Thursday, April 30, 2009

Where is the Common Sense?

Chicken little is having a hey day today! Between the economy, the auto industry, the mortgage crisis and swine flu the sky is definitely falling! Of course being the eternal optimist I have one big question; what the heck happened to common sense in the world today?
Let's examine a couple of these things:
  • The economic crisis, no question it is here and upon us, the interesting thing is a little common sense could have avoided it. Where was the regulation of all the financial instruments that created the problem in the first place, Congress and both parties are quick to lay the blame but if one of the purposes of government is to act for the greater good of it's citizens then why wasn't good old common sense used in the regulatory environment, most of these designed financial instruments were designed out of greed and to take advantage of the system, a little common sense by someone might have brought out that realization.
  • Here's my favorite one, swine flu! I saw yesterday that Ft. Worth was closing all it's schools for almost two weeks because of it and of course it's all over the media that we have a pandemic. I'm not quite sure what a pandemic is but right now this flu has accounted of about 160 deaths, each year the flu kills over 36,000 people in the U. S. alone, so does that mean we have an ongoing pandemic? Again a little common sense would tell me that if you take the normal precautions against getting sick you are probably going to be OK and even if you get the flu almost all of the cases have been mild here in the U.S. So like usual in the year of no common sense we overreact and forget about using some!
It would seem to me that what this country really needs to get moving again is simply some common sense, if it doesn't look right it probably isn't, if it doesn't feel right, it probably isn't. And as far as the U.S. media and news goes they are the biggest culprit, because they like creating a frenzy and hysteria and so they report (sometimes skewed) on all of these issues and they get their so-called experts talking about the sky falling and next thing you know Chicken Little is all up in arms! Maybe we should just figure how to unplug them all for a month and get some peace and quiet! Now that's some good old common sense!

Wednesday, April 8, 2009

Ultimate Breakthrough Planning is a Finalist for Best New Business Book!

I just found out that my book, Ultimate Breakthrough Planning: The Business Funnel Approach is a finalist for best new business book by the Midwest Book Awards, click here to see more. This is a testament to all the work put in by my publisher Scarletta Press and to those that have reviewed the book and given it great reviews! Although is wasn't intentional the book is incredibly timely in that it really gives business owners a blueprint to help them get focus in their businesses. In today's economy that is essential and having a business plan that you will actually use every single day is clearly a way to get through this recession not only surviving but thriving.
I read an interesting article last night that some of the greatest companies have been started during a recession, Microsoft, HP and others came out of set backs and then looking at things differently and creating a business through an opportunity that came about because of the recession. Ultimate Breakthrough Planning takes you through a process to identify where those opportunities might lie in your business and then helps you create a game plan that can capitalize on them. This book can help any business whether it's a new business or one that has been around for awhile. I am thrilled that the book is being so well received but I'm most proud of the fact that I can help businesses find success in these difficult times!

Thursday, April 2, 2009

The Fallacy of Business Planning

I recently read an article in the Minneapolis Star Tribune business section that talked about how with unemployment up more and more people are looking into starting their own businesses and certainly during most recessions you see a spike in business startups. The article was stressing the importance of having a business plan and was going through the various steps of creating a traditional business plan and how important it was to have this document that painted a picture of your business so you would have something to use in working with you banker or investor. The article also went on to talk about the process of creating a plan and using the same basic format that has been used for years and years how this plan would really help you get your business off the ground. Herein lies the problem with this whole approach, the last numbers I saw said that almost 90% of all business startups never make it more than two years, with that being the case why in the world would we continue to stress the importance of this business plan format when it obviously doesn't work? I have worked with countless businesses that create very well thought out business plans that go into a lot of detail about what the business will look like however in those plans I have never seen a section on how we are going to execute the plan. The fallacy of business planning is that if you don't have one you won't succeed where the reality is that the format that we have been using for years does nothing but create a static document that gets stuck in a binder or file folder and is never used to help grow the business.
What I suggest and work with my clients on is to create a business plan that is all about execution, it gets the business owner clearly focused on the actions they need to do to make that business successful and keeps them on track by measuring those actions using key milestones. This business planning approach gives the business owner a much greater chance of success by keeping them clearly focused on strategies and priorities that will grow their business. I call the approach the Business Planning Funnel , this planning process takes the business owner through a specific progression on the priorities, strategies, tactics, and tasks and timelines that will allow them to create a true business action plan. With this plan and a good set of financials I would give them a much greater chance of success then the traditional business planning model will ever give them, and I'm guessing that their bankers and investors would also be very interested is seeing the how rather than the what of the business!