Tag Archive for: #businesshealth

I’ll Show you mine, if you show me yours!

 

Are you ready and willing to show me yours? – Your Business Plan, that is.

Sharing your written plans with others outside your business is one of the best ways to bring clarity and insights to this document, yet many business leaders are often reluctant to do this.

The key is finding the right audience, someone you trust and is willing to challenge your thinking and provide fresh perspectives. Ideally, you also want someone who has a broad business experience, and not necessarily in your industry.

 

Some possible examples:

  • Business leaders you may know in other industries who are not connected with your business in any way. Offer to review their plan and exchange ideas – “I’ll show you mine if you show me yours.” This could be done one-to-one or with a small group, spaced over time. (If you are involved in a CEO peer group such as The Executive Committee, you have access to this type of opportunity on a regular basis.)

 

  • Senior business bankers

 

  • Senior business accountants

 

  • Other professional advisors, such as M&A firms, business coaches or consultants

 

  • An advisory board (distinct from a formal board)

 

  • A mentor or coach

 

You are looking for a coach’s perspective: Does this plan make sense to you? What parts need clarification? What’s missing? Where are my challenges, opportunities, blind spots?

This may be too large a task to complete is a single meeting and may be better tackled one section at a time.

Presenting your plan to others will require you to be more succinct in documenting the plan and will lead to much greater clarity. And, clarity creates confidence.

Don’t be shy, ask for help. I think you will find most people you ask will feel flattered that you reached out to them.

If you need help in structuring your working plan, please visit our web site, plangenie.com

 

 

 

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.