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Category - Business Planning

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1
How Organisation Charts Predict Your Business’ Future
2
Why Business Planning Will Change Your Life!
3
The 4 Stages of a Growth-Minded Small Business
4
6 Key Must-Haves In Your Business
5
What You Might Not Know About Business Plans

How Organisation Charts Predict Your Business’ Future

Wouldn’t it be nice to start your business and know exactly where you are going to be in 2, 5, or even 10 years’ time?

Well, obviously if you are starting up a business, you will have read my articles on what you need to look out for – including the need to prepare your business plan, which is a way of mapping out your future. You may even have completed my online training on How To Start Your Business. Your vision-definition especially will be part of the planning process, and it envisions for you what your business should look like if you succeed in following your strategies.

“But”, you say, “Even my vision is what I hope my business would be like, I wish I could see what it will be like.”

Well, full disclosure, I do not have a crystal ball, but I do have a method where you can “see” with some clarity, what your business will look like, and it’s not about envisioning anything, it’s about creating your business structure now, in mind for the future.

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Why Business Planning Will Change Your Life!

If you are a small business owner, I can guess how you spend your days.

They will be spent in your business. You start the day with goals and priorities, perhaps having organised yourself the night before. During the day, you work on the “daily” things first, like mail and enquiries, then you set out on one of your priorities or a project to improve your business.

But at some time during the day, you look up and realise that somewhere you have got off track. Perhaps someone on your staff asked you for help in doing something, or you saw an email that introduced a great idea to start in your business so you went down that rabbit hole. Or maybe you were even caught in one of your tasks that seemed to go on and on! By the end of the day, you end it like you’ve ended the majority of your days – tired, realising you’ve worked hard again, but really, no closer to achieving your goals.

How do you break this cycle? How do you change your life so that you work gradually and assuredly down a path that will get you to your ultimate goal?

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The 4 Stages of a Growth-Minded Small Business

Here at Teik Oh Dot Com, I aim to be a one-stop-shop for growth-minded small business owners, where they can go to get inspiring and practical ideas to improve their business and become successful.

While I offer different tools and give advice for small business owners at different levels of development, I thought it might be useful to describe the way a small business can develop, and what their owners need to think about at each stage.

Knowing which level of development you are in is important because you can then focus on the different aspects of your business that need special attention at each different stage. A growing small business will usually go through 4 stages of development.

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6 Key Must-Haves In Your Business

When you are starting a business, or even as you grow it from the start and enter into a steady period of consolidation and wish to review your performance, it is useful to take a step back from the nuts and bolts of starting or running your business and consider what makes up a business.

Sure, you must have (hopefully) a great product or service and you must have customers.

But what makes up a successful business? What are the key ingredients you must have?

I created Teik Oh Dot Com in order to help small business owners implement these key ingredients that together make up a successful business, to be the small business owner’s one place to go to in order to find the practical processes to improve their business and become successful. You can subscribe to get these free tools and resources delivered directly to you by clicking on this link and signing up.

Importantly, I believe that when you start your business, you need to focus on six key must-haves in your business to set you up for success.

So let’s dive into the 6 key must-haves in your business.

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What You Might Not Know About Business Plans

If you are a small business owner looking for a reliable, structured way to grow your business your way, then you probably already know that a business plan can integrate all of your ideas about how to grow your business. You will probably have read and watched my blog post talking about how 80% of small businesses fail within the first 5 years, and of those that survive, the majority describe themselves as “struggling” rather than “successful”.

But here’s what you might not know – even if you are lucky enough to be running your small business without feeling the frustration of putting in all the hard work every day but feeling like you’re not getting anywhere fast, having your own comprehensive and actionable business plan will let you define exactly where you want to get to, help you get organised by setting long, medium and short-term goals, set you up with a clear strategic direction and effective strategies to implement to get you there, and allow you to write detailed step-by-step Action Plans that you can implement on a day-to-day basis to keep you on track toward your ultimate goal.

However, even though the need to write a business plan is a no-brainer, the actual process of how to write an effective and actionable business plan is anything but! Read More

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