Tag: business plans

How To Set Up The Simple and Powerful Top 5 Priority System With Google Docs

I have been testing a simplified tool for moving business forward fast and it is working very well. I use it and all of my clients are using this. It is easy to describe and free.

This tool is linked to the business evaluation and resulting business planning process that are the front end steps of every coaching and consulting client.  In summary we arrive at a  very clear definition of the client’s business and target market. Now if your reaction to that first step is that everyone in business knows the definition of their business and target market, then next time you have a chance ask them and ask them to explain it in less than 30 seconds.

That one exercise usually takes most people between 2 and 8 hours to master and some actually never get it as they really cannot decide what business they are in. There are clients where I have had to define their business, target market and business goals otherwise we would not have been able to move forward.  Regarding business goals, I am mostly interested in measurable goals starting with financial performance and liquidity optimization.  Once there is agreement on the financial targets then we can move to the next steps which are designed to define the key actions that are needed to achieve the financial goals.

The end game of all this is the tool that is the topic of this article. Using a Google Doc which can be shared, a Top 5 doc  is created. The top part is labeled “Todays Date Top 5”  This list the five most important things that need to be accomplished today in order to achieve the financial target. The profit goals you have set this year are met or not by what you act on today. Those five action steps should be ones directed on completing profitable transactions that will achieve your profit plan.

I have been using the Top 5 System for about 2 months now and having all my clients implement it as the results are so powerful. There are two reasons for these successes:  First the Top 5 System means you are focused on precisely what is most important.  Second I am now implementing an accountability process where each client is required to share their top five with a person they are working with who could be their business partner, spouse or another in the business. They are also required to share their daily Top Five with me while the coaching or consulting engagement is active.

The following video demonstrated the basics of getting started.  The video starts right in at the screed for setting up a Google Gmail account. The start page can be found at mail.google.com

Steve Pohlit

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About: Steve Pohlit is a CPA,MBA and has been the CFO of several major domestic and international companies.  Steve is The Managing Director of  Top 1 Coaching/Consulting of  The JT Foxx Organization. He is  an expert business coach and consultant focused on building massive business  profits and net asset value. He is very experienced with Internet marketing and social media marketing.  All articles published by Steve unless specifically restricted may be freely published with this resource information.

When Business Sucks, Look In The Mirror

All the solutions are waiting for you to attract them.  That’s right and if you disagree, you are correct.  What you believe is true for you.  For me, I know what I focus on expands. That is The Law of Attraction and it is always working even in business.  If you expect problems you will attract problems. If you look outside for the reasons there are issues in your business, then you will always be finding someone or something to blame.  All this solutions for your business start with your knowing there is a solution. Consider these examples:

Last week I began working with a rather large business that finds itself in a cash crunch.  The first meeting I had with the owners of this business asked the single most important question relative to this situation. “Do you feel this situation can be solved?”  Without a consensus yes answer, there would be no reason to continue.  We continued.

I called a meeting on the second day right at the beginning of the day with these owners. I asked them to begin focusing on the picture of success.  I guided them to shift their thoughts from all the issues that are pressing to the picture of a well coordinated profitable business with plenty of cash.  I said to them we would have this meeting every day that I was on sight and I encouraged them to hold the meeting when I was not there.  This week I will give more clear directions on imaging specific success for their business.

In business there are three situations: First there is the current situation. Second there is a situation that is more negative than the current situation and if that trend continues it could lead to what people describe as a worst case. Third, there is the going forward picture of what it is that the team of people in the company will create.  Of course my work is primarily focused on the third picture. Since I am not able to discern what others are intending, I spend some time on a worse case scenario designed to protect the business should events proceed quickly to the negative. On balance,  I usually spend 90% of my time on designing and implementing the going forward plan.

Solutions to business situations vary depending on the conditions being addressed. The second day into this project calls were received that represented huge opportunities. Day three another call came in that also represented a marvelous opportunity.  None of these seemed to be in motion until the owners began focusing on success.  They are responsible for their business and they are responsible for attracting success. My work is to help them attract success and optimize revenue and profits. I  show them how to continue that process once the project they hired me for  is complete.

Does their business suck?  Well actually it did up until a week ago. The owners are beginning to see they are responsible. They are no longer blaming external people, places and things. Once you accept responsibility that your are the reason for the state of your business, then you can begin to paint a new picture.

I experience more examples of how business sucks  in one week that I could possibly write about in a month. I’ll bet you do to and I’ll bet you have a short list of what they could do to improve the situation fast.

Consider this  example:  in the town of my  most recent client referenced above,  there is a very nice building exterior that is a home of a restaurant.  From all outward appearances, I anticipated a very good dining experience. Inside told a different story.  First the atmosphere was very institutional.  However, it appeared to be clean.  The appearance of the staff was not one where you knew they had much pride in themselves and so they didn’t have pride in servicing customers. I am sure there were exceptions. But I didn’t attract any that evening.  The food was not even close to the pictures on the menu.  The beer selection was good and it was good.

That is just one example of  “When Business Sucks, Look In The Mirror”.  Each of the issues described are fixable in a very short period of time.  There are so many opportunities in business for “doing it better”  without having to spend a lot of money.  The solution starts from within. It starts with the mindset “I am responsible for the outcome of my business.”

In operations, I work with companies on fundamentals.  In marketing I recommend solutions and have do it for you solutions. The do it for you solutions are particularly valuable in the social media marketing arena. In all cases I stay focused on proven business principles.  These are the ones that are ignored the most because the discipline required t0 execute the fundamentals is routine and boring.  It  just so happens those fundamentals are where the gold is mined.

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit, The Profit Expert

Designer: Local Business Marketing This program is outstanding because it builds  long term relationships and profits.

Email Me, Steve Pohlit to schedule A No Obligation Consultation On Building Your Business Profits.  Need more customers? Let’s discuss how to use cutting edge Social Media Marketing in the revenue building cycle of your business to drive your profits sky high.

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A Practical View of Business Plans

Recommending a business plans is often a starting point for many advisors and consultants. The challenge is that there are nearly as many recommendations on how to do a plan as their are advisors and consultants.

 The single biggest issue with planning is the horizon. Many suggest a 3-5 year plan. If and when that gets done, the plan sits on the shelf in most cases.

I developed my consulting program  specifically for the purpose of guiding companies on how to achieve extraordinary revenue and profit growth in a short period of time. Clients are taught to think in 12 month chunks and then roll that back to what has to be done this week to achieve it.

When you bring your targets, to what has to happen today, this week, this month that are required to achieve the 12 month goal and hold people accountable for achieving those interim results, amazing things happen. 

In the process of doing this, a company must address what could derail the results. So the point of considering disasters is addressed, but you get there from a different direction. In my experience the top two potential disasters are sudden loss of a key person where there has been little or no backup planning and a company relying a great deal on one or a small number of customers for most of their business.  

Exceptions:

Most of the time companies need to think in terms of how what is being accomplished today moves them closer to the goals they have established for twelve months out. In fact most of my work has been to show companies how to install and implement this discipline along with supporting processes of accountability. 

There are some situations when longer term planning is required. These include companies where capital spending for equipment and possibly additional facilities is important. For the majority of businesses, negotiating financing or buying a company will require three to five year plans.  Lenders will insist on it. While on that topic, there is always money for a good deal…always.

Summary:

Most of the time a business plan should be what you are intending for all in the business to be accomplishing in a reasonalbe time period. Again I usually think in terms of about a year and that year is always rolling. There must be some provision in the case of a sudden loss that would have a major impact.

As for the plan itself, I have  found  most companies do not challenge themselves to achieve their potential. Often the discussion is along the lines of “well our growth rate this year will be about 5% because that is what we seem to be able to do in times like this”  I always ask the what if questions.  What if the revenue and profit target was a growth rate of 30% in the next 90 days?  How would you do that?  

It is interesting what happens when you start asking for ideas…you get them. 

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit
The Profit Expert

Email Steve to schedule A No Obligation Consultation On Building Your Business Profits.  Need more customers?  Let’s discuss how to use cutting edge Social Media Marketing, Internet Marketing and Direct Response Marketing in the revenue building cycle of your business to drive your profits sky high.

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Join My Fan Page on Facebook Click Here

FREE Report:

How To Increase Business Profits by 30% or More in 90 Days or Less