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The business plan is not something trendy; it is a checkpoint for eliminating expensive mistakes
 
Tom Shay
Profits Plus Solutions
September 2016
Volume 17 Issue 10
Planning for success with a real plan

The objections to this month's idea are already understood; you are busy and your day is full. You do not need something else to do. However, this idea can save you money and time in the long run.

Let's take a quick look at it in an easy to work with format. Write how you want customers to see your business. Write where you want the business to be in five years. Write about the people you want working in your business.

You have just completed three key components; the vision, the mission and the personnel. With these alone, you can eliminate hiring the wrong person; eliminate  selecting the wrong merchandise or offering the wrong services; and you will know where you want to go.

There are more components on our website and we will talk more about this in coming months. Today's information is a good starting point.

And the bit about why you should start now is because December is, "Write your business plan month."

Why don't they stay put?

With the baby boomer generation, there was an expectation in the earlier years of their career, they would be moving every few years because of job offers. In their later years of working, much of this trait disappeared.

Each generation demonstrates traits. These traits are important to all businesses. As an example, when you read that fewer people are owning homes and are instead opting to rent, this would be an important point to a paint store.

The article of the month for September discusses the need for every small business, product or service oriented, Internet or brick and mortar, to be observant of these changes. There are new opportunities with these changes.

Book of the Month

It has been my experience that those selling media, be it traditional, online or social, are experienced only with selling their product or service to you. What you need is being able to sell the very product or service you want your customer to buy.

Hence, it is the content of your message that is very important. Which is why our book of the month is, "Words that work" by Dr. Frank Luntz. While this book was initially published many years ago, Luntz has updated the information many times.

For your media usage as well as your signage in your business, outside your business, and on your vehicles, the information Luntz has to share is valuable to you.

Internet Tool for Your Business
Frequently a business owner misses an important calculation with a brick and mortar business; how much inventory is needed. The wrong calculation is that of just trying to fill up the building. Our Internet tool of the month is designed to help you answer that question correctly. It is not just for a new business, but for all businesses.
Staff Incentive for Your Business

This past month I was asked to review the staff incentive plan for a business. The exciting part was the business actually having an ongoing program.

The bottom line of any incentive plan should be that it is to reward your staff for thinking like an owner. That covers several components; raising sales, eliminating expenses, increasing margins and taking good care of the customers. The incentives should be both individual and team oriented.

Of course, there are those who have frequently said, "I refuse to give an incentive to an employee for a job they should already be doing."

While we definitely understand that sentiment, we are still waiting for the first person to let us know that concept is working well for them.

We want to recognize A Carrot A Day by Adrian Gostick and Chester Elton, whose book provides the basis for each month's incentive idea.

Profits Plus |tomshay@profitsplus.org | (727) 464-2182 | www.profitsplus.org
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Profits Plus Solutions, Inc.
PO Box 1577
St. Petersburg, Fl 33731
(727) 464-2182
Fax: (727) 898-3179