Masonry Magazine June 1997 Page. 11
Business Planning
and involved personnel. This cannot be achieved without some form of formal planning process.
So, let's say you are saying to yourself: we really ought to do some planning. What do you do? How do you do it?
THE SIX KEY STEPS
The six key steps to getting the planning process started are:
1. Define who you want involved in the process. Some contractors limit the planning to family members however most, these days, include key non-family personnel. Some involve their attorney or financial planner while others invite a consultant to act as a coordinator of their efforts.
2. Set aside a time for planning. The planning session should be at least a full day in length and should preferably be off-site. A weekend is ideal so that the participants aren't continuously being pulled away to the phone.
3. Gather participant inputs. Ask those who are participating in the meeting what they think should be discussed. And don't ignore those questions which you would rather not discuss. They are often the most important.
4. Have an agenda. While a general roundtable discussion may well be beneficial, it doesn't maximize the benefit of the opportunity. You need an agenda... and you need to stick to it.
5. For each agenda item, reach a conclusion. Try to ensure that you get to the point that you know: what is going to be done, who is going to do it, and when it is going to be done.
6. Generate a meeting summary. Have somebody report the conclusions of the meeting not the minutes. What is needed are the results of the meeting identifying the action steps, timing and responsibilities.
If you want to put the outcome of this meeting in a folder and call it your "Business Plan"... fine!! It is certainly a good first step in the direction of developing an effective business plan. It provides a written record on which you can build.
The next time you sit down to plan (and planning is something you should at least do annually and more often if there are major changes occurring in the business), you will have something to work with as a base document.
Then the phrase will be changed from that given earlier to:
Those who plan... plan to succeed