What’s going to happen when you or your business partner becomes incapacitated or dies? It might not be as simple as buying out your former business partner’s widow.
Tag Archives | business plan
In a perfect world you wouldn’t start a job unless your customers paid the entire price up front. Unfortunately things don’t usually work that way. It’s not impossible to get such favourable terms, but this all depends on your bargaining power (eg. if there’s little or no competition and your product/service is in high demand). Most small businesses do not have that kind of power.
Your business creates an impression in the mind of your prospects and customers each and every day. You have ability to ensure that it is appropriate, consistent and positive. How well does your business create the impression with your prospects and customers that you want to portray?
There’s one significant difference between people who succeed in life and those who struggle; their ability to set goals and achieve them. To have what you want in life, you can’t just sit back and expect it to happen.
How many times have you heard that expression? I wondered where it came from so I “googled” the quote and found that it has been attributed to several prominent people.
I have written three business plans for my own businesses. Two were for existing businesses and one for a Start up business (BOOST Business Coaching).
Everyone in business knows that it is good advice to write a plan. Yet many of us don’t know where to start and quickly get too busy at the beginning of each new year to set aside the time to get anything useful committed to paper, let alone actually implemented.
Yes it’s that time again: the big BP is looming. True it was already looming last year and I had done one version and started a second.
Many business consultants, mentors or coaches seem to think that getting their clients a business plan is the best thing since sliced bread (assuming you agree that sliced bread is better than a fresh, crusty loaf or baguette which smells divine!).
Planning is crucial, even more so if you’re running your own business. Preparing a realistic, working business plan can be the difference between you getting your hands on the required capital needed for your start-up, or your business closing up shop a few months or years down the line. As Churchill alluded to, planning can spare you a lot of unnecessary worry and grief.
This is one of the core reasons why we gave up on business plan as a young business as planning is not a luxury you have when starting out – survival is your only focus.
Building a business is 20% science and 80% art, and yet all the business schools, the SBA, and the gurus that want to sell us Business Plan software tell us we should treat it like a controlled science experiment in a lab. Business doesn’t work that way.
Planning does not create success or even the best plan. It also doesn’t create action. Most planning just creates paper, spreadsheets, complexity, doubt, paralysis, and dream-dampening. There are two things that create a far better plan than planning itself.
Our Intention – New Zealand. When we started this business four years ago we decided we wanted it to grow up and make money while we’re gone. Today we leave for New Zealand for 3 1/2 weeks while others run the business. We’ll do things like that regularly going forward. We weren’t lucky, just intentional.
Success is often overshadowed by the path to get there. Many fear the journey because of the obstacles, when in fact, challenges are the cost of success and a cost we as entrepreneurs are willing to pay. As O. ROSS assists clients in their strategic actions, we compiled a list of about 20 threats we’ve witnessed this year. Here are 3 of the most common business threats to consider and a few thoughts on combating them.
Why your sales call can get off track, and how to get it on track from the start. I don’t suppose you’ve ever been on a sales call where you hit it off with your prospect, and then spend 50-minutes of an hour sales call just creating rapport have you? It happens all the time, in all industries and businesses.
Data protection has never been a more pressing issue than now. With many businesses collecting information in CRM databases, commercial and transactional databases, email addresses, etc, it’s important for business owners to understand their responsibilities towards data protection and security.
The first of Microsoft’s “12 Secrets of Microsoft Management” is possibly the worst management principle in history. It reveals an Industrial Age scarcity view of the world that none of us should emulate. Number one in Microsoft’s list of management secrets: