BUSINESS and more
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BUSINESS and more
Ideas, tools & reflections for managers, leaders and business owners. -- Keep in touch: http://www.xeeme.com/MartinGysler
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Are You Irreplaceable?

Are You Irreplaceable? | BUSINESS and more | Scoop.it

The second year of running your company is notoriously tough, but for business owner Chris Ashton, the ground was cut out from under his feet--literally. Ashton, 38, began his second year as co-founder of Petplan Pet Insurance with a fall from the second floor ledge of his New Jersey home, suffering injuries that kept him out of the office for five months. Suddenly, Ashton had to face the question many entrepreneurs fear: Can my business run without me?


Making sure your company can operate in your absence should be a basic element of business planning, but many entrepreneurs don't consider the possibility until it's too late, says William Rothwell, author of the book "Effective Succession Planning" and president of Rothwell & Associates, a State College, Pennsylvania-based consulting firm. "We tend not to want to think about terrible things like our own death or disability," says Rothwell. "Planning for short-term and long-term replacements is key."...

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Creating a Business Plan

Creating a Business Plan | BUSINESS and more | Scoop.it

It’s true that you don’t need to create a formal business plan in order to start a business. You can kickstart a business very quickly without having to plan out every detail in advance.

 

That said, there can be tremendous value in planning. Thinking through a business in advance is hard work and requires deep concentration (if you want to do it well), but the payoff is a significant increase in clarity and a better shot at creating or expanding a successful enterprise.

 

I spent most of last week creating a new long-term plan for my business, which I just completed on Friday. I hadn’t done anything this thorough since 2005. It was incredibly tough mental work, and I put in many 12-16 hour days in a row, sometimes working so hard that I literally fell asleep at my desk. Then I’d wake up and work on it some more...

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