Scotch O Clock Episode 59 – Discussing Discussing the Importance of Planning in Entrepreneurship!
Welcome to Episode 59! In this episode we talk about the importance of planning in business, whether it be short, mid or long term. Where most business fail and essentially ‘stunt’ their own growth is by failing to understand the additional attention requirements in a growing business.
As business grow and flourish the requirment to keep them on the right track becomes far great. The example we use in the episode is relasted to watching the numbers and the increased effect small changes have on a larger business. For example, when your business is new 1% – 2% in one particular area may not have a massive effect, however, as you grow an 1% starts to reflect perhaps $10,000.00 or $100,000.00 the attention paid to the key areas in your business needs to be drastically increased.
After paying attention correctly as we menioned above, you then need to put a plan in place as to how you’re going to make a positive impact on those particular numbers over the coming months and years. Then a plan needs to be put in place regarding what you’re going to do with the freed up profit and resulting cash flow from those changes.
If you fail to plan then plan to fail!
P.S The Whiskey was absolutely delicious!
P. P. S IF YOU HAVEN’T GOT TIME TO SIT AND WATCH THE VIDEO YOU CAN NOW GET THE AUDIO ON: –
ITUNES – https://itunes.apple.com/au/podcast/scotch-oclock/id1377530556 or just Search ‘Scotch O’Clock’ on iTunes!
PODBEAN – https://alderton.podbean.com/
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SPOTIFY – COMING SOON
Featured Whiskey: BenRiach Limited Release 2005 Peated/Port Cask
Topic Covered: The Importance of Planning in Entrepreneurship
We Hope you enjoy this Episode guys and remember to please comment and share this video to help those in business.