Business Planning, Business CouchingBusinessPlanning,BusinessCoaching
Business Planning, Business CouchingTurnaround your business with a strategic business plan. Improve cash flowand revenue, cut business costs and ultimately increase revenue. Click here.Healthy companies understand that there are 5 major areas ofbusiness that must be operated for the whole to grow.Operations: This is the function you get paid to do. The firstpriority is to insure happy satisfied customers.Finance: One of the most under valued areas of a healthy smallbusiness. Finance should be part of every decision made frombudgeting, forecasting purchasing, materials, hiring, andcompensation. Produce weekly summaries of performance aswell as monthly P/L and cash flow reported. Finance alsoestablishes relationships with bankers or lenders, and assessesthe financial needs of the company for the year.What good is doing a great job that you lose or make no moneyon?Sales and marketing: According the small business administrationthis is one of the two main areas why a small company fails, (theother being cash flow or finance). Many small businesses undervalue the cost and time needed to grow new customers and meet
Business Planning, Business Couchingthe cash flow needs of the company. Sales are the fuel that keepsthe company runningHuman Resources: As you grow you will need to focus more ongood hiring practices, training, employee compensation, payroll,insurance for employees, the owners and company, as well aslegal issues. All of these have to fit into the cash flow andbusiness plan.Executive leadership: Business planning, vision of the future,understanding of laws and regulations that affect your industry,relationship building and the over all cohesive function of thevarious departments fall to the executive and senior management.When a business fails to provide this key area of responsibilitiesduring growth the odds are it will fail, or fall back to a smaller size.How to determine which areas are functioning and which needattention:Does your company:Have individual department forecasts and budget monthly?Have a one month, quarterly and annual cash flow projection?
Business Planning, Business CouchingHave a sales forecast based on solid information?Have formal monthly revenue of cash flow and budgets bydepartment?Have a formal employee review quarterly and annually?Are job descriptions published and communicated?Is there a formal documented training process for new andexisting employees?Does executive management or owners dedicate a minimum oftwo to four hours each week working and assessing the businessplan and the functioning of each department?Doe your company have a monthly report that in 5 minutes tellshow each area is performing compared to plan?Does your company utilize outside sources for key disciplines thatexecutive management lacks experience in? Examples are:
Business Planning, Business CouchingCPA, Attorney, business consultant, other same industryexecutives, marketing firms, members of associations.The greatest opportunity I have seen in working with hundreds ofsmall and medium size businesses is within the assessment andplanning areas. Few business owners pay attention to each of theabove areas. My suggestion for every client I have worked with ingrowing or fixing a business starts with spending 2-4 hours everyweek assessing the areas, and then taking action on improving. Ifyou want to be a growth company, you really do have to act likeone.Turnaround your business with a strategic business plan. Improve cash flowand revenue, cut business costs and ultimately increase revenue. Click here.
Business Planning, Business CouchingMike Bayes is President of My One Call LLC, a business development firm based inLafayette, Colorado.http://www.salesjumpstart.net303 543 3906Blog: http://www.myonecall.wordpress.comArticle Source:http://EzineArticles.com/?expert=Mike_P._Bayes