Business Plan Mistake #11 Failure To Communicate
I know when I started this series two weeks ago, I promised the Ten Mistakes Small Business Owners Make. But if you jumped to the original article, you know there are really 11 items on my list. This final element is probably the most crucial for your success.
Business Plan Mistake # 11 Failure to Communicate
While not directly a part of your document, poor communication can have a detrimental affect on your business. As you write your plan, involve anyone who could be affected by the plan.
Seek advice from people you respect. Talk to employees, family members, business partners, and advisors, such as your accountant and lawyer. Ask their opinions and communicate your goals. It is easier to steer a boat if everyone is rowing in the same direction.
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If you have enjoyed this series of posts on business planning and would like to explore the topic in more detail consider taking me up on one or two of the following FREE offers.
- Join me for a FREE overview of business planning on March 10 at 8:30 at the offices of Trustpointe – 6666 E. 75th Street, Suite 150, Indianapolis, IN 46250. In this lively ninety minute workshop, participants will learn the elements of a good business plan, as well as tips and strategies on how to get started, and make planning an integral part of your business operation. There is no fee to attend, but reservations are required.
- And as an added bonus when you register, you are enrolled in the free eCourse: How to Write a Business Plan in 10 Weeks
To take advantage of one or both of the FREE offers simply fill out the form below.
Everyone’s Predictions for 2010
Have you noticed everyone has a list of predictions for the year to come? It seems everyone is jumping into the conversation with titles like this:
- eMarketer Weighs in on 2010 Trends and compiles a 2010 Roundup of Predictions
- Chris Brogan looks notes that 2010 Will See Consolidations and Fold-ups
- Forrester predicts 2010: The Year Marketing Dies
- Read Write Web tell us about 10 Ways Social Media Will Change in 2010
- MediaPost says that 2010 Is the Year Social Media Gets Serious
- Scott Monty has his Social Media Predictions for 2010
- Forester Twitter gets serious or Twitter gets Bought
There are lots of similar views, with Twitter finally becoming profitable, and companies embracing social media as part of their overall strategy . But what do you think? What will the year ahead look like?
And, as a small business owner, which of these trends will be most relevant for you?
Episode # 11 My Secret to Real Weight Loss
I suppose you are surprised to see this topic in a small business blog. But there is a connection, I promise. You see the same strategy I used to lose weight this past year,will help small business owners grow sales next year.
There is no magic formula, but setting a goal, creating and sticking to a consistent action plan, measuring your progress will keep you on track in 2010!
Listen to Episode # 11 of More than a Few Words to discover my secret!
Start Planning with Analysis
Whenever I want to use my GPS or Google map to find a location, I have to figure our where I am first. The same is true in business, before you can develop a comprehensive marketing plan to take your business forward; you have to have a starting point.
When we work with clients to develop their marketing plan, we often use a two part assessment to help them evaluate where they are and where they want to be. This gives them a starting point for the general direction, and emphasis of their marketing plan.
Part One: Where are You?
- What do your clients think of you and why.
- Who are your most profitable clients?
- What are the purchase factors which motivate clients and drive their decision
- What are your barriers to selling?
- What are the characteristics of your typical client
- What are the characteristics of prospect who rarely become clients?
- What do your clients think about you?
Part Two: Where Do You Want to Be?
- Who is you ideal customer?
- What are their problems which you solve?
- What are the benefits of buying from your company?
- Define solutions to eliminate buying frustrations.
- Identify buying objections and define solutions to overcome them.
If you are ready to start working on your 2010 marketing plan download our free marketing assessment to frame your thinking!
Are You Ready to Write Your Annual Memo?
One of my favorite writers on the Havard Business Blog is Anthony TJan, who wrties a column entitled Upstarts and Titans. His thoughts, suggestions and ideas are often as relevant for the small business owner as they are for the CEO of a multinataional firm.
I thought that was especially true when I read his post entitled Every CEO Should Write an Annual Memo to the Board. He requires each of his clients to write a one page summary of the year that is closing, and plans for the year ahead. The document should include lessons learned, as well as plans and goals for the following year.
I love this idea. Each year I review my business plan, and rewrite large sections of the document to reflect changes in the business, but a one page summary focused on lessons learned is a different twist. I am going to give it a try, because I really believe without learning from mistakes, I will be doomed to repeat them.
So I am getting ready for 2010. Are you?
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BusinessMap Seminar: December 17 or January 21
Not All Customers Are Good Customers
I always enjoy reading Seth Godin’s blog. Sometimes funny, sometimes, serious, and frequently thought provoking. I recently re-read one of his posts entitled Be Careful Who You Work For . The post really hit home when he said:
How many job offers with good pay have you turned down in your lifetime? How many clients? Compare that to how many times you’ve been rejected. That’s totally out of whack. Great marketing involves having a great product, and not every job (or every client) is worth your time or attention or love.I wish I had read this post earlier this year. But maybe I wouldn’t have appreciated it till I went through this experience.
Last year, we started working with a new client, our single biggest at that time. While I was excited about the revenue, there was this nagging feeling; we were not a great fit. A feeling I initially ignored as I deposited the retainer check in the bank.
The problem: they wouldn’t listen to us. Everything we recommended, they changed and changed, and changed, till the end product did not even resemble something we thought was a good idea. They nagged, and bullied, and monopolized our time. When the phone rang, everyone in the building tensed, hoping it wasn’t them.
When I wasn’t worrying about “That Client” I was nursing the emotional health of my team. The whole process was exhausting, and three months into the relationship we parted ways.
And while I missed the retainer check, I, along with my entire team, began to have fun again. It took a few months to recover, but today, I can honestly say, we have great clients, every one of them is worth both our attention, and love.
We will grow, perhaps more slowly because we will be selective, but we will enjoy the growth!
What Dora Can Teach Businesspeople
Popular guest blog poster Josh Brammer of Spinweb has provided roundpeg with excellent insights into the world of Indiana business. Today, he gives us some business advice with the help of the young, adventurous, animated -cartoon character, Dora.
My almost-2-year-old bounces on the couch each morning as we turn on Dora The Explorer. Once the excitement turns to focused attention, Dora takes us on a daily adventure. I have a background in writing and video production, so I’ve often been interested in the dynamics that make children’s television so intriguing. What can I say, it makes watching any TV show into a bit of research.
A few years ago, I made the transition into the “Business-world”, so I keep an eye out of tips that can help bridge the world of business for the rest of us without a business degree. As I watch Dora, I find myself saying “Hey I should remember that at work today.”
To spare you the need to fire up the children’s television, here is a quick list of the things Dora has taught me about business:
- Make sure your team knows the destination. It’s hard to make fast-paced decisions in your business if you don’t know where you are going. Everyday, Dora and friends check the map to see where they will end up. The Map tells
them 1) where they are 2) where they are going. Everyone knows the destination, which leads to great problem solving along the way. - Work as a team. Everyone should know the plan. Teams don’t work when you aren’t on the same page. Dora always takes time to talk out any new problems, listens to new ideas, and make a new plan. Then the team gets to
work. - Enjoy detours. Detours will come up, but you can easily get back on track if you know your destination and work as a team. Shipments get lost. Distractions appear. Last minute meetings get called. Talking monkeys loose their boots.
But having a solid team that knows where they are going and can tackle new problems, really can take the stress out of surprises. - Be willing to help. Dora is a friendly little girl, so it’s not surprising that she makes new friends. But how about you? Are you just “cordial” to those you interact with or do you really take the time to get to know people? It only takes a
minute to talk to someone and look for ways to be helpful. While “Help Big Red Chicken” is not clearly marked on The Map, Dora makes it part of her daily agenda. Ten minutes of sincere help can go a long way. - Give encouragement often. Don’t fluff people up with fake encouragement if you don’t mean it; people see through that charade. Instead, learn to verbalize your praise and give it often. Adults may think about patting people on the back, but rarely open their mouths and say “Great Job!”
- Celebrate success. At the end of each episode, Dora and friends celebrate the day’s adventure by singing “We did it! We did it! We did it! Hooray! When’s the last time you heard that around much excitement around your office?Celebrating your successes as a team doesn’t mean you have to sing & dance, but it does mean you must stop, reflect on what went right, and cherish the moment. Too many adults “Keep Trucking” when they should really take a
few minutes to smile, share some encouragement, and enjoy the fact that hard work relaly does pay off.
Author: Josh Brammer A process thinker, Josh Brammer helps knowledge workers balance work and family life through workflow and habit management. Josh Brammer is VP of Operations at SpinWeb and believes: Character + useful technology – distractions = saving time without becoming a robot. In his spare time, Josh enjoys his family, good films, making outlines & creating more spare time. Josh shares a personality with Walt Disney & Ben Franklin (ENTP), which makes life much more interesting. If not behind a Mac, you’ll catch him reading or enjoying double espresso macchiatos. Contact Josh at josh@spinweb.net or 317-324-1100.
Roundpeg Redesign, Part 2: Finding a Framework
Written by Jay Mattingly
In Part 1 of our ongoing Roundpeg redesign series, we examined how we went about doing research to gain inspiration with our website redesign. The second step was to find a WordPress template which we felt we could use to improve the site dramatically. We only design in WordPress, and wanted the site to showcase some of the best of what we can do. While we often build templates from scratch, there are some great existing templates, which can be modified easily.
Modifying the template is easy, but finding several we liked, wasn’t I’ve probably looked at several hundred of templates to try to find the right one. In most cases, we would like some elements from the template, but were totally put off by something else. Then there were the conversations about how easy it would be to change a certain feature.
We went through tons of different sites and it took a while to find templates we liked, but in the end I felt like the effort we put into our search was rewarded with a couple really good “finalists”.
We’re getting to the point where the choices are getting narrowed down. I’m excited to see the mockups of our “finalists” because I think that will be the first moment when our vision will start to become a reality.
Here are some of the sites on which I found a ton of great themes:
We should have some mockups with the new templates for your consideration. Keep checking back with the blog for updates on our redesign!
Small Biz Strategies from the Tortoise!
When I was a kid, one of my least favorite stories was The Tortoise and the Hare! Why? Because the slow, unglamorous, boring tortoise won! Back then, and even today, I see myself as more of a Hare making quick decisions and moving in short sprints. However, I have come to understand, sometimes, you need the steady, predictable consistent approach of the Tortoise to be successful.
Creative and innovative small business owners and entrepreneurs are good at developing brilliant ideas, but often lose steam when it comes to working out the details.
Their brilliant ideas suffer when they fail to think through all the steps necessary to turn their ideas into reality.
The result… failure or mediocre performance, when there could have been extraordinary success.
Whether you are trying to launch a new product or company, or simply run a successful promotion or special event, a well thought out tactical plan gives you a great foundation! While the amount of detail required will vary, any tactical plan should include the following:
- Resources Required – What do you need purchase? And how much will it cost?
- Specific Roles – What specific activities must occur, and who will do them?
- Timeline – Working backward from the launch date, when do specific things have to happen in order to launch your idea on time?
- Measures for Success – When it is all done, how will you measure the success of the project?
If being a Tortoise and worrying about the details really doesn’t suit you, find someone else who can be your Tortoise. While they focus on the details of implementation, you can hop off to your next idea!
Smarter To-Do Lists
Josh Brammer, of Spinweb, has provided us with many useful insights on our guest blog over the past few weeks. Today Josh gives fantastic tips on making better to-do lists!
You have stuff to get done. Stuff that requires phone calls, emails, trips to the bank, the list goes on and on. So how do you organize your to-do list in a way that is helpful and easy to manage? Start make making smarter lists.
The major goal of a to-do list is to organize your actions in a way that is easy answer the question “What should I do next?” But often lists are nothing more than quick jotts on paper that donʼt really capture or explain the task in a way that is meaningful.
At SpinWeb, we often talk about to-do lists using this philosophy: Make the smart part of your brain tell the lazy part what to do. In a practical sense, this means taking extra time when creating your to-do list. Try these tips for smarter, easier to accomplish to-do lists:
Think Action. Have you ever seen a to-do list that looks like a list of random words? Instead of single word notes, take an extra moment to add a verb to all of your to-dos. Instead of “Jim”, write down “Compliment Jim on his excellent jazz hand technique.”
Think Downhilll. Itʼs not that you are lazy, but when you are overwhelmed by stuff to do itʼs helpful to have a clear next action available that doesnʼt require mental energy to plan or stress about. Phrase your to-do in a way that makes tasks easy to digest andthink “I can do that!”
- Good: Find cookie Recipe.
- Better: Find cookie recipe online at Kraftfoods.com.
Think Baby-steps. If you have a large task to accomplish, break it into smaller chunks. “Buy Paint for Living Room” may be a daunting task, but consider these smaller tasks:
- Take sofa fabric sample to paint store
- Select paint and buy paint sample
- Paint sample section of living room wall
- Fall in love with the paint color (or go back to the store and try again)
Think Team. Delegation is a difficult skill to learn, but often your tasks cannot be accomplished by yourself. When breaking down your tasks into smaller chunks, often youʼll find that you need to ask someone else for something small to keep the task in motion. Make sure to keep a reminder on your list, so that you can followup
Remember, the to-do list should make your life easier — so take the time to make a smarter list. Next time we will focus more on teamwork with 5 Tips for Better Delegating.
Author: Josh BrammerA process thinker, Josh Brammer helps knowledge workers balance work and family life through workflow and habit management. Josh Brammer is VP of Operations at SpinWeb and believes: Character + useful technology – distractions = saving time without becoming a robot.
In his spare time, Josh enjoys his family, good films, making outlines & creating more spare time. Josh shares a personality with Walt Disney & Ben Franklin (ENTP), which makes life much more interesting. If not behind a Mac, you’ll catch him reading or enjoying double espresso macchiatos. Contact Josh at josh@spinweb.net or 317-324-1100.
