Plan or be Damned

Planning is essential for small businesses that want to succeed. So, what is planning? And why should we plan? We say to ourselves that it is too hard or that it takes too much time without realizing that we do it all the time. Let me give you some examples.

Imagine that it is your turn to host the Christmas dinner and ten of your closest family members are coming.  The first thing you do is to decide on the menu; then you buy the food and on the day you determine when you are going to cook each item. It all goes well. Why? You planned.

Here is another example. You just got a call for an interview. You start your preparation by researching the company; you then prepare some possible questions and answers; you decide what to wear and leave your home to arrive at the interview at least 30 minutes before it begins. It all goes well and guess what you get the job. Why?  Once again, you planned.

Now I have one last reference to planning, your wedding day.  Everyone plans for this event even if you are eloping.  As the examples illustrate, planning is something we do and our experiences show that it does improve our chances of success.

Budgeting embodies this planning process, and it is an essential tool that you cannot do without when tracking your progress.

So, how do you know whether your business is making enough money? When was the last time, you sat down and visualized how much revenue you wanted to make or how much money you would be spending and on what? When do you consider ways to reduce costs or boost revenues? Before you run into problems or when they happen?

 Planning is essential to our ongoing survival especially for small businesses.

So, if you need some coaching, feel free to take our online program or individual course. The details of which can be found at https://learningmovesmountains.com/small-business-financial-management-program/.