Many business owners focus on the wrong parameneters to measure their success. This presentation helps buisness owners focus on what matters most to their success when building their business plan.
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Building Your Business Plan From The Right Perspective
1. Build Your Business Plan from the Right Perspective
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4. U.S. Small Business Administration Statistics on Business Failures Old: 50% of businesses fail in first year 95% of businesses fail in five years New: 33% of businesses fail in two years 52% of businesses fail in four years
5. If you were to “ G o o g l e ” the phrase, “Why businesses fail”, you would get…. Pages and pages of lists. The Top 10 Reasons, the Top 7 Reasons, the Top 25 Reasons, etc. Lists full of cash flow problems, people problems, operations problems, debt problems, etc. But…..They’re really all just Symptoms of the problems
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7. “ Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” Jack Welch - General Electric CEO for 20 years & business leader.
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13. Most Business Owners lack Business Planning How Do You Start on a Business Plan? Company Mission – Traditional Orientation “ Be the Best Supplier of Wingnuts to the Auto Industry” “ Be the Highest Quality Manufacturer of Aviation Components in the World” “ Be the First Choice for Tools in the Plant Maintenance Industry”
14. Most Business Owners lack Business Planning How Do You Start on a Business Plan? Company Mission – Traditional Orientation Nature of Business Company Mission Strategy for Winning Company Objectives Financial Objectives
15. Most Business Owners lack Business Planning How Do You Start on a Business Plan? Company Mission – Traditional Orientation Nature of Business Company Mission Strategy for Winning Company Objectives Financial Objectives What’s in it for the Owner?
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17. Most Business Owners lack Business Planning How Do You Start on a Business Plan? Financial Objectives – Numbers Orientation “ Reach $2 million in Sales by 2010” “ Achieve an After Tax Profitability of 5.0% by 2011” “ Eliminate all Debt by 2012”
18. Most Business Owners lack Business Planning How Do You Start on a Business Plan? Financial Objectives - Numbers Orientation Nature of Business Financial Objectives Company Objectives Strategy for Winning Company Mission
19. Most Business Owners lack Business Planning How Do You Start on a Business Plan? Financial Objectives - Numbers Orientation Nature of Business Financial Objectives Company Objectives Strategy for Winning Company Mission Where’d You Get the Numbers?
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21. Most Business Owners lack Business Planning How Do You Start on a Business Plan? Owner’s Life Objectives - Owner Orientation “ Take out $80,000 per year from the Business” “ Sell the Business for $2 million and retire in 2020” “ Retire at 55 with $700,000”
22. Most Business Owners lack Business Planning How Do You Start on a Business Plan? Owner’s Life Objectives – Owner Orientation Nature of Business Financial Objectives Company Objectives Strategy for Winning Owner’s Personal & Financial Objectives
23. Most Business Owners lack Business Planning How Do You Start on a Business Plan? Owner’s Life Objectives – Owner Orientation Nature of Business Financial Objectives Company Objectives Strategy for Winning Owner’s Personal & Financial Objectives Owner Runs His/Her Business!
24. “ When you set goals , something inside of you starts saying, "Let's go, let's go," and ceilings start to move up.” Zig Ziglar - Motivational speaker and best selling self- improvement author