Thursday, November 12, 2009

How in the world can you do it all?

We've got less than a week to go... time is flying by. We're almost done with the vaccinations, although as Nikki alluded to, it's not been an easy time. I think that most of us are getting tired of taking malaria and typhoid pills, not to mention getting flu shots, tetanus shots, and hep A/B injections.

Today, the team sat in on a strategic planning session with one of my small business clients where we spent 2.5 hours facilitating a discussion for the business owners to tell us what is important for them to be working on. The objective of these sessions is to elicit goals that the company would like to meet: for example, marketing, managerial, financial, or procedural goals. Once the goals have been sketched out, the next step is to begin formulating strategies to help in meeting the goals. Every strategy has a tactic and actions that must be developed, budgeted for, and assigned to a specific person or group of people. This is quite a tedious process, but is important to identify the most pressing needs of the company.

What is sometime most overwhelming for an entrepreneur is to realize they need to spend more time working ON their business than IN their business! For instance, an interior designer may really love to do design work, but hate paperwork and record-keeping. Unfortunately the necessary evils of being in business (record-keeping, customer relations, reporting and paying taxes, etc.) require that an entreprenuer either develop systems or hire someone to handle these tasks for them. It's not enough to be a great designer, you have to wear many hats... and to be successful, you have to wear them well!

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