Tag: business plan

The Number One Question I Ask All The People I Coach To Answer

The Number One Question I Ask All  The People I Coach To Answer Is:

Have you decided how much money you are intending to make in the next year?

A definitive financial goal measurable in amount and time is essential.  For most businesses we use an annual horizon. Many advise a longer term strategic view.  Devoting time and energy to a strategic picture is part of it. However, I consistently find that a shorter time period that is easier to to clearly see developing is the most productive for most business owners and managers.

There is a lot more to achieving the financial goal which includes the business process, systems, leverage, marketing and working on the A items that make the most difference in business performance.  At this point…most people who read this article do not have a defined financial goal in place and related action plans designed to achieve that plan.  If you do this, you will begin to see a transformation in your business performance.

Action Steps

Get A Business Coach! If you already have a business with more than 10 employees, Hire A Consultant who is  able to work with you part of the time on-site.

Would you like to be in the next group of very successful companies and entrepreneurs?

Contact me now.

Steve Pohlit

Business Development Consulting
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About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.

Steve offers his  build business profits expertise to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.  Steve incorporates health and wellness plus relationship guidance in his work as they are at the foundation of achieving all goals.

All articles published by Steve unless specifically restricted may be freely published with this resource information.

Is Your Business Strategy Largely Determined By How You Feel?

How we feel about anything is a great barometer for prioritizing an action plan.  If you feel a major pain in your chest, the actionable options  and the time frame for implementation are generally clear. However, once we move past a life threatening emergency, we have a tendency to not move as purposely.

Why is it that we often take a “let’s see what happens” approach?  Actually there are many reasons. We rely on the news to tell us how we are doing. Currently the news reports the US is in a recession so we decide to accept that and feel bad.  We also decide to live in fear.  We fear lost sales and profits, we fear losing our business or our jobs and more.  This feeling bad or feeling negative state results in us being “off our game”.  Life a professional athlete, we don’t perform to our potential.

There a many companies in a hiring freeze and  have indefinitely suspended pay increases even when they are deserved by a star person’s performance.  The valued employees in place are asked to do more for the same or less pay.  Businesses scale back on marketing programs, investments in technology and in general any spending that seemingly hurts short term cash flow and earnings.

All of these actions and more have a direct negative impact on long term results. When the news tells us things are getting better and we decide to be back “on our game”, we find valuable employees leaving for a better place to work, we find competitors who have become stronger rather than weaker while we were holding back and we find a shortage of excellent outside talent to help us with projects that are now coming out of hibernation.

Does this scenario sound familiar? If you are younger than 25 it may not. But if you are under 25 pay attention and maybe it will be you who will learn from the current economic experiences.  Maybe it will be you who decides there is no law for us ever to be in an economic downturn. There is no  law that requires us to feel bad or be angry about anything.

We have an opportunity at the start of each day to move forward or stagnate and eventually fade away. I suggest you decide right now to move your business forward.

The Top 5 Action Steps For Moving Your Business Forward Starting Today
1. Decide what revenue and profit before tax you want to report for the year ended twelve months from today.
2. Roll those numbers back to what you want to report one month from now and for each subsequent month for this next year. (It makes no difference when you are starting this. Use the twelve month horizon right now.)
3. For the next two months, roll the revenue and profits number back to what your business needs to do each week starting this week to hit your monthly target.
4. Translate your two month weekly and monthly targets into specific action plans with assigned accountability.
5. Measure actual vs. planned performance with close attention to your actual vs. planned cash position. Support and hold people accountable for performance.

Taking purposeful action is the key to moving forward. The alternative is to sit back read the news to find out how good or bad you feel.  Your choice.  (If you would like to discuss these steps and how I have helped companies effectively implement these for long term business performance improvement, contact me at 727-587-7871.)

Sending all my readers the energy of wellness, peace and abundance.

Steve Pohlit http://www.stevereports.com

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Don’t Miss These Free Reports from my new business consulting site:

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The Key Issues That Must Be Addressed Before You Buy Any Business of Any Size. Click Here For The Free Report

Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. Don’t miss my FREE Report: How To Make More Money With Your Business Now and Long Term I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871 Remember many of my business building articles can be found at Steve Reports and my prosperity building tool (best tool ever for helping you manifest your goals and dreams) is The Prosperity Tool Chest and guiding articles posted very often at Prosperity Tip