Leadership and Learning
In 1954, Ray Kroc had a dream of a fast food restaurant
business. Years later, when asked about the secret to
McDonald”s success, Mr. Kroc’s simple answer was,
“Make a Plan and then Work the Plan!”
“Make a Plan.” It is the best leadership tip given to a person
entering or already in business today. Why develop a
business plan? If you have ever been unhappy with the
past performance of your business or if you believe that
your business could grow faster, make more profit, or be
more competitive, you have reason to plan. If you need
to raise more money – you need a plan.
You cannot do anything about the past, and you have very
little impact on the present. But you can control the
future. Whatever your business, a well thought out plan
will put you ahead of the competition and interest others
in your venture. It is part of <strong>Leaderhip and Learning.</strong>.
Here is a career performance system to help you get to where you want to go.
There is no such thing as a perfect business plan.
However, a good business plan serves an an excellent
“roadmap” for your business journey. It provides
confidence to whomever you invite to travel with you
on your trip. A plan allows you to anticipate crises and
provides a clear procedure on how to handle problems as
they come up by tying the action taken to the long range
goal. Again, <strong>Leadership and Learning</strong>.
Planning is the systematic development of actions aimed at
reaching business objectives. It involves analyzing,
evaluating and selecting opportunities. A business plan is
a detailed written statement that tells why, how, where and
when a company will achieve specific objectives.
After preparing the plan, you should adopt a business
strategy for action. Key personnel, prospective investors,
and other interested parties should know precisely how you
will use the money and resources at your disposal. Your
primary responsibility, as owner, is to secure the business
future. This should be accomplished through orderly
planning. It should not be left to chance. And the plan
should be a living document (and not put into the bottom
left drawer of your desk) that you refer to adjust on a
regular basis.
More articles on leadership are available here.
If you are starting a business, a business plan will help
define your concept, evaluate the competition, determine
your risks, and estimate your costs. A shortened version
of a business plan sometimes called a private offering, is
often prepared to summarize the business for inital
investors. Prospective investors from whom commitments
can be developed should be given a copy of the complete
business plan.
The length and sequence of a business plan will vary with
the complexity of the business. However, to get the MOST
out of your plan, it should provide detailed statements
explaining your:
*Mission – WHY you are in business;
*Objectives – WHAT you want to accomplish;
*Strategies – HOW you will get there;
*Tactics – WHO will do HOW MUCH, WHEN, and WHERE
To insure a plan’s success, these five “P’s” should be
carefully examined during the development of the plan:
*Physical location or position is it visible, accessible
and functional;
*Product represents quality, value, and service;
*Promotions command attention, develop interest, and
create desire;
*Profits are based on increased sales, controlled costs,
and reduced expenses;
*People are working efficiently, productively, and
maximizing profits.
What goes into a plan, may sound simple – getting it done
and followed is the tough part.
Remember: “If you do not know where you are going, chances
are you will not get there!”
So, MAKE A PLAN!!!
