Business Planning for Contractors leading into the winter - Part 2

Posted 11/17/2013

In any well managed company, time is set aside for business planning in November, December and January. This is when the Principal/Owner of the company leads the planning by addressing issues they are facing to better position their chances in the following twelve months to get more work. It is not a task done independently, but with the core management team (administration, marketing, estimating, operations, business development, etc.) where everyone has input. As a consequence, when you participate in the planning process, you also take ownership of the plan.
It has been proven over-and-over again if you participate in the business planning process, the implementation of the plan is much easier. Each plan should have a section where goals and objectives are identified along with tactics to accomplish that goal, as well as a timeline for completion. Then someone is assigned to manage that goal. This doesn’t mean in every case that that person does the work, it means that the person uses the firms internal and external resources to make sure it happens.
For example, if one of the issues the company is facing is a need for regular press releases, then someone is assigned to figure out how to get the releases started and done on a regular basis. Again, the important point here is that a business plan is a management tool, not a report.
Ron McKenzie of COMPASS Consultants Corporation.

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