The BIG Plan

The magic of the business plan is not the “plan” itself, but the process that the business goes through in putting it together, and then using it as a living document to guide and direct the business. Here are 5 Steps necessary to begin the Planning Process:

1. Know where your business is going. Do you have a vision of what you want your business to look like in 5 years? 10 years? It’s impossible to put together a realistic plan if you don’t have a destination in mind.

2. Break the plan down into realistic chunks. Rather than just do an annual plan, break it down into Quarterly Plans so that you can focus on short-term accomplishments while working towards long-range goals.

3. Assign tasks to team members. Do not think you can do everything yourself. Make sure you get your team involved in fulfilling the plan.

4. Dedicate a block of time to do the plan. Once a quarter spend an entire day away from your business putting the plan together. This will get you away from all of your day-to-day distractions and help you focus on completing the plan.

5. Have a Business Coach assist you. Having an outsider’s perspective to give you ideas and guidance keeps you from developing unrealistic expectations, and going down a direction that doesn’t make sense for you and your business.

Having a solid and realistic business plan can help you overcome the pitfalls that every business owner will encounter. Start today, and make your future happen.

Business Owners 10 great questions to ask yourself

1. Customer base
Ask yourself: If I just bought this company, how would I sell more/expand what I sell to this customer base?

2. Cash
Ask yourself: If I could invest this cash in any one part of this business/niche/product line for the biggest cumulative return/profit over the next 5 years, where would I invest it all?

3. Market Leadership
Ask yourself: To remain the market leader for the next 25 years, where should I invest my time and company's resources right now?

4. Reputation
Ask yourself: What can I do to double the strength of our current reputation, within the next 6 months?

5. Momentum
Ask yourself: What's working well right now and how can I keep it working well?

6. Key Staff
Ask yourself: Who are the 5 key people in my organization and what game/plan can I create with them so they'll stick around for a long time?

7. Systems
Ask yourself: What systems work so well that we take them for granted? How could we improve them?

8. Responsiveness
Ask yourself: How quickly and completely do we respond to changes in our customers, market, technology, staff needs or economic conditions?

9. Intellectual Property
Ask yourself: What do we have, IP-wise, that just isn't being as leveraged as it could be?

10. The X Factor
Ask yourself: What do we have that's very, very special and that we could really maximize, just for the pleasure of it?

Wake up to these essential networking tips

R esearch
Visit as many groups as possible that spark your interest. Notice the tone and attitude of the group. Do the people sound supportive of one another? Does the leadership appear competent? Many groups will allow you to visit two times before joining.
I ntention
Ask yourself what your goals are in participating in networking meetings so that you will pick groups that will help you get what you are looking for. It's important to be clear about you want to achieve from networking, if you don't how will your contacts know when they come across an opportunity for you?
S trategy
Have a plan on how you will achieve your goals or intentions for networking. Are you there to buy and\or sell? Will you make special offers to the members or their referrals? Plan regular face to face meetings for the newest or most active and regular phone calls and regular emails to your more established contacts.
E levator Pitch
Networking opportunities are everywhere. You have 2 minutes to state what you do plus your three 'good ats' ….be ready to say what you are looking for if that's appropriate. Trust your instincts.
S tand out
Be memorable.. Have a powerful pitch, be decisive and confident about what you do. Develop a powerful unique selling point (USP) that is quick and easy to communicate. Don’t forget, you want to be remembered when you are not at the meeting too..
H elp Others
This is a really powerful networking tool. By helping others you will help yourself. Members will respect and remember you if you can provide help to them. This can be through leads, referrals or simply offering your advice or services without charge.
I nvolvement
100% participation.. Give 100% and you will get 100%. By being involved in the running of the group you will raise your profile, it will improve your status amongst your peers and ensure members and guests remember you for longer. Volunteer to take supporting roles within the group.
N ext Step
After the meeting remember to take the next step and follow up on the leads and referrals you gather. Unless you have an elephantine memory keep records of your contacts and their business. A great tip is to make a few key notes on the back of their business card. Follow through quickly and efficiently on referrals you are given. When people give you referrals, your actions are a reflection on them. Respect and honour that and your referrals will grow.
E njoy yourself

Business is often a serious and stressful affair and this can get in the way of who we really are and what we really want to achieve. Getting together with likeminded people for a common purpose can be fun and enjoyable. Simply following the RISE & SHINE rules will take away the stress and worry of networking and enable you to have fun and enjoy yourself

Keeping the Cash Flowing in a Down Economy

Keeping the Cash Flowing in a Down Economy

1. Get your mind focused on what you can control, and the opportunities that exist. Look for positive influences and people who take this climate as a welcome challenge.

2. Trim the fat. It’s easy for expenses to creep in over time; now is the time to examine each one. Re-negotiate payment terms if possible. Each employee must make a tangible contribution to profit, with numbers you can measure.

3. Stay liquid. If you know your business will cyclically have a negative cash flow, line up financing now - before you need it.

4. Your current clients are worth pure gold. Go the extra mile to retain them.

5. Go where the recession is not. Many industries do just fine in a recession, and the folks who are employed there make good target clients