Planning for Success

I am changing the name of business planning to planning for success. When I start to talk about business planning, people begin to get anxious or they glaze over. Very few get that sparkly interested look in their eye and really engage. I’ve discovered that there is a fear of business planning, mostly because business planning is foreign and unfamiliar territory. I’ll bet that when I start talking to people about planning for success, they will respond in a more open fashion, be curious and want to engage.

As part of the horse industry, I’m sure that you have encountered breeds that are misunderstood. Business planning….ummmm…..planning for success is like that too. Many people say that their plan is in their head. And what there is of it may well be, but there are usually many missing elements. Just by articulating it and getting it onto paper, you provide yourself with the opportunity to read it back to yourself and see if it makes sense to you. This gives you the chance to improve on it, before mistakes are made and bad decisions have cost you a ton of money and time. No one wakes up and says. “Today I am going to make bad business decisions.” Yet, if you don’t actively engage in business planning…..ummm….planning for success….in a committed fashion, you have elected to make ill-informed decisions that may be devastating to your business.

Another misconception is that a business plan becomes a doorstop when it’s completed, or that it gets put onto the back of a deep dark shelf somewhere never to see the light of day again. Still others think that once the plan is completed that they must follow it exactly. Neither of these is correct. A businesss plan….ummmm….plan for success…..is a living document, just as your business is a living entity of its own. Going through the process of developing a plan gives you a process to follow again in the future as you consider new products, services and markets. Reviewing your plan quarterly allows you to spot variations in your projections. This gives you the time to evaluate whether your initial assumptions were off base, and if so what else is affected as you move forward. If your initial assumptions were correct, you can determine what is needed to get back on track. And as time moves forward the environment may change in ways that couldn’t have been predicted (September 11, for example). This is a good time to redirect your plan accordingly.

Do you remember what it was like when you learned how to ride without your stirrups? At first you didn’t like it much – it made you nervous, your balance and strength weren’t very good, and you were pretty sure you’d never be able to do it. But as you practiced more, your balance and strength improved and you appreciated the solid foundation it gave you as your riding skills developed. Planning for success is like that too. After you’ve been through the process once, you’ll appreciate the new contacts and resources that have become acquainted with. You’ll also know what steps to take when you are considering complicated business decisions in the future. With a step-by-step process, you can build a solid foundation for your equine business and take the first steps towards success. For more information about business planning….ummm….planning for success, check out Demystifying Business Planning: Concept, Customer, Cash.

Sustainability - What's It All About?

The Green movement is all around us and on a regular basis we hear the words “green” and “sustainable” used interchangeably. Green evokes visions of recycling, natural products, energy efficiency and carbon footprint calculations. But my guess is that “sustainable” paints a more nebulous picture in your mind’s eye. So I saw this great diagram - thanks to Teachers: California Academy of Sciences - that provides a visual for sustainability. Basically this diagram shows what is being called the TBL – or triple bottom line. Instead of considering profit only, business sustainability also considers the human element and the planet. The diagram also included this definition of sustainability: “to meet the current needs of our global population without compromising those of future generations.”

Wow, that’s a lot to think about…having what we need now without compromising the future. It provides us with a challenge and call to action. Yup, it’s about change. The challenge and change aspects could be enough of a reason just to back-burner it all given everything else that’s already on our plates. So here’s what I’m going to do to work towards sustainability, and maybe it’s an approach that will work for you too.

Unless you have a mind that already thinks from the middle of this diagram, it could certainly be overwhelming to try to leap from the outer three areas directly into the middle. (And certainly even the profitability factor frequently needs much attention in the horse industry.) So I’m going to take it one baby step at a time and look at each element individually. I’m going to write down steps that I’ve taken already and other steps to consider. For example, I use fly predators on my property instead of insecticide systems, and also use a solar fence charger. This approach is helping me to see how I can shift my resources – not necessarily spend more – but spend what I would have in a different way. The more steps I take like this, the more it opens my awareness to other steps and to a more holistic approach. So what do you think? About sustainability, about what you’ve done working towards this. I’d love to hear about your efforts towards sustainability and other ways to approach it – please share with us here.