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Informative Articles


Author: Cam Forbes Article: Kennametal Inc. prides itself on quality products, competitive prices, and on-time delivery. So when a European supplier missed a shipment by weeks and customers bought materials elsewhere, the...

A Real Business Coach
I try to write articles that will be of help to the business owner and I believe this one will, too. It may sound a little self serving at times because, after all, I am a business coach. However, I get many questions and there is some confusion...

Business Plans- What Consultants Don’t tell You!
Copyright 2005 Empower Business Solutions Do you have a Business Plan? Congratulations, but you are in a small minority. And if you have a plan, is it integral to your business, and instrumental to its growth? If the answer to this question is yes,...

Time Management is a Work of Art
Strategic planning schemes in time management are fundamental steps to a promising behavior scheme. If you are a student or professional, then you are well aware that time is essential for all aspects of life. Most of us are often too busy to fit...

Understanding Financial Statements When Approaching Lenders
“The bank is asking for our financial statements”, these are 8 words that often bring apprehension to many business owners. They are a young and maybe struggling company, they need bank financing to survive, and they haven’t got a clue what the...

 
Small Business Planning -- Three Myths

Copyright 2005 Denise OBerry

Are you -- like 70 percent of small business owners -- working without a plan? Here are three myths that need to be dispelled about strategic planning for small business.

1. It has to be formal -- Not so.

The value of a strategic plan for your small business is in putting the ideas on paper, creating action steps that will get you where you want to go and implementing those action steps.

2. I'm too small -- Not so.

Even a one-person business can benefit from a strategic plan. A strategic plan can help you make decisions about time management and budget. You can use your strategic plan to

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help you determine whether to attend an event or advertise in a publication. It's a check and balance tool.

3. A strategic plan is like a ball and chain -- Not so.

It's your plan. Too many small business owners feel like once it's on paper, it can't be changed. Wrong! Your plan should be an active document that gets reviewed and updated at least monthly, if not weekly. You're the business owner, you wrote it, you know what's happening in your market -- adjust as necessary.

About the Author

Denise O'Berry helps small business owners take action to grow their business. Find out more at http://www.smallbusinessmatters.com