Business Planning | Teik Oh

Small Business in COVID-19: How To Get Your Planning Done During COVID-19

Jun 23 2020

Let me start by saying that all small businesses must prepare business plans every year.

A business that does not plan surely plans to fail – the statistics spell it out.

A business plan gives every business a clear direction that can be used as a measure to make major decisions. A business plan establishes a series of goals – from short-term to long-term – that build on each other toward building the business you want to end up proud of owning.

A business plan removes everyday stress of not knowing what’s the right thing to do next and creates a series of action plans that prioritise what you have to do.

Running a business without a business plan is like going out for a drive without knowing where you are going. Depending on the circumstances it might be enjoyable just to get out for some fresh air, but ultimately pointless.

If you don’t want to run a pointless business, you need a plan.

However, here we are in June, the traditional time to write next year’s plan, and the COVID-19 situation is creating issues for planners.

How do you get your planning done in the middle of this?

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How A Business Plan Helped These Businesses

Jun 16 2020

I was putting together the final touches on my revamped and upgraded online program called Your One Day Business Plan when I was reminded how many small businesses the program has helped already.

You see, I use some members of my course to trial the changes and see if the developments have improved the product.

One of them said that he was using it to write his annual business plans “because it’s as fresh as ever.” That got me thinking about small business owners who have used the program so I contacted a few to see how writing a business plan has helped them.

They were so clear that a business plan really helped them to grow their businesses that I thought I would share three stories with you.

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The Practice of Planning – Make It A Habit!

Jun 09 2020

Let’s kick COVID-19 out of the park!

Yeah, I feel that way and you probably do too, by now.

It’s time to kick out that fear in your mind and look ahead in our businesses, start to follow again the dream in your heart!

It’s time to remind ourselves of the Six Business Success Factors: The Act of Leadership, The Practice of Planning, The Logic of Marketing, The Pursuit of Customer Fulfilment, The Attainment of Operational Efficiency, and the Mastery of Finance. These are the basic factors you need to rebuild and develop to once more, grow your business.

Now is the time to do it!

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Small Business in COVID-19: Annual Business Planning

Jun 02 2020

Here we are in June and COVID-19 is still with us in some form or other.

For many small businesses, we are still in or starting recovery mode. To use the war analogy, the wounds are still sore and we are wary.

As I engage with Teik Oh Dot Com’s members who are using our online products, a large proportion are still working from home, or have rostered their team into the office to keep numbers down. Things are still quiet and it is clear that “normality” is a long way away.

This sense of being quiet and watching to see what will happen can lead to a dead-end though!

Now, more than ever, it’s true that “if you do nothing, a very strange thing happens – nothing!”

So, despite business being quiet, despite our fears and worries making us psychologically frozen, despite not knowing what’s around the corner, we still need to plan ahead.

Here’s what you need to do.

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Risk Management Planning for the Coronavirus

Mar 17 2020

I know that I have only just published my usual weekly blog post, but as one of my clients said to me, “we live in interesting times.”

I wanted to quickly put out there what a small business can do in relation to risk management planning the effect of the coronavirus pandemic on their businesses.

But first, let’s get things into perspective.

Do not panic. Do not spread rumours and myths. Do not subscribe to the mob mentality that is now on display in supermarkets across the country. Get your information from trusted medical sources including government health departments and information sites.

However, in these “interesting times” it is prudent to be over-cautious in preparing for how the coronavirus can affect your business, so let’s get into what risk management planning you should be doing.

Let me give you a “checklist” of risk-mitigation procedures and strategies to implement in your small business – no need to give me your email, no need to download – here it is.

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Increase your sales through a highly focused marketing plan!

SMART Marketing: In this book, the owners of a small business are led through the SMART Marketing 7 Step Process to produce a marketing plan targeted at their most desirable customers. Any business can use these principles and in 4 to 6 weeks implement a plan to get them through the door! Find out how...

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Category - Business Planning

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Small Business in COVID-19: How To Get Your Planning Done During COVID-19

How A Business Plan Helped These Businesses

The Practice of Planning – Make It A Habit!

Small Business in COVID-19: Annual Business Planning

Risk Management Planning for the Coronavirus