Business Planning - It's The Second Quarter, Do You Know Where Your Business Is?
Business Planning - It's The Second Quarter, Do You Know Where Your Business Is?
I'm sure you've heard the adage, "If you're failing to plan, you're planning to fail." And you probably thought, "Gee that's clever, a little corny, but it doesn't really apply to me." Well, I urge you to think again.
I work with a lot of independent professionals and self employed business people, and over the years I've noticed a definite commonality amongst those who are very successful, and those who are continuing to struggle - my most successful clients always have a plan.
I realize that many entrepreneurs get scared by the term business plan. They imagine some monstrous document with multiple appendices that lands with a thud on their banker's desk. And at first, some new clients are hesitant to spend their time creating a business plan. They claim their business is too little, they don't need bank funding, there's no need for a business plan. Sound familiar?
While it's true that I have created business plans that ended in million + dollar bank financing, when coaching my entrepreneurial clients, this is not what I mean when I suggest creating a business plan. Since, chances are, you don't intend to get bank financing what you really need is an easy to understand, concise plan that you can refer to often.
As an entrepreneur, I bet you're constantly getting distracted, bombarded from every direction (I know I am). You need a plan that can map out your business activities and help you set goals and objectives. You need something that's easy to read and that will keep you on track when those million distractions and "next great ideas" keep popping up.
So I challenge you to sit down this weekend and start creating your simple business plan. Just grab a few sheets of paper and briefly outline exactly where you want to be in nine months and exactly how you plan to get there. Don't worry about grammar or sentence structure or spelling; this is for your eyes only.
And then - and this is the most important step - pull your plan out and review it each morning. Take five minutes to ask yourself, "Do the things I'm going to do today fit into this plan and how will they bring me closer to where I want to be in nine months?"
Action Item - Don't get scared off by the thought of creating a business plan. Instead, start small by creating your mission statement. Just answer these three questions:
What is the purpose of your company - what needs are you trying to fulfill?
What is the business of your company - what are you doing to fulfill those needs?
What are the values of your company - what are your guiding principles and beliefs?
Now, take those answers and in one concise paragraph, explain what you do, why you do it and what you stand for. And viola, your mission statement is done!
Now, go find some more clients!
Business Planning Its The Second Quarter Do You Know Where Your Business Is - To learn more about this author, visit Karen Scharf's Website.
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Can you believe the first quarter of the year is almost over?! When you look at your business, the amount of money you've earned, the number of new clients you've added, are you 25% to where you want to be for the year? If not, why not? And what do you plan to do about it?
I'm sure you've heard the adage, "If you're failing to plan, you're planning to fail." And you probably thought, "Gee that's clever, a little corny, but it doesn't really apply to me." Well, I urge you to think again.
I work with a lot of independent professionals and self employed business people, and over the years I've noticed a definite commonality amongst those who are very successful, and those who are continuing to struggle - my most successful clients always have a plan.
I realize that many entrepreneurs get scared by the term business plan. They imagine some monstrous document with multiple appendices that lands with a thud on their banker's desk. And at first, some new clients are hesitant to spend their time creating a business plan. They claim their business is too little, they don't need bank funding, there's no need for a business plan. Sound familiar?
While it's true that I have created business plans that ended in million + dollar bank financing, when coaching my entrepreneurial clients, this is not what I mean when I suggest creating a business plan. Since, chances are, you don't intend to get bank financing what you really need is an easy to understand, concise plan that you can refer to often.
As an entrepreneur, I bet you're constantly getting distracted, bombarded from every direction (I know I am). You need a plan that can map out your business activities and help you set goals and objectives. You need something that's easy to read and that will keep you on track when those million distractions and "next great ideas" keep popping up.
So I challenge you to sit down this weekend and start creating your simple business plan. Just grab a few sheets of paper and briefly outline exactly where you want to be in nine months and exactly how you plan to get there. Don't worry about grammar or sentence structure or spelling; this is for your eyes only.
And then - and this is the most important step - pull your plan out and review it each morning. Take five minutes to ask yourself, "Do the things I'm going to do today fit into this plan and how will they bring me closer to where I want to be in nine months?"
Action Item - Don't get scared off by the thought of creating a business plan. Instead, start small by creating your mission statement. Just answer these three questions:
What is the purpose of your company - what needs are you trying to fulfill?
What is the business of your company - what are you doing to fulfill those needs?
What are the values of your company - what are your guiding principles and beliefs?
Now, take those answers and in one concise paragraph, explain what you do, why you do it and what you stand for. And viola, your mission statement is done!
Now, go find some more clients!
Business Planning Its The Second Quarter Do You Know Where Your Business Is - To learn more about this author, visit Karen Scharf's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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