Tag Archive for: #businesseducation

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Planning Makes a Difference

In an article published by The Globe and Mail, Jon Umstead proposes that running your business from a documented plan will increase your odds of success by 30-50%. He further states that business leaders who learn how to be better planners not only improve their own business and personal success, but they can collectively change economic growth throughout the country. This article is worth a read. See link at the end.

When I first read this article several years ago, it stuck with me. I knew from my own business experience and from chairing a CEO peer group, that documented plans, along with a commitment to an ongoing planning process, really works. I’m now on a quest to help business leaders everywhere be more successful through better planning.

Here are three things to consider when business planning:

• Structuring the plan
This is the starting point. Once you have clear picture of what information to include in the plan, and what isn’t necessary, this work can go quickly. With a solid structure, it’s simply a matter of adding content. And content can be easily changed and revised over time using the same structure.
• Documenting the plan
Plans kept in your head, or another person’s head, aren’t helpful. Only when you distil your ideas onto a document can these ideas be understood and added to by others.
• Committing to planning
Even well structured and fully documented plans grow stale quickly. Effective planning is a continuous process. It requires discipline to stick to a review schedule with so many competing demands on your time. Take a break, check on your progress, celebrate your achievements and reset priorities for the next quarter.

Over the past few years, we developed a structure for planning in business that makes this task relatively easy for any size business at any stage of growth. We are also compiling resources about planning on our web site (PlanGenie.com). If you have any great tools that you have used successfully, or insights, or questions on this topic, I would love to hear from you.

If you are already on the planning “bandwagon”, please share this message with others. Let’s get the economy going again.

http://www.theglobeandmail.com/report-on-business/careers/leadership-lab/why-would-you-not-have-a-business-plan/article29938400/

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Is your business vaccinated this cold and flu season?

I received a reminder from my physician’s office this week to book my drive through vaccination time slot, which got me thinking about business health.

How is vaccination related to business?

A vaccine stimulates your immune system to produce antibodies, exactly like it would if you were exposed to the disease. After getting vaccinated, you develop immunity to that disease, without having to get the disease first.

This is what makes vaccines such powerful medicine. Unlike most medicines, which treat or cure diseases, vaccines prevent them.

Business planning is a quasi vaccine for your business. The act of planning stimulates your business immune system. Resiliency and immunity don’t just happen, they are learnt and built.

Which component of your business do you want to vaccinate this season?

  • Re write your Unique Business Proposition?
  • Clarify your company Purpose?
  • Set new short and long term goals?
  • Document the new strategies you have adopted through the Covid experience?
  • Revisit your Value statements – would it be helpful to restate the required behaviors and beliefs you need from your team to succeed in the months and years ahead?
  • Any changes in your products and services, fees, or your target market?
  • Time to refresh and strengthen your relationships with your business partners – your suppliers and/or distributors?
  • Are your departmental plans current for the next quarter, priorities identified and moving forward, or has your leadership team fallen back to reactive mode?
  • Is your organization chart up to date, capturing the changes over the past six months

Some of us tend to be vaccine and needle adverse. Working on your business heath can activate the same feelings of resistance. It can be nerve wracking to know it might hurt a little, even make us feel a bit sick, to find out things aren’t working quite as we want.

You know what they say, “an ounce of prevention”.

Stay Healthy!

For help with these questions or any other help you may need to improve your business health drop us an email.

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