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Best of the Janes: Planning for the Future

Guest post by: Michele DeKinder-Smith

Article Overview: Although individual entrepreneurs will plan for their business’ futures based on their unique needs, all of them will make similar considerations when planning. This article provides several tips for all business owners to keep in mind when looking toward the future.

Best of the Janes: Planning for the Future

While each entrepreneur will base her company's plans for the future on her own needs and desires, and on the company's strengths and challenges, she can take certain specific steps to ensure her planning is efficient and effective, to lead her company exactly where she wants it to go.

A recent study from Jane Out of the Box, an authority on female entrepreneurs, reveals there are five distinct types of women in business. Based on professional market research of more than 2,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. This article provides advice for every type of business owner in creating solid plans that lead to a viable future.

• Systematically track key performance metrics. To grow her business in exactly the right way for her, a business owner must understand the gaps that exist between where her company is today and where she wants it to be. To gain that understanding, it is imperative to create clear, measurable goals, and to track the company's performance against those goals. While Jane Dough business owners may strive for fast growth, Accidental Jane business owners will look for ways to maintain an even workload. Whatever her goal, a female entrepreneur should find systematic ways to track her business' performance so she can get exactly to where she wants to go. Direct mail campaigns, e-mail campaigns and "pay-per-click" advertising provide simple and easy-to-use methods for business owners to track performance.
• Get clear on personal priorities. In general, Merry Jane business owners are exceptionally skilled at managing their priorities from work tasks to personal commitments. It is essential for each type of business owner to spend some time and energy taking care of herself. If necessary, an entrepreneur can schedule "me-time" into her calendar and treat appointments with herself with just as much care as those she's scheduled with clients. If a full-scale vacation isn't possible during the busiest time of year, an entrepreneur can schedule her vacation for a point six months in the future when things slow down enough for her to leave her business in the capable hands of her team members. At least once or twice a week, business owners should find some time to unplug, relax and get away, whether it's a walk on the beach, a hot bath in the evening or a night out with that special someone. No one can work at her best if she is exhausted and frazzled. Regular breaks provide opportunities for business owners to recharge and revitalize so that when they return to work, they do so with efficiency and energy. Getting clear on personal priorities is a critical component in planning for the future because as a business grows, so does the number of demands on the business owner - and getting the proper rest and relaxation is essential to personal satisfaction.
• Find the right marketing method. Today's "Information Age" makes marketing a multi-faceted opportunity. From social networking to information marketing, business owners can select a method or a combination of methods that provide the growth she wants to see. For example, if an entrepreneur is looking for fast growth, she may choose to make a big investment in a traditional marketing campaign. On the other hand, if an entrepreneur wants to maintain her workload, she may choose social networking, which provides slow growth over time, based on building relationships. Finally, if an entrepreneur wants to cut down on her workload, she may hone the focus of her marketing efforts to target a very specific ideal client. Again, no matter what she wants for the future of her company, a business owner must develop a marketing method that works.
• Set specific goals - and take real steps toward achieving them. Goal-setting is imperative in planning for the future of any business. A business owner may set one moderate goal or several smaller ones. Once she decides which goal to tackle first, she can then write down all the specific steps for reaching that goal. For example, she may decide she wants to develop a new web site. She can break that goal into several smaller steps including analyzing her current web site and deciding which content to keep, which to improve and which to eliminate, asking friends for references for web site designers, contacting those designers, reviewing proposals, selecting a designer, reviewing new web site content, and going live. For business owners who find it challenging to set and achieve goals, breaking each goal into a smaller "to-do" list makes it seem more manageable.
• Determine an ideal type of business ownership. If a business owner loves her life as it is, feels that she's enjoying the right balance between her personal life and her work life, and is truly satisfied with how her business is doing now, then she may want to continue living as her current type of business owner. On the other hand, she may want to make more money, enjoy more personal time or work with fewer clients. Once they know where they are and where they want to be, they can then assess the disparity between their current type and their ideal type and start taking steps toward becoming their ideal type. For any business owner, planning for the future of her entrepreneurial style is just as important as planning for the future of her company.

Tailoring each of these steps to match an entrepreneur's style, habits and characteristics will ensure that she receives the maximum benefits from each planning tip. Every future looks unique, just as every entrepreneur does. But every business owner must make these important considerations when designing exactly how her future will turn out.

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Article Tags: female business owners, planning for business, small business growth, small business planning, women entrepreneurs
Referred by: http://www.MichelePW.com



Related Forum Posts
Future Financial Corporation - I've never heard of Future Financial Corporation is this a new company?
Re: How do you make the most of your day? - Planning, To Do lists, and deadlines all help me. Also being self critical of my own time management helps me raise the bar. I still check email too often though.
Re: Success - I think it was Gary Player who said the harder I practice the luckier I become when it came to his success as a world class golfer. Planning and dedication to a task can make all the difference between success and failure. MichelleJ
Re: Quote of the Day - "If you hesitate, some bolder hand will s - Excellent quote, Evan. This reminds me of the saying, "The early bird catches the worm." It's important to act on impulses, rather than hesitate and plan. Planning isn't a bad thing and is warranted in certain cases, but those who act quickly will get a step ahead of the competition.
Nice List - Nice list, and I agree with everything you all have added! Planning is the biggest one of all! Look at everything from every aspect possible, and then ask others to look at it as well. It's extremely important that you consider everything before jumping into things, and it goes so much smoother! Also, some young entrepreneurs tend to have an unrealistic mindset (I can sell 4000 of this product in my first week!). Make sure you know what you're getting into, and don't expect something that won't ever happen. ~Marie


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