Below you'll find a list of all posts that have been categorized as “Business Planning”
After I had been operating my business for a few years, I found myself stuck in a rut. Although the business was growing, I was not achieving the results I wanted out of my business, and certainly hadn’t achieved the outcomes I had hoped for and aspired to when I first established the business. It was at this time I …
Walt Disney, Colonel Sanders and Reed Hastings are examples of wildly successful business owners who were either bankrupt or had very little when they launched their business. They had nothing to lose from taking a risk and persevering with their vision. Early in my career one of my colleagues often said to me “What’s the worst that can happen?” At …
n my role as Business Advisor, I meet with an average of 15 business owners a week, and of those 15, typically 3 are business owners I haven’t met previously. I am truly in my element in this environment. I thrive on meeting new people, learning about their business ideas, gaining insights into industry “quirks” and experiencing the motivation and …
You’ve come up with an exciting business idea, you’ve formed a relationship with a business partner. You’re looking forward to launching your business. Whilst all partners are on favourable terms, all is rosy, now is the time to set the rules of the game. A shareholders’ agreement is used to outline the business practices, matters to consider in the event …
I was asked recently for my thoughts on how to plan for unexpected events in business such as when key staff members resign, take annual leave or are injured and unable to work for an extended period of time. I share my thoughts here for consideration. A business can reduce its reliance on people by concentrating on defining the structure …
We live in a time when we are surrounded by numerous forms of technologies to make our lives easier. Technological advancement has impacted on how businesses function and owners are constantly faced with pressures to keep up to date with new technologies to streamline, automate, create a digital presence, and cut costs. Take, for example, the mobile phone. When I …
Regardless of what stage of business you are in, cash flow, or the lack thereof will impact on your ability to operate your business. In my experience, poor cashflow creates pressure and stress for a business owner. Their focus and time is drawn away from the core operations of their business as they worry how wages will be paid, suppliers …
Is your company planning to scale up? Are you prepared to tackle increased workload? Is the business ready to handle more demands from existing and new customers? There comes a point in time when most entrepreneurs choose to grow their business. Sometimes, it is because the business is not big or efficient enough to meet growing demands. Sometimes, it is …
One evening, I was watching my daughter feed the dog. I noticed she would spoon the biscuits one by one into the dog bowl. The process was painfully slow. But given it wasn’t hurting anything and she was entertained while I cooked dinner, I let her go on. Then it dawned on me how many of us continue with slow …
It’s funny how when I ask business owners where they are going on holiday, their response is so certain. Their vacation is all planned out, day by day. They have usually decided which sights and attractions they will visit; how many days they are staying in each location; even the time of their flights. You probably do the same when …
At the beginning of the year, our team sat down together to discuss our goals and plans for the next 12 months. This included systems and plans that we want to implement this year to improve efficiencies and consistencies in how we do things. One of the suggestions put forward by my team was to create a “Mel contingency plan.” …
