How many of us are prepared to invest in our own survival plans?
It amazes me that so many businesses continue to bury their heads in the sand hoping the storm clouds will pass over when they know the truth is that what they should have done is invest in a storm shelter. The storm shelter will see them through, all that happens when you bury your head is suffocation.
So why are we reluctant to invest in survival plans? We need to be convinced that the investment will bring a return.
Most businesses are started in the belief that with their determination and TALENT their investment will pay dividends. That is not enough.
Businesses owners should ask themselves ‘’If I am expecting my customers/clients to invest in me should I not be investing in myself to ensure their trust is well placed. For a modest amount (often with subsidised support) a business can achieve a great deal if they secure the services of an experienced business growth consultant who has the skills and experience in those areas of business management that are lacking amongst their current resource. An external perspective can also add to a well structured action schedule, just by bringing a broader experience to the process. Choosing the right personality mix is also important.
A few questions
- What does your business action plan look like?
- Do you need help with it?(Be honest)
- How do you target business objectives in a competitive environment?
- Do you need help in this aspect of your business?
- Do you recruit the right staff?
- Do they have a natural flair for innovation and change?
- Would help with recruiting save you money and increase your profits?
- Are you honest and open minded enough when it comes to change and to inviting external influences to review your plans
- DO YOU NEED HELP IN YOUR BUSINESS PLANNING?
A good business action list will focus your mind and should embrace
- Agreeing your Business Objectives
- Marketing your Business Objectives
- Identifying Target Markets
- Developing Relationships
- Developing a Partnership Business model
- Building a culture within the business and establishing the training infra structure.
Small businesses need short and specific objectives based on an understanding of the market and the products you are selling into it. Regular reference to the actions and amendments reflect a professional approach to business but just as important it will ensure you are keeping up with market developments and will put you in an advantageous position as many of the competition will fail to follow a similar route.
Most of us will be familiar with the criticism often levied at football club chairmen and their boards, in that they are accused of leaving their successful business heads back at the office and not till it is too late do they realise they have lost their Premier status. Just like Blackburn Bolton and Wolves 3 in 20 businesses in 2012 will cease to trade …a sobering thought
I have met so many honest hard working business owners in my 40 years in business but those that have applied a structured business planning approach to their business have been in the minority and I have to say the majority have got by on a wing and a prayer. Today’s climate does not accommodate crossed fingers.
Actions speak louder than words ….what are you DOING to SURVIVE and GROW?
Do get in touch for a chat.