YOU'VE GOT TO HAVE A PLAN!

Philip Humbert had a remarkable conversation with a woman who
has built, and nearly lost, a great business. She launched
it in 1996 with little more than a dream and a few dollars
in her "hobby" account, and quickly built it to almost 17
million dollars a year in sales. Unfortunately, this year
her sales will be about half of that.
This terrible loss has nothing to do with a recession,
unemployment or the economy. It has everything to do with
the fact that she never made the shift from having a
thrilling "hobby" to being the leader of a thriving
business.
Without a plan and an organizational chart, she continues
to be the driving force behind every sale, every decision,
and every innovation. She works horrendous hours, sometimes
even packing and shipping orders herself on the weekends.
Sometimes she micro-manages; at other times she pulls back
so dramatically that instead of delegating, she abdicates.
Her employees are frustrated and her business is falling
apart!
Every business needs an organizational chart! Every
business, even a child's lemonade stand, needs to know who
squeezes the lemons, who handles sales, and who does the
accounting. Sometimes, in a micro-business, it may all be
done by the same person, but each role is distinct and this
should be recognized and documented.
Every business must know who their best customers are.
Every business must have a marketing plan, a budget, and an
R&D team. Every business needs a business plan that is
current and reviewed often.