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1. Ask Customers What’s Important to THEM

Talk with your existing customers — don’t just assume. In today’s environment they may have totally changed priorities.
* Pick up the phone and call your customers – They’ll be delighted that you called!
* Do a customer survey – One of the unsung trends for small businesses is the entry into the market of easy to use, DIY survey tools, from Survey Monkey to QuestionPro.
* Implement one of the customer feedback services on your website – Get Satisfaction and similar apps are an easy way to “listen” to what customers think.
2. Be Strategic
Small businesses are notoriously thinly funded and thinly staffed (yes, I know all about that). Consequently, we business owners get into a habit of reacting. We spend much of our time putting out fires. Instead of guiding our businesses, they “happen to us.” Here’s what I am doing about that, this year:
3. Differentiate Your Business
Even if you are in an age-old industry, you can differentiate it. Zappo’s is in an old industry — selling shoes. Yet they manage to be different from the competition, starting with the memorable name, to their storied customer service and wide selection.


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Make every action create the business I want, not the business that happens — After doing some traditional strategic planning, (1) I wrote down my strategic objectives, and (2) I am visualizing my strategy in action. For me, the visualization part is crucial. I sit down in a quiet room with the door shut. I carefully visualize in my mind’s eye what my ideal business will look like. I even imagine my P&L, visualizing a number for my desired top line (sales) and bottom line (profit). It helps me focus on what I need to do and not get distracted.
* Set objectives with your employees – Earlier this year, I “sat down” with my people (OK, we did it through email), and set objectives together with them — objectives that align with the company’s goals. I have their objectives tacked to my bulletin board. I also encouraged them to print them out and post them on their own bulletin boards where they can see them to stay on track.

1. Ask Customers What’s Important to THEM
2. Be Strategic
3. Differentiate Your Business
4. Partner - where it makes sense

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As you develop your business plan, it's easy to make mistakes or leave out important elements.

1. Create a vision. It's tempting to roll up your sleeves and plunge right into the details of your business: evaluating products, studying market segments, and sizing up your competition
2. A budget isn't the same thing as a plan. You can't create a solid business plan without a budget and a financial forecast. But a budget should be the product of all the other elements in your plan. If you don't have a clear picture of your industry, customers, competitors, and market conditions before you develop a budget, your numbers aren't likely to reflect reality.
3. Don't ignore your customers. This may sound obvious, but too many entrepreneurs assume they know exactly what their customers need without bothering to ask. Take the time to learn about your customers, and build your business plan around their needs and desires.
4. Don't shortchange the competition. If you assume your firm will be the only game in town or if you fail to take existing competitors seriously, you're asking for trouble. Your competitors can be a great source of information about what works and what doesn't.
5. Be prepared to take risks. Creating a business plan isn't about avoiding risk; it's about understanding and managing risk. That's why a good business plan anticipates possible challenges and includes a variety of scenarios for meeting those challenges.

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