Planning For Small Businesses

Preparing for a few proposals this morning, I’m seeing a common thread in the lack of planning. On one proposal it’s about marketing and on another it’s about revenue.

I’ve broken down this section into 3 main areas of focus that any business can implement today.

WRITE DOWN YOUR GOALS ON PAPER
I remind clients often that we were never taught that we would remember what we typed or what we said out load, it’s what we write down. We process and store information that we write down differently. That’s why it’s important to get those talks on paper. Write down everything, prioritize, departmentalize and set smaller goals to help you achieve the bigger one in each category or section.

Don’t rush through this process, get very intentional. You know how much your bills are at home next year and you know how much money your family needs to make to pay those bills and live life. Business is no different. You (should) know what next year looks like with expenses, now we can look for a benchmark.

KNOW YOUR NUMBERS
That benchmark is the rearview mirror. I took Econ enough times in college to remember that economics is about what has occured in the past. We can argue innovation and creating more unique revenue streams with strategic partners for the upcoming year but I find that the majority of business owners I meet with aren’t managing their business with that same mindset. In this case, having a true hard look at your historical numbers by service / product line item is crucial. Knowing your numbers and being comfortable with the “why” of that quarter dip and this quarter increase, etc.

Planning for your business can only truly be executed if you’re working with real data and not made up bullshit. This isn’t for fun, this is your business and this is how you make money and support your team and their families. Know your numbers!

GET REALISTC
The final point and an important one is to get real. I mean this is a few different ways. Get real about pushing yourself and your team. Are you running a nice revenue producing lifestyle business or are you always talking about scale and not doing shit about it? Regardless, we all have to stay real when it comes to numbers.

Don’t settle for how things have always been. I wrote a piece for EntreNash about holding on too long. Try really hard to set aside your feelings about your business and get into a quiet space and get very serious about where you’re going in the next 36 months? Where is this business in 5 years? Are you prepared for new competition? Are you creating new revenue streams for your business? Are you still marketing your business the way you did 36 months ago?

Planning is vital for any business to succeed

If you need a random kick in the ass from time to time, want to grab some inspiration or tactical advice around processes, business development, marketing or media — follow me.

Check out my business podcast Brand Forward.
Follow me on TwitterInstagramFacebookLinkedIn & Snapchat

Planning For Small Businesses

Preparing for a few proposals this morning, I’m seeing a common thread in the lack of planning. On one proposal it’s about marketing and on another it’s about revenue.

I’ve broken down this section into 3 main areas of focus that any business can implement today.

WRITE DOWN YOUR GOALS ON PAPER
I remind clients often that we were never taught that we would remember what we typed or what we said out load, it’s what we write down. We process and store information that we write down differently. That’s why it’s important to get those talks on paper. Write down everything, prioritize, departmentalize and set smaller goals to help you achieve the bigger one in each category or section.

Don’t rush through this process, get very intentional. You know how much your bills are at home next year and you know how much money your family needs to make to pay those bills and live life. Business is no different. You (should) know what next year looks like with expenses, now we can look for a benchmark.

KNOW YOUR NUMBERS
That benchmark is the rearview mirror. I took Econ enough times in college to remember that economics is about what has occured in the past. We can argue innovation and creating more unique revenue streams with strategic partners for the upcoming year but I find that the majority of business owners I meet with aren’t managing their business with that same mindset. In this case, having a true hard look at your historical numbers by service / product line item is crucial. Knowing your numbers and being comfortable with the “why” of that quarter dip and this quarter increase, etc.

Planning for your business can only truly be executed if you’re working with real data and not made up bullshit. This isn’t for fun, this is your business and this is how you make money and support your team and their families. Know your numbers!

GET REALISTC
The final point and an important one is to get real. I mean this is a few different ways. Get real about pushing yourself and your team. Are you running a nice revenue producing lifestyle business or are you always talking about scale and not doing shit about it? Regardless, we all have to stay real when it comes to numbers.

Don’t settle for how things have always been. I wrote a piece for EntreNash about holding on too long. Try really hard to set aside your feelings about your business and get into a quiet space and get very serious about where you’re going in the next 36 months? Where is this business in 5 years? Are you prepared for new competition? Are you creating new revenue streams for your business? Are you still marketing your business the way you did 36 months ago?

Planning is vital for any business to succeed

If you need a random kick in the ass from time to time, want to grab some inspiration or tactical advice around processes, business development, marketing or media — follow me.

Check out my business podcast Brand Forward.
Follow me on TwitterInstagramFacebookLinkedIn & Snapchat