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.
If you enjoyed this post, you can sign up for my FREE Lead to Succeed Email Course (click here) and these posts will come straight to your inbox. Just click on the banner to the left, sign up and stay connected!