The Business Edge Blog

August 2, 2010

Planning a Vacation but not Planning Your Business?

Some of my clients have been getting ready for vacation.  It’s amazing the amount of planning they put into the details; flights, hotels, sites to see, packing just the right things.  Some spend a whole day planning for a week away, and some spend that much time planning for just a long weekend.  One of my clients is involve in planning a wedding.  Don’t get me started on how much time they are putting into planning that one day event!

Why is it OK to plan for a vacation, or a wedding, but when I ask people about the amount of time they spending planning in their business, business owners give me such a negative reaction or laugh and say they have “no time” to plan?

Why is planning such a bad word in business?  Why don’t business owners spend more time, or for some, any time planning to make a profit in their business?

Instead of sitting back and mapping out a plan of attack, many business owners just shoot from the hip when it comes to making decisions, always trying to stay one step ahead of the fires.

The #1 problem I see in small business is the lack of creating and executing a plan.  I’ll call it a Profit Plan.  It’s called a Budget or Forecast by some.

Let’s get back to vacation planning.  If you spend 1 day of planning for each week of vacation, what would happen if a business owner spent one day a week planning?  How many business owners do you know who spend less than a day all year planning their business, much less a day a week?

I help business owners spend their planning time effectively.  We meet for 1-2 hours a week and they work for another couple of hours each week on things in their business.  More often than not we are working on strategic instead of tactical things.

Do you know any sports coaches who would agree to go into a game without having adequate time to prepare a game plan as well as some back up plans for when things go wrong – because they always do? 

The moral of this story is, don’t let planning be a dirty word in your business.  There is nothing more important to your company’s survival than the creation and execution of a Profit Plan.

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