Tag - business plan

Get FREE weekly ideas to grow your business

1
Why Most Small Businesses Fail Within 5 Years
2
Make Your Vision Real
3
New Year, New Business Plan
4
A Business Plan From A Few Simple Questions
5
Business Plans – Why and How

Why Most Small Businesses Fail Within 5 Years

Business Plans Help You Succeed

Through all my years in business advising small business owners, I constantly watch for trends and statistics affecting small businesses. One of the most consistent statistics I always see whenever I check for the latest trend is the statistics that 8 out of 10 startup small businesses fail within the first 5 years.

That’s such a consistent statistics through the years that there must be something behind it. Surely 80% of small business owners can’t possibly be poor business people?

Read More

Make Your Vision Real

If you have been following my articles, you will certainly have heard me talk about the value of business planning for your business.

Yet you may have been put off preparing your own business plan because you think it’s too hard. Perhaps you think you can’t spare the time, or you think you may have to hire a consultant?

Or is it because you can’t see how a dry document can be brought to life for you to implement it?

What if I told you how easy it is to write your business plan and the key to making it a live document? Read More

New Year, New Business Plan

Happy New Year!

It’s a great time of the year to have some quiet time, recharge your batteries, have a rest and get yourself ready to take off in the new year.

At the same time, this piece of quiet and peace is also a great time to make some New Year Resolutions about your business and make some plans – a great time to write your business [plan for the year ahead!

Read More

A Business Plan From A Few Simple Questions

Let’s start with the premise that you need a business plan (believe me you do!).

But who’s got time, right? If you’re a solopreneur you’re probably juggling your (so-called) worklife balance. If you have a team, how do you get everyone to take some time out to sit down together for a few days?

Unfortunately you do need a business plan. Not having one is like being the Captain on a jetliner with no flight plan. Sure you can take off and fly in a straight line, but where are you going? How fast should you fly, and does the amount of fuel you have allow that speed? Is there any weather ahead, and should you fly through it or above it? What happens if storms delay your progress, do you fly an alternative route or land somewhere else?

Your business plan needs to define the vision you are working towards, set the milestones or goals along the way, and work out how to get there with the resources you need. But it needn’t be complicated if you can’t set the time aside – it just needs a clear enough path. One that you can detail later when you have the time. Read More

Business Plans – Why and How

OK, you’ve heard me talk about business plans before.

And if you haven’t, what? You really need to check this out at https://teikoh.com/?s=business+plan

Well, this week I’m going to talk about what the business planning process involves, and how you have to include the “why” of your business, why does it exist?

You see, people forget that business plans are written to be read. Yes, that’s a revolutionary thought isn’t it?

People think that business plans are boring internal documents that you write so that you can follow them step by step to grow your business. No. That’s called a to-do checklist.

Business plans are written to be read – by you, by your team, by outside investors, by supporters, by people close to you. Yes, they form the basis of what you have to do in order to grow your business – but more than that, a business plan is a story of what you have to do in order to grow your business to become the business that you want. This takes much more than a list of things that are your goals and a list of actions to achieve those goals. This means that your business plan has to be a reminder, an inspiration, it must attract people, it must make them want to be part of your story as an investor, as a team member, as a customer, as a fan.

So, let’s take a look at the why and how of the business plan process.

Read More

Copyright © Teik Oh Dot Com. Developed by OTS Management Pty Ltd