The
new year provides small business owners the opportunity to improve on their
operations and change their fortunes. Here are ten plans of action every
entrepreneur must make for their businesses.
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1. Develop a Business Plan or Strategic
Plan
- You won't get where you're going unless you
know where you want to be and let your employees know as well.
2.
Constantly Promote Your Business - You can't execute
one marketing effort each year and expect your business to grow.
Plan marketing efforts quarterly or even monthly and plan time
for follow through and tracking of results.
3.
Create action plans for each person in your organization
- Make sure every employee knows how his or her job relates to
the company's overall vision, and that each has individual
objectives and goals with measurable standards and timetables.
4.
Survey Your Employees - Sometimes the biggest
employee dissatisfactions are the easiest things to fix. Know
what changes your employees would like to make in their work
lives and do your best to increase their quality of work life
(and usually their productivity as well).
5.
Survey your customers and suppliers - Maybe the way
you are doing business is costing you relationships with
suppliers and customers. Know what bugs them and make it easy to
do business with your company.
6.
Set up business performance measures and get only those key
indicator reports you need to run your business. -
Don't waste your time and staff time compiling reports you never
use. Know what you need to know to run a successful business,
study those reports every month, and use them to take action.
7.
Do a human resource compliance audit and stay out of legal
trouble.- Unless you have a fully staffed HR
department, you may not be aware of all of the compliance laws
regarding employees. Have an audit done by an outside
professional and prevent problems that could result in million
dollar lawsuits by unhappy ex-employees.
8.
Know your top 10 customers - what more can you do for
them, where can you find more just like them - List your top ten
customers by sales volume and let everyone in your organization
know who they are. Are they in a particular geographic region,
of a particular type - what is similar about them? Do everything
you can to build on those relationships.
9.
Get a coach or mentor, or join a business support group
- Build accountability into your own personal planning by asking
others to help you turn your dreams into reality. Enlist people
who you can trust to give you objective feedback and create
deadlines for your planned successes.
10. Make a list of
the year's accomplishments and celebrate your successes with
your employees - Don't forget to acknowledge and celebrate
each of your milestones. The best part of creating a plan is to
know when you've reach your goals, allowing some time to pause
and appreciate the accomplishment, and begin to create your next
set of goals.
About the Author:
Jan B. King is President
and CEO of The King Group, a business planning and strategic
people management consulting firm in El Segundo, California. See
her web site at http://www.janbking.com
for more details.
From the book: Business Plans to
Game Plans Author: Jan B. King-Publisher:. Silver Lake
Publishing Publication Date: May 2000 Page Count: 362 Retail
price: $29.95 ISBN: 1-563&3-701-5.
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