the report, the methodology used, and even mention some of the key findings and conclusions.

Step 11: Proofread Your Work

It may seem like common sense, but this final step of the process is often overlooked. Proofreading your work is how you make sure your report will look professional because errors can ruin the overall impression the reader will form about your work, no matter how great the report is.

Look for any spelling or grammatical mistakes you can fix, and if you’re not sure about specific expressions or terminology, use Google to double-check it. Make sure your writing is to-the-point and clear, especially if you’re writing for people who may not know the industry so well. Also, double-check the facts and numbers you’ve included in the report before you send it out or start your reporting meeting.

Business Report Examples (with Ready-to-Use Templates)

Here, we’re sharing a few business reporting examples that you can copy, along with ready-to-use and free-to-download templates. If you don’t know where to start and what to include in different types of business reports, these business report examples are a great way to get started or at least get some inspiration to create yours.

Activity Report Example

Annual report example, project status report example, financial report example, sales report example, marketing report example.

Note : Each of the business report templates shared below can be customized to fit your individual needs with our DIY Dashboard Designer . No coding or design skills are necessary.

For reporting on sales activity, HubSpot users can rely this streamlined sales activity report that includes key sales metrics, such as calls, meetings, or emails logged by owner. This way, you can easily track the number of calls, meetings, and emails for each sales rep and identify potential leaks in your sales funnel. Check all our sales team activity dashboards here. Or if you are looking for dashboards that track general sales performance, browse through all Databox sales dashboards here.

If you’re preparing for annual reporting, you will benefit from choosing this HubSpot annual performance report . It contains all the relevant metrics, such as email and landing page performance, new contacts, top blog posts by page views, and more. See all our performance dashboard templates here.

Project status reports can be very similar to progress reports. If you’re in need of one of those, here’s an example of a Project overview dashboard from Harvest that shows that can help you create simple, but well-organized report based on metrics that matter: hours tracked, billable hours, billable amount split by team members., and more. Check out more project management dashboard templates we offer here.

Are you creating a financial report? You will find this QuickBooks + HubSpot integration a great choice for a financial performance dashboard that makes creating a report simple. This dashboard focuses on the essential financial report

ting metrics and answers all your revenue-related questions. See all Databox financial dashboards here.

If you’re tracking your sales team’s monthly performance, this sales report template will help you prepare an outstanding report. Check out all the vital productivity KPIs, track your progress towards your goals, and understand well how your current sales pipeline is performing. See all sales performance dashboards we have available here.

Marketing reports can be easily prepared by using this monthly marketing report template . With HubSpot’s reporting, you can determine where your website traffic is coming from, how your landing pages and specific blog posts are performing, and how successful your email campaigns are. Browse all Databox marketing dashboards or marketing report examples here.

Create a Professional Business Report in No Time with Databox

Does creating a business report still sound like a daunting task? It doesn’t have to be with Databox.

In times when we’re all trying to save our time and energy for things that matter rather than scattering valuable resources on tedious, repetitive tasks, it’s critical to optimize your business process. And we want to help you do just that.

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Automating business reporting has never been easier. And with Databox, you can do exactly that in just a few clicks. Sign up now and get your first 3 business dashboards for free.

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How to Craft a Personal Development Plan that Inspires Meaningful, Long-Term Results

Overview : This in-depth guide provides a comprehensive 7-step roadmap to create a customized personal development plan template to help you actualize your true potential. It also provides a personal development plan template you can use (with examples).

______________

I leaped into the personal development world with a copy of Tony Robbins’ Personal Power program in the early 1990s.

If you’re old enough and living in the States, you know the one I’m talking about (late-night infomercials).

I was 18, and this audio program made a measurable difference in my outlook and behavior.

From that moment onward, I was hooked on personal development.

I jumped from seminar to seminar, book to book. Investing every possible moment I had, I covered a lot of ground in my first five years.

Reflecting over 30 years on my journey, I now see I was missing several vital ingredients essential for long-term, healthy development back then.

In this guide, I will share with you lessons learned and provide a roadmap for crafting a powerful Personal Development Plan. (Also, toward the bottom of the guide, you can download a personal development plan template and an example plan.)

Let’s dive in …

What is a Personal Development Plan?

A personal development plan is like a business plan for an individual. A personal development plan creates a roadmap for an individual’s growth in key categories of life and work.

There’s no set formula or template for creating a personal development plan.

Your plan can be a half-page, a full-page, or 20 pages long. It’s entirely up to you.

To clarify, “individual development plans” are generally more geared toward career development than a personal development plan (or “self-development plan”), but they all share common attributes.

The primary question a Personal Development Plan helps answer is:

Where am I going to place my available time and attention?

Personal Development Definitions

If you examine most people over a decade, you’ll observe little or no change in their development and behavior.

Development implies a permanent change in the structure of your being including your body, brain, or consciousness.

Just because you adopt a new habit , for example, doesn’t mean you have or will grow from it. If this new habit leads to internal growth over time , however, it will facilitate your development.

It’s all too easy to believe we’re developing when we’re not. I know I deceived myself for many years and there’s evidence of this throughout personal development communities.

Reading books in this genre, for example, doesn’t mean you’re developing. You might just be acquiring more ideas.

Personal development books can potentially provide a roadmap for development in certain areas, but real development comes through practice and repetition .

Our behavior and the development of skills, aptitudes, and desired tendencies are where we can observe signs of permanent change.

Personal Development Is Not Self Help

Self-help implies there’s something wrong with us.

The multi-billion-dollar self-help industry profits by subconsciously communicating these “deficiencies” to its unsuspecting audience.

Actual personal development is how humans realize more of their innate potential.

In an ideal environment, this process happens naturally .

Because this perfect environment doesn’t exist in society, the call for personal development is an individual’s choice. It’s up to each individual to say “yes” to their hero’s journey .

Why Personal Development Plans Are Important

When you don’t have a vision, a plan, or a goal, where does your attention go?

For most people, attention goes to entertainment and distraction. Sight, sound, and motion captivate our brains.

Television series, films, video games, social media, sports, and stock prices hook the primitive parts of our brains.

Even if you’re an overachiever who defines yourself by accomplishments and external status, your attention likely gets fixated on more work, higher productivity, and making more money. That’s fine, but this effort doesn’t necessarily support our personal development goals.

When entertainment, distraction, and workaholism consume our attention, something doesn’t feel right within us.

We may not identify it, but a deeper part of us isn’t fulfilled.

Focusing on Growth Needs

Psychologist Abraham Maslow noted that when individuals mainly focus on meeting their basic human needs like physiological needs, security, fitting in, and being liked and respected, they become neurotic.

Self-actualizing individuals, in contrast, are more focused on their growth needs.

Their motivation stems from an internal directive called intrinsic motivation instead of being driven by external forces. (All of our basic human needs are external.)

To have a full and meaningful life requires us to open to deeper aspects of ourselves.

A personal development plan can help us do just that.

But most people don’t know what’s available to them. I certainly wasn’t aware of the options when I started my journey.

Youthful enthusiasm and naivete guided those early years.

If you go to personal development seminars or read books in this genre, you may only think within the confines of the illustrations these resources provide.

7-Step Roadmap to Creating Your Personal Development Plan

Before we jump in, here’s a quick overview of the steps for creating your personal development plan:

Step 1: Discover the Human Potential Landscape Step 2: Envision Your Future Self Step 3: Select your Current Areas of Focus Step 4: Determine Your Key Practices Step 5: Establish Personal Development Goals Step 6: Set Your Schedule for Deliberate Practice Step 7: Monitor Your Ongoing Progress

Step 1 is what’s missing from many people’s approach to personal development.

So we’ll start our journey with a larger vision for our human potential.

Note : Toward the bottom of this guide, you can download a personal development plan template based on this roadmap.

STEP 1: Discover the Personal Development Landscape

One thing I was missing from my personal development journey was a roadmap of the terrain. How can you navigate through your development without a map?

Every good explorer has one. Such a map shines a much-needed light on the diverse areas of our potential.

A reliable map of human potential wasn’t readily available in the early 90s.

The fields of transpersonal psychology, developmental psychology, integral theory, and neuroscience, however, were converging on one.

Theorist Ken Wilber played a major role in synthesizing many fields of research into a cohesive whole.

Personal Development Categories

In my experience, I’ve found it helps to take an integrated approach to your personal development plan.

That is, know your menu of options so you can select from multiple areas that interest you.

To create a map for our development, we need to know the categories available to us. These categories include:

• Lines of Intelligence (also called Streams of Development)

Skill Development

Major life categories, behavioral change, personality development.

Let’s look at each of these categories in more detail.

Available Lines of Intelligence

While we used to associate “intelligence” with IQ; we now know there are many forms of intelligence.

One popular model comes from the pioneering work of Harvard psychologist Howard Gardner and his Multiple Intelligence theory. 1 Gardner, Frames of Mind: The Theory of Multiple Intelligences , 2011.

In Gardner’s model, there are now nine lines of intelligence:

Logical-mathematical intelligence : logic, abstractions, reasoning, numbers, and critical thinking. This intelligence is associated with IQ and intellectual aptitude. This line is also referred to as cognitive intelligence as explored in Jean Piaget’s research.

Linguistic intelligence : words, languages, reading, writing, telling stories, and memorizing words.

Intrapersonal intelligence : to know oneself including one’s strengths and weaknesses, emotional triggers, and motivations. One’s ability to be introspective and self-reflective. Psychologist Daniel Goleman popularized this as  Emotional Intelligence .

Kinesthetic intelligence : one’s ability to control one’s body and one’s skill in using it. Also called body intelligence or body-mind connection.

Musical intelligence :  sensitivity to sounds, pitch, rhythms, tones, meter, melody, etc.

Visual-spatial intelligence : spatial judgment and the ability to visualize and imagine with the mind’s eye.

Interpersonal intelligence : sensitivity to others’ moods, feelings, temperaments, motivations, and their ability to cooperate with others. Goleman popularized this as  Social Intelligence .

Naturalistic intelligence : sensitivity to one’s environment; the ability to recognize flora and fauna; nurturing and relating to one’s natural surroundings.

Existential intelligence : sometimes called spiritual intelligence; relates to one’s understanding of oneself concerning reality or the cosmos.

Integral Theory’s “AQAL” Model of Human Development

Additional Perspectives from Developmental Research

Other developmental researchers have studied the stages of growth in morals, values, worldviews, emotions, contemplation, spirituality, needs, and psycho-sexual development.

Do you see the diverse range of our potential?

In  Integral Life Practice , Ken Wilber, et al. group these “streams of development” into four categories:

• Cognitive development
• Self-related intelligence (including basic human needs , morals, values, and self-identity)
• Talent lines of development (including musical, visual-spatial, mathematical, and kinesthetic)
• Everything else (including spiritual, aesthetic, emotional, psychosexual, and interpersonal)

We each have a different base level of development in each line of intelligence and an innate potential we can realize through deliberate practice.

Our environment often thwarts this potential in early childhood. As adults, our responsibility is to resume this upward march. A personal development plan can help us with that!

Skill development is a broad category that includes areas where you show interest and/or ability. You can develop skills for personal or professional reasons.

There are skills in problem-solving , communication , collaborating, drawing, computer programming, bookkeeping, writing, analyzing, martial arts, persuading, musical instruments, negotiating, learning , presenting, goal setting, listening, managing, planning, reasoning, and predicting, to name only a few.

All skills are associated with at least one line of intelligence listed above. With sufficient interest, practice, and the right methods, individuals can develop any skill.

One way to get more clarity on your natural skills is to take the free VIA Character Strength survey . Your natural strengths often translate to specific skills.

The Wheel of Life Exercise

In your pursuit of personal development, you may have come across the Wheel of Life .

The Wheel of Life is a standard tool that coaches use to illustrate the various categories of one’s life, measure an individual’s status in each area, and set goals to improve in those areas.

Your wheel might include physical health, relationships, social, finances , professional, personal growth, spirituality , creativity , and fun.

The message behind the Wheel of Life is that development occurs through conscious effort and being intentional about how you grow within these key categories.

Who doesn’t have behaviors they would like to change?

We all have set patterns of behavior that get entrenched by unconscious repetition.

Making positive changes to these habits requires repatterning the brain.

For lasting change to occur, we repeat the new habit or behavior over time under various conditions.

The time necessary to install a new habit varies; research suggests it takes 66 days on average. 2 https://www.spring.org.uk/2009/09/how-long-to-form-a-habit.php I’ve found that it’s usually much less.

Why do many personal development programs fail to produce long-term results? Because these programs are “one size fits all.”

Research shows there is a range of psychological types. In the Enneagram system, there are nine primary types and nine levels of development within each one.

Each type has varying propensities, habitual patterns, strengths, weaknesses, fears, and potentials.

If you want to create an effective Personal Development Plan, be sure you’re aware of your psychological type. Each type has a different pathway to higher development.

As a business coach to high-performing entrepreneurs for over 25 years, I went through and used most (if not all) personality tests on the market, including popular ones like Myers-Briggs (MBTI), Human Design Engineering (HDe), and DISC.

In my opinion, the Enneagram is the most efficacious, robust, and useful. (MBTI and HDE are insightful too.)

You can take a free Enneagram test here . You can find scientifically validated paid tests online as well.

After you get your results, read more about your type and see if it resonates. Then, look for ways to develop your type. (On the Enneagram Institute website, they offer “Personal Growth Recommendations” for each type.)

STEP 2: Envision Your Future Self

Consider what the above information means about our potential: Developing any line of intelligence gives us greater sensitivity to the world around us.

We can now process information in new and deeper ways. Every time we grow in a line of intelligence, we perceive the world differently.

We are more aware than before. We have greater sensitivity to the world around us. Our possibilities are remarkable to ponder.

Nietzsche believed it was our destiny to be Ubermensch or Superman. An Ubermensch is an integrated or whole human being accessing his full potential.

Numerous researchers in developmental psychology have come to a similar conclusion, calling the final stage of development “Integrated.”

Maslow called this stage of development self-actualization and later, self-transcendence .

Cast Your Vision

Now, in Step 2, it’s time to create your vision for your future self .

Your vision (and personal development goals) will inspire you if it is true to who you are.

Sometimes we create a vision based on what we  should want or what we hope will gain approval from others—our parents, significant others, colleagues, or friends). Such a vision will lack inspiration and will feel meaningless to us.

Don’t worry about creating a “perfect” vision or the “right” vision. Just craft a sentence or two that inspires you right now.

STEP 3: Select Your Current Areas of Focus

In Step 1, you see a diverse range of options available. Learning about these options can be exciting, but it can also be overwhelming. If you nailed your vision in Step 2, you have more clarity.

Now, depending on your level of clarity, Step 3 can either be the easiest or the most difficult part of this process.

Even when you have a compelling vision for your future self, selecting areas of development to focus on can challenge us because we have limited time and countless options.

We can’t do it all. Creating an aggressive or complicated personal development plan with many goals backfires over time. I can attest to this from personal experience.

An aggressive plan will create additional internal resistance that undermines your efforts.

Over-planning sets you up for failure and discouragement. Eventually, you will burn out (lose motivation) and abandon your plan.

Be Mindful of Your Available Time

We’ll discuss scheduling in Step 6, but consider how much time you have available to invest in your development.

Let’s say you only have 30 minutes a day.

Is it reasonable to expect to make significant changes in six areas of your life within three months?

Developing new skills, for example, may take a minimum of 15 minutes of daily practice.

To set yourself up for success, I recommend picking up to three areas to focus on within the next 90 days.

Where Should You Start?

Select the areas that interest you the most. You’ll learn faster in these areas and have an easier time staying engaged with your practice.

So the question is: What’s most important to you right now ?

What are the areas you are most interested in developing now ?

To help answer these questions, it helps to know what you most value .

Narrow Down Your Search

Be aware of the tendency to overthink the selection process.

Better to dive into something for a month or two and then determine it’s not for you than to analyze your options. Analysis, as the saying goes, often leads to paralysis.

If you’re still having trouble deciding, go with the classic categories of Body, Mind, and Spirit.

• Body : pick an area that interests you like strength training, stamina, aerobics, or functional training.
• Mind : select one to three topics you want to explore. Read relevant books for each one.
• Spirit : consider focusing on gratitude, acceptance, kindness, compassion, meditation, or service to others.

I also recommend you include shadow work as part of an integrated program.

Include Important Lines of Development

While everyone is different and will create their plan to suit their needs, there are certain areas I believe to be foundational (for at least most people).

Cognitive Intelligence

Research shows that cognition is “necessary but insufficient” for other lines of development. For example, just because you have well-developed cognition doesn’t mean you’ll have moral intelligence.

One way to improve your cognition is to read books that challenge your understanding.

Emotional Intelligence (EI)

EI is, arguably, as important as cognitive development. EI relates to your physical and mental health, the quality of your relationships, and your leadership abilities (including self-leadership ).

One way to grow your emotional awareness is through meditation training . In the context of your personal development plan, meditation is a skill-building exercise. You are developing the skill of attention .

Intrapersonal Intelligence

Your level of self-awareness and knowledge of yourself influences your behaviors, moral development, and psychological development.

The Enneagram system can support the development of intrapersonal intelligence. Another way is to practice self-reflection and journaling.

See this in-depth guide on developing intrapersonal intelligence .

Kinesthetic Intelligence

Your awareness of your body defines the degree of your connection to your instinctive self. The more connected you are, the more mental balance you experience (and vice versa).

You can develop your body intelligence through practices like Yoga and Qigong as well as dancing and functional training. You can also use centering exercises , grounding techniques , and Zhan Zhuang  to increase body awareness.

Of course, there are other important aspects of your development. I singled out these four because they influence so much of our behaviors and decisions. Also, many of us are unaware of the profound role they play in our life experiences.

Pushing Beyond Professional Development

One thing I’ve observed in working with high-performing individuals is they tend to focus only on professional goals.

Many of us want to profit from our self-development plan. I’m not suggesting there’s anything wrong with that. Developing your abilities and talents should make you more marketable and of greater value to others.

However, watch the tendency to invest exclusively in this area, denying other aspects of yourself that are still important to a deeper part of you.

If you create a diverse personal development plan, you’ll increase your chances of actualizing your plan. You’ll also find it to be a more rewarding experience.

STEP 4: Determine Your Key Practices

Excellent books like Daniel Coyle’s The Talent Code and Anders Ericsson’s Peak: The New Science of Expertise  show that talent isn’t born but cultivated through deliberate practice .

Once you have selected the areas of your Personal Development Plan, the next step is to determine your practices.

These practices are the actions you are committing to doing consistently to develop in your particular areas of interest.

Examples of Practices

For example, if you want to improve your writing, write at least 1,000 words every day and edit what you write ruthlessly .

Want to learn to play the guitar? Pick up your guitar for at least 15 minutes every evening.

Want to increase your strength? Determine your training routine and follow through three or four days per week.

You may not know what practices to follow in the beginning. At first, you’ll research different topics through books, videos, and articles.

This exploration will help you to pick your practices. You may also consider hiring a coach or trainer to help you establish your practices.

STEP 5: Establish Personal Development Goals

Another common mistake people make with their personal development plan is to set BIG goals.

Big goals are useful for businesses but suboptimal for your self-development plan.

A big goal might be to master a particular instrument within 12 months. Such a goal will go unrealized.

As Sun Tzu wrote in The Art of War , “Every battle is won before it’s ever fought.”

To win the battle for your development in the war of distraction, set mini-goals instead.

Mini goals help you build momentum because they’re more readily achievable than big goals.

Yes, have a big vision . But only set mini personal development goals that are fun, engaging, and manageable.

Examples of Mini-Goals

Instead of mastering an instrument, for example, perhaps you establish a mini-goal like learning how to read sheet music or comfortably playing your favorite song.

If you’re just starting with strength training and you can only do ten consecutive push-ups, perhaps you set a goal of 30 push-ups.

If you want to improve as a public speaker, maybe you set a mini-goal to speak in front of a crowd at least once a week.

If you’re getting into meditation, and you can’t sit comfortably for more than a few minutes, maybe you commit to sitting for just 2 minutes once or twice a day for the next 21 days.

These types of personal development goals will inspire your practice and help you build positive momentum.

STEP 6: Set Your Schedule for Deliberate Practice

Once you know your practices, ensure you block off sufficient time for making progress.

Many people struggle with scheduling for two primary reasons:

• They underestimate how long things take. They get too ambitious with their expectations.
• They don’t honor their calendar unless it involves other people. Time scheduled for ourselves is the first thing to get bumped.

Watch out for both of these common patterns. If you don’t honor your time, I can assure you, no one else will.

Ground Your Plan to Reality

So first ask, How much time can I reasonably commit to my personal development plan?

The question isn’t what you should do; it’s what you think is reasonable and practical in the course of your busy life.

This infographic from Inc. illustrates how 500 chief-level executives spend their day. The average business leader invests 30 minutes a day in personal development—right before bed.

For most people, the two easiest periods to carve out time for your personal development plan are early morning and late evening.

Both of these times share the same two qualities:

• There are fewer distractions and
• You don’t have to interrupt your work/life flow to jump into your practices.

The key is to find times when you can be consistent and then establish a daily rhythm with your practice.

This way you don’t have to make a daily decision of whether or not to practice. You just practice!

Just 10 to 15 minutes is sufficient when you have a busy schedule. On the weekends, you can carve out additional time.

STEP 7: Monitor Your Ongoing Progress

Feedback facilitates the learning process. Athletes and musicians excel when they have experienced coaches to provide the right practices and effective feedback .

In Daniel Coyle’s examination of exceptional talent, he found that having a masterful coach was one of the common denominators for producing talent. 3 Daniel Coyle, The Talent Code , 2009.

Be Aware of Your Overall Mindset

One reason many people fail to develop is because they have a fixed mindset . Individuals with a fixed mindset are more driven to avoid looking foolish than by the desire to learn. They evade any constructive or critical feedback from others.

In contrast, someone on the path to self-mastery accepts failure and mistakes as part of the learning process.

In The Art of Learning , chess master and tai chi champion Josh Waitzkin explains how he became a tai chi champion by challenging superior opponents.

Instead of sparring with opponents of equal or lesser ability, he sought more skilled martial artists. He was often defeated, but he learned quickly.

The Important Role of Attention

Other than outside feedback, the other key to monitoring your progress is to increase your awareness as you practice.

The goal is to become fully present-minded with your practice. (To assist in this process, try using something like The Mastery Method to increase your mental alertness and self-awareness.)

When you bring more awareness to your practice, you ignite an internal feedback loop that facilitates faster learning.

How to Develop Awareness

One way to develop greater awareness is through mind training.

Breathing techniques and meditation help develop parts of the brain (prefrontal cortex region) associated with awareness.

It’s also important to enter a centered state before you practice. It only takes a minute or two, and it will speed up your results.

Do Periodic Check-Ins

Finally, check in with your personal development plan often.

Scan it weekly and revisit it each month to see if there are any adjustments you want to make.

Are you making progress toward your personal development goals? If not, why not?

Evaluate and make course corrections as needed.

Your Personal Development Plan Template (Fillable)

To help you create your plan, I’ve designed a personal development plan template based on the roadmap and principles outlined above. The template is fillable.

Your free kit includes:

• Print-ready PDF of this guide
• Fillable personal development plan template
• Personal development plan example that’s already filled in

Download your free personal development plan kit below.

Note: After you enter your email, you’ll be redirected back here. Links to your free assessment templates will be right here.

Build Your Own Personal Development Plan Template

If you would prefer to create your own template, it’s easy to do. Just include the following elements we just discussed:

• Personal vision (the results from Step 2)
• Areas of focus (the categories selected in Step 3)
• Skills (you’re in the process of developing)
• Practices (you’re using to develop your skills and lines of intelligence from Step 4)
• Mini goals (associated with your skills from Step 5)

All of this information can fit on a single-page template. It will take effort to set up your plan, but once you do, it requires little energy to maintain and update.

Ready? It’s time to create your own Personal Development Plan.

Make Your Personal Development Plan Clear and Practical

It’s important to keep your personal development plan as simple and concise as possible.

The more complicated and robust your plan becomes, the less likely you are to follow through.

For years, I kept my plan on my desk. A 10-second glance at the document was often all I needed.

I used to help my clients create elaborate results plans that often grew into large report-sized documents. We found they were less functional the bigger they became. Eventually, we reduced these plans down to a single page.

Keep your plan to a single page if possible. A one-page personal development plan makes it easy for you to check in often.

Books Related to Personal Development Plan Roadmaps

First, here are a few excellent personal development books cited in this guide:

Mastery by George Leonard

The Talent Code by Daniel Coyle

The Little Book of Talent  by Daniel Coyle

Mindset: The New Psychology of Success by Carol Dweck

From my experience, the most neglected step in creating a Personal Development Plan is understanding the terrain of human potential—what I attempted to summarize in Step 1.

Here are a series of books that opened my mind to greater possibilities years ago.

Integral Life Practice  by Ken Wilber, et al.

3 Vital Stages of Self-Discovery (and Activities for Each Stage)

A Practical Guide to Joseph Campbell and the Hero’s Journey

How to Change Your Mindset from Fixed to Growth

How to Transmute Sexual Energy: An Inner Alchemy Guide

About the Author

Scott Jeffrey is the founder of CEOsage, a self-leadership resource publishing in-depth guides read by millions of self-actualizing individuals. He writes about self-development, practical psychology, Eastern philosophy, and integrated practices. For 25 years, Scott was a business coach to high-performing entrepreneurs, CEOs, and best-selling authors. He's the author of four books including Creativity Revealed .

Learn more >

Business Plan Example and Template

Learn how to create a business plan

What is a Business Plan?

A business plan is a document that contains the operational and financial plan of a business, and details how its objectives will be achieved. It serves as a road map for the business and can be used when pitching investors or financial institutions for debt or equity financing .

A business plan should follow a standard format and contain all the important business plan elements. Typically, it should present whatever information an investor or financial institution expects to see before providing financing to a business.

Contents of a Business Plan

A business plan should be structured in a way that it contains all the important information that investors are looking for. Here are the main sections of a business plan:

1. Title Page

The title page captures the legal information of the business, which includes the registered business name, physical address, phone number, email address, date, and the company logo.

2. Executive Summary

The executive summary is the most important section because it is the first section that investors and bankers see when they open the business plan. It provides a summary of the entire business plan. It should be written last to ensure that you don’t leave any details out. It must be short and to the point, and it should capture the reader’s attention. The executive summary should not exceed two pages.

3. Industry Overview

The industry overview section provides information about the specific industry that the business operates in. Some of the information provided in this section includes major competitors, industry trends, and estimated revenues. It also shows the company’s position in the industry and how it will compete in the market against other major players.

4. Market Analysis and Competition

The market analysis section details the target market for the company’s product offerings. This section confirms that the company understands the market and that it has already analyzed the existing market to determine that there is adequate demand to support its proposed business model.

Market analysis includes information about the target market’s demographics , geographical location, consumer behavior, and market needs. The company can present numbers and sources to give an overview of the target market size.

A business can choose to consolidate the market analysis and competition analysis into one section or present them as two separate sections.

5. Sales and Marketing Plan

The sales and marketing plan details how the company plans to sell its products to the target market. It attempts to present the business’s unique selling proposition and the channels it will use to sell its goods and services. It details the company’s advertising and promotion activities, pricing strategy, sales and distribution methods, and after-sales support.

6. Management Plan

The management plan provides an outline of the company’s legal structure, its management team, and internal and external human resource requirements. It should list the number of employees that will be needed and the remuneration to be paid to each of the employees.

Any external professionals, such as lawyers, valuers, architects, and consultants, that the company will need should also be included. If the company intends to use the business plan to source funding from investors, it should list the members of the executive team, as well as the members of the advisory board.

7. Operating Plan

The operating plan provides an overview of the company’s physical requirements, such as office space, machinery, labor, supplies, and inventory . For a business that requires custom warehouses and specialized equipment, the operating plan will be more detailed, as compared to, say, a home-based consulting business. If the business plan is for a manufacturing company, it will include information on raw material requirements and the supply chain.

8. Financial Plan

The financial plan is an important section that will often determine whether the business will obtain required financing from financial institutions, investors, or venture capitalists. It should demonstrate that the proposed business is viable and will return enough revenues to be able to meet its financial obligations. Some of the information contained in the financial plan includes a projected income statement , balance sheet, and cash flow.

9. Appendices and Exhibits

The appendices and exhibits part is the last section of a business plan. It includes any additional information that banks and investors may be interested in or that adds credibility to the business. Some of the information that may be included in the appendices section includes office/building plans, detailed market research , products/services offering information, marketing brochures, and credit histories of the promoters.

Business Plan Template

Here is a basic template that any business can use when developing its business plan:

Section 1: Executive Summary

• Present the company’s mission.
• Describe the company’s product and/or service offerings.
• Give a summary of the target market and its demographics.
• Summarize the industry competition and how the company will capture a share of the available market.
• Give a summary of the operational plan, such as inventory, office and labor, and equipment requirements.

Section 2: Industry Overview

• Describe the company’s position in the industry.
• Describe the existing competition and the major players in the industry.
• Provide information about the industry that the business will operate in, estimated revenues, industry trends, government influences, as well as the demographics of the target market.

Section 3: Market Analysis and Competition

• Define your target market, their needs, and their geographical location.
• Describe the size of the market, the units of the company’s products that potential customers may buy, and the market changes that may occur due to overall economic changes.
• Give an overview of the estimated sales volume vis-à-vis what competitors sell.
• Give a plan on how the company plans to combat the existing competition to gain and retain market share.

Section 4: Sales and Marketing Plan

• Describe the products that the company will offer for sale and its unique selling proposition.
• List the different advertising platforms that the business will use to get its message to customers.
• Describe how the business plans to price its products in a way that allows it to make a profit.
• Give details on how the company’s products will be distributed to the target market and the shipping method.

Section 5: Management Plan

• Describe the organizational structure of the company.
• List the owners of the company and their ownership percentages.
• List the key executives, their roles, and remuneration.
• List any internal and external professionals that the company plans to hire, and how they will be compensated.
• Include a list of the members of the advisory board, if available.

Section 6: Operating Plan

• Describe the location of the business, including office and warehouse requirements.
• Describe the labor requirement of the company. Outline the number of staff that the company needs, their roles, skills training needed, and employee tenures (full-time or part-time).
• Describe the manufacturing process, and the time it will take to produce one unit of a product.
• Describe the equipment and machinery requirements, and if the company will lease or purchase equipment and machinery, and the related costs that the company estimates it will incur.
• Provide a list of raw material requirements, how they will be sourced, and the main suppliers that will supply the required inputs.

Section 7: Financial Plan

• Describe the financial projections of the company, by including the projected income statement, projected cash flow statement, and the balance sheet projection.

Section 8: Appendices and Exhibits

• Quotes of building and machinery leases
• Proposed office and warehouse plan
• Market research and a summary of the target market
• Credit information of the owners
• List of product and/or services

Related Readings

Thank you for reading CFI’s guide to Business Plans. To keep learning and advancing your career, the following CFI resources will be helpful:

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• Business Templates
• Sample Reports

FREE 10+ Business Plan Report Samples [ Project, Progress, Development ]

Having a good business plan report must be able to guide you the different stages of managing your own business. When it comes to planning your own business, a business plan serves as a roadmap or guide to tell you how you should structure, run, and enhance the growth of your business. That is why you should be thinking for ways on how you are going to go through with the key elements of your business. Business plans help you get funds and new business partners. Know that almost all investors would really want to feel confident about the way they see the aspect of a return on investment. Your plan will serve as a tool that you can use in order to convince people especially those that are working with you and those that are investing in your own company.

Business Plan Report

10+ business plan report samples, 1. personal business plan report, 2. business plan rating report, 3. business plan service report, 4. business plan project progress report, 5. business plan group final report, 6. business plan advisory board report, 7. business plan inspection report, 8. business plan tracking report, 9. business plan performance report, 10. business plan board report, 11. pension funds business plan report, why do you have to write a business plan report, what are the tips in writing a business plan quickly and easily, what are the components of a business plan, what are usually the components of a lean startup format.

Basically, there is no right or wrong when it comes to writing a business plan report . The most important thing here is to be able to meet the needs of the company. Do you know that there are two types of business plans? First is the traditional. Second is the lean startup. To define, a traditional business plan is mostly common wherein you will be able to use a standard structure and encourages you to go into every single detail in each of the sections. A lean startup business plan still uses a standard structure. However, they are less common. They focus more on providing a summary of the essential points of your plan. They are mostly written in a one-page document.

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Business plan reports help you in many ways.

• It helps your business grow faster. You business plan reports establish a foundation in every business and helps you realize that you are actually working on the core strategy of your own business . This document has to be reviewed and corrected to help you achieve your goals and objectives. Without having a business plan report, you will be having a hard time tracking down your progress and to have the information that is available to make reference with whenever you are making difficult decisions.
• It helps you get funding. Every investors and loan providers has their own need to be able to know whether you have understood the trajectory of the business. You must be able to provide a proof that their is an equally sustainable need for the solution, that you have a strong strategy, and that you are fully financially stable.
• It helps you make good strategic decisions. This will enable you to make critical decisions. It is preferable to have your business plan report updated. You may now have the necessary information that you needed especially when it is about to hire new employees, launch a new product , or even make a purchase.

You have to keep it short, know your audience, test your business idea, establish goals and objectives, and learn not to become easily intimidated.

It includes executive summary, opportunity, execution, company and management summary, financial plan, and appendix.

It includes details about key partnerships, key activities, key resources, value proposition, customer relationships, customer segments, channels, cost structure, and revenue streams.

Each business is unique. Each business plans must also be unique too. You must know how to apply the tips that you have learned in order to achieve what you desire. If you want to see more samples and format, try to check out some business plan report samples and templates provided in the article for your reference.

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What Is a Business Plan?

Understanding business plans, how to write a business plan, common elements of a business plan, the bottom line, business plan: what it is, what's included, and how to write one.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

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A business plan is a document that outlines a company's goals and the strategies to achieve them. It's valuable for both startups and established companies. For startups, a well-crafted business plan is crucial for attracting potential lenders and investors. Established businesses use business plans to stay on track and aligned with their growth objectives. This article will explain the key components of an effective business plan and guidance on how to write one.

Key Takeaways

• A business plan is a document detailing a company's business activities and strategies for achieving its goals.
• Startup companies use business plans to launch their venture and to attract outside investors.
• For established companies, a business plan helps keep the executive team focused on short- and long-term objectives.
• There's no single required format for a business plan, but certain key elements are essential for most companies.

Investopedia / Ryan Oakley

Any new business should have a business plan in place before beginning operations. Banks and venture capital firms often want to see a business plan before considering making a loan or providing capital to new businesses.

Even if a company doesn't need additional funding, having a business plan helps it stay focused on its goals. Research from the University of Oregon shows that businesses with a plan are significantly more likely to secure funding than those without one. Moreover, companies with a business plan grow 30% faster than those that don't plan. According to a Harvard Business Review article, entrepreneurs who write formal plans are 16% more likely to achieve viability than those who don't.

A business plan should ideally be reviewed and updated periodically to reflect achieved goals or changes in direction. An established business moving in a new direction might even create an entirely new plan.

There are numerous benefits to creating (and sticking to) a well-conceived business plan. It allows for careful consideration of ideas before significant investment, highlights potential obstacles to success, and provides a tool for seeking objective feedback from trusted outsiders. A business plan may also help ensure that a company’s executive team remains aligned on strategic action items and priorities.

While business plans vary widely, even among competitors in the same industry, they often share basic elements detailed below.

A well-crafted business plan is essential for attracting investors and guiding a company's strategic growth. It should address market needs and investor requirements and provide clear financial projections.

While there are any number of templates that you can use to write a business plan, it's best to try to avoid producing a generic-looking one. Let your plan reflect the unique personality of your business.

Many business plans use some combination of the sections below, with varying levels of detail, depending on the company.

The length of a business plan can vary greatly from business to business. Regardless, gathering the basic information into a 15- to 25-page document is best. Any additional crucial elements, such as patent applications, can be referenced in the main document and included as appendices.

Common elements in many business plans include:

• Executive summary : This section introduces the company and includes its mission statement along with relevant information about the company's leadership, employees, operations, and locations.
• Products and services : Describe the products and services the company offers or plans to introduce. Include details on pricing, product lifespan, and unique consumer benefits. Mention production and manufacturing processes, relevant patents , proprietary technology , and research and development (R&D) information.
• Market analysis : Explain the current state of the industry and the competition. Detail where the company fits in, the types of customers it plans to target, and how it plans to capture market share from competitors.
• Marketing strategy : Outline the company's plans to attract and retain customers, including anticipated advertising and marketing campaigns. Describe the distribution channels that will be used to deliver products or services to consumers.
• Financial plans and projections : Established businesses should include financial statements, balance sheets, and other relevant financial information. New businesses should provide financial targets and estimates for the first few years. This section may also include any funding requests.

Investors want to see a clear exit strategy, expected returns, and a timeline for cashing out. It's likely a good idea to provide five-year profitability forecasts and realistic financial estimates.

2 Types of Business Plans

Business plans can vary in format, often categorized into traditional and lean startup plans. According to the U.S. Small Business Administration (SBA) , the traditional business plan is the more common of the two.

• Traditional business plans : These are detailed and lengthy, requiring more effort to create but offering comprehensive information that can be persuasive to potential investors.
• Lean startup business plans : These are concise, sometimes just one page, and focus on key elements. While they save time, companies should be ready to provide additional details if requested by investors or lenders.

Why Do Business Plans Fail?

A business plan isn't a surefire recipe for success. The plan may have been unrealistic in its assumptions and projections. Markets and the economy might change in ways that couldn't have been foreseen. A competitor might introduce a revolutionary new product or service. All this calls for building flexibility into your plan, so you can pivot to a new course if needed.

How Often Should a Business Plan Be Updated?

How frequently a business plan needs to be revised will depend on its nature. Updating your business plan is crucial due to changes in external factors (market trends, competition, and regulations) and internal developments (like employee growth and new products). While a well-established business might want to review its plan once a year and make changes if necessary, a new or fast-growing business in a fiercely competitive market might want to revise it more often, such as quarterly.

What Does a Lean Startup Business Plan Include?

The lean startup business plan is ideal for quickly explaining a business, especially for new companies that don't have much information yet. Key sections may include a value proposition , major activities and advantages, resources (staff, intellectual property, and capital), partnerships, customer segments, and revenue sources.

A well-crafted business plan is crucial for any company, whether it's a startup looking for investment or an established business wanting to stay on course. It outlines goals and strategies, boosting a company's chances of securing funding and achieving growth.

As your business and the market change, update your business plan regularly. This keeps it relevant and aligned with your current goals and conditions. Think of your business plan as a living document that evolves with your company, not something carved in stone.

University of Oregon Department of Economics. " Evaluation of the Effectiveness of Business Planning Using Palo Alto's Business Plan Pro ." Eason Ding & Tim Hursey.

Bplans. " Do You Need a Business Plan? Scientific Research Says Yes ."

Harvard Business Review. " Research: Writing a Business Plan Makes Your Startup More Likely to Succeed ."

Harvard Business Review. " How to Write a Winning Business Plan ."

U.S. Small Business Administration. " Write Your Business Plan ."

SCORE. " When and Why Should You Review Your Business Plan? "

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The Personal Business Plan: A Blueprint for Running Your Life 1st Edition

Plan for success

No one would embark on a business venture without a thorough and coherent plan. So why are so many of us happy to stagger through life with no real plan – just going with the flow, seeing what happens? It’s time we gave our lives the same importance we give to our business exploits. The Personal Business Plan offers a practical, field-tested method for effectively planning out what you want from life and exactly how to achieve it. It will change the way you look at yourself, your job and your career. This is an essential toolkit for all ambitious career professionals who want to know how to thrive in their job and simultaneously become a happier and more effective person. Creating your own personal business plan will help you to define your purpose, plan your actions, break through limiting beliefs and reinvent yourself.

• Written by a top executive coach and head-hunter with the world’s leading Talent Management and Executive Search firm who has changed the lives of thousands of people
• A field-tested methodology for identifying your mission, setting your critical success criteria, defining your agenda, keeping to the point and become more fulfilled and happier
• A complete life view – how to excel in your chosen career and simultaneously enjoy a happy personal life
• ISBN-10 1118744136
• ISBN-13 978-1118744130
• Edition 1st
• Publisher Wiley
• Publication date October 14, 2013
• Language English
• Dimensions 6.8 x 0.9 x 9.7 inches
• Print length 240 pages
• See all details

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Experience the online toolkit at thepersonalbusinessplan.com

About the Author

Stephen Bruyant-Langer is happily married to Mette, who is a Vice President in a publicly listed company. Together they have four grown-up children. The family lives in Denmark, near the sea and the forest. Stephen enjoys dual French/ Danish citizenship, has lived in Belgium, France and Denmark and is fluent in English, French and Danish.

Product details

• Publisher ‏ : ‎ Wiley; 1st edition (October 14, 2013)
• Language ‏ : ‎ English
• Hardcover ‏ : ‎ 240 pages
• ISBN-10 ‏ : ‎ 1118744136
• ISBN-13 ‏ : ‎ 978-1118744130
• Item Weight ‏ : ‎ 1.3 pounds
• Dimensions ‏ : ‎ 6.8 x 0.9 x 9.7 inches
• #41,292 in Business & Finance
• #408,360 in Business & Money (Books)

About the author

Stephen bruyant-langer.

Stephen Bruyant-Langer is a senior partner with Korn/Ferry International, the world’s leading Executive Search and Talent Management firm. He has successfully transformed the lives of hundreds of top-level executives through his world-class Executive Coaching Program. For more than 15 years, he worked as a Marketing Executive for global market leaders such as L’Oréal and The Coca-Cola Company before reinventing himself as a Headhunter and Executive Coach in 1996.

For more than 17 years he has pursued, in parallel, an academic career as an External Lecturer at the Copenhagen Business School, focusing on Strategic Market Management and Corporate Communication. He has published more than 400 articles and columns on leadership and is widely used as a keynote speaker at conferences. In March 2012, he published his Danish best-selling leadership book Your Next Career – The Headhunter’s Guide to Lifelong Success.

Stephen Bruyant-Langer is happily married to Mette, who is Vice President in a publicly listed company. Together they have four grown-up children, two of whom have studied in the US and the UK. The family lives in Denmark, near the sea and the forest. He has dual French/Danish citizenship, has lived in Belgium, France and Denmark, and is fluent in English, French, and Danish.

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Plan Templates

7+ personal business plan templates.

Are you planning on starting a business? Then careful planning is a necessary step before you can even start doing what you have in mind. And since the human mind is not infallible, you would need a document with a specific format that you can use to write your plan samples for your business. And this is where business plans come into play.

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Advantages of Having a Business Plan

• A well-written business plan allows you to see a better picture of the whole business.
• A business plan helps you focus on the right things and the most important things. And you will be able to allocate your time and resources strategically.
• A good business plan helps in keeping track on the flow of income, and if problems are identified, the business will be able to adjust to it easily.
• A business plan can be used to set targets for new collaborators, and you may choose parts of your plan to communicate with those collaborators.

Guidelines on Making a Business Plan

• Research on businesses that offer similar services and learn about their mistakes so you can do the opposite.
• Make your business plan clear, concise, and direct to the point.
• Seek assistance from other people, if possible, those who have written their own business plans and learn from them.
• Know your target clients and adapt to their interests and preferences.

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Personal Development Plan Templates for Success

Did you know you can make your dreams and aspirations a reality by focusing on your own individual  personal development plan ?

Your potential is limitless, and investing in personal development is a way to harness your many talents.

Establishing goals for what you want to achieve — where you would like to go in the short term or long term — can improve your personal development.

In this guide, I’ll help you understand what personal development means and its importance, what a  personal development plan  is and why you should make one, and how to write a personal development plan.

I’ll also share with you my personal development plan template to get you started on your path to reach your personal development goals, complete with helpful examples and resources to support you.

What Is a Personal Development Plan (PDP)?

A personal development plan is a guideline for your life and your future success.

Personal development is an ongoing process of improving oneself through conscious habits and activities. It is the pursuit of personal growth to enhance your quality of life and to achieve your dreams and aspirations.

When you create a plan, you start to define the kind of person you want to be, the skills you want to have, and the accomplishments you want to achieve. And then you map out your long-term and short-term goals to realize these aspirations and set timelines for when you want to reach them.

Many people underachieve in their careers because they do not realize the areas of personal development that can help achieve mastery in any field.

Effective leaders focus on continual self-improvement and know there is no substitute for hard work.

When you  practice self-discipline  by setting a goal, making a plan, and working on it every day, you will see personal development and progress within your career.

The Importance of Personal Development

Most of the time, what you think about is what you become. From the moment you wake up until the moment you close your eyes at the end of the day, everything you experience plays a factor in your development.

When you take greater control over your experiences, you can guide your personal development and accelerate toward what you want to become instead of leaving it to chance.

Setting, striving for, and meeting personal development goals opens up a world of new possibilities for you to increase your quality of life.

For example, as a result of creating and following your personal development plan, you may gain more responsibility for work and open up opportunities for higher pay. This growth could qualify you for a better career trajectory to increase your overall happiness, job satisfaction, and ability to provide for the life you want for you and your family.

Focusing on your personal development also gives you better decision-making abilities so you can avoid problems that may have plagued you in the past or are holding you back now.

At the end of the day, personal development helps you create more positivity and  harness the power of positive thoughts , which can transform your life.

When you give time to yourself by focusing on your professional and personal growth, you are better able to achieve  your version of success  because of personal development opportunities.

Personal Development vs Self-Improvement

Recognizing the difference between self-improvement and personal development can be a little tricky.

While they are similar in that they are both very instrumental in achieving your goals and improving yourself, there are key differences between a self-improvement plan and your own personal development plan.

Personal development is the work you are putting in to transform yourself on a daily basis. It’s the efforts you’re making to advance in your work, lifestyle, attitude, physique, and sociability.

Setting personal and professional development goals and creating a plan helps you take full advantage of any opportunity that may come your way and make the most of your potential.

Self-improvement is an inner transformation. It is a self-motivated study to improve one’s character, status, or knowledge by their own efforts.

Self-improvement is a lifelong process  of constantly searching for ways to change your habits so you can reach your fullest potential.

The specific efforts you put into personal development lead to self-improvement.

Start Achieving All of Your Goals Today! Download my FREE Personal Development Plan Template

The 7 Categories of Personal Development

Focusing on personal development categories such as personal skills, personal growth, and  personal power  can create habits for personal improvement.

Personal growth is founded on education and skill. Through education and experience, you increase your skill level and your ability to succeed in your field.

There are seven main categories of personal development.

Personal Skills

Personal skills can be ones you were born with as well as those you gain through deliberate practice. They’re often referred to as soft skills.

Examples of personal skills are decision-making, teamwork, organization, and communication.

If you’re looking to develop skills at work, try working on your personal skills. The highest-paid, top individuals in their field are the ones who focus on growing their personal skills.

Knowing what areas you excel in and which need development is very useful in your personal and professional life.

Personal Growth

Having a personal growth plan is one of the first steps toward bettering yourself and stepping out of your comfort zone.

Humans and the human mind are constantly evolving. Think about it: you are not the same person you were a year ago. You’ve learned more, grown in many different ways, and have experienced more life events to further shape your personality, beliefs, and world outlook.

To experience personal development and have a growth mindset, strive to be a better version of yourself today than you were yesterday.

Personal Power

Personal power is the authority others believe you to have in certain situations and is fueled by your contacts, knowledge, and financial status.

Developing an ever-widening circle of contacts, seeking to learn more, and growing financially increases the number of doors that others will leave open for you to step into.

Expanding your network, knowledge base and financial status will also allow you to help others do the same, further increasing your  personal power  and opportunities for personal development and growth.

Personal Improvement

Personal improvement stems from good work habits and having a positive mental attitude.

Thinking before you act is critical to developing a strong amount of personal improvement. To help you think first, try to set priorities on a list and consider the likely consequences before beginning.

Working on personal improvement and generating a positive mental attitude will also reduce the amount of time that it takes you to achieve your goals.

Personal Empowerment

Personal empowerment is similar to Personal Power, except empowerment is the power to reflect what you see within yourself, instead of how others view you.

Promoting a positive image and adopting creativity within your daily life can speed up the time it takes to achieve personal empowerment and your goals.

To help you increase your personal empowerment, consider looking for new, creative ways to finish a project in a faster, easier or cheaper way without compromising the end result.

Personal Analysis

It is very important to be conscious of areas in which you are naturally gifted as well as analyze areas in which you need improvement. This is called personal analysis.

Being truthful about where you currently stand is the first step to moving forward. You should be constantly evaluating where you are when achieving your goals and ambitions.

Personal Objectives

Ambition goes to waste when there are no clear goals in sight. Developing clear direction for short-term and long-term goals is a pivotal step in actually accomplishing them and growing as a person.

Having a set plan will help you have a clear understanding of which strategies are necessary to reach your desired destination.

Why Make a Personal Development Plan?

The reason you need to create a personal development plan is that making a plan will help guide you to better decision-making and remind you of where you want to go.

In other words, good preparation increases the probability of success and decreases the risk of things going wrong along the way.

Creating a plan for personal development helps you get a better sense of control over your life and will make you better prepared for whatever comes your way.

Consider these benefits of having one:

• It brings your vision to reality.
• It ensures you take appropriate and logically planned action.
• It helps you improve your  time management skills  so you can achieve your goals.
• It’s a plan to keep track of progress, which serves to motivate you when you want to give up.
• It’s been proven to reduce stress, improve balance in life, and increase self-confidence.

Developing your personal development plans and goals for work can make the difference between success and failure. Creating a self-growth plan for your personal life can mean the difference between life-long happiness and regret.

Skills & Objectives

The objectives of personal development are continuous personal growth, increased potential for success, and capitalizing on potential opportunities.

You can practice your personal development skills by setting aside time for the important people in your life, performing action exercises that force you to perform at the highest level, and studying growth performances to help ensure you continue to climb the ladder of success.

An action plan has to include measurable objectives so you know the exact steps it will take to reach your goals. Objectives break your larger personal goals into bite-sized pieces so you can know where you are headed and check off your progress along the way.

There are no limits except for the limits you place on yourself with your thinking.

Commit yourself to a life of constant learning. Even if you are at the top of your field, there is always something to learn.

Once you have mastered a new skill, move on to learning another one. Constantly learning new skills keeps your mind fresh and active and opens doors that would otherwise be closed to you.

You will become unstoppable and you will see your entire future open up in front of you if you live a goal and growth-oriented life.

How to Set Personal Development Goals

Before you can set up a plan, you need to do some self-reflection and answer personal goal questions.

A few questions you should develop before laying out an idea for a specific plan of action are:

• What do I want to make out of my life?
• What are my goals and ambitions?
• What is currently standing in my way of achieving these goals?

After answering those questions, you can create a personal plan that contains a few key components.

The key components you should focus on are having a specific outcome that you are constantly working towards, planning and paving a path towards achieving it, being mindful of the obstacles, and understanding the bigger motivation behind your actions.

When developing a personal development plan for work, you should focus on SMART goals. SMART stands for “Specific”, “Measurable”, “Achievable”, “Relevant”, and “Time-Bound.”

By following this easy-to-remember acronym when goal setting, you can improve both your personal and professional life:

• Specific:  Write goals that are detailed and clear instead of broad and general.
• Measurable:  Set milestones that will let you know you are achieving your goal.
• Achievable:  Make goals that are challenging yet can realistically be achieved.
• Relevant:  Align your goals with your personal self-improvement plan.
• Time-Bound:  Pick an end date by which you want to achieve your goal.

Set Goals for Professional Life

To make progress that you can see and track in your professional life, you need to document a detailed plan of action for your personal development.

Some examples include answering the following questions:

• What do I want to learn?
• What do I have to do?
• What support and resources will I need?
• How will I measure success?

Be as specific with your answers as possible. The more precise, the easier it is to track your progress.

Seeing how far you have come and how your hard work is paying off will give you a boost of confidence and provide a sense of accomplishment.

Some examples of personal development goals for work include the Golden Hour and the 21-Day Mental Diet.

The Golden Hour Rule

The  Golden Hour Rule  steers the trajectory of your day.

Beginning your day early and investing your first hour in yourself will make a tremendous difference in the way you feel, and you will begin to see positive results in your day.

You will begin to see yourself in a more positive light and improve on your self-awareness and personal development.

The 21-Day Mental Diet

The  21-Day Mental Diet  personal leadership plan example means waking up early and investing at least the first two hours of your day in yourself.

With this extra time, set clear goals you can work to achieve in the workplace. This can improve your productivity and efficiency to help you get that promotion or earn a raise.

Your goals may also include education. You need to learn more to earn more.

Try setting a goal to read something educational, motivational, or inspirational every day before you go to work.

Set Goals in Your Daily Life

Outside of the workspace, it’s important to focus on some personal goals as well. Similar to your work plan, your personal plan requires you to focus on key points to achieve your goals.

Here are some sample questions to ask yourself:

• What are the important goals that you want to achieve?
• When is your set deadline?
• What are your biggest strengths?
• Who or what are your biggest threats?

There are several aspects of personal development disciplines that will make achieving success possible if developed correctly.

A few of these disciplines include goal setting, planning and organizing, and concentrating on high-value activities.

Goal Setting

Goal setting can be done in the early morning and take only a few minutes of your day.

It can be as simple as purchasing a spiral notebook and writing out your ten goals at the beginning of each day. This will program them deep into your subconscious mind and help you actually follow through on accomplishing them.

Planning Your Day

Planning and organizing at the end of the day can help you better prepare for the coming day.

When you plan out your day, put it down on paper, you can begin to visualize your important tasks and make sure you are working to complete them throughout the day.

Concentrating On Your High-Value Activities

High-value activities are the things you choose to do throughout the day that will give you the biggest return on your efforts to get you closer to your goals.

Concentrating on your high-value activities will help keep you focused and contribute to your success as much as any other discipline you can develop.

Promoting the highest value activities will make a powerful difference in how quickly you achieve them and the goals they relate to.

Personal Development Plan Template

Creating a plan for personal development will help you get a better sense of control over your life and your goals…and it doesn’t have to be a daunting task!

Follow this template to get started and achieve your goals.

There are six core steps in this template that will help you take action and measure your progress.

Step 1: Set Your Goals

Write a list of the top 10 most important goals you would like to achieve. I encourage you to really write them down somewhere — on paper or on your computer — instead of just keeping them in your head.

People who write their goals and have a clear plan are 30% more likely to achieve their goals.

Search deep within yourself and identify the things you really want out of life. Do not be hindered by thoughts of roadblocks that may get in your way. Open yourself up to all the possibilities that would make you truly happy in life.

These are life goals. Life goals are meant to be challenging, so they may seem huge, overwhelming, or even scary. But that’s why they will be broken down into digestible and manageable smaller goals.

For example, providing for your family is an important long-term goal, but figuring out the steps to get there is the challenge. Your smaller personal development objectives will help you identify those steps so you have a clear road map to follow.

With each of the 10 goals you identify, also define your “why:” Why do you want to achieve this goal? What will it mean for your personal life, your career, your mental health or, your loved ones?

Knowing your why will help set you up for success. It will keep you motivated to continue progressing forward until you have achieved what you want to.

Step 2: Prioritize Your Goals

Once you have identified your top 10 goals, write which of those 10 is the most important to you and why.

Starting with your highest priority goal, identify the short-term goals and steps that are needed to achieve your long-term goals.

What needs to happen today so you can move on to the next movetomorrow?

This may require some research on your part, depending on your goal.

For example, say your goal is to become a leader in your field. Some of the short-term goals you will prioritize to reach this personal leadership plan example may include the following:

• Choose a topic or niche in your industry that you want to specialize in.
• Learn everything you can about the issue by talking to people in your industry, reading about your topic, attending seminars and webinars, and so on.
• Educate others by writing regular blog posts.
• Start a podcast and offer valuable information.
• Give interviews on podcasts, local radio and TV stations, and news outlets.
• Write a book  and get it published.
• Become a public speaker  at industry conferences or hold your own conference.

Step 3: Create a Timeline for Achieving Your Goals

Setting goals and deadlines in your process is crucial. Without them, your goals can get lost in the everyday chaos of life or forgotten completely.

Write down a specific timeline for achieving each of your goals, but be realistic in your timing and know the likelihood ahead of time of achieving your goal within a certain timeline to avoid discouragement.

While you may want to become debt-free by next year, you will first need to do what is necessary to earn more income or reduce your expenses. This could involve getting more education, finding a better job, or making major life changes, which could take more than 365 days.

Once you assign a due date to each of your short-term goals,  tackle the hardest goal first . This will help you realize you can actually achieve your goals faster and give you the motivation you need to propel yourself forward.

If you’re unsure of the timeline you should set for accomplishing your goals, speaking to other people who have achieved the goal you are striving for will help you set a realistic deadline.

Conducting online research could also help in defining a timeline to accomplish your goals.

Knowing that it takes four to five years to earn a Ph.D. in business lets you know how long it will likely take you. If you can only attend school part-time, you know it will take longer, perhaps twice as long.

Step 4: Analyze Your Strengths and Weaknesses

Write down your strengths and weaknesses. Remember that skills like perseverance, positive attitude, and creativity are strengths and weaknesses as much as educational level, experience, and having a strong network of professional contacts.

Focus on the attributes that are needed to achieve your goal. Then, write how your strengths can help you achieve this goal and how you plan to overcome those weaknesses.

Use a SWOT analysis to organize your thoughts and develop a strong strategy for achieving your goal. SWOT stands for strengths, weaknesses, opportunities, and threats.

Ask yourself questions similar to these to help you develop insights for each part of a SWOT analysis:

• What sets you apart from your peers?
• What is your competitive advantage?
• What do others regularly praise you for?
• What do people ask you to help them with?
• What parts of yourself are you confident about?
• What values are important to you?
• What do you usually avoid doing because you don’t think you can?
• What kind of tasks do you procrastinate?
• Where are you lacking in skills, experience, or education?
• What resources do you lack?
• What areas do you feel you need improvement?
• What gets in the way of your work performance or relationships with others?

Opportunities

• What technology can help you achieve your goal?
• What promotions or financial incentives are available at work?
• Who can help you reach your goal?
• What changes are happening or are projected to happen in your industry or personal life?
• What conferences, classes, or networking events are available to you?
• What are your competitors failing at that you can learn from and improve on?
• What obstacles do you face that may hinder your progress?
• Which of your weaknesses could lead to threats?
• Who is trying to achieve the same goal that may get in your way?

Step 5: Write an Action Plan

Write actions that you need to take to achieve your goal. These can be things you need to add to your daily routine as well as things you need to eliminate from it to  achieve the success in life  that you are looking for.

Doing this will help you to achieve each goal faster.

Whether you use a notebook or your computer, just make sure you’re also physically writing down your plan so you can see it every day and hold yourself accountable.

Step 6: Measure Your Progress

The final step in your personal development plan template is to mark your progress.

Write down what has been working well, what you have accomplished, what you still need to improve, and what skills or knowledge you have gained along the way.

People who set up a system to report on their goals weekly achieve 40% more than people who do not.

To help you in this final step, consider using a tracker to take notes, measure progress, and be analytical about what works and what does not.

Sometimes it is necessary to change courses midstream or add a step that you were not initially aware of. That doesn’t mean you should abandon your goal out of discouragement. It just means you need to adapt, and this is where a tracker can help you determine if it’s time to pivot.

Remember it’s okay to be flexible. Doing so will allow you to make changes when needed that will propel you toward your goal more efficiently.

This could be a good opportunity to use another piece of data about how people who write things down/journal are much more likely to be successful.

Personal Development Courses and Programs

Personal development courses, coaches, and programs can also help you hit your goals.

A personal development program accompanied by a personal development coach helps to keep you disciplined and moving forward.

If you are looking to transform your life, check out these courses and programs that include all of my knowledge, distilled into powerful lessons to help you achieve immediate success in your own life. They will teach you how to stop worrying and stressing out and how to take control of your life, forever.

Power Of Personal Achievement

Learn the right way to visualize your ideal future. This course will teach you how to set your goals and methodically achieve them with more efficiency than ever before.

This program will teach you how to ditch the negative emotions that have been hindering your success as well as how to redirect your energy and resources towards your personal mission.

The Science Of Self-Confidence

In this course, you’ll learn just about everything I’ve learned about self-confidence during the past four decades.

I reveal the secret of the four Cs that teach you how to escape the endless loop of failure. You will find your true self and, as a result, finally feel truly confident.

Maximum Productivity

This course will equip you with the skills to discover your special calling. You will learn everything you need to know how to take the shortest, fastest route possible to your destination.

Ultimate success is achievable when you know how to dramatically improve your productivity.

Create Your Personal Development Plan Today

Don’t wait to start improving your life.

Follow a personal development plan for work and your personal life or use a template to start accomplishing your goals and improving your life.

For the easiest way to get started, download my free  Personal Development Plan Template  to organize your goals over the next few months and years and optimize your success.

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Money blog: Couples reveal how they split finances when one earns more than other

Welcome to the Money, your place for personal finance and consumer news and tips. Read our weekend feature on relationship finances below and let us know how you and your partner divide money in the comments box. We'll be back with live updates on Monday.

Saturday 17 August 2024 12:43, UK

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Ask a question or make a comment

By Emily Mee , news reporter

Openly discussing how you split your finances with your partner feels pretty taboo - even among friends.

As a consequence, it can be difficult to know how to approach these conversations with our partner or what is largely considered fair - especially if there's a big imbalance salary-wise. 

Research by Hargreaves Lansdown suggests in an average household with a couple, three-quarters of the income is earned by one person. 

Even when there is a large disparity, some couples will want to pay the same amount on bills as they want to contribute equally. 

But for others, one partner can feel resentful if they are spending all of their money on bills while the other has much more to spend and is living a different lifestyle as a result. 

At what stage of the relationship can you talk about money?

"We've kind of formally agreed there is some point in a relationship you start talking about kids - there is no generally agreed time that we start talking about money," says Sarah Coles, head of personal finance at Hargreaves Lansdown. 

Some couples may never get around to mentioning it, leading to "lopsided finances". 

Ms Coles says if you want to keep on top of finances with your partner, you could set a specific date in the year that you go through it all. 

"If it's in the diary and it's not emotional and it's not personal then you can properly go through it," she says.

"It's not a question of 'you need to pull more weight'.  It's purely just this is what we've agreed, this is the maths and this is how we need to do that."

While many people start talking about finances around Christmas, Ms Coles suggests this can be a "trying time" for couples so February might be a "less emotional time to sit down". 

How do you have the conversation if you feel the current arrangement is unfair?

Relationship counsellor at Relate , Peter Saddington, says that setting out the balance as "unfair" shouldn't be your starting point. 

You need to be honest about your position, he says, but your conversation should be negotiating as a couple what works for both of you. 

Before you have to jump into the conversation, think about: 

• Letting your partner know in advance rather than springing it on them;
• Making sure you and your partner haven't drunk alcohol before having the conversation, as this can make it easy for it to spiral;
• Having all the facts to hand, so you know exactly how much you are spending;
• Using 'I' statements rather than 'you'. For example, you could say to your partner: "I'm really worried about my finances and I would like to sit down and talk about how we manage it. Can we plan a time when we can sit down and do it?"

Mr Saddington says if your partner is not willing to help, you should look at the reasons or question if there are other things in the relationship that need sorting out. 

If you're having repeated arguments about money, he says you might have opposite communication styles causing you to "keep headbutting". 

Another reason could be there is a "big resentment" lurking in the background - and it may be that you need a third party such as a counsellor, therapist or mediator to help resolve it. 

Mr Saddington says there needs to be a "safe space" to have these conversations, and that a third party can help untangle resentments from what is happening now. 

He also suggests considering both of your attitudes to money, which he says can be formed by your early life and your family. 

"If you grew up in a family where there wasn't any money, or it wasn't talked about, or it was pushed that you save instead of spend, and the other person had the opposite, you can see where those conversations go horribly wrong. 

"Understanding what influences each of you when it comes to money is important to do before you have significant conversations about it."

What are the different ways you can split your finances?

There's no one-size-fits-all approach, but there are several ways you can do it - with Money blog readers getting in touch to let us know their approach...

1. Separate personal accounts - both pay the same amount into a joint account regardless of income

Paul Fuller, 40, earns approximately £40,000 a year while his wife earns about £70,000. 

They each have separate accounts, including savings accounts, but they pay the same amount (£900) each a month into a joint account to pay for their bills. 

Paul says this pays for the things they both benefit from or have a responsibility for, but when it comes to other spending his wife should be able to spend as she likes. 

"It's not for me to turn around to my wife and expect her to justify why she thinks it's appropriate to spend £150 in a hairdresser. She works her backside off and she has a very stressful job," he says. 

However, their arrangement is still flexible. Their mortgage is going up by £350 a month soon, so his wife has agreed to pay £200 of that. 

And if his wife wants a takeaway but he can't afford to pay for it, she'll say it's on her.

"Where a lot of people go wrong is being unable to have those conversations," says Paul.

2. Separate personal accounts - whoever earns the most puts more into a joint account

This is a more formal arrangement than the hybrid approach Paul and his wife use, and many Money blog readers seem to do this in one form or another judging by our inbox.

There's no right or wrong way to do the maths - you could both put in the same percentage of your individual salaries, or come up with a figure you think is fair, or ensure you're both left with the same amount of spending money after each payday.

3. Everything is shared

Gordon Hurd and his wife Brenda live by their spreadsheet. 

Brenda earns about £800 more a month as she is working full-time while Gordon is freelance. Previously Gordon had been the breadwinner - so it's a big turnaround.

They each have separate accounts with different banks, but they can both access the two accounts. 

How much is left in each account - and their incomings and outgoings - is all detailed in the spreadsheet, which is managed weekly. 

Whenever they need to buy something, they can see how much is left in each account and pay from either one. 

Gordon says this means "everyone knows how much is available" and "each person's money belongs to the other". 

"We have never in the last decade had a single disagreement about money and that is because of this strategy," he says.

Money blog reader Shredder79 got in touch to say he takes a similar approach. 

"I earn £50k and my wife earns just under £150k. We have one joint bank account that our wages go into and all our outgoings come out of. Some friends can't get their head around that but it's normal for us."

Another reader, Curtis, also puts his wages into a joint account with his wife. 

"After all, when you have a family (three kids) it shouldn't matter who earns more or less!" he says. 

Reader Alec goes further and says he questions "the authenticity of any long-term relationship or the certainly of a marriage if a couple does not completely share a bank account for all earnings and all outgoings". 

"As for earning significantly more than the other, so what? If you are one couple or long-term partnership you are one team and you simply communicate and share everything," he says. 

"Personally I couldn't imagine doing it any other way and I do instinctively wonder what issues or insecurities, whether it be in trust or something else, sit beneath the need to feel like you need to keep your finances separate from one another, especially if you are a married couple." 

A reader going by the name lljdc agrees, saying: "I earn half of what my husband does because I work part-time. Neither of us has a solo account. We have one joint account and everything goes into this and we just spend it however we like. All bills come out of this too. Sometimes I spend more, sometimes he spends more."

4. Separate accounts - but the higher earner pays their partner an 'allowance'

If one partner is earning much more than the other, or one partner isn't earning for whatever reason, they could keep separate accounts and have the higher earner pay their partner an allowance. 

This would see them transfer an agreed amount each week or month to their partner's account.

Let us know how you and your partner talk about and split finances in the comments box - we'll feature some of the best next week

By Jimmy Rice, Money blog editor

The centre-point of a significant week in the economy was inflation data, released first thing on Wednesday, that showed price rises accelerated in July to 2.2%.

Economists attributed part of the rise to energy prices - which have fallen this year, but at a much slower rate than they did last year. 

As our business correspondent Paul Kelso pointed out, it felt like the kind of mild fluctuation we can probably expect month to month now that sky high price hikes are behind us, though analysts do expect inflation to tick up further through the remainder of the year...

Underneath the bonnet, service inflation, taking in restaurants and hotels, dropped from 5.7% to 5.2%.

This is important because a large part of this is wages - and they've been a concern for the Bank of England as they plot a route for interest rates.

On Tuesday we learned average weekly earnings had also fallen - from 5.7% to 5.4% in the latest statistics.

High wages can be inflationary (1/ people have more to spend, 2/ employers might raise prices to cover staff costs), so any easing will only aid the case for a less restrictive monetary policy. Or, to put it in words most people use, the case for interest rate cuts.

Markets think there'll be two more cuts this year - nothing has changed there.

Away from the economy, official data also illustrated the pain being felt by renters across the UK.

The ONS said:

• Average UK private rents increased by 8.6% in the 12 months to July 2024, unchanged from in the 12 months to June 2024;
• Average rents increased to £1,319 (8.6%) in England, £748 (7.9%) in Wales, and £965 (8.2%) in Scotland;
• In Northern Ireland, average rents increased by 10% in the 12 months to May 2024;
• In England, rents inflation was highest in London (9.7%) and lowest in the North East (6.1%).

Yesterday, we found the UK economy grew 0.6% over three months to the end of June. 

That growth rate was the second highest among the G7 group of industrialised nations - only the United States performed better with 0.7%, though Japan and Germany have yet to released their latest data.

Interestingly, there was no growth at all in June, the Office for National Statistics said, as businesses delayed purchases until after the general election.

"In a range of industries across the economy, businesses stated that customers were delaying placing orders until the outcome of the election was known," the ONS said.

Finally, a shout for this analysis from business presenter Ian King examining what's gone wrong at Asda. It's been one of our most read articles this week and is well worth five minutes of your Friday commute or weekend...

We're signing out of regular updates now until Monday - but do check out our weekend read from 8am on Saturday. This week we're examining how couples who earn different amounts split their finances.

Each week we feature comments from Money blog readers on the story or stories that elicited most correspondence.

Our weekend probe into the myriad reasons for pub closures in the UK prompted hundreds of comments.

Landlords and campaigners, researchers and residents revealed to Sky News the "thousand cuts" killing Britain's boozers - and what it takes to survive the assault.

Here was your take on the subject...

I've been a publican for 19 years. This article is bang on! It's like you've overheard my conversations with my customers - COVID, cost of living, wages - the traditional British boozer going out of fashion. (My place: no food, no small children). Hey Jood

I own a small craft ale bar or micropub as some say. The current climate is sickening for the whole hospitality sector. This summer has been ridiculously quiet compared to previous ones. Micropubs were on the rise pre-COVID, but not now even we're struggling to survive… Lauren

I am an ex-landlord. It's ridiculous you can buy 10 cans for £10 or one pint for £5 now. It's not rocket science, it's a no-brainer: reverse the situation. Make supermarket beer more expensive than pub beer, then people will start to go out and mix again rather than getting drunk at home. Ivanlordpeers

Bought four pints of my regular drink at a supermarket for less than one pint in our local pub. It's becoming a luxury to go to a pub these days. Torquay David

Traditional pubs are being taken over by conglomerates who don't sell traditional beer, only very expensive lager, usually foreign, and other similar gassy drinks. How can they be called traditional pubs? Bronzestraw

The main reason for pubs closing is twofold! 1: The out-of-reach rents that the big groups charge landlords. 2: Landlords are told what stock they can hold and restrict where they can purchase it from. Strange, but most pubs belonged to the same groups! A pub-goer

Less pubs are managed now, pub companies are changing them to managed partnerships, putting the pressure onto inexperienced young ex-managers. Locals complain that their local pub has gone. but they don't use them enough. Can government regulate rents and beer prices for business owners? John Darkins

I was a brewery tenant in Scotland for many years and sequestrated because of the constant grabbing at my money by greedy brewers who wanted more and more. I made my pub very successful and was penalised by the brewery. James MacQuarrie 

The only reason pubs are closing is locals only use them on Boxing Day, New Year's Eve, and one Sunday a year. Plus breweries don't need pubs, they sell enough through supermarkets! Use them or lose them. Peter Smith

The closing of pubs is a terrible shame. I still go to my local and have great memories of getting drunk in many in my hometown. They are important places in society. As someone once said: "No good story ever started with a salad." Kev K

It's the taxman killing pubs. £1 of every £3 sold. Utter disgrace. Stef

I go with my girlfriend, Prue, every day to my local. It's a shame what's happening to prices. It used to be full of people and joy but now it's a ghost town in the pub since prices are too high now. I wish we could turn back time and find out what went wrong. Niall Benson

Minimum wage is around £11 and the tax threshold is £12,600 per year. How can you possibly afford a night in a pub out when a pint costs between £3 and £8 a pint on those wages? Allan7777blue

Unfortunately, the very people who have kept these establishments going over the years (the working man) have been priced out, and they're paying the price. Dandexter

The pubs are too expensive for people to go out regularly as we once did a decade or so ago. People's priorities are on survival, not recreation. Until the living wage increases beyond an inflation that wages haven't risen above in years, then we will see shops, pubs, etc. close JD

Who wants to spend hard-earned money going into a pub that's nearly always empty. It takes away one of the main attractions - socialising. Michael

Monzo has been named the best bank in the UK for customer satisfaction, according to a major survey. 

More than 17,000 personal current account customers rated their bank on the quality of its services and how likely they would be to recommend to friends or family. 

Digital banks made up the top three, with Monzo coming out on top, followed by Starling Bank and then Chase. 

Some 80% of Monzo customers said they would recommend the bank. 

The digital banking app said topping the tables "time and time again" was not something it would "ever take for granted". 

Royal Bank of Scotland (RBS) was bottom of the ranking for another year. 

The banks with the best services in branches were Nationwide, Lloyds Bank and Metro Bank. 

Gail's bakery chain has come under fire for repurposing unsold pastries into croissants and selling them for almost £4 the next day.

The retailer lists the "twice baked" chocolate almond croissants as part of its "Waste Not" range, which means it is made using leftover croissants that are then "topped with almond frangipane and flaked almonds".

The scheme has been hit with criticism online, with many pointing out the £3.90 price tag is 95p more than the original croissant.

One X user said: "The audacity of bragging about it being part of their 'Waste Not' range like we should be grateful to them and proud of ourselves for contributing to reducing food waste when they could just sell it for less money – not one pound more than yesterday.

"Unsure whether to be impressed or horrified that someone has come up with a concept to capitalise on yellow sticker goods to make more profit."

It should be added, however, that the practice was not invented by Gail's - and almond croissants were originally created by French boulangeries to reuse day-old croissants and stop them going stale.

When factoring in the extra ingredients (almond frangipane and flaked almonds) and baking time, the bakery chain would likely defend the increased price by pointing to the additional costs incurred.

It comes as locals in a trendy London neighbourhood signed a petition against a Gail's bakery setting up shop in their area.

After (unconfirmed) rumours began circulating that the chain was looking to open a site in Walthamstow village, more than 600 have signed a petition opposing the plans.

The petition says the village "faces a threat to its uniqueness" should Gail's move into the area (see yesterday's 11.54am post for more).

Gail's has been contacted for comment.

British retailers saw a rise in sales last month after a boost from Euro 2024 and summer discounting, according to official figures.

High street retailers said sales of football shirts, electronics such as TVs, and alcoholic drinks were all stronger amid the Three Lions' journey to the final.

Total retail sales volumes rose by 0.5% in July, the Office for National Statistics (ONS) said. It was, however, slightly below predictions, with economists forecasting a 0.7% increase.

It followed a 0.9% slump in volumes in June as retail firms blamed uncertainty ahead of the general election and poor weather.

ONS director of economic statistics, Liz McKeown, said: "Retail sales grew in July led by increases in department stores and sports equipment shops, with both the Euros and discounting across many stores boosting sales.

"These increases were offset by a poor month for clothing and furniture shops, and falling fuel sales, despite prices at the pump falling."

The data showed that non-food stores saw a 1.4% rise, driven by a strong performance from department stores, where sales grew by 4% for the month as summer sales helped to stoke demand.

However, clothing and footwear shops saw a 0.6% dip, whilst homeware retailers also saw volumes fall 0.6%. Food stores, meanwhile, saw sales remain flat for the month.

There are fears that the £2-cap on single bus fares could be scrapped after the government declined to say whether the policy would continue past December.

Bus companies said it was vital the cost of using their services is kept low for young people to "enhance their access to education and jobs".

Alison Edwards, director of policy and external relations at industry body the Confederation of Passenger Transport, said: "Bus operators are working closely with the government so that together we can find a way to avoid a cliff edge return to commercial fares.

"Analysis has shown that supporting fares, which can be done in a range of different ways, is great value for money and can support many other government objectives.

"For example, keeping fares low for young people would enhance their access to education and jobs, while also encouraging them to develop sustainable travel habits to last a lifetime."

Transport Secretary Louise Haigh said in a recent interview with the PA news agency that her officials were "looking at various options" in relation to the cap, including whether they could "target it better".

It's been a busy week on the economic front.

There was no major shift in the overall outlook - since Monday we've had it confirmed that the UK economy has lower inflation and more growth than the last two years, while wages have grown faster than the overall pace of price rises.

On the back of all that news the pound is at the highest rate since early this month against the dollar, worth $1.2882, and the highest since July when it comes to buying euro with one pound equal to €1.1733. 

Signs of a recovery from the global market sell-off of Monday last week can be seen in the share prices of companies listed on the London Stock Exchange.

Share prices have grown among the most valuable companies on the stock exchange, those that comprise the Financial Times Stock Exchange (FTSE) 100 list of most valuable companies.

Today though, this benchmark UK index fell 0.19% but finishes the week higher than the start.

Also finishing the week higher than the start are the more UK-based companies of the FTSE 250 (the 101st to the 250th most valuable firms on the London Stock Exchange).

On Friday morning that index was up 0.08%. 

With tensions in the Middle East and Eastern Europe high as Iran mulled a retaliatory strike on Israel and Ukraine made incursions into Russian territory, there had been concern about energy price spikes.

But the benchmark oil price has remained steady at $80.13 dollars for a barrel of Brent crude oil.

Gas prices have remained below the Monday high of 100 pence a therm (the measurement for heat) and now are 94.50 pence a therm. 

A Cabinet Office minister has said it is "unfair" to suggest other public sector workers will be queuing up for a pay rise after the government's offer of a 15% increase for train drivers and junior doctors.

"I think that's an unfair characterisation as well," paymaster general Nick Thomas-Symonds told Times Radio.

"I think what is absolutely crucial here is we are a Government again that is sticking to the promises we made in opposition.

"We promised we would sit down and find solutions, and people expressed scepticism about that, but actually that is precisely what we have done in Government."

Last month, the government and the British Medical Association struck an improved pay deal for junior doctors in England worth 22% on average over two years.

Meanwhile, train drivers will vote on a new pay deal following talks between representatives of drivers' union ASLEF and the Department for Transport.

The new offer is for a 5% backdated pay rise for 2022/23, a 4.75% rise for 23/24, and 4.5% increase for 24/25.

The Dartford Crossing is the highest-earning toll road in the UK, new data shows. 

The Kent to Essex route raked in £215.9m in the last year - 2,159 times more than the Whitney toll bridge in Hereford. 

The crossing, which was supposed to stop charging customers in 2003, costs between £2 and £6 to use (depending on the vehicle you're driving) between 10am and 6pm every day. 

Car finance company Moneybarn found it earned just over £209m in 2022. 

It topped the chart of 13 toll roads in the country, making over £100m more than the second highest-earning road in 2023 - the M6 Toll in the West Midlands. 

In third place was the Mersey Gateway Bridge between Halton and Cheshire, which made £48.9m. 

You can see how the other toll roads fared below... 

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Trump Dangles New Tax Cut Proposals With Real Political Appeal

The most recent and costliest of Mr. Trump’s ideas would end income taxes on Social Security benefits.

• Share full article

By Andrew Duehren

Andrew Duehren writes about tax policy.

First it was a tax cut for hotel and restaurant workers in Nevada, a swing state where Donald J. Trump proposed exempting tips from taxes . Then, in front of powerful chief executives gathered in Washington, Mr. Trump floated cutting the corporate tax rate , helping to ease concerns in the business community about his candidacy.

Now Mr. Trump is calling for an end to taxing Social Security benefits, which could be a boon for retirees, one of the most politically important groups in the United States.

Repeatedly during the campaign, Mr. Trump and Republicans have embraced new, sometimes novel tax cuts in an attempt to shore up support with major constituencies. In a series of social-media posts, at political rallies, and without formal policy proposals, Mr. Trump has casually suggested reducing federal revenue by trillions of dollars.

While policy experts have taken issue with the ideas, Mr. Trump’s pronouncements have real political appeal, at times putting Democrats on their back foot. Nevada’s two Democratic senators and its powerful culinary union have endorsed ending taxes on tips. The AARP supports tax relief for seniors receiving Social Security benefits, though it has not taken a position on Mr. Trump’s proposal.

“You do have to scratch your head a little bit when someone’s going around offering free lunches everywhere,” said Jesse Lee, a Democratic consultant and former Biden White House official. “We’re all for people having their lunch, but we have to raise taxes on the wealthy to pay for it.”

The most recent and most expensive of Mr. Trump’s plans is ending income taxes on Social Security benefits, which could cost the federal government as much as $1.8 trillion in revenue over a decade, according to the Committee for a Responsible Federal Budget. That would burn through the program’s financial reserves more quickly and hasten the moment when the government is no longer able to pay out Social Security benefits in full under current law.

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