Fail to Plan....or Plan to Fail? By Gary Durkin © Copyright 2003 - All Rights Reserved*************************************
Running a business, whether it be an offline multi-billion dollar company or an online part time home business, they share many similar traits.
One of
biggest obstacles I have endeavoured to translate to many, many small business / home business people, is a very simple phrase......' Treat It Like a REAL business, Because It IS a REAL Business'.
The fundemental reasoning behind so many failures in small business, is
clear lack of willingness to act like a real business. Many people may ' have a go ', they could ' give it a try ', or ' let's see what happens ' - all with the.. ' what have I got to lose? ' attitude. THAT, my friends, is one of
biggest secrets to FAILURE.
OK - s let's assume that your small business / home business / BizOp etc., is NOT you main source of income. It is NOT responsible for putting food in you family's stomachs, it is NOT what keeps a roof over your head..... it is NOT
sole form of income that you, your family and your Bank Manager rely upon.
So look at it like this. If it WAS, would you put as much effort into it as you do now? I can pretty much guarantee that your efforts would be substantially more, because everything relies on
success of your business, via-a-vis
money your business generates.
Well, now we have ascertained that you should be running it like a real business.......Are you?
> Do you have a business plan?
> Do you know each step that your business will take over
next week, month, year, three years....?
> Have you prepared your agenda for acquiring new customers, products, joint venture partners?
> Do you have a time-table of events?
> How often do you research, analyse, read-up and check out your competitors?
> When was
last time you contacted your client base?
> Do you offer them special offers, free resources and reports? What about surverying them and asking for their opinions?
> How often do you do all this?
> Does your business have a 'company objective'?
> Has your 'company' it's own 'customer mission statement'?
> Have you set yourself / your business targets....use my S.M.A.R.T. Principle...... .......targets which must be
= Specific.............. each item / area of business must be targeted spcifically.
= Measurable........ be able to measure your targets, how much, how often etc.
= Achievable........don't think that you can sell 2 million units if your competitors only sell 50 units.
= Realisitc.............. behonest with yourself. Can it be done?
= Time-bound.......give limitations and deadlines to whatever you are planning. Open-ended is no good.