Running a successful business requires incredible amounts of effort, ingenuity, and capital. And when it comes to planning for the business’ future—both with and without the owner—many business owners ask, “What will this cost me?” Let’s look at the difference between the price of planning, and the costs of shooting from the hip.
It’s not uncommon to hear the phrase “Don’t take it personally” in terms of business decisions. But when you own a business, it’s difficult—if not impossible—to not take business decisions personally. After all, it’s likely that you, your family, and others you care about rely on your business to maintain or their lifestyles or their […]
The strongest businesses often have written plans for how to address unexpected events and mitigate risk, known as business continuity instructions. Their owners ask questions like, “What happens if a co-owner or I die?” “How do we protect key employees from competitors?” and “How do we address interruptions in our supply chain?” Here are three […]
A longstanding credo for successful business planning is to make specific goals. However, there is such a thing as being overly specific in your goals to the detriment of other things that matter to you. Let’s look at how adding fuzziness to specific goals can make your business planning strategies more fulfilling.
Running a successful business is complex per se. Adding the element of “family” to a business often creates more complexities, especially as the business grows. Lifelong family bonds and expectations can run headlong into business realities and needs. Today, we’ll share some ideas about how to keep the family business running and the business family […]
Success is rarely linear. As a business owner, it’s important to both acknowledge that fact and create plans that can provide short-term results while having long-term impacts. Today, we’ll show you four areas in which strong planning and realistic goals can position you to achieve more success in the coming year.
As the year winds down, it’s important for business owners to raise their awareness of last year’s performance. Knowing what you did well, along with where you struggled, is crucial to planning for future success. Today, we’ll show you three categories that you can review—strategic performance, tactical performance, and financial performance—and some questions you may […]