Guard Rails to Success – Planning

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News

• NBM Names Dave Pomeroy as President – Dave Pomeroy, a 25-year veteran of National Business Media (NBM), is the company’s new president, effective Aug. 1, 2019. The company’s founder and CEO Bob Wieber made the announcement.

Guard Rails to Success

Terry: Let’s discuss keeping your business between the guard rails on your journey. As we talked in the opening, specifically, about working on your business rather than in your business. It’s easy to get caught up in the day-to-day but to maintain your lane and to grow your business, you have to plan for short and long term success. Lots of different ways to do that.

Terry: We know that over the last year or so you have been doing a lot of work in the business planning arena. Why has that become such a passion for you?

• Working with lots of different small businesses at any one time. 
• Why some have a good shot and others might struggle
• Got more clear about my “why” = recognize (2 RG Audience – 7 years)- Succeed
• What is the key formula to success
• My gut said yes = clearly describe why, what the future looked like + Plan. 
• Light bulb | Connect Why = Help small businesses describe their “Why”. 
• Do it clearly enough to share with stakeholders
• Business plans = perfect medium
• Business planning = No right or wrong or even exact format
• The practice of testing things out before investing the money 
• Should be a fun and energizing | horrifying, foreign and daunting
• My goal is to change the PR crisis that business planning has. 
• My experience in Todd’s wholesale group. 

Aaron: Give us your take on the nuts and bolts reasoning for having a business plan.

Terry: besides business planning what are some other keys to success?

• Share a little about Canfield’s one day to greatness
• BELIEVE “If you can dream it, you can do it!” Walt Disney
• BE WILLING TO PAY THE PRICE “If people knew how hard I worked to gain my mastery, it would not seem wonderful at all” Michelangelo
• KEEP SCORE FOR SUCCESS
• “3% Of People Have Measurable Written Goals for their Life, Also 3% of the Population Owns 90% Of the Resources in the World”  Jack Canfield

Terry: How about marketing planning, where does that fit in?

• This is one of the 5 most important parts of your business plan / This is the minimum
• Starts with SWOT and Market Analysis
• Profile of your ideal customer and order
• Product and Services Mix + Pricing Strategy
• Then Marketing Strategies that include SMARTer Goals – 
  • Have the first draft of a Strategies Template – Just sign up to be notified at http://aaronmontgomery.info/templates and after signing up – Free Version
• From there you should also add something like Jay’s coming soon hopefully – Design and Style Guide

Aaron: What are some of the key planning task you focus on and how can that translate to the decorators/regulators listening out there?

Aaron: I have always really admired your 52/15 concept. What does 52/15 Mean – Where did you come up with that?

Aaron: How do you get more out of your production without just saying “Work harder…”?

Aaron: Why is training important even if you have been doing this for years?