Category Archives: Productivity

5 Money-Making Reasons Your Business Needs a VIP Day

Why?  Simple.  To get it right!Your Business Needs a VIP Day

You’re a hardworking entrepreneur.  You wear many hats.  You juggle many tasks.  Often you completely exemplify the savvy small business owner who proudly boasts that C.E.O. stands for CHIEF EVERYTHING OFFICER.  You truly are everything to everyone when you are managing your own business and… you are FRUSTRATED!

Many entrepreneurs have a hard time finding good people who share and support their dreams. If you’re lucky, you might have found a solid team of trusted advisers and mentors who can help shift some of the decision-making burden by offering great advice.  More often than not; however, you’re like the average entrepreneur walking a tightrope between disaster and your dreams with no safety net beneath you.  Your support team includes, at most, a part-time bookkeeper, a few college interns, and your moody teenage kid who does your filing on the weekend.

Without the right team and the right support, all those hats you’re wearing start to get heavy. They’re filling up fast with more and more tasks.  It’s exhausting to lug around so much responsibility and your knees are buckling beneath you from the weight of it all.  You have so much to do but so little time to do it so you rush, skip important things you don’t want to do or don’t have time to do, and you make mistakes.  Sometimes these are big mistakes that cost you more time, energy and money.  And the more time and money you waste trying to fix things, the farther your dreams slip away.

Startup Leadership: How Savvy Entrepreneurs Turn Their Ideas Into Successful Enterprises

A luxury VIP Day is the answer to your prayers!

VIP Days are awesome!  It’s like coaching on steroids.  VIP Days provide you with a hands-on, one-on-one, intensive, full-day experience to tackle a specific issue or concern challenging your success.  You can accomplish more in just one day than you do in a typical month in your business.

You receive so many benefits by taking advantage of a VIP Day that it would be really difficult to list them all here so I will stick with just the top 5 that our small business clients completely rave about.

5 Money-Making Reasons Your Business Needs a VIP Day

  1. It’s a retreat!  How many times do you get the opportunity to really take a break and relax but still be completely productive?  When was the last time you took a vacation or even a purposeful pause?  Most VIP Days take place in a luxury hotel or resort and you often have to be flown in from your hometown a day prior to your scheduled session.  Many VIP Days also include additional perks like spa services, gourmet meals, and luxury car service to and from the airport.  You truly are treated like a VIP!  A relaxed mind is more creative.
  2. It’s customized! VIP Days are created especially for you.  Typically you are required to complete a pre-assessment that identifies exactly what you will need during your VIP Day.  Your agenda, your systems, your processes, and your dreams are the only focus.  You get the coach’s undivided attention to fully work out solutions specific to your business challenges for maximum success.
  3. Luxury VIP Day includes full-body spa massage in 4-star hotel suiteIt’s easy! One of the best things about VIP Days is that they take the pressure off.  You don’t have to have all the answers.  Your coach brings his or her expertise to the table with best practices, proven success strategies, and done-for-you-templates.  You don’t have to waste any time or energy trying to reinvent the wheel because everything you need to be productive is laid out for you.
  4. It’s quick! A VIP Day is just one day!  Depending on your coach, that day could be as few as 5 hours or as many as 8 hours.  It is very rare that a VIP Day would go over that. The intensive nature of a VIP Day means that you get to resolve even major challenges in a very short period of time.  Most VIP Days include recordings of the session so you can review all of the valuable content as often as you need to fully absorb the learning.
  5. It works! VIP Days are structured process flows intended to create a fully implementable, immediately executable action plan.  Most VIP Day packages include accountability measures like follow up phone calls to ensure you are fulfilling the commitments outlined in your action plan. VIP Days are built to help you to overcome business challenges, increase profits, improve processes, and accelerate your business growth so you can achieve massive returns on your investment.

VIP Days are great tools for frustrated entrepreneurs who want to finally get it right.  VIP stands for Very Important Person.  As the Chief Everything Officer of your business, that is exactly what you are.  Why not take a day to be treated like one?

Check out our Designing the Dream VIP Day!  This quick, easy, customized retreat really works to remove the frustration and exhaustion of being Chief Everything Officer of your business so you can achieve success even faster.

We offer a full-day (6 hours), hands-on, one-on-one intensive strategy session for business owners and entrepreneurs to tackle a specific issue or concern challenging their success. Walk away with best business practices, proven success strategies, done-for-you templates, and a ready-to-implement 6-month fully executable action plan. Your VIP Day includes gourmet lunch, refreshments throughout the day, session recordings, and 2 follow-up accountability calls to ensure you stay on track with your plan. A luxury retreat upgrade is available that includes an overnight stay in a 4-star hotel suite, spa massage, gourmet breakfast, and other perks.  Click below to learn more and sign up for your Designing the Dream VIP Day.

Book your luxury Designing the Dream VIP Day now!

Have you ever taken advantage of a VIP Day?  What do you think this type of retreat would do for you and your business?  Please comment below and don’t forget to share to your social media networks!

 

Archived Comments

  1. Sounds like a brilliant plan and I never heard of it. Having something so unique to offer in a big field of business coaching, gives you distinction. Hope you promote this concept heavily on all your platforms and to all your clients= past & present, & in a newsletter.

    • Absolutely, Roslyn! Yes, VIP Days are wonderful. What makes them even better is that it doesn’t matter where you live, work, or play in the world, I can bring you in for your very own VIP Day. VIP Days can also be delivered virtually with much of the same perks and most definitely equal success. Luxury VIP Days are a great way to retrain, recruit, and recharge.

  2. VIP Day sounds great for newbie entrepreneurs, who need help to focus on the most important tasks, to get a checklist of the business tools needed, and a boost of energy, confidence, and a reality check! Great stuff Coach Niquenya!

    • Thanks Renee! Yes, VIP Days definitely help to reduce the learning curve associated with entrepreneurship. This can be an amazing vehicle to jumpstart success in a new business venture but VIP Days work best for those business owners who already have some skin in the game so they can be most successful at understanding and implementing the advance best practices, tools, and strategies introduced during the session.

  3. Great idea for someone who needs to carve out some time – get refocused, reinvigorated, recharged!

  4. This is very timely Niquenya as I will be offering VIP days as an additional service to my Life Coaching business. I think VIP days are really fabulous because the focus is solely on the client for the entire day and it can accomplish a lot. At the moment I’m looking at the virtual option but intend to expand to luxury hotels or resort as you suggest. Your post has already given me some great ideas on how to structure my VIP days and pack them with value.

    • That’s great, Michelle! VIP Days definitely bring a lot of value to both the client and the coach. VIP Days are great ways for coaches to deliver a massive amount of content and clarity in a short amount of time thereby making an immediate impact on your client’s goals.

  5. VIP are interesting idea that I’ve experimented with. I found some people loved them other people found them to be to much in one day. I’m still experimenting with the idea and I do offer VIP days to clients as an alternative to a long term coaching arrangements.

  6. Hi Niquenya,

    Ya know VIP days sound awesome and much needed for busy people who just would like to chill out and relax :) Great idea and fun! Thanks for sharing :) I think more businesses should do this!

  7. The VIP Day sounds like a dream. I definitely need to take a purposeful pause. I would love to take advantage of this!

3 Simple Strategies for Quick Start-up Success

If you are like most aspiring entrepreneurs, you often feel stressed and overwhelmed by the entire business Quick Start-up Success Strategiesstart-up process. You have a great idea, a big dream, you want to see realized but it’s just taking so long to get there. You want to see your amazing vision come to life now, and right now, because everybody needs your products and services today as in yesterday.

The urgency you feel is not uncommon.  In fact, these are the exact feelings most of our small business clients have experienced during the initial start-up phase of their own business development.  Just like you, they wanted to know how to manage their time effectively to achieve quick start-up success.

After over 15 years’ of partnering with small business owners and aspiring entrepreneurs, we have observed 3 common traits that are shared by every one of our clients who has experienced quick start-up success.

Strategies for Quick Start-up Success

  1. Retrain.  Aspiring entrepreneurs are usually pulled in many different directions.  You often still have several responsibilities and obligations to meet outside of establishing your business start-up.  Parents, friends, spouses, kids, and even your church rarely understand your new priorities.  You will need to educate them that you no longer have the time and resources to be available as you may once have had.  Quick start-up success requires you to retrain those around you to respect the time you now have to redirect to your business.  You may need to have several hard conversations with loved ones to relay this message and you most likely will need to remind them often.  The faster you can set boundaries, the faster you will realize start-up success.
  2. Recruit. One way to gain the respect and support you need from those around you is to include them in your plans.  You will need all the help you can get.  As a bootstrapping entrepreneur, you are probably doing a lot by yourself and have very little capital to hire help.  Ask your loved ones to pitch in on business activities.  Small kids can hand out flyers.  Teens can file paperwork, do internet research, and make phone calls on your behalf.  College students can assist with website development, marketing, and even operations.  Spouses and friends can be put to work as your sales force.  In order to remain competitive and prosper, you will need to hire help for your growing business as soon as possible.  Recruiting from your pool of loved ones is surefire way to achieve quick start-up success.
  3. Recharge.  As I said earlier, you are probably doing a lot on your own.  You are being pulled in many different directions.  You still have commitments and responsibilities outside of your start-up company and you probably have a lot of new, innovative, and amazing ideas running through your mind all the time.  This level of activity takes a lot of stamina and can take down even the most gifted athletes among us.  What you need is good old-fashioned rest and relaxation.  Take the time to take a purposeful pause. A little bit of rest goes a long way.  Rediscover the proverbial “me” time by doing something you love and enjoy for at least thirty minutes every day.  You can meditate, take a bath, read a good book, or even take a nap!  I personally try to take at least 3 unscheduled naps every week and it does wonders for my clarity and creativity.  Recharging is really necessary to keep your sanity while building your start-up success.

Are you feeling stuck, overwhelmed or out of balance in your business?  Building Bridges Consulting transforms dreamers into successful entrepreneurs by partnering with you to bridge the gap between where you are now and where you need to be to build a successful, sustainable, and profitable business model.  If you are seeking to realize your small business success dream and make money faster than you could on your own, book your FREE strategy session and get started on the right path to quick start-up success today.

We’d also love to hear your thoughts and comments on this article.  Please let us know in the comments below if you have used these or any other strategies to achieve quick start-up success.

 

Archived Comments

  1. Hi Coach Niquenya!
    It is really true that you must ‘Retrain’ family and friends to keep moving forward in your business. Also like the idea that you can involve everyone in your success.
    Thank you :)

  2. Well, I was less stressed when I started cause I didnt know how much I need to know. There are so many moving parts to a business & social media marketing.

  3. These are great strategies. I especially like “Recharge.” I didn’t do this when I first started my business. I’d work long hours and hardly took a break. Not a good idea! We have to take the time to recharge. It makes us stronger and happier which will have an impact on our business. ;)

  4. I like them all, it is important for people to understand what you are doing and why. I know I was asked and still asked why don’t I get a job.

    Even after being in business for 10 years I need to learn how to recruit and recharge better. so that thanks for the reminder.

  5. It is so true that there is strength in building a community around you and having support so you don’t feel like you are doing it all alone. Those who want to remain independent and work as an entrepreneur, would learn much from your three “R’s” so they don’t feel they are going it alone. Feeling overwhelmed and stopping yourself because of that, is often a reason people give up before they even get started. Thanks for the tips on living your personal and business life in more balance.

  6. Retraining those around you is so important. I know folks tended to think that since I was home I was free to run around, or pick something up, or be there to just chat when they wanted to. It was hard for them to process that I was working. These are great tips. Thank you for the post!

  7. Very valuable tips on how to have quick start success! Nice share and good information that will help even the overwhelmed marketer :) Great share!

  8. I wish I had this great article at my disposal when we decided to open our private counseling practice. I struggled with retraining and recharging! I am close to a place where things are slowing down and I am getting more of a handle on entrepreneurship. Under 2 years in I am still in the infancy phase and struggle more with recharging because I feel I need to maximize every second. I plan to reach out for a consultation. Thank you!

  9. I think most entrepreneurs suffer from overload or overwhelm. Like you say in your blog Coach Niquenya we are being pulled in all directions and it’s tough to stay focused. I particularly like your recharge tips and maybe it’s a cue to implement some into my own very busy life. I think that good old fashioned rest and relaxation is calling me and so your blog is very timely. Your tips are worthy of an extra splash of bubble bath tonight! :)

  10. Kudos! Addressing the overwhelm in business is HUGE. It hinders growth, that is for sure. It’s hard as a new biz owner to discern what they need, do, etc… or not. It can get pretty crazy. I like your term, “purposeful pause.” Great article, Missy! :)

7 Reasons You Must Use a Business Travel Consultant

Are you still booking all of your business travel through online travel hubs like Expedia and Orbitz?  If so, it’s time to take a look at switching to your own business travel consulting agency.  If your company, organization, or school isn’t using a travel agency, or doesn’t have their own in-house travel consultant, surveys prove you are tossing dollars out the window by paying much higher travel costs in terms of money, time, and headache.

Savvy business owners, busy executives, nonprofit leadership teams, collegiate athletic departments, churches, and even solo professionals understand the value that travel consultants bring to the table.  Rather than leaving your travel arrangements up to chance or passing this often overwhelming task to already resource-constrained administrative staff, take a look at just some of the benefits to be had when you choose to make life easier with your very own travel specialist.

1. Cost Savings  This is a big benefit of using a travel consultant.  Travel professionals are privy to pricing structures that just aren’t public knowledge.  Additionally, these specialists can often negotiate directly with the vendor for even lower prices than most published deals.  A 2002 study by Topaz International shows average savings of $135 by agency-booked travel over aggregated online travel deal sites.

2. Knowledge  Experienced travel consultants know exactly how to weave through the endless red tape that is post-911 FAA regulations, and constantly fluctuating fuel prices the average person just wouldn’t even know about.  They also are aware of random facts about a variety of travel destinations.  Having access to this local knowledge could mean all the difference between a very enjoyable or a really bad trip.  For instance, did you know that there is a certain path in Belize that is prone to robbery only because it is a popular route for tourists?  Wouldn’t you like to know the safer alternative? Your travel consultant knows!

3. Connections  Establishing quality relationships is very important to your business travel consultant.  He or she has spent a lot of time schmoozing with hotel managers and airline booking desks so that you don’t have to.  What’s more, even independent agents typically belong to a network of other travel professionals who can assist them where there are knowledge gaps.

4. Personalized Experience Speaking of relationships, a travel consultant’s most important connection is with you.  Unlike online travel websites, your travel consultant is a real person who is very interested in your comfort and enjoyment.  They get to know you and exactly what your needs are.  Your dedicated travel professional has you in mind and can offer customized itineraries that cater to your unique lifestyle and preferences.

5. Ease of Administration  Booking large groups for training, conferences, and planning for other special events is not for the faint of heart.  This grueling task often requires multiple balancing acts in logistics.  Travel consultants are great at easing the burden off of your company by assuming this responsibility.  Do you set limitations on dollar amounts and/or who from your company has the authority to arrange travel on the company’s dime?  A professional travel agency can build your organization’s travel policy directly into the booking process.  The agent can also track and maintain all current, past, and future travel for each of your employees in a single profile including individual traveler information (i.e. preferences, frequent flier programs, etc), making it easier and faster to book travel quickly.

6. Incentives  This is yet another perk of a travel consultant’s valuable connections.  Agents can use the personal relationships they have built to request upgrades to first-class flights or luxury hotel suites, complimentary wine or champagne, gourmet breakfasts, cruise credits, group benefits like free cocktail receptions, and all sorts of other magnificent freebies on your behalf.

7. Emergencies  Aside from cost savings, this is the absolute greatest benefit of having your very own travel consultant just a phone call away.  Bad things happen to good people all the time.  Travel professionals are highly skilled at booking last-minute flights or arranging for overnight hotel stays when big snowstorms ground planes.  And they can do this often for much cheaper than the ticket prices you can find on your own.  When you are already dealing with an emergency situation, wouldn’t it be nice to have the sound of mind that at least your travel details are taken care of?

There are many more benefits to retaining a dedicated business travel consultant than this space allows.  Using a travel agent not only portrays a more professional image of your brand, but also keeps more cash on hand available for daily operating capital.  Do yourself and your business a favor by outsourcing all of your travel needs to a travel specialist today.  I challenge you to pick a location and run a search on your own, then ask your travel consultant to conduct the same search.  Please share your results in the comments below.

Top Challenges Small Business Owners Face Today

Recently I reached out to the small business owners and aspiring entrepreneurs who participate in my mentoring and mastermind groups to provide me with their thoughts on what they felt were the biggest challenges small business owners face today.  Their answers were not surprising.  I have summarized those challenges and some ways business owners can address them.

Financing Daily Operations

In terms of financing, managing daily operating expenses can be a consistent challenge.  The need for operating cash affects a company’s ability to market effectively and reach its target audience.  Without adequate capital on hand, product development can also come to a standstill.  Businesses today have great difficulty securing loans and other investments that would have helped keep operations afloat.  Cash flow can also be affected by slow or non-paying clients.

With the economy and traditional lending still remaining sketchy, it may be time to look atalternative financing options. Some of these include taking advantage of leasing opportunities as opposed to purchasing, taking loans on future accounts receivables, and applying for other types of asset lending programs.

I think most entrepreneurs have had the unfortunate experience of dealing with a non-paying client.  Accounts receivables that are grossly past due are not only frustrating but also create a huge gorge in daily operating cash.  The business owner tries to be understanding and sends out a number of gentle reminders to no avail.  In this situation, the business owner has little or no choice but to turn the account over to either a collection agency or an attorney who can send a collection letter on your behalf.  The latter may be the better option because people often respond with more urgency when the debt collection is sent on attorney letterhead under the threat of legal action.

Getting and Retaining Clients

You have launched your business, developed great products and services, and wait for the money to come rolling in, but the phone never rings.  Getting and retaining clients is a typical pain spot for small business owners.  Some ways to ensure a steady stream of clients include:

1. Using your existing client base for referrals. Ask your current clients for the contact information of individuals who could also benefit from your services.
2. Offering a customer loyalty and rewards system.  Implement this to keep current customers happy by incentivizing referrals and repeat purchases.  Give customers discounts, free merchandise or other items to keep them coming back.
3. Get online!  If you are in business today, you have to have a website.  Your customers turn to the internet as their number one source for information.  If you are not there, then your business will get overlooked.  You should also be actively engaging customers using social media.
4. Focus on building relationships. Your products and services are not about you.  They are about servicing the needs of your customer.  With this in mind, take the focus off of sales and put it on customer satisfaction by building great relationships.  Strengthen customer relations through newtorking events, blogs and other communication methods.
5. Analyze marketing performance.  What metrics are you using to determine if your marketing efforts are working? Use web analytics, surveys, focus groups and other market research to stay on the pulse of your target customer.  Performance measures will reveal which marketing mediums are working versus those that are not.  Put more efforts into those methods that have the highest returns on investment.

Keeping Up with Technology

Business owners in today’s world rely very heavily on technology to get things done.  These important tools provide automation of business processes to increase productivity and efficiency.  Unfortunately, it seems that no sooner than a technological solution is implemented, it is already considered outdated.  There are so many options for hardware and software solutions.  Additionally, there are new technologies to learn about including cloud computing and mobile technology.  How does the small business owner with limited resources, and possibly limited technical acumen, keep up with the rapidly changing world of office automation?

This is one area where it truly pays to outsource.  Hiring an expert consultant who can help you to analyze what systems should be automated in order to increase efficiency and productivity can save thousands of dollars and a lot of time in the long run. Aside from marketing efforts, investing in technology is one of the smartest and most important moves for the small business owner.

 

What are your biggest challenges as an entrepreneur in today’s economy?  How are you addressing these obstacles?  We would love to hear from you.  Please share in the comments below.

10 Mid-Year Business Review Activities

Almost everyone begins each new year with a set of resolutions, goals and objectives they Mid-Year Business Reviewhope to achieve.  Personal goals often include weight loss,  increasing savings, and finding one’s soul mate.  Businesses also begin the new year with similar lofty goals like trimming the fat from expenses, increasing revenue, and building strategic partnerships.  Another correlation between personal and business goals is, that while well-intentioned, these aims tend to lose fire somewhere around the end of the first quarter. This can be for a number of reasons but the major causes stem from lack of purpose, clarity, and motivation; however, even with S.M.A.R.T. (specific, measurable, actionable, realistic, time-constrained) goals in place, many businesses fail to reach their targets.

How can you, as a business owner, ensure that your goals and objectives are achieved and your company remains on target for the duration of the year?  One of the most tried and true methods to hold your organization accountable to reach important milestones is review and analysis.  Reviewing and revising your action plan regularly can make all the difference in how much forward movement your company achieves toward fulfilling its mission.

Your organization should review its action plan at regular intervals.  Depending on the specific activity and its critical importance to the mission, tasks should be reviewed and revised monthly, quarterly, mid-year and annually to learn how well the business is doing as a whole.  The following review activities focus on those elements that should be reviewed at mid-year to maximize success.

1. Financials  This is usually the first area of concern.  Businesses should review revenue and expenses to ensure they are on target with projections.  If you have not been in the habit of preparing monthly financial statements (balance sheet, cash flow statement, income statement), then the mid-year review is a good time to start.  Review your statements for areas of resource drain and other concerns.  Is your spending at, under or above expectations?  Ask yourself if there are ways you could cut expenses or if there are opportunities to increase sales.  Is there sufficient operating capital?  Are you on time with loan repayments?  Are your end-of-the-year tax documents in order?  Are you using accounting software?

2. Products & Services This area is often overlooked at review time.  Little or no attention is given to product and service offerings after initial development.  It is important to review your product and service line regularly to  determine if your offerings are still meeting the needs of your target market.  Do your products and services deliver the value propositions promised?  Do your customers realize the intended benefits?  Are there market trends that indicate a need to adjust, add or remove a product or service from your offerings?  Costs and pricing structures should also be included in this review.  Can you justify an increase or decrease in pricing?  What is your highest performing product or service and why?

3. Marketing Strategies How well are your marketing efforts working to expand your brand recognition and attract new customers?  Do you have clear marketing goals in place?  What strategies have you implemented and what metrics are you using to gauge their success?  Do you know things like your website conversion rate, the percentage of conversions by marketing channel, or the virality ratio of your social media posts?

4. Business Processes Another often overlooked area is business processes and procedures.  Have you reviewed the way your organization conducts its overall business operations?  Do you have a formal Standard Operating Procedure (SOP) that is published and available for review?  Are there processes that should be automated or outsourced for maximum productivity and return on investment (ROI)?  Are there software packages that could help increase productivity?  Engage your IT department and/or project managers to assist with analyzing the efficiency of business processes.  Hiring a business analyst or consultant may be necessary to provide fresh eyes when others in the company may be too close to recognize inefficiencies.

5. Employee Performance The mid-year performance review should be a familiar and expected review activity.  The performance review is an important tool to gauge how well your staff is meeting the needs and expectations of your organization, as well as to identify any professional development opportunities.  Do you have a formal review process in place?  What are you doing to ensure your employees are actively engaged in fulfilling your company mission?  Many organizations conduct surveys to measure employee engagement and to glean other useful feedback from its staff.  Line-level employees are often the first, and sometimes the only, direct line to the customer experience.  Business owners and managers should keep in mind the importance of this employee feedback to reveal what is going on throughout the organization and especially in the minds of its customers.

6. Customer Service Busy business owners may be too removed from daily operations to know how well customers are being serviced by staff.  While employee feedback can be helpful, it is equally important to solicit direct feedback from customers.  How are you communicating with customers?  Regular satisfaction surveys, focus groups and other market research studies should be administered to current and prospective clients alike.  Additionally, you can call your office like a customer to see what happens.  This will clue you in on the customer experience.  You can listen for concerns like inflexible scripts that don’t provide solutions for typical problems customers may experience.  Hiring secret shoppers to provide this feedback is another method to reveal the customer experience.  Websites like Yelp that provide customer reviews should also be scanned for important customer experience feedback.  You should also review comments on your company blog.

7. Vendor Relations The contractual partnerships forged with vendors should also be reviewed at mid-year.  Are   your vendors fulfilling their contractual obligations?  Are there opportunities to take advantage of early payment discounts?  Are leasing terms fair?  Are there opportunities to barter services?  Can additional financing through leasing over purchasing help manage cash flow?  Are there other strategic partnerships you should pursue?

8. Competitor Analysis Observing what your competitors are doing and not doing in the marketplace is important to maintain a competitive advantage.  Review their products and services, customer reviews, website keywords, and other indicators to determine where you stand in relation in the marketplace.

9. Expected Growth Unexpected, rapid growth can be a detriment to a business that isn’t ready to respond.  Review your facilities for ability to handle increased inventory, additional employees and other areas needed to address growth.  Do you have the right personnel in the right positions with the right skill sets?  If you are still doing everything yourself, now is a good time to analyze if it is a good time to hire help.  How much longer can you manage as the sole company employee?  Are you turning away customers due to limited time and resources?  Are critical skills missing from your current staff?

10. Business Plan The business plan is not just a document prepared at start-up or to solicit funding and then put in the bottom of a drawer to collect dust. This should be a working document that provides the strategic direction for your company.  The business plan should incorporate the organizational mission, vision, goals, and a clear action plan to achieve those goals.  The business plan is a decision-making tool that provides the criteria required for activities to stay within the company purpose.  Now that you have analyzed all areas of your business, it is time to review and revise your goals and objectives included in the business plan.  Are you on mission?  Are you staying on target?  Have you crept away from the plan’s scope?  Should new goals be incorporated into the action plan?  Should others be deleted?

These are the primary areas all business owners should analyze during the mid-year review.  Do you agree?  Are there others you would add?  We would love to hear from you.  Please share your opinions about mid-year business review in the comments below.