All right, I hear you. “Duh, Susan! Of course that’s good advice!”

Well, as elementary as it may sound, in business it’s better than good advice -- it can be cost-saving advice! In fact, if you’re not heeding this simple "be prepared" message, you might be throwing away $1000s over a very short period of time!

Think I’m exaggerating? Think again.

Here are just a few examples:

1.Your secretary/receptionist is going on vacation. You call a temporary staffing agency to hire someone to come in for two weeks she will be basking in Bahamas. Do you outline specific assignments or tasks (in advance) so that person knows what to do when he/she arrives to work for you? Or do you take up YOUR valuable time to teach temp everything he/she needs to know “as you go”?

Cha-ching! That’s costly training time.

2.Same employee. Same Bahamas vacation. Do you let "real work" pile up until secretary returns and then overload her with deadlines so she ends up putting in overtime?

Cha-ching! Overtime wages are one and a half to two times greater than regular hours worked – and it puts a strain on employee, too, making her regret ever having taken vacation.

3.Do current employees know what’s expected of them during "down time" when business is a little slow? It’s one thing for employees to be bored with what they’re doing. It’s quite another thing for them to be bored because they’re doing nothing.

Cha-ching! That “downtime” is money out of your till.

4.Have you ever redone a task because it was done incorrectly first time?

Cha-ching! You’ve just doubled cost of doing it.

5.Have you ever taken or sent someone on an unplanned trip to supply store because you didn’t know you were running out of toner or copy paper? What about running out of postage in middle of a mailing that MUST go out today?

Quick. Name a product or service that you or your business will gain more satisfaction from while it’s being developed or produced than when it’s finished.

Your answer?

“My tax return?”…Wrong answer….“Chocolate chip cookies?”…You’re getting much closer….“I give up.”

Your strategic business plan….“I never would have said that.”

Well, don’t feel embarrassed. Most business owners and managers do not consider developing a Strategic Business Plan for their organization. In fact, less than 20% of all small businesses have any type of plan in place including operating plans, marketing plans, succession plans, etc.

They deny themselves such pleasure for a number of reasons: ·“It’s far too difficult to do.” ·It’s far too costly to do.” ·“I don’t have time.”

Imagine that you have hired a builder to construct your dream home. You have this rather vague picture of this house in your mind and you communicate this image to builder.

Now imagine that your builder plunges into construction of your home without any architectural plans. No drawings.

In a panic, you stop construction and ask builder why he isn’t using any plans or drawings?

He responds, “It’s far too difficult to do.” Or “It’s far too costly to have done”. Or “I don’t have time.”

It would be crazy to build a home without plans. How long would that “dream house” of your last if it was not built to any type of specifications? How long do you think your business will last without any direction or strategy?

Now back to my original question.