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Home Archive for category "Planning"

“Ideas are cheap. Ideas are easy. Ideas are common. Everybody has ideas. Ideas are highly, highly overvalued. Execution is all that matters.”

We were recently at a meeting where several of the people there started talking about a book they had read, “The 4 Disciplines of Execution” written by three top executives of the FranklinCovey Company . . . Chris McChesney, Jim Huling, and Sean Covey (son of Stephen Covey, who was a founder of the FranklinCovey

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Don’t produce a budget. Map out a Profit Plan. (Part Two)

We have been talking about an annual planning process.  It began two postings ago when we talked about laying out three to five strategic initiatives aimed at moving the company forward.  Then with our last posting, we began a 2-part discussion on what some call a “budget,” but what we prefer to call a “profit

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Don’t produce a budget.  Map out a Profit Plan. (Part 1)

The blog below is a repeat, as was the previous posting (October 17, 2018), and as will be the next posting (November 21, 2018).  Combined, the three postings offer a template for developing a 2019  Plan.  We are re-publishing these now because developing an Annual Plan is a critically important activity for any small business

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“The nicest thing about not planning is that failure always comes as a complete surprise and is not preceded by a period of worry and desperation.”

The blog below is a repeat.  It was first published a year ago, along with two companion pieces that will also be re-published in the two postings following this one.  Combined, the three postings offer a template for developing a 2019  Plan.  We are re-publishing these now because developing an Annual Plan is a critically

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“Success seems largely to be a matter of hanging on after the others let go.”

Let’s talk about Bill Gross, the serial entrepreneur.  As it turns out, there’s also Bill Gross the billionaire investor, but that’s not who we want to talk about.  We want to talk about the other guy.  The entrepreneur.  This Bill Gross has personally started over 100 companies, and more than 40 of those have either

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“It’s important to have a sound idea, but the really important thing is the implementation.”

Picture this.  You’re in a meeting to discuss a particular operating problem you need to solve.  The group discusses several possible solutions, and finally settles on the one that seems most likely to succeed.  Then the leader of the group says, “Good work gang!  I think we’re on the right track here,” and adjourns the

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Don’t produce a budget. Map out a Profit Plan. (Part II)

We have been talking about an annual planning process.  It began two postings ago when we talked about laying out three to five strategic initiatives aimed at moving the company forward.  Then with our last posting, we began a 2-part discussion on what some call a “budget,” but what we prefer to call a “profit

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Don’t produce a budget. Map out a Profit Plan. (Part 1)

In our last posting, we talked about building an annual plan around three to five strategic initiatives.  We also suggested that you open up your planning process to as many of your employees as possible . . . don’t restrict it to only you and your top managers.  Make your planning process as inclusive as

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“The nicest thing about not planning is that failure always comes as a complete surprise and is not preceded by a period of worry and desperation.”

About this time every year . . . somewhere around the beginning of the 4th quarter . . . is a good time to begin planning for next year.  Unfortunately, planning is not an activity that most small businesses engage in . . . at least, not in any meaningful way.  The owner may have

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Work on your business, not in it.

According to the IRS, there are 18.1 million businesses in this country, but only 100,000 that employ 100 or more people.  So of the 18.1 million businesses in this country, 18 million of them are small businesses.  In addition, more than a million businesses are started here each year, but 800,000 of them will be

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