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Archive - 2020

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1
Happy Holidays – And Some Useful Resources
2
How Much Time Do I Need To Prepare A Business Plan?
3
Action Planning
4
Driven From Goal To Strategy
5
From Desire To Success – Bridging The Gap

Happy Holidays – And Some Useful Resources

Whatever you celebrate, we at Teik Oh Dot Com send you season’s cheers, our best wishes, and happy holidays!

2020 has been one ##$$%% of a year, hasn’t it?

We hope you get to take some time off from working hard at the growth and success of your business, especially during these difficult times.

In the time and room during your holidays, take a deep breath!

As you relax and consider next year, you may want to scroll through some useful resources to use next year as you create Strategy, show Leadership, and Grow your business. Here are some free tools and resources you may find useful:

 

How Much Time Do I Need To Prepare A Business Plan?

My work is advising small businesses on growth strategies.

Most of these small businesses turn over several hundred thousand dollars to 4 or 5 million dollars in sales and employ anything from zero to 10 or 20 people.

They are not huge.

At this size, they don’t have a lot of spare capacity and they tell me that while they want to get organised, while they want to plan ahead and be clear about their business direction, while they understand how a business plan can clarify their daily confusion about what to do next, they are worried they don’t have the time and capacity to take on the task of business planning.

So the obvious question I’m asked is how much time do you need to prepare your own business plan?

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Action Planning

Planning in your business could be part of an ongoing planning cycle.

In a small business, many parts of this planning cycle overlap – just because your business is probably not as complex as large businesses.

However, in any planning cycle, eventually, the rubber has to hit the road and people have to do the detailed, tactical work to implement strategies and achieve audacious goals.

The way we translate big visions, ambitious goals and inspiring strategies to getting the work done is to cascade the plans into Action Plans.

What are Action Plans, and how do we create them?

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Driven From Goal To Strategy

When you are preparing your Business Plan, you should have articulated a clear and well-defined, measurable vision, and then sought to understand where you stand right now so that you can identify the gaps between where you are and where you want to go.

The process of business planning should take you from having a clear picture of what you want to achieve, through understanding your current capacity and capability to do this, and then finding strategies to actually achieve this.

That journey involves setting some clear goals and then setting strategies that align to reaching those goals.

How do you do this?

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From Desire To Success – Bridging The Gap

Business Planning is about setting out a pathway for your business to proceed, that will get you to the business of your dreams – the vision of your ideal business.

In order to do this effectively, the Business Planning process goes through a logical sequence to first define exactly what your desired ideal business is going to be like, then understanding where you stand in relation to his, thus revealing the gaps between where you are now and where you want to be, and then implementing strategies to bridge that gap.

It’s a logical process.

If you were going on a drive to visit your mum in the next town, you would do exactly the same thing.

You identify where your mum lives, how far it is, what time you want to get there and the time you need to be back, and how much fuel you need to get there and back. Then you check if your car will make the distance, how much time you have that day, and how much fuel you have. Finally, you make plans about when you should leave to get you there and back at the right time, and how much fuel you should buy.

In other articles, I have already written about the process to describe your vision of where you want your business to be, and how to quantify that vision so that it can be measurable.

I have also written about how you can get a clear understanding of where your business is, in relation to that ultimate vision.

The next question is how do you define those gaps and turn them into goals?

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