Entrepreneurs understand that they need a business plan to start up a new business. To raise capital from a bank or an investor, to clarify their initial direction in business a detailed business plan is essential.
Your business plan is more than just a start up document. It is the plan for the life of your business. A business plan should be an active part of your “living” document. It changes over time, needs constant review and renewal, and it sets out a clear roadmap for success. Your plan must be maintained and adjusted regularly, based on real-world experience.
Reactive versus Proactive
Small business owners can get lost in the endless number of things they need to do. If they do not reserve time for business planning, they may never escape the constant “fire-fighting,” spending all their time dealing with the urgent issues.
Having a clear plan is the difference between running your business proactively vs reactively. The better you understand and can communicate the overall direction of the business, the better you can communicate the next step in your business.
Knowing the next steps allows you to confidently delegate tasks to others on the team. Going from being reactive to proactive is essential to achieving your business plan.
A reactive state is continually dealing with the emergencies and the day-to-day operations. While it is important that these tasks are accomplished, the business owner needs to prioritize and delegate for accomplish everything that must get done.
The delegation of tasks opens up time for you to be the business owner.
Often, we hear the excuse that the workers cannot do the task as well as the owner can. This may be true. The best way to address this challenge is to share your business plan, hopes and dreams with your team. When your team can get excited about what you are trying to accomplish they will be able to engage more fully in the success of the business overall.
A wise business owner creates systems to direct success, s delegates tasks, allows the workers to make mistakes, guides them to improve the results, and helps them evolve into being a better worker that supports the long-term strategic goals of an organization.
Delegation is critical to creating the time needed for thinking, planning, and creating at a higher level.
Working with a Highly-Qualified Business Coach
Business owners are leaders. For some it is a new role that they have little training in. To be an effective leader requires strong communication skills, a clear focus, a desire to succeed, and an openness with the team they are leading.
Every leader has a leader. For many entrepreneurs that leader can show up in the form of a business coach, strategist, or consultant. Guidance from an expert, allows a business owner to see the business from an outsider’s professional viewpoint in a more neutral and objective way. A strong coach can also provide training to improve leadership skills of the business leader.
The real success of a business includes the quality of life of the business owner as well. A terrific business coach helps a business owner to find the balance between business interests and life interests. For example, a business owner can give him or herself permission to have a day off from running the business to have quality time with the family. This can be a regular day per week. The business owner lets go and allows the staff of the business be in charge.