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How to Make a Plan That Will Help Your Business Thrive

How to Make a Plan That Will Help Your Business Thrive

What is the difference between a successful company and an unsuccessful company? Why do some entrepreneurs succeed where others have failed miserably?

What makes someone successful?

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    Everyone is looking for the answers to these questions; everyone wants to find the keys to succeed, the shortcut that will make it all easier.

    The problem is in that word, shortcut.
    The real key, the real secret is that there is no shortcut.
    You need to work hard, endure long hours, and maintain focus if you want success.

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    You can succeed

    Many studies have been made to why some entrepreneurs succeed while others don’t.
    In many cases, it all comes down to planning.

    There’s an old saying: every minute spent on planning saves up to 10 minutes in execution. Even though we know this, very few people spend enough time planning.

    Spending time before you start your business making plans is tiresome to many. You are essentially working without getting paid, in the short run. But when you plan you create a roadmap; you build yourself a guide that will help you on your entire journey towards success.

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    Successful entrepreneurs plan and then do something completely different

    The hard part about planning is getting it right. When you plan you try to foresee circumstances in the future, to predict how things will play out and make plans for how you will react and what you will need, you can’t always get a 100% success rate. Since no one knows what the future brings, most plans become obsolete as soon as the entrepreneur starts his business.

    All successful entrepreneurs started off with a set of plans, but many ended up doing something completely different. (But they all had a plan).

    Unsuccessful entrepreneurs fail because of lack of planning

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    Because studies show that many original business plans become obsolete soon after the business gets off the ground, some entrepreneurs decide to skip the whole planning process. But without an exact idea of what they are going to do, what they need, what opportunities to look for and without a frame of reference to evaluate situations by, they fail.

    Successful entrepreneurs have a plan to update

    When you have a plan, you can modify it, you can evaluate things happening around you and compare them to your plans. You will be able to see if this opportunity is in line with your goals, values and dreams. If it isn’t, you know it is a bad idea to follow. Thanks to this whole planning process, you will have a long term mindset, you will constantly be thinking about what the things you are doing today will have for affects on your future.

    This mindset is a precious commodity and one of the most important parts of being an entrepreneur. Remember, all successful entrepreneurs have made business plans, even if they didn’t always do exactly what they expected.

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    Action Exercises

    1. Create a business plan
    Ask yourself the following questions – What do you plan on doing? Who is it you are selling to? What do you need to be successful at it? How much do you need to sell to brake even? What costs will you have? How many employees do you need? What kind of office space will you require? What can you delegate? What do you need to do yourself?

    2. Create a vision
    Try to crystallize the values you want your company to stand for in simple terms. Make sure everyone who joins the company learns about what the company stands for, and prove it to them by living by those values.
    Let the employees be a part of the creative process, come back to it once in a while, look it over, and let them give you their input.

    3. Never be afraid to update your plan
    You will need to update your plan many times, you might even change to a new industry after some time has passed. Don’t be afraid of this, but make sure that the change is in line with your goals and your vision. If the path you are on won’t lead you to your goals, change that path now to one that is more suitable.

    More by this author

    Daniel M. Wood

    Daniel is the founder of Looking To Business.com. He writes about Motivation, Success and Time Management.

    How Setting Daily Goals Makes You Achieve Big Success How to Be Stress Free at Work and End Overwhelm How to Make a Plan That Will Help Your Business Thrive

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    Last Updated on June 5, 2020

    10 Huge Differences Between a Boss And a Leader

    10 Huge Differences Between a Boss And a Leader

    When you try to think of a leader at your place of work, you might think of your boss — you know, the supervisor in the tasteful office down the hall.

    However, bosses are not the only leaders in the office, and not every boss has mastered the art of excellent leadership. Maybe the best leader you know is the co-worker sitting at the desk next to yours who is always willing to loan out her stapler and help you problem solve.

    You see, a boss’s main priority is to efficiently cross items off of the corporate to-do list, while a true leader both completes tasks and works to empower and motivate the people he or she interacts with on a daily basis.

    A leader is someone who works to improve things instead of focusing on the negatives. People acknowledge the authority of a boss, but people cherish a true leader.

    Puzzled about what it takes to be a great leader? Let’s take a look at the difference between a boss and a leader, and why cultivating quality leadership skills is essential for people who really want to make a positive impact.

    1. Leaders Are Compassionate; Bosses Are Cold

    It can be easy to equate professionalism with robot-like impersonal behavior. Many bosses stay holed up in their offices and barely ever interact with staff.

    Even if your schedule is packed, you should always make time to reach out to the people around you. Remember that when you ask someone to share how they are feeling, you should be prepared to be vulnerable and open in your communication as well.

    Does acting human at the office sound silly? It’s not.

    A lack of compassion in the office leads to psychological turmoil, whereas positive connection leads to healthier staff.[1]

    If people feel that you are being open, honest, and compassionate with them, they will feel able to approach your office with what is on their minds, leading to a more productive and stress-free work environment.

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    2. Leaders Say “We”; Bosses Say “I”

    Practice developing a team-first mentality when thinking and speaking. In meetings, talk about trying to meet deadlines as a team instead of using accusatory “you” phrases. This makes it clear that you are a part of the team, too, and that you are willing to work hard and support your team members.

    Let me explain:

    A “we” mentality shifts the office dynamic from “trying to make the boss happy” to a spirit of teamwork, goal-setting, and accomplishment.

    A “we” mentality allows for the accountability and community that is essential in the modern-day workplace.

    3. Leaders Invest in People; Bosses Use People

    Unfortunately, many office climates involve people using others to get what they want or to climb the corporate ladder. This is another example of the “me first” mentality that is so toxic in both office environments and personal relationships.

    Instead of using others or focusing on your needs, think about how you can help other people grow.

    Use your building blocks of compassion and team-mentality to stay attuned to the needs of others and note the areas in which you can help them develop. A great leader wants to see his or her people flourish.

    Make a list of ways you can invest in your team members to help them develop personally and professionally, and then take action!

    4. People Respect Leaders; People Fear Bosses

    Earning respect from everyone on your team will take time and commitment, but the rewards are worth every ounce of effort.

    A boss who is a poor leader may try to control the office through fear and bully-like behavior. Employees who are petrified about their performance or who feel overwhelmed and stressed by unfair deadlines are probably working for a boss who uses a fear system instead of a respect system.

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    What’s the bottom line?

    Work to build respect among your team by treating everyone with fairness and kindness. Maintain a positive tone and stay reliable for those who approach you for help.

    5. Leaders Give Credit Where It’s Due; Bosses Only Take Credit

    Looking for specific ways to gain respect from your colleagues and employees? There is no better place to start than with the simple act of giving credit where it is due.

    Don’t be tempted to take credit for things you didn’t do, and always go above and beyond to generously acknowledge those who worked on a project and performed well.

    You might be wondering how you can get started:

    • Begin by simply noticing which team member contributes what during your next project at work.
    • If possible, make mental notes. Remember that these notes should not be about ways in which team members are failing, but about ways in which they are excelling.
    • Depending on your leadership style, let people know how well they are doing either in private one-on-one meetings or in a group setting. Be honest and generous in your communication about a person’s performance.

    6. Leaders See Delegation as Their Best Friend; Bosses See It as an Enemy

    If delegation is a leader’s best friend, then micromanagement is the enemy.

    Delegation equates to trust, and micromanagement equates to distrust. Nothing is more frustrating for an employee than feeling that his or her every movement is being critically observed.

    Encourage trust in your office by delegating important tasks and acknowledging that your people are capable, smart individuals who can succeed!

    Delegation is a great way to cash in on the positive benefits of a psychological phenomenon called the self-fulfilling prophecy. In a self-fulfilling prophecy, a person’s expectations of another person can cause the expectations to be fulfilled.[2]

    In other words, if you truly believe that your team member can handle a project or task, he or she is more likely to deliver.

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    You can learn more about how to delegate in my other article: How to Delegate Work (the Definitive Guide for Successful Leaders).

    7. Leaders Work Hard; Bosses Let Others Do the Work

    Delegation is not an excuse to get out of hard work. Instead of telling people to go accomplish the hardest work alone, make it clear that you are willing to pitch in and help with the most difficult tasks when the need arises.

    Here’s the deal:

    Showing others that you work hard sets the tone for your whole team and will spur them on to greatness.

    The next time you catch yourself telling someone to “go,” a.k.a accomplish a difficult task alone, change your phrasing to “let’s go,” showing that you are totally willing to help and support them.

    8. Leaders Think Long-Term; Bosses Think Short-Term

    A leader who only utilizes short-term thinking is someone who cannot be prepared or organized for the future. Your colleagues or staff members need to know that they can trust you to have a handle on things not just this week, but next month or even next year.

    Display your long-term thinking skills in group talks and meetings by sharing long-term hopes or concerns. Create plans for possible scenarios and be prepared for emergencies.

    For example, if you know that you are losing someone on your team in a few months, be prepared to share a clear plan of how you and the remaining team members can best handle the change and workload until someone new is hired.

    9. Leaders Are Like Colleagues; Bosses Are Just Bosses

    Another word for a colleague is a collaborator. Make sure your team knows that you are “one of them” and that you want to collaborate or work side by side.

    Not getting involved in the going ons of the office is a mistake because you will miss out on development and connection opportunities.

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    As our regular readers know, I love to remind people of the importance of building routines into each day. Create a routine that encourages you to leave your isolated office and collaborate with others. Spark healthy habits that benefit both you and your co-workers.

    10. Leaders Put People First; Bosses Put Results First

    Bosses without crucial leadership training may focus on process and results instead of people. They may stick to a pre-set systems playbook, even when employees voice new ideas or concerns.

    Ignoring people’s opinions for the sake of company tradition like this is never truly beneficial to an organization.

    Here’s what I mean by process over people:

    Some organizations focus on proper structures or systems as their greatest assets instead of people. I believe that people lend real value to an organization, and that focusing on the development of people is a key ingredient for success in leadership.

    Final Thoughts

    Learning to be a leader is an ongoing adventure.

    This list of differences makes it clear that, unlike an ordinary boss, a leader is able to be compassionate, inclusive, generous, and hard-working for the good of the team.

    Instead of being a stereotypical scary or micromanaging-obsessed boss, a quality leader is able to establish an atmosphere of respect and collaboration.

    Whether you are new to your work environment or a seasoned administrator, these leadership traits will help you get a jump start so that you can excel as a leader and positively impact the people around you.

    For more inspiration and guidance, you can even start keeping tabs on some of the world’s top leadership experts. With an adventurous and positive attitude, anyone can learn good leadership.

    More About Leadership

    Featured photo credit: Brooke Lark via unsplash.com

    Reference

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