Are you running your business, or is your business running you?

When was the last time that you could take a vacation, turn your cell phone off, and not have to check your e-mail every two hours? Do you wake up at night only to remember tasks that needed to be completed or a client request that you forgot to delegate? Have you had to cancel family plans to meet the demands of your business? Are you running your business or is your business running you?

We like to think we are in control of our businesses, but in most instances the business is running the entrepreneur’s life. Without realizing it, our businesses are dictating terms and controlling our lives and, unless we make the necessary changes, it will continue until we attempt to sell or go out of business.

When I ask my clients if they have a business plan, a PR plan or a budget plan, I frequently get the same response, “Nope, I just work off last year’s numbers and try to improve.” I have found that 90% of businesses do not have a formal plan. This is a recipe for disaster. They somehow make it from year to year, but that’s the problem ... they just make it. When times get hard—a recession hits or gas prices increase—these are the businesses that go under.

According to the SBA, only 50% of new small businesses survive the first year and only 11% survive five or more years. The main reasons for business failure are as follows:

1. Management inefficiency and lack of experience by the owner

2. No business plan 3. Insufficient capital 4. Failure to define and understand your market 5. Failure to anticipate or react to competition, technology, or

changes in the marketplace using new PR, web design, and

advertising 6.Poor business location, poor customer service, improper

pricing 7.Owners sole dependence on self/ not seeking professional

assistance 8. Overexpansion

The number one reason why businesses succeed or fail is because the business owner did not take the time to conduct a feasibility analysis, market plan, and business plan.

So what is the remedy for removing this conundrum?

Success Public Relations: Keys to Success!

We can work with you to achieve your business goals. Whether you are just starting your business, or are looking to finally manage your business instead of it running you.

Success PR will:

1. Prepare professional business analysis 2. Design professional public relations plan to include:

a. Business plan b. Market plan c. Advertising plan

3.Review management criteria and advise on needs analysis 4.Design website 5.Refer to professional legal, payroll, and CPA firms for

advisement on form of business, contracts, and business

and tax evaluation 6.Prepare five-year plan for business profitability 7.Establish procedures and management manual

Once you have established your Success PR plan, you will be able to manage your business effectively and efficiently.

By Tom Cronin