Focus: 5 Reasons Business Owners Need To Business Plan

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Business Planning is IMPORTANT, it's been BROKEN, It's EASY and it can be FAST! FOCUS31 guarantees it!


In this segment FOCUS31 identifies the 5 reasons business ownes need to plan.

We've discussed previously the 5 reasons why, as business owners, we don't Business Plan. Basically, Business Planning has been BROKEN.

But at the same time Business Planning is IMPORTANT. Why? Well there are 5 reasons:
-Wouldn't any business owner want to clarify and achieve the future they believe in?
-Wouldn't any business owner want to make better quality decisions and reap greater financial rewards from those decisions?
-Wouldn't any business owner want to focus on the major few not always the minor many priorities and actually advance and improve their business?
-Wouldn't any business owner want to be a great strategist as well as a great tactician as we all are learned from day to day fire fighting?
-Finally, wouldn't any business owner want to have a business based on continuous improvement.

And here is Bonus Reason ...Peter Drucker said to. Well actually Peter Drucker said that Profit is the benchmark of success in business. But it is well recognized that planned revenues will be greater then unplanned revenues and planned expenses will be less than unplanned expenses and so planned profit will be greater than unplanned profit. So if Profit is the benchmark of success than Peter Drcuker is telling us to engage in Business Planning.

Learn how to engage in effective Business Planning with FOCUS31. Email james@focus31.com.

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  • Business Planning is IMPORTANT, it’s been BROKEN, It’s EASY and it can be FAST! FOCUS31 guarantees it! In this segment FOCUS31 identifies the 5 reasons business owners need to plan. We’ve discussed previously the 5 reasons why, as business owners, we don’t Business Plan. Basically, Business Planning has been BROKEN. But at the same time Business Planning is IMPORTANT. Why? Well there are 5 reasons: -Wouldn’t any business owner want to clarify and achieve the future they believe in? -Wouldn’t any business owner want to make better quality decisions and reap greater financial rewards from those decisions? -Wouldn’t any business owner want to focus on the major few not always the minor many priorities and actually advance and improve their business? -Wouldn’t any business owner want to be a great strategist as well as a great tactician as we all are learned from day to day fire fighting? -Finally, wouldn’t any business owner want to have a business based on continuous improvement. And here is Bonus Reason #6 ...Peter Drucker said to. Well actually Peter Drucker said that Profit is the benchmark of success in business. But it is well recognized that planned revenues will be greater then unplanned revenues and planned expenses will be less than unplanned expenses and so planned profit will be greater than unplanned profit. So if Profit is the benchmark of success than Peter Drucker is telling us to engage in Business Planning. Learn how to engage in effective Business Planning with FOCUS31. Email james@focus31.com
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Focus: 5 Reasons Business Owners Need To Business Plan

  1. 1. 5 SECRETS to Effective Business Planning<br />
  2. 2. Boy, do we plan…<br />But…we FAIL to plan the cash <br />flow that fulfills our DREAMS!<br />
  3. 3. Boy, do we plan…<br />We FAIL to Business Plan!<br />
  4. 4. 5 REASONS BUSINESSES FAIL TO PLAN<br />
  5. 5. Reason #1<br />What is a Business Plan?<br />
  6. 6. Reason #2<br />Takes too long<br />
  7. 7. Reason #3<br />Who’s the Business Plan for?<br />
  8. 8. Reason #4<br />Sustainment?<br />
  9. 9. Reason #5<br />It’s in my HEAD!<br />
  10. 10. Do you have a mental roadmap?<br />
  11. 11. Telepathy<br />Until we have found the source of <br />telepathy <br />a Business Plan in the Head... <br />is no Business Plan at all!<br />
  12. 12. It’s Broken<br />With Bankers, Accountants, and Consultants recommending you create 25 – 50 page documents!!!<br />
  13. 13. Mom I hate Carrots!<br />But we ate them because<br />it was……<br />Good for us!<br />
  14. 14. 5 REASONS BUSINESSES NEED TO PLAN<br />
  15. 15. Reason #1<br />Clarify the Future <br />
  16. 16. Reason #2<br />Make better decisions<br />
  17. 17. Reason #3<br />Focus on the right priorities<br />
  18. 18. Reason #4<br />Be a GREAT strategist<br />
  19. 19. Reason #5<br />Continuous improvement<br />
  20. 20. BONUS Reason #6<br />Peter Drucker Said To!<br />
  21. 21. 5 SECRETS TO EFFECTIVE BUSINESS PLANNING<br />!<br />
  22. 22. Secret #1<br />Have a VISION Statement<br />Answers the question…<br />What Are You Building”<br />In the form of<br /><ul><li>How much? (Revenue)
  23. 23. By when? (3 years)
  24. 24. Doing what?
  25. 25. For whom?
  26. 26. In what geographical location?</li></li></ul><li>Secret #2<br />Have a Mission Statement<br />Answers the Question…<br />Why does this business exist?<br />4 – 8 powerful words that define the customer experience or what it will become and aligns the employees to it.<br />
  27. 27. Secret #3<br />Have Annual Objectives<br />Answers the Question…<br />What will be measured?<br /><ul><li>Revenue
  28. 28. Profit
  29. 29. Net New Customers
  30. 30. Verb + Noun + Date .</li></ul>You must measure them!<br />
  31. 31. Secret #4<br />Have Strategies<br />Answers the Question…<br />How will this Company be built?<br />= BHAG + 3 or 4 ways to progress the Company towards their achievement<br />Have 4 – 5 BHAG eg.<br /><ul><li>Perfect Business Planning
  32. 32. Raving Fans
  33. 33. Employer of Choice</li></li></ul><li>Secret #5<br />Have Action Plans<br />Answers the Question…<br />What work must be done?<br />Format of:<br />Verb +Project Name+ Due Date <br />Eg. Launch web site by 05/31/11<br />Other: <br /><ul><li>Max. 3/Quarter
  34. 34. Max. 9 at any give time</li></li></ul><li>5 BENEFITS OF BEST PRACTICE BUSINESS PLANNING<br />
  35. 35. Benefit #1<br />You Own It!<br />
  36. 36. Benefit #2<br />Feel The Future!<br />
  37. 37. Benefit #3<br />Be Focused!<br />
  38. 38. Benefit #4<br />Be Accountable!<br />
  39. 39. Benefit #5<br />578AD - 2007<br />Sustainable!<br />
  40. 40. The 6th SECRET TO EFFECTIVE BUSINESS PLANNING<br />!<br />
  41. 41. Bonus….Secret #6<br />
  42. 42. My Guarantee<br />Business Planning is IMPORTANT<br />Business Planning has been BROKEN<br />Business Planning can be EASY<br />Business Planning can be FAST<br />
  43. 43. James M. Burgess<br />905.895.2719<br />james@focus31.com<br />www.focus31.com<br />

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