Business Coaching

Running a small home based business can be very exciting and the rewards to business owners are the choice of independence and direction.

 In most well run large organisations there are certain key components that are sacrosanct, they must be done and done on a recurring basis. They include a Strategic Plan, a Business Plan and a Marketing Plan. Now that is fine for organisations that have teams of financial, marketing and planning people, but how do small businesses set aside time to complete any plans at all. Most small business operators “have a gut feel” of how to get the most out of their business don’t they? “Been doing it for years so why do I need to think ahead?” Wrong!

 No matter how small your business it will only grow successful if you have a plan of some kind. The statement “Those who fail to plan plan to fail” is equally true for small business as for larger businesses.

 Keeping the planning process simple is the best approach for small business operators. Don’t try to copy the two hundred page Strategic Plan published by one of the top five corporations in this country, it won’t necessarily help you with outlining what you need for your business.

 Start with a Strategic Marketing Plan which is really just a fancy name for “Write down under some sensible headings the things you want to achieve and by when”

 Once you have done this you may want to consider the new buzzwords for the year 2003. They are Business Coaching. Unlike larger business the one disadvantage of running a small business is that you have nobody to talk to about your ideas, plans and wishes for the future of your business. You may be on the right track or you may not know if you are on the right track.

 Find a Business Mentor with whom you can chat about your business and what your plans and wishes are. This may be a colleague or a family friend who is also involved in business. It may be your professional advisor, although you should distinguish this role from that of meeting with your accountant once a year. Alternatively you may want to investigate inviting companies who specifically assist home based small business in this area. The investment is often comparatively small in return for peace of mind.

Here is a simple outline of the things that you need to consider when you plan for the future of your business:

Strategic Planning Process

Activity
 Process Element Definition
  • Inspired by Owner
    Acted on by the whole team

VISION
  • What you aspire to be. Hint of a 'perfect world', 'best case', 'ultimate'
  • This is the Destination
  • Produced by Owner and adopted by the team

MISSION
  • Purpose of the business to achieve it's Vision
  • Defines what you will do to realise your Vision
  • This is the Journey
  • Where the company wants to be and when
GOALS
  • What you want to achieve i.e. the Outcome
  • These will be documented as Short and Long Term Goals
  • Goals will be Specific, Measurable, Action Oriented, Realistic and Time-phased (SMART Goals)
  • Describes the type of activity or method to achieve the goal
 STRATEGIES
  • How you plan to reach the goal
  • Method for achieving a particular end point
  • Break strategies down into a series of specific tasks

ACTION PLANS

Documented plans:

  • Budgets, Actions
  • What needs to be done,
  • Marketing Plan
  • This is the 'what' 'who' 'where' 'when' 'how much'


Most small businesses use an accountant to keep track of what their business has achieved but only 12% of small businesses use a marketing professional to help them determine what their business is going to achieve.

Marketing is mainly common sense but it is often the one part of the business focus that is overlooked or "guesses out" you cannot afford to take a gamble on where your revenue is going to come from or you just may not have enough to pay the bill - it's that simple!

Opportunities Unlimited Pty Ltd specialises in assisting home-based small businesses to grow.
Allen Dewhirst is available to assist you as a mentor, a coach or as a marketing professional.

Packages are available from $550. Why not get piece of mind as to the direction your business
is heading by having a chat with Allen today.


Opportunities Unlimited Pty Ltd
Telephone: 03 9841 0711 Fax: 03 9841 0701
E-mail: dewhirst@bigpond.net.au