Business Planning Tip #2: After a challenging year, how could building a business plan hurt?
Business Planning Tip #2:
2009 has been the best year ever for many businesses in Fairfield County but for many more it has been a year of challenge, tight cash flow, declining sales, and uncertainty. Why are some businesses succeeding and some failing? As the Business Development Manager for Action Coach Business Coaching Team in Westport, I have the opportunity to explore the answer to that question. As I meet business owners who are being challenged, I often offer a complimentary coaching session which includes an analysis of their current business plan. To my surprise, I have found that most do not have a working business plan! Is this because they lack the skill set to build the plan or the unwillingness to change from year to year?
Recently I attended a seminar hosted by First County Bank that was entitled “Are You Ready For the Improving Economy’s New Opportunities? I am thinking that a more meaningful title would be “Are You Ready to Make a Change to Improve Your Business?” If so, start with a current evaluation of what is happening in your business and then put a WRITTEN plan in place for 2010. This plan should include a to do list to make changes to improve, including your behavior.
During the First County seminar, Ray Giallongo Jr, executive vice president of the business banking division, suggested that all attendees read the book “What Got You Here Won’t Get You There.” by Marshall Goldmith. It explores the 20 workplace habits that business owners need to break in order to be successful and lead their teams. A small step for business owners who aren’t ready to change their behavior and feel uncomfortable putting together a business “TO DO” plan for 2010, might start by creating a STOP list. Goldsmith suggests it may be easier to stop doing negative things then to learn new ones. One suggestion that came out of the seminar was a down economy is no time to play golf.
If you want to learn how to build a business plan in six hours, and are willing to change, then join the Action Coach Business Coaching Team at the Mill River Country Club in Stratford for our next Business Growth Seminar. It is on December 11th. It’s a little longer then a round of golf, but I promise this workshop will motivate you to make a change so you will be ready for the economy’s new opportunities, and believe me they are coming.
To register for the Growth Club workshop CLICK HERE. Mention you read about it on this blog and received $100 off the registration fee.
Or Contact ActionCOACH NOW at 203 210 7003
Written by Business Development Manager, Geri Sutton -pictured here with her husband Jim
If you are looking for business advisors in CT, why not give your business a Business Growth Analysis and gain invaluable insights into four major areas of your business?
Your answers will be used to qualify you for a FREE Business Diagnostic Meeting.
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