If I were a betting woman….

A Note from the Coach

Howdy! I’ve been told I’m a pretty intuitive person. Not a fortune teller, certainly not a mind reader. But if I were a betting woman, and you told me you’re struggling with your business right now, I am almost 100% sure I can guess the mistake you’re making.Why? Because 99% of entrepreneurs who struggle are making the EXACT same mistake. And this deadly mistake can sacrifice both your sanity AND your bottom line. Want to know what it is? Then tune in for a FREE 60-minute tele-class on Tuesday, Oct 24, at 7 pm EST. Sign up here: http://www.ogandoassociates.com.com/previewcall.htm I’ll not only share what this mistake is but how you can avoid it. PLUS I’ll also be giving you a preview of my step by step formula to skyrocketing into six and seven figure success!Go here to sign up: http://www.ogandoassociates.com.com/previewcall.htm Can’t make it? Not a problem, sign up anyway and you’ll have access to the audio: http://www.ogandoassociates.com.com/previewcall.htm Love and Success, Monikah J. Ogando, “The Entrepreneur’s Explosion Coach” Feature Article Planning to Fail: 7 Tips for A Fundable Business Plan Are you planning to fail? That sounds like a funny question, doesn’t it? Who would plan to fail? Especially when you work so hard on your business. But what if I told you two-thirds of small business owners do plan to fail. It’s a documented truth. (According to the latest Wells Fargo/Gallup Small Business Index, 69 percent of new business owners do not have a business plan.) The facts are in: Every business that runs without a plan is a business that plans to fail. Often without even knowing it. The old saying, “Failing to plan is a plan to fail” is true. The Small Business Administration (SBA) reports that the odds of failure are much greater for business owners who do not have a written plan. In fact, the SBA cites the lack of a written plan as one of the top three reasons for not succeeding. Are you without a plan? If so, here are some questions to spur your thinking as you get started on writing your plan: 1)  What is your vision for the company? In other words, if “your work here is done”, what would be possible in your industry, in your customers’ lives, in your target market that is currently not a reality? 2)  What is your mission? Why are you in business? What is so important and so impactful that it compels you to get out of your comfort zone every day in order to make it happen? 3)  Given that you are clear on your vision and mission, what are some tangible objectives for your business? For example, you may want to establish a client base of 100 customers, or grow your annual revenue to $1.2M. 4)  What strategies will you use to meet those objectives? Will you reduce expenses? By how much? Will you train a sales team so they can go out there and drum up new business? What about creating brand awareness? How will you accomplish that? 5)  What are the steps to carry out your strategies? These tasks must have deadlines and a person responsible for them. Outline what exactly needs to get done and by when so that you know when you meet your milestones. 6)  How much money does your business need to start up? To break even? To reach a certain profit level? How much minimum does your business need to produce in order to meet your living expenses? At the very least, this is your baseline goal. 7)  If someone handed you a check for $1,000,000 to invest into your business, what would you do with it? Where would the money go? To training? New equipment? Brand new marketing plan? How will this investor recoup his money, and what would his Return on Investment (ROI) be? How can you ensure that ROI? This is all introspection. Notice I didn’t mention anything about who your target market is, or your competition, or the industry as a whole, etc. Stay tuned in this space because I’ll be talking more about your business planning in the coming weeks, especially as the end of the year draws to a close, and your new year begins. It’s time to create UNPRECEDENTED results in your business!

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