Category Archives: Business Planning

Your Budget: A Roadmap for the Year

by Kelly Deis of SoundPoint Consulting

It’s that time of year again. Most businesses are on a fiscal year which coincides with the calendar year. It is time to look back and reflect on 2017 as well as look forward and create a budget for 2018.

A budget is a roadmap. Based on where you have been, it can help guide you to the desired final destination for year-end.

If you stay on the current course – where will you end up? Alternatively, if you change the route – where will you be at the end of the year? It is up to you to decide which path is the most profitable and most likely to be achieved.

Here are a few things to think about as you prepare your budget.  Continue reading

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Ask SCORE: Would your hobby make a sustainable business?

Running a successful business centered on doing something you love is the dream of many entrepreneurs. What could be more gratifying than making a living sharing your talents and skills with others?

On the Internet, you’ll find a long list of articles and resources offering advice and insight specifically geared toward hobbyists who want to take the step and go from “passion” to “profit.”   Continue reading

How to retire from your own business.

by Kelly Deis of SoundPoint Consulting

You started your business 10, 20 or even 30 years ago. It has been good to you. You’ve built it from infancy, fed it, grew it and, in turn it has provided you a comfortable lifestyle.

But, you’re done, or you want to be done. You are ready for the good life that retirement promises. But there is only one catch – there is no playbook for retiring from your own business.  Continue reading

Every business deserves planning.

Don’t make the all-too-common mistake of dismissing the value of planning for your business. Every well-run business needs to manage strategy, tactics, milestones, metrics and essential business numbers.

Do it right, and planning is easy to do, great for managing and developing accountability.

Remember these two key points:

  1. Good planning doesn’t require a big, formal, traditional business plan document. A lean business plan is much easier than a traditional plan. It just consists of bullet-point lists and tables. You can do it yourself.
  2. What really makes the difference is keeping the plan live. It doesn’t take more than an hour or two per month. The planning process means you track results, review, and revise often enough to keep your plan fresh.

Continue reading