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12 Steps to Implementing Anything in Your Business : Step Six: Use Plans, Schedules, Budgets and Controls
| Guest post by: David Flannery |
Article Overview: After your launch event you will have your staff fired up any ready to go, as this stage you may still have some minor problems to contend with but you will have a goal, major elements of your plan, your management process, your team(s) working together, and things should be heading in the right direction.
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Free Download - Advertising: the nuts and bolts of making it work: Step Five: Make sure your ad does not look like your competitors. By David Flannery |
12 Steps to Implementing Anything in Your Business : Step Six: Use Plans, Schedules, Budgets and Controls
After your launch event you will have your staff fired up any ready to go, as this stage you may still have some minor problems to contend with but you will have a goal, major elements of your plan, your management process, your team(s) working together, and things should be heading in the right direction.
The major key at this stage to keeping everyone moving forward towards the goal and co-ordinating their efforts is ...the detailed work plan. The written work plan is the principal tool for guiding action and managing execution. The work plan is a road map .It provides an orderly guide for channeling all the team's energy toward the goal and lining up the resources to support the effort so the plan can be executed successfully.
However, remember, this is all about execution, so do not go into analysis paralysis and over planning both of which are a huge waste of time.
The plan is essentially a device to establish control of human activity and harness it to your objective. It maps out what needs to be done, when and in what sequence. The plan is the foundation for control.
In addition to the plan, control steps are needed to gauge how the work is actually progressing, what results are being achieved and what resources are being used to obtain those results. The level of control depends on the size and complexity of the plan. For a small or mid sized business, I have found that the most effective control is a review meeting where the team members report on their progress, the frequency of these meetings is up to the person in charge of execution the plan and achieving the goal i.e. daily, weekly or monthly. Instead of writing reports on the results being achieved, put all information on easy to understand and easy to read charts.
It will be tempting to measure everything during the implementation of your plan; however it is better to keep tracking as simple as possible. Make charts simple, readable and available to everyone who needs to know and you won't go to far wrong.
Remember it is results you want not perfect plans and controls, therefore you must make sure that the controls you put in place do not impede effective action being taken by your team.
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About the Author: David Flannery RSS for David's articles - Visit David's website David Flannery is the founder of Profit Growth Dynamics International helping companies methodically and systematically increase their sales and profits, reduce their customer losses to their competitors and separate themselves from their competition. He is the author of The Profit Crisis Exposed report and the soon to be published book The SETE Five Step Action Plan For Doubling Your Profits. For more information on growing your business profits visit http://www.massiveprofitgrowth.com now Click here to visit David's website   Buyers Remorse What is it And How Do You Avoid It 12 Steps to Implementing Anything in Your Business Steps Eleven Twelve Create and Manage a Final Push Towards the End Advertising the nuts and bolts of making it work Step Four Be clear about your offer and what you want your prospects to do and give them a reason to take immediate action 12 Steps to Implementing Anything in Your Business Step One Take Responsibility 12 Steps to Implementing Anything in Your Business Overview |
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Re: Your choice between...
- I will take the $100,000 and double it on it becomes millions before I spend it. Though I am crazy about information, yet I would rather take the money and turn it into a million before I spend a dime out of it. I will do it in 4 steps.
Step 1 turn $100,000 to $200,000
Step 2 turn $200,000 to $400,000
Step 3 turn $400,000 to $800,000
Step 4 turn $800,000 to $1600,000.
After getting the goal of step 4, I will spend the $600,000 on myself then continue to double the millions again. I could then by the book for $1,000,000
New Study - Women prepare better business plans
- I found an article in Business Week and I found this quite interesting.
[quote:ka7lg35i]Who Prepares Better Business Plans, Men or Women?
A new study based on four years of data from men and women in a training program for microenterprises finds that they come out the same in quality scores. "However, women scored significantly better on the presentation of their plan to judges," conclude the study's authors, Ronald G. Cook, Paul Belliveau, and Christine Lentz of Rider University, in a paper presented at a recent meeting of the Small Business Institute. [/quote:ka7lg35i]
What do you guys think?
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Step by step approach
- Here's what I would do;
Step 1 - Observe Wal-Mart’s target customers, what does Wal-Mart offer them? How long do they stay? Discover what it is that they might want or need that Wal-Mart doesn't offer, and then write those ideas down. Some ideas to get you started are - A cafe or fast food venue, something for the kids to do while the parents shop, etc
Step 2 - Take that list, and weigh up the pros and cons of each idea, and then select the best one for you. Don't worry about not using all the space.
Step 3 - Start the best business for you, and then release the other ideas to the general market and sublet the rest of the space to those who could fill some of the niches you've come up with, plus any they can come up with. If money isn't a factor then developing the building to suit multiple small leases may be a better option, as it's a diversified income, which is potentially more stable than one big income stream.
Re: Finance - Budgeting
- Hi,
Budgets are an essential but often missused and abused part of business especially in the early days.
It is very easy to dip into capital reserves at the risk of the business if accurate and realistic budgets are not set and adhered to.
regards,
Mal.
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