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Bennie Fowler Sr. Explains Why You Need a Business Plan

Getting Your Business Up and Running Getting a new business off the ground is never easy. For the first few years, it can feel like you’re constantly running to keep up. If you want to get ahead, there’s no time to stop and look at things. Or that’s how it feels, anyway. In truth, stopping […]

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Getting Your Business Up and Running

Getting a new business off the ground is never easy. For the first few years, it can feel like you’re constantly running to keep up. If you want to get ahead, there’s no time to stop and look at things. Or that’s how it feels, anyway. In truth, stopping to look at the bigger picture can help you make smarter choices so you know you’re going where you want to be.

It is important to focus on the present most of the time. You need to focus on the tasks in front of you. But sometimes, it’s good to stop and make sure your current activities are leading you where you want to go. This is where creating a long-term business plan can make such a difference.

Your Business Plan Will Clarify Your Company’s Vision

By writing out a long term business plan you will gain insight on where you want your business to be in the far off future. This clarity can help you keep your business’s mission better in mind. Why does your business exist in the first place? Your long term business plan will reflect these values and set a path forward.

You Can Use It To Make Short Term Goals

Once you understand where you’re going, it will be easier to make sure you’re spending your time on the right things today. Perhaps a project sounds interesting. It takes up a lot of your time and budget, but it works within your industry and it seems like a good idea.

When you look at your long term goals, it will be clearer whether it’s actually a good idea for your business. Does it help your company get to its long term goals? If not, what does? Do the work that will get you there.

The work you do isn’t just about surviving today. It’s about building toward that long term future for your business.

It Will Help You Manage Your Time

With your short term and long term goals clarified, you can better manage your time. Entrepreneurs often suffer from a lack of work-life balance that leads to burnout. With your goals set, you can now create a daily schedule where your time is focused on what you need to do within business hours.

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