Business planning: Getting the right people on board
Do you do any S-T-R-A-T-E-G-I-C thinking and planning in your business and life? So what do I mean by strategy? After all, it is the new buzz word for accountants and advisors. Is it this magic box of tricks that will unlock the potential in your business and life that you were looking for? No. Not at all.
Strategic thinking and planning is where you are looking at the business from a helicopter view point and planning for the future.
It’s not muttering and splattering about what little Johnny did on the job yesterday nor is it about what is or isn’t working. Rather, it’s setting a vision and direction for all the decisions the business needs to make.
How do you do this I hear you ask? You can’t do it yourself. You need good strategic thinkers to make up your ADVISORY board.
Nothing formal but a person or persons that you spend time with monthly or quarterly to discuss the strategic direction of the business and key projects to undertake to achieve the vision.
This is also a time to deal with any threats and weaknesses that hamstring your business performance and more so your own performance.
I have four people as part of my advisory board and it truly is a game changer. I sit on many other advisory boards and these meetings vary from monthly, bimonthly to quarterly and even six monthly. It just depends on the needs of the business.
So how much does it cost to have strategists assist in your business? Anywhere from $15-50k per year. The complexity and diversity of the business determines this price. If you don’t have a strategic advisory board to help and guide the direction and future of your business you are leaving money on the table and suffering alone in dealing with the day to day challenges.