Studies show that 60-70% of small business owners do not have a clear, written business plan detailing what they intend to accomplish over the next 1 – 5 years. Furthermore, these same studies indicate that those who DO have such a plan typically earn more than twice that of those who do not. The difference is made by working with an experienced business coach who uses and accountability model of consulting for business planning.
To be clear, we’re not talking about a ten-page document (as might be required to secure major funding for a new venture). We’re talking about a clear, concise and compelling explanation of what they intend to accomplish and how they intend to make that happen.
Most small business owners can quickly come up with 5 to 10 things that they know will improve their business in the long term. However, very few of them can honestly say that they’ve spent more than a couple hours on these strategies over the past two weeks. At least in part, because there is no effective business plan in place that describes clearly who will take what action…and by when.
If you wait until you can’t keep up, to hire more staff…it’s too late. And if you wait until you’re losing money to reduce costs…that’s even worse.
Momentum Business Results ensures that our clients understand the need to: