Business Plan - Understand You in Your Business

Hi, and thanks for joining me on my business planning publications.

This is the second of 10 in this series and is aimed at anyone needing to write a business plan, perhaps for the first time.

How do you feel about the challenges you face each day. How many of those challenges do you feel equipped to deal with?

You might say, well I do understand me in my business, but do you really? I would suggest that there are often disconnects between you, your character and that of your business. This is quite common.

Business skills exist at two levels, technical and personal or behavioural (sometimes referred to as soft skills).

• Technical – these are all the skills required to run a business like industry specific skills (plumbing, welding, painting, printing etc.), IT skills, book keeping, HR and sales and marketing etc. 

• Behavioural – your values and beliefs, the things that tend to dictate your core behaviours.

Technical Skills

I would like you to take a moment to write down your skills and experience. Go for it, capture all of it from your first job to your last job, what have you been good at. Score yourself (6 is good and 1 is poor).

Now write down all of the skills needed to run your business. Again, think broadly, think about now and in the next 12 months.

For example, these skills might include: -

• Good communication skills

• Good with people

• Enjoy working on your own

• Good with paperwork and systems

• Good with figures and finance systems

• Broad understanding of sales and marketing techniques

• etc.

Now take this list, and score how important each skill is to the business (6 crucial and 1 is nice to have).

Now score how good you are at applying this skill, from your skills list (1 is poor and 6 is competent).

OK, if there is a mismatch, then you need to consider how you are going to acquire the skills (you can train or get someone else to help).

See the following example:

Now, be honest with yourself, how have you scored on the crucial skills, are they all 6’s? I’d be surprised if they were.

Behavioural Skills

Finally, referring to the “behavioural” values and beliefs, check if they are aligned to your business behaviours. What in your business will you always do, sometimes do or never do?

Example:

Also look to see if the business behaviours are a good fit with your own values and beliefs. If not what are you going to do to redress the situation?

In business, it is easy to get bogged down with every day challenges, but to be able to enjoy what you do and not experience unnecessary stress, make sure your business reflects what you can do every day with relative ease.

It is important to keep on top of your “things to do” so make sure you include a target completion date. You can download a free template by clicking the (Business Skills Review Template) button at the end of this blog.

The purpose of this activity is to ensure that whist you are striving to develop your business, you don’t forget your own personal development. You may not be able to do everything, that’s OK. If one of your weaker skills is say book keeping or finance, that’s OK. Get a book keeper involved with your business.

Most small businesses involve other skilled and experienced people as part of their team. Things like web site development, book keeping, marketing and IT are often supported by other team members outside of the day to day business.

This team approach is important. Think about who you have in your team, the business team may include: -

• Your bank manager

• Your landlord

• Your business network group

• Your book keeper/accountant

• Marketing specialist

• Printer

• Your suppliers

• Your family and friends

• Your customers

All of these can make a valuable contribution to your business.

Graham Cripps

Results Consortium Ltd

www.resultsresults.co.uk