The number one reason why most small businesses do not grow is because the owner does not take the time to create an annual business plan for growth! I hope you will be different!
This seems like a “no-brainer” but most small business owners do not do this. But why? My experience working in and with small businesses for over 25 years has shown me 3 basic reasons.
They Are Too Busy To Plan
First, most business owners are too busy to stop and plan! Because they do not have well-defined systems, the typical business owner is working way too much. They spend time doing tasks and duties they should be delegating or outsourcing. Or even worse, they are wasting time on meaningless tasks. If they are not working, then the business is not making money. So they work, work, work! They fear that if they take a day off, a week off, a month off, that balls will drop and the wheels may come off.
The business is too owner-dependent and not systems-dependent.
Trust me, you’ve got to start by taking time to plan. I encourage my clients to take a full-day strategic retreat once a quarter. By doing this every 90-days they are able to prioritize, focus, and grow their business. Once they establish this habit, I then show coach them to have an annual planning time to map out how they want to grow their business over the next 12 months.
Most businesses will never grow with out the owner developing this discipline!
They Don’t Know Where to Start
Second, most business owners do not have a plan for planning! Sound strange? It’s not uncommon. I’ve had owners tell me that they blocked out time to plan but they just didn’t know where to start. I’ve had many tell me that they bought a business planning software, but it was so complicated they became discouraged and never finished. I provide my clients with a template and a process so they can create an effective plan in an efficient, timely way.
They Refuse To Be Honest With Themselves
Finally, many business owners are afraid to face reality! The truth is an annual planning process requires us to face the truth about what’s working and what’s not working! It requires us to face the truth about our numbers, our people, our systems, and ourselves.
While there are typically many things to celebrate and be proud of, there are also things that we have to acknowledge need improvement. By having the courage to face reality we are able to make the critical changes that will enable us to grow our business. Most owners find that a trusted peer group or a business coach can be very valuable in helping them face reality, as well as make plans for significant growth and improvement.
Again, I hope you will be different. I hope you will push through these 3 barriers and grow your business. As a business coach serving Houston, Sugar Land, and the Katy, Texas area, I’m here to help! Schedule a meeting or a phone call with me to discuss how you can create a powerful annual business plan for 2018.