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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! …

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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Transcript

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

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