As the old adage goes, ‘To fail to plan is to plan to fail’- and you don’t want to become a government statistic!
There are many people setting up in business today who are fantastic at what they do – in fact they are just the sort of person a business owner would want working for them.
These people may have felt undervalued by past employers, may have felt that they weren’t given the respect they deserved or had simply become demotivated.
This is when they had the thought, “I’ve been doing this for someone else for too long – I can do this on my own for myself.” They don’t want to be a passenger anymore – they want a go at driving!
Whilst they may have the skills to do the job at an operational level, they don’t often take into account that they need the skills to manage their business or that entrepreneurial flair that sets a business apart from the rest of the competition.
It is rare to find someone who is naturally a great technician, a great manager and a great entrepreneur; however the management and administration of a business can be learned. Running a business is not just about knowing your strengths and weaknesses, spotting the opportunities or heading off the threats; it is about doing all of the above with both your customers and competition in mind.
“But how will I find the time for that?” I hear you ask. I have a business to run. Yes you do, and you need to be running it in order to avoid being one of the 50% of new businesses that fail within their first three years – indeed 20% of new businesses fail in the first year!
Setting up a new business is an exciting time – I know as I’ve done it. The trick is to plan as much as you possibly can in order that you set yourself clear objectives for the short, medium and long term. As the old adage goes, To fail to plan is to plan to fail – and you don’t want to become a government statistic!
Starting from scratch is a real challenge but it is possible to launch and grow your business by managing the business. By planning what you intend to do and how you intend to do it, organising your resources in order to achieve your objectives, leading and staff you have forking for you and continually reviewing your progress against your objectives you remain in control of your own destiny.
When we manage effectively, our businesses run efficiently. Our businesses are like a journey – once we know where we are going we can plan how to get there.
Think about where you want your business to be in three years. Once you have decided your destination, work out how you are going to get there – for example where you need to be in a year and in two years and what you need to do to get to each point, taking into account any bumps in the road on the way.