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The Free Financial Advisor

You are here: Home / Banking / Own a Business? Think About Your Plan

Own a Business? Think About Your Plan

August 8, 2013 by Average Joe 9 Comments

Hey, everyone! I’m back here….it appears OG and I are going to write at FFA once per week. My posts here will be more structured and on-task than my writing at Stacking Benjamins. If you’re looking for more humorous writing, find me there……

 

I just got off the phone with my coach. We have a session three times per month and they’re a powerful use of time. Not only do we focus on business, but on the balance between my business, personal and spiritual life.

This month we’ve begun digging deep. Here’s what we’re working through:

1)   I’ve listed all of my important strategic priorities for the fall.

If I don’t prioritize what’s important to me right now, I find that it gets lost in the shuffle. It’s better to plan my fall now to make sure that those events that are important to my business and family all make the cut.

2)   I took out the calendar and planned my model week. This also included making sure I block out time for family and friends. I don’t want to get buried in my work and forget my priorities.

For me, the Apple calendar works best because I use mostly Apple products. However, you should do something similar and find a good  calendar that will automatically sync with all your devices. That way, whenever you remember something that needs to be added to a calendar, you don’t have to worry about being at your desk.

3)   I reviewed my business accounts. Because I’m starting to build up some money in my business accounts that I’ll be spending later in the year, I’m interested in business savings. By setting up separate accounts, I can make sure my “buckets of money” for different projects don’t inadvertently get spent on other, less important pursuits.

4)   I scheduled creativity.  This is an important one for me. To write entertaining pieces and fun podcasts takes a ton of creative “juice.” Studies have shown that a neatly sewn calendar actually decreases creativity. I’ve scheduled time to read (called R&D) and time to play games with friends. I also schedule time to listen to other podcasts and read other blogs.

5)   I created automation whenever possible. If I could automate it, I’ve scheduled ways to get it done. Much of my twitter and Facebook posting can be prescheduled. Because I’ve found a bank that offers free business banking, I’ve automated much of my financial tasks. Anyone helping me on the back end of the site is given tasks each Monday so that I’m able to concentrate on the reader experience.

 

That’s what I’m doing to plan for the fall. How about you?

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Filed Under: Banking, money management Tagged With: Business, business planning, Calendar, Facebook, Time management

Comments

  1. Todd @ AllThingsFinance.net says

    August 8, 2013 at 11:08 am

    Hmmm I haven’t yet thought about business savings accounts, we’re not that big yet, but hopefully will be in just a few months. Thanks for bringing this up Joe!!

    Bro, I wish we had done a Wolverine podcast!!

    Reply
    • Average Joe says

      August 13, 2013 at 6:40 pm

      Ha! I saw the movie. If you’ve got something on it, bring it on. You could even do the review of it, if you’d like. Shoot me a message if you want to do it.

      Reply
  2. Pauline says

    August 8, 2013 at 1:15 pm

    I can clearly see the difference when I plan and don’t plan, but at heart enjoy going with the flow. Planning has cost me too, when plans change and you have paid for services or booked a flight you don’t need anymore.

    Reply
    • Average Joe says

      August 13, 2013 at 6:14 pm

      I’ll agree that overplanning can kill spontaneity, but in general, I’d rather run my business by planning than by winging it.

      Reply
  3. Peter @ financecareguide says

    August 9, 2013 at 2:51 am

    I am not agree with Pauline. Planning really help a lot to save extra bucks. In fact with a proper planning you can regulate your spending to increase your savings

    Reply
  4. Alberny Johny says

    August 14, 2013 at 8:53 am

    I am also agree with Peter. Planning is always help us to saving money.

    Reply
  5. Finance Care Services says

    March 16, 2017 at 7:13 am

    Executive summary is a photocopy of your business plan as a whole on your business profile and goals – strong determination can achieve that goal and save your time and money.

    Reply

Trackbacks

  1. Encapsulate your Business Plan in a Single Paragraph | The Free Financial Advisor says:
    March 11, 2014 at 10:14 am

    […] possible investors, from your market research to your future plans. You also want to look at it as the template that your business is going to follow into the future. It’s a promise to yourself to reach your goals. However, realistically […]

    Reply
  2. A Four-Step Approach to Breathing Life into the Financial Side of Your Business Plan | The Free Financial Advisor says:
    April 11, 2014 at 7:41 am

    […] When you search for investment opportunities that are offered by venture capitalists, clever investors or even intelligent friends and relatives, you are going to need to be able to show them this financial reflection and projection. At the other side of the spectrum is the need to benefit from this financial forecast for your own personal and professional needs and expectations. […]

    Reply

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