Business planning for small business owners
“Failing to plan is planning to fail”, Benjamin Franklin
- 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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