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Why is My Small Business Plan Not Working!

By on December 10, 2009 in Business Plan

Have you ever seen a bad business plan?

I asked a few bank managers and they agreed that they’d never seen a bad one.

But they did add that they’d seen many that did not work out in practice.

So this made me wonder why this would be the case.

How come people prepare a business plan and then have so much trouble in executing their plan?

Well the simple truth is that many of the plans were doomed to failure before they even began because the business owner did not understand the numbers behind the plan.

The plan was full of assumptions that were never verified properly and therefore may not have been correct even though they produced a favourable set of numbers and a great looking business plan.

  • So did you verify the numbers properly in your business plan?
  • What is your experience with achieving your business plan?
  • How have you overcome this problem in your business?

I’d love to hear your feedback on this.

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Video

Finding Your USP and Sticking To It!

By on November 12, 2009 in Marketing

One of the things I find frustrating as a small business owner is people who come and try to convince me to move away from my niche and enter the bigger markets in the hope of finding new customers and more volume.

This week I came across a Youtube video which shows a small business owner who has succeeded in remaining a niche player in his industry.

The video is full of practical tips on how to remain focused and win so I encourage you to watch it through to the end.

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I need a Business Turnaround

By on August 27, 2009 in Management

It had been another long week for Mike.

As he drove home that Friday night, he reflected on why his business had not performed as he had expected.

He remembered how exciting the idea was to have his own business.

He would be his own boss and have the freedom he’d always longed for.

Even if he made half the sales he thought were possible, he would be so far ahead financially; there hardly seemed any risk at all, and with all the profits he would make, he would be far better off financially

But things had not gone quite the way he’d thought they would. Every month there seemed to be more money going out than coming in.

It wasn’t just the wages bill, but also the fact that he had to buy stock to sell next month and pay rent and outgoings.

He dreaded each quarter when his accountant would tell him the amounts to pay his quarterly tax payments; and at the end of the day, even though he owned the business, he seemed to always be the last person to get paid.

Mike was in bad need of a turnaround. In fact he needed badly to do the 30 Day Business Turnaround.

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