Fail to plan... or Plan to FAIL??
Running a business, whether it be an offline multi-billion dollar company or an online part time home business, they share many similar traits.
One of the biggest obstacles I have endeavored to translate to many, many small business / home business people, is a very simple phrase......' Treat It Like a REAL business, Because It IS a REAL Business'.
The fundamental reasoning behind so many failures in small business, is the clear lack of willingness to act like a real business. Many people may ' have a go ', they could ' give it a try ', or ' let's see what happens ' - all with the.. ' what have I got to lose? ' attitude. THAT, my friends, is one of the biggest secrets to FAILURE.
OK - so let's assume that your small business / home business / BizOp etc., is NOT you main source of income. It is NOT responsible for putting food in you family's stomachs, it is NOT what keeps a roof over your head..... it is NOT the sole form of income that you, your family and your Bank Manager rely upon.
So look at it like this. If it WAS, would you put as much effort into it as you do now? I can pretty much guarantee that your efforts would be substantially more, because everything relies on the success of your business, vis-ŕ-vis the money your business generates.
Well, now we have ascertained that you should be running it like a real business.......Are you?
> Do you have a business plan?
> Do you know each step that your business will take over the next week, month, year, three years....?
> Have you prepared your agenda for acquiring new customers, products, joint venture partners?
> Do you have a timetable of events?
> How often do you research, analyse, read-up and check out your competitors?
> When was the last time you contacted your client base?
> Do you offer them special offers, free resources and reports? What about surveying them and asking for their opinions?
> How often do you do all this?
> Does your business have a 'company objective'?
> Has your 'company' it's own 'customer mission statement'?
> Have you set yourself / your business targets....use my S.M.A.R.T. Principle...... .......targets which must be
= Specific.............. each item / area of business must be targeted specifically.
= Measurable........ be able to measure your targets, how much, how often etc.
= Achievable........don't think that you can sell 2 million units if your competitors only sell 50 units.
= Realistic.............. be honest with yourself. Can it be done?
= Time-bound.......give limitations and deadlines to whatever you are planning. Open-ended is no good.
If you want to run your BUSINESS 'willy-nilly', or 'Gun Ho' - then expect eventual failure. However, with some applied thought, planning and foresight, you can develop your little, part-time home business into something which definitely has increased chances for success.
Apply time-management techniques, stick to time-tables and deadlines. Look out for 'Time Thieves'........ These are people or events which steal time from you, time which could be more effectively used elsewhere.
Example: Someone calls and asks when you can deliver a certain item, you reply "within two days", they are happy with your response BUT instead of the conversation finishing, they go on to talk about weather, sports, families etc...
.....before you know it, a one-minute call has turned into a 30 minute episode of everything except business. Not Good. This is time you could have efficiently used elsewhere.........they have stolen your time from you. Look out for the 'Time Thieves' - they are everywhere. Spot them - deal with them.
Time Management is KEY to business planning. If your plan has a tight schedule to work to, then your management of ever-so valuable time will be very important. Plan your time carefully, effectively and efficiently......but do allow for some overspill and overlap.......it happens in any business!
One KEY fundamental of business planning is the ability to be flexible and adaptable. Never assume that once you create your plan, that you must stick to it rigidly, but flexible when necessary, but not to the detriment of the your success. Remember, overspill and overlap work both sides of the same coin.
PLAN. Plan carefully, plan honestly, plan realistically. But you must plan.
Final thought. Think long and hard about the 'company / business objective' and the 'Customer Mission Statement'.
Put together a short (two - three sentences) paragraph for each, which clearly defines..... A). What your business is all about. B). What your customers can expect from your business.
Chose the words carefully, put into 2-3 sentences everything that encapsulates both statements totally and work to these statements closely.
Plan for success, because without planning, you will fail.
Copyright © 2004 Gary Durkin All rights reserved worldwide.
Gary Durkin is the owner / CEO of
http://www.DoubleEdgeMarketing.com
http://www.247-Profit.com
http://www.eProfitGroup.com
http://www.InternetAdviceCenter.com
http://www.AffiliateMastermindProtege.com
...and the creator of the Serling Combination® package.
Gary has enjoyed more than a decade of international business success, and has been doing business online for 5 years.
Offline, Gary controls millions of dollars worth of global investments each day... online he applies to skills he has developed over the years by working with some of the World's leading internet marketers and specialists.
More Resources
Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exitingMore Strategic Planning Information:
Related Articles
Do You Have A Customer Identity Crisis?
The trick is to determine what uniquely identifies your best customers. Fortunately, deriving this information is not difficult, and in many cases can be obtained from innocuous questions.
The Magic Of Exponential Business Growth
Is there a 'magical' way to exponentially grow your business?It's about the timeless business principle known as "Re-investment".Look, one of the most exciting times for any new business is the time when effort begins to pay off.
How To Prepare A Business Plan That Guarantees Big Profits
It is always said "If you Fail to Plan, you Plan to Fail"
Success in business comes as a result of planning. You have to have a detailed, written plan that shows what the ultimate goal is, the reason for the goal, and each milestone that must be passed in order to reach your goal.
Business Problem Solving
Is there really anything as a problem? Does chaos or challenge mean you have a problem? I am under the belief that such things as other call problems are indeed the life-blood of opportunity and the louder it knocks the greater the gain. Embrace chaos.
College Students and Graduates to Run Company Outlets or Franchises
Does your overall business strategy include the recruitment of college students to run your locations? Are you a franching company and looking for young, talented, hardworking and dedicated franchisees? There are some things to think about before you deploy such a strategy. There are both positives and negatives to focusing your recruitment efforts on college students, for instance best reason's to use college students include some of the following:They May Have Rich Parents Who Can Pay Outright For A Franchise;They May Have Parents Who Are Willing To Co-Sign For A Franchise;They are Young With Plenty Of Energy;They Have Little Business Experience And Will Not Try To Rewrite Our System;They Are Used To A Very Structured Environment;They Want To Succeed;They Might Have A Business Degree;They Are Sociable Animals And Good With People;They Will Study Our Operations Manual Cover To Cover;They Will Make Two To Three Times As Much With A Franchise Than Their First Corporate Job;They Love To Have Fun And This Is A Fun Job.
Breaking the Growth Barriers in the Information Technology and Software Sector
There's nothing automatic about corporate growth, particularly in the information technology industry; build it and they will come is a myth. In the real world there is either a structured, process-driven growth cycle, or stagnation-and stagnation is automatic.
I Always Play by the Rules and It Stinks!
This week I coached a wonderfully lovely woman I'll call Jill. She's a bright woman, very compassionate and sweet.
5 Strategies That Will Boost Your Business Productivity Today! - Part 2
Growing your own small business can be one of the most exciting journeys you could ever embark upon!But it's important that you continuously implement new and fresh ways to generate sales and improve your profitability in order to stay ahead of the market!Here are the next 5 Strategies to help you propel your business to new heights of success!1. Develop your own Loyalty ProgramIf you have a look in my wallet, I have a Jesters Pies Card, a Subway Card and a Video Ezy card - all of which entitle me to something for nothing once I have made enough purchases!Some people will call me cheap?I just think it makes sense! If I'm going to buy something anyway?why not go somewhere that rewards me for my loyalty?If people have to buy your type of product or service from somewhere, why not make it more attractive for them to buy from you?Create your own loyalty program and create regular, satisfied customers who get rewarded for giving you their business!2.
Microsoft Great Plains in Agriculture - implementation highlights
In this small article we'll concentrate on farmers associations and non-profit state-sponsored organizations, dealing with subsidized state and federal programs distribution and management - loans to farmers and rural communities. As we realized this is relatively narrow market niche and it is almost ignored by software developers.
Connecting Your Offline Business to Your Online Business
These may sound like no brainers, but you'd be surprised. No matter how high-tech your business has become, there is no doubt you still have some non-electronic aspects of your company.
3 Ps of Planning - Prepare, Personalize, Pilot
Here's a really simple way to make sure your plans always
produce the results you expect."There is one quality which one must possess to win, and
that is definiteness of purpose, the knowledge of what one
wants, and a burning desire to possess it.
Nine Succession Planning Mistakes Small Businesses Should Avoid
1. Attempt Succession Planning Without Other Strategic Plans.
Alice In Wonderland - A Parable for A Business Plan
Remember reading "Alice in Wonderland?"She asks the Cheshire Cat, "which way I ought to go from here?"
"That depends a good deal on where you want to get to," said the Cat.
"I don't much care where," said Alice.
Planning for Success
Business planning is widely acknowledged as one of the
keys to business success. Yet there is still a great
reluctance by small business owners in this area.
Own Your Niche by Building a Niche Community
In 1997, David Steele was making the transition from a professional therapist to relationship coach. Part of his strategy was to become a center of influence and THE Relationship Coach for his community.
Do You Really Need a Business Plan?
"I don't need a business plan."Neither did Alice in Wonderland.
Abstract thought on Business Strategy and Nature
Here is an abstract thought on studying nature and the natural order of things; things which work to help you better understand and strategize in business, war, sports or military operations. Let's compare the methods of distribution of organic viruses to all other more obvious distribution methods.
Top Reasons To Form A Strategic Business Alliance
A strategic alliance is when two or more businesses join together for a set period of time. The businesses, usually, are not in direct competition, but have similar products or services that are directed toward the same target audience.
Dayton, OH; Why your Company needs to expand there
In Ohio: besides the 3-Cs you should look at Akron, Dayton, Canton, Toledo, Youngstown and their suburbs. We have been serious studying these areas quite intensely for quite a while, here is what we found; Dayton OH, is looking up after the recent GM Plant received high ratings for productivity being able to beat the Domestic Averages for time to build cars and SUVs, it's SUV Plant was amongst the top performers in the Country for time to build at an average of 20.
3 Undercover Ways to Make Big Profits from Your Competition
You have heard that there is extra money on the table
marketing products related to yours. You have also heard
that your direct competitors product is off the table.