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Name of author Rick Baker, P.Eng.

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Plan Your Work & Work Your Plan

by Rick Baker
On Feb 14, 2012

Some business people Plan Their Work & Work Their Plan. These people feel most comfortable when they have spent the time to plan before they act. These people feel confident because their plan-then-work approach to business has been successful. They expect there is a good chance success will repeat itself.

Other business people Take Each Day As It Comes. These people feel comfortable about their abilities and see no need to spend much time planning. These people feel confident because their day-by-day approach to business has been successful. They expect there is a good chance success will repeat itself.

There is one more group of business people: people who are not particularly comfortable or confident. They, for one reason or another, receive no particular forward-guidance or positive-direction from their past experiences. They feel, at best, acceptance of today's business-at-hand. Similarly, they feel, at best, acceptance of the fact they will experience tomorrow's business-at-hand. They feel no particular need to plan. They obtain no particular gratification from work actions.

Self-development experts and business gurus teach support Plan Your Work & Work Your Plan

I am not aware of any business guru who teaches Take Each Day As It Comes.

I have written a number of articles on this topic...for example, Strategic Planning - Why Bother!

I know, and am fascinated by, a very-successful business leader who favours Take Each Day As It Comes.

I learn everything I can about planning.

Here are a few things I have learned:

  • Napoleon Hill may have been the first to write the phrase "Plan the Work and Work the Plan"...in his classic self-development bestseller 'Think and Grow Rich' (1937).
  • Experts have identified 'Plan' as distinct activity linked to the pre-frontal cortex of the human brain....Executive BrainSmarts.
  • Planning provides an opportunity to think through the possible scenarios and possible actions before they are performed...optimizing the use of talents and skills...and developing a mindset that understands we are not limited to accepting circumstances and situations, to a degree we can create circumstances and situations.
  • There are many ways to approach planning: if you want to inject some creativity then I recommend Edward de Bono...for example, Six Thinking Hats.

 

Footnote:

I just re-read Brain Tracy's 2003 book GOALS! [and I recommend this book]

In GOALS!, Brian Tracy provides the following answers to the question - Why Plan?

  1. To Organize your thinking about the key issues.
  2. To think through the Actions before you begin.
  3. To allow thorough discussion in order to identify flaws and say What if?
  4. To identify weaknesses
  5. To identify Strengths and Opportunities
  6. To focus time and money on those 1 or 2 vital things that are essential
  7. To save Time, money, and Energy

 

Strategic Planning – Why Bother!

by Rick Baker
On May 6, 2011
Strategic Planning does not have to be an annoying, frustrating, waste of time!
 
Strategic Planning does not have to be a ‘necessary evil’!
 
I don't think people object to the idea of planning. However, I do think many people are turned off when we use that 2-word combination - Strategic Planning.
 
I suspect many people have had negative planning experiences including:
  • They planned the work then failed to succeed when they implemented the plan.
  • They hated the planning process because it was boring or bureaucratic or too slowly paced.
  • They were frustrated by the planning process because it took away time they needed to handle important day-to-day work or perhaps even time they needed to handle an emergency.
Strategic Planning has left bad tastes in people's mouths.
 
OK.
 
We all are in agreement. Many of us have participated in strategic planning efforts, which have failed.
 
So, when it comes to strategic planning - Why Bother?            
 
Here’s why…
  • The strategic planning process is the vehicle for important communication…absolutely critical if businesses are to have a competitive advantage…let alone sustain a competitive advantage.
  • Strategic planning does not have to be frustrating, boring, or in any way an unpleasant process. Certainly, there are necessary ingredients that, if not properly packaged, can be boring or bureaucratic. The key is – better packaging of the strategic planning ingredients. The process can be entertaining, enjoyable, provocative…even inspiring and motivating!  You simply need to make sure your process is refreshing. When the process is refreshing you and your people will be invigorated by the time spent together creating your future business success.
  • The strategic planning process does not have to be time-consuming. Sure, it will take some time. Here’s a hint: you should do the most-important things first. Another hint: focus on Strengths. When constructed properly the planning process builds upon itself…in an inspiring way.
 
Another thought…
 
Many of us volunteer considerable time to community and charitable service. Much of that service is dedicated to planning…planning committees, planning events, planning speakers, planning fundraising, planning celebrations, etc. While some of these contributions compete with the time we need for our work interests, we nonetheless freely volunteer our time… to do planning work. We choose to volunteer time for strategic planning because we know it is essential for community and charitable success. We must make the same choice if we desire sustained business success.

Tags:

Business Plan: Writing Plans | Leaders' Thoughts

The Perfect Pitch

by Rick Baker
On Feb 16, 2011
More thoughts on pitching business ideas
 
I had the pleasure of visiting with my friend Chris Labrador at The Communitech Hub a week ago.
 
At one point in our conversation we discussed business ideas and how to pitch business ideas, what works and what does not work.
 
I was impressed by Chris’ recommendations, which I will now share with you.
 
Chris recommended pitches be no longer than 5 slides.
 
Chris recommended those 5 slides cover the following:
  1. Clearly state the problem/opportunity (the two sides of the same coin)
  2. Why it's worth solving/winning (dimensions things and puts them into perspective)
  3. Who is the competition (quantitative & qualitative assessment of 'belief' systems - tangible and perceived - in play)
  4. How to address the problem/opportunity and beat the competition (the key elements of the value proposition ad differentiators)
  5. Assuming you've made it this far, the roadmap (key activities and milestones over the next significant period of time)
Chris – thank you for sharing your thoughts and excellent advice.

Tags:

Business Plan: Writing Plans | Communication: Improving Communication

About Writing a Business Plan…a note to a friend

by Rick Baker
On Jul 8, 2010
As promised, I'm writing to provide a summary of content for a mini business plan. By "mini business plan", I mean something much more like an executive summary than a detailed MBA-style document. I mean paperwork designed to be well-received by potential funders.
 
As a first step, I am forwarding what Guy Kawasaki recommended for a business plan executive summary. The following is an excerpt from his book, 'Reality Check', pages 33-34.
 
1. Problem. What pressing and important problem are you solving or opportunity are you addressing?
 
2. Solution. How are you solving this problem or tapping this opportunity?
 
3. Business model. Who are your customers and how will you make money?
 
4. Underlying magic. What makes your company special?
 
5. Marketing and sales strategy. What is your go-to-market strategy?
 
6. Competition. Whom do you compete with? What can you do that they can't? What can they do that you can't?
 
7. Projections. What are your financial projections for the next three years? What are the key assumptions and metrics to achieve these projections?
 
8. Team. Who is on your team? Why are they special?
 
9. Status and timeline. Where are you now and what are your major, close milestones?
 
Guy Kawasaki thinks these are the most-important things potential investors want to know. And, investors have a very-limited interest in things outside these topics or an avalanche of details at the early stage of discussion.
 
Guy is not that keen on using Powerpoint, however, when it is used for 'funding pitches' he recommends a 10-slide limit.
 
I think it is better to start with brevity...and build content carefully. I'd suggest writing out answers to Guy's questions under each of the 9 topics. Then you can add (selectively add) more details. I suggest limiting the entire mini business plan to 4-1/2 pages...1/2 page for each of the 9 topics. Less is better. And, I suggest leaving white space on each of the pages...make sure about 1/3 of each page is white.
 
I'm suggesting the white space for 3 reasons: (1) it makes it easier for you to highlight most-key points, (2) it makes it easier for the reader to write notes, and (3) it will stand out from the stuff written by others, signalling you have your pen under control.
 
And when this is coupled with a quality personal presentation it confirms you have more to say but don't want to bog others down with unnecessary or untimely details.
 
Later, when you prepare a presentation you can make it align with the mini business plan. If you use Powerpoint then you can have one slide for each of the 9 topics.
 
I have written a number of blogs that cover similar territory, using different words. We ask a lot of questions during our strategic planning training...starting with questions like those discussed yesterday.
 
For example, please visit the series on "7 Powerful Answers". That series is an example of our "CEO Thinking”. When you visit my blogsite – www.activestor.ca – go to the Search tool and type the words “powerful answers”…that will take you to the blogs.
 
You could consider our Spirited questions after you have answered Guy's questions. [or vice-versa] Our questions require more interpretation than Guy's...that is, our questions were designed for one-on-one discussion while Guy's were designed for a book.
 
I hope this helps.
 
Rick

Tags:

Business Plan: Writing Plans | Communication: Improving Communication

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