Are you comfortable in your business, or do you suffer from fear and uncertainty about where your business is heading and the progress you’re making towards its goals?
“I don’t do numbers!”
“What’s a P&L?”
“If I write it down, and don’t attain it, then I’ve failed.”
“I keep track of my expenses in my check register.”
Personally, I do numbers …. but, I have heard the above comments from an entrepreneur or business owner when discussing the current and/or future finances of their business. This “fear” of numbers can manifest itself in a few different ways.
THINK PLAN EXECUTE partners with entrepreneurs and small business owners to implement good management practices that shorten the path to the results they desire.
For an owner to move efficiently from “solo-preneur” to a “business” to a “company”, they need:
- CLARITY about reasonable and feasible short & long-term objectives
- STRUCTURE defining how to reach those objectives
- RESULTS – because without excellent execution against the objectives and plans, all you have is an idea
A number of years ago a new client responded to my question “can I see last year’s financials?” by handing me the check register for his business checking account. Ignoring some other issues (many?), this is indicative, to me, of a problem that many individuals have when they start their business – they don’t put processes in place to ensure that what needs to be done is a) being done, and b) being done in a standard and repeatable manner.
So when should you develop and implement processes for your business?
Those of you that know me, or have been following my Business Execution blog, know that I am a big proponent of planning – both strategic and tactical. So, how can I now be advising you to make your decisions quickly? Doesn’t that fly-in-the-face of taking the time to think things through and plan?
Let me explain why I don’t think that it does, and why I believe that the speed of your decision making can be an accelerant to the growth of your business. After all, I am as big a proponent of execution as I am of planning.