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Business planning for small business owners

 

“Failing to plan is planning to fail”, Benjamin Franklin

Some interesting facts about business planning and execution:
  • Businesses using plans are 12% more profitable
  • 86% of executive teams spend less than an hour a month discussing strategy
  • Of 26,000 start-up business failures, 67% had no written plan
  • More than 70% of companies with a strategic plan don’t execute it
  • Only 30% of Directors of 1,000 public companies say their company is achieving strategic success
  • Formal planning reduces risk
  • 80% of companies are dissatisfied with their planning and budgeting processes
  • Only 23% of companies use a formal strategic planning process to make important strategic decisions
  • 64% of leaders who use strategic planning processes say the planning leads to strategic decisions that allow the company to meet its goals and challenges
  • The top 10% of large companies surveyed experience real and material benefits from their planning processes – far beyond those of average companies. They’re enjoying improved control over costs, increased foresight, improved operational performance, increased transparency and insight into the business, a sense of shared purpose, and increased profit.

*stats originally reported by Mission Facilitators International

I work with business owners all the time who don’t have plan. If they do have a plan, they are usually not executing on it because they have not created actions steps and/or they are “too busy”. Yet research tells us that successful companies have and follow a plan.

I help business owners write simple plans they can execute! Because the planning is simple and action steps are included and scheduled in a calendar, execution rates increase dramatically and so does business success!

Today I want to share the business planning and execution process my clients find so beneficial. Enjoy!

Lead To Succeed: Being Effective – Plan, Calendar, Execute! from Venture Coaching on Vimeo.

Now it’s time to get to work on your plan and follow through! I would love to hear about your discoveries, so please comment on this post to share your experience.

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