What's the plan, man?

With the excitement surrounding the start of the NFL playoffs, I'm reminded of the importance suitable preparation has when you desire success. To have a winning team, you have to have a solid game plan.

Granted, the most exciting players and coaches to watch are the ones that make it look as if they are "shooting from the hip". As spectators, we yearn for the audible at the line of scrimmage making the star quarterback look as though he was the only one on earth to notice the player mismatch on the outside, signal to his wide receiver to go deep, hit him on the post, and TOUCHDOWN!

The quarterback's a hero...his team has success...and we love him for it.

What we fail to remember, is that NFL teams and the quarterbacks we admire are habitual planners. After each game, win OR lose, they immediately start studying film and preparing for their next challenge. I don't want to ruin your playoff enjoyment but it's not magic we're watching, it's having a great game plan. And the teams that plan the best typically win the most.

When applying this analogy to business the results are the same. Great game plans give you the best chance for success. Do you spend enough time planning? Does your company have a great game plan? Do you have an audible in place?

For many business owners that I've worked with this is a hard concept for them to wrap their minds around. Sure, I get it. Brainstorming meetings and putting pen to paper don't generate revenue do they? Not immediately. But if you want to be able to call an "audible", or in the business world adapt to changing markets and/or conditions, you'd better know your game plan. And the most successful companies do. Large companies such as 3M, Best Buy and General Mills have entire divisions devoted to nothing but planning.

My point is that if you want to achieve goals for your business, you need to know exactly what those goals are and how you plan on attaining them. Many small companies are so overwhelmed with the immediate tasks at hand that they don't create time to come up with their plan. And owner operators are the worst violators. Again, I get it. You need to answer the phone. You need sales. You need revenue. You need a game plan.

Don't cut yourself or your staff short by not creating time to brainstorm, plan and re-evaluate the plans you are already executing. It helps you evaluate what's working, what's not working and where you could be generating more revenue or making cut backs. Even with shrinking or nonexistent budgets, I encourage you to step away from your desk, leave the office if need be, grab your brightest talent, clear your head and go game plan. After all, your team is counting on you for the answers. You'd better have a good idea of what they are.

So enjoy your favorite team in the coming weeks. But remember that every NFL team starts the season wanting to win the Super Bowl, and only the team that has the best game plan week in and week out actually wins the trophy.

Business is no different. Every company wants to be profitable. The companies that take the time to constantly plan week in and week out, are consistently successful. Create time to plan.

You deserve the touchdown. You deserve to win.

V+C=P... Oh Great, Another Acronym To Remember

Here's an article I wrote for MMHA (Minnesota Multi Housing Agency) and CAI (Community Associations Institute), two groups focussed on community living, townhomes/condos.

In our industry full of acronyms (MCIOA, CCAM, MMHA, CRM, CIC, HOA, CPA and too many more to mention), how is another one going to make your world a better place? Simple - this acronym is an equation and it works.

Recently, while in a MMHA Ambassador's meeting, we were brainstorming ways to help new vendor/service members get the most out of their membership. The beginning is, of course, to get involved. Getting involved builds relationships and paves the road to results. The most successful and profitable vendor/service members (and businesses in general) are the ones that have built relationships and are therefore trusted by the general members. The challenge is that building a relationship takes time and effort. These two things seem to be in short supply now that many of us are multi-tasking, dealing with reduced budgets and less support staff. However, the VCP concept that I learned from BNI (Business Network International) Founder and CEO, Dr. Ivan Misner in his CD "Networking Secrets" is that getting involved leads to the first stage in this equation's sequence:

VISIBILITY
By joining, participating and offering your talents to MMHA as a whole, you're able to work with your potential clients as a colleague. Whether you volunteer as an ambassador, MADACS committee member or CIC lunch and learn speaker, you will be working with general members. This allows you a chance to get to know them on a personal level. It also lets you reveal other talents a client will be looking for, such as your communication, organizational and out of paradigm thinking skills. Many companies spend thousands of dollars in advertising to convince prospective clients of the same thing. Once you have built trust as a colleague and are given the chance to show your professional skills, your visibility gives you the chance to gain:

CREDIBILITY
So, a general member has given your company the chance to bid, perform service or has even paid your final invoice. Great! You still have to build credibility. This part of the process usually takes the longest. Things like following up on loose ends of a project, addressing referrals from the client, and repeatedly demonstrating why you are the best choice in your specific profession will help build your credibility. Many companies drop the ball in this phase, focusing only on the short term. It's the long-term relationship building that leads to credibility, more referrals and:

PROFITABILITY
Receiving and giving referrals. True profitability is when the relationship has been built so strong, that both parties trust, respect and want to see each other succeed. Companies that see profits stay consistent year after year may have followed this method without even realizing it. One of the most important (and often overlooked) aspects is to ask for referrals. After you have built your credibility with a client or even another vendor/service member don't be afraid to ask them for other people you can start the equation with. One of the fastest ways to receive a referral is to pass referrals.

Visibility. Credibility. Profitability. The way to start making the equation work for you is by getting involved. MMHA is constantly looking for volunteers. Remember that networking is more about farming than it is about hunting.

V+C=P... Long term profitability!

Top Reasons Businesses Fail!

Owners of a new business have often staked their entire capital on a new venture and they stand to lose a lot more than if a big company fails in their new venture.

Familiarise yourself with the top 5 reasons why many new businesses fail and contact Acumen Business Solutions for assistance.

1. The owner/manager does not know how to run a business 

Most small businesses fail because the owner does not have the knowledge to run a business properly. It is advisable to contact Acumen Business Solutions for standardized business assisance before starting a new venture.

2. Finances are not in place

Many people start out in business without any idea of how much money is really required. If you do not know how to write a business plan contact Acumen Business Soluions to write your plan. In any new start-up cash flow is king and without proper funding even the best idea will fail.

3. The Owner gives up too quickly

Any new business will be lucky to break even in their first year. Many people new to business often assume that they are going to make a fortune within 12 months. In reality less than 80% of new start-ups make a profit in their first year. Acumen Business Solutions will create systems and milestones designed to maximize revenues and profits during the first year and beyond! 

4. Advertising

There is zero point in doing a single leaflet drop to all your potential customers. There is no point in doing a single advertisement in your local newspaper. Advertising is all about repetition. Many of your potential customers will not buy your products until they have seen your marketing material at least half a dozen times. Acumen Business Solutions will design a sound marketing plan to maximize reach!

5. Branding

Acumen Business Solutions will provide a plan to ensure every single piece of your company will scream out your brand including brochures, websites, delivery vans and the uniforms that you and your staff wear.