Small Office, Home Office Information |
| Small Business Planning Hurry Up and Think When I was in the army it was well known that the Australian Army’s unofficial motto was ‘hurry up and wait’. No matter what had to be done there would be a mad rush to get everything ready and then we would wait … and wait. But that unofficial motto has some bearing on small business although it might need just a little alteration to really apply to just about every small business. Instead of ‘hurry up and wait’ the unofficial motto of every small business should be ‘hurry up and think’. All too often we rush into some scheme or plan that we just know is going to increase our bottom line, take our business to the next level, work miracles and do what nothing else has ever done for our business before. Instead of rushing into those schemes, if we really are serious about growing our small business, we should be using that motto – hurry up and think. By all means get excited about a new idea, you can even get passionate about it if you like but don’t rush into it. Instead hurry up and think. Think about what the outcomes are likely to be for your small business. Don’t just identify the benefits and the reasons why you should do something. Spend time realistically assessing the problems that could arise, list the reasons why you should not go ahead with the latest exciting idea. Look at the impact that whiz-bang idea is going to have on your cash flow, be honest about the time it will take to implement and what time you can afford to commit to that idea. Look at the impact it will have on other aspects of your business and whether it really is a good use of your time. And see whether or not your family can afford the added cost in time and money that your new idea will cost them. Hurry up
and think and you won’t have to scramble madly to save your small
business when your latest half-baked idea goes pear shaped and your business
is in danger of crashing down around you.
6 Sep 2005 |
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