In the now-classic movie “Back to the Future,” Marty McFly finds himself in the past, spending time and energy doing all he can to ensure that he’ll have a future to get back to. The future can change, and with just one wrong course of action he could simply disappear! Business owners don’t generally like to look back, but doing so is necessary when serious progress is your goal. When you work with me, we’ll start with a deep dive into where you’ve been. I’ll then work with you to help you design an extensive plan for your future, with your business as the DeLorean that will get you there.
So how far ahead are you thinking? Are you ready for all the possibilities? If your focus is solely on your daily, monthly, quarterly or annual results, you need an experienced advisor to help you think bigger.
It’s time we get to work!
Fundamentals 3.0: Planning
Holistic Business Continuity
What is a holistic approach?
holistic– [hōˈlistik] (adjective)
A philosophy or approach characterized by comprehension of the parts of something as intimately interconnected and explicable only by reference to the whole.
Most of us have heard the term holistic used in reference to medicine, where the idea is that the body’s systems and processes shouldn’t be separated from each other when treating a problem. The approach dictates that doctors should get to know a patient as a “whole person” so they can thoroughly treat and effectively prevent medical conditions.
If you were planning for a healthy body and mind using a holistic approach, you’d consider not only exercise and diet, but you would also want to factor in other variables such as quality of life, the company you keep, your stress levels, and the extent to which you have control over your days.
How does this apply to business?
The human body has long been used as a metaphor for companies. Businesses and bodies share a make-up of numerous working parts and interconnected systems. From my perspective, really getting to know the workings of your company, along with its history, is the only way to begin a new plan, which is crucial to enhancing the value of your business.
If you work to improve the “health” of your company, desirable long-term outcomes will follow. If there is a specific issue with a department, process, or employee, chances are it’s also the cause or effect of a larger issue that needs to be addressed.
What is a holistic business contingency plan and why is it important?
“An ounce of prevention is worth more than a pound of cure.”
–Benjamin Franklin
A holistic business plan thoroughly utilizes contingency systems to bolster business immunity. It minimizes the risk of catastrophic failure from extended downtime. The focus isn’t so much on dealing with the aftermath of a disaster as it is about building resilience and tolerance.
Business contingency planning is important because you can’t achieve anything without a plan to work toward it. And you can’t get anywhere if you haven’t considered the obstacles you might encounter along the way. What direction are we going in? How are we going to get there? Do we have enough plutonium to power the DeLorean? Are we going the right speed?
This is just an overview of the basics. When you’re ready to talk, I’m ready to help.
“Roads? Where we’re going we don’t need roads.”
-Doc Emmett Brown, “Back to the Future”
Doc Brown might have been five years off, but he was completely right. 2020 is here, and we don’t need roads or planes — all we need is a steady internet connection. The tale of the road warrior has a different ending now. There’s no going back to the future that once was — the future is here, and it’s very different from how we left it.
– Mary Shea, Principal Analyst, Forrester
The pandemic has accelerated the destiny of all businesses. Essentially, businesses with poor strategy are now failing quicker. Businesses with good strategies will now see success sooner. I help businesses turn in response to crises and I help the owners create contingency plans for worst case scenarios. I help businesses implement those plans to perform higher in achieving their desired future. Planning is more important than ever.
Have you shifted into the next gear?
Drop me a line and let me know how the acceleration is treating you.
– Your friend, Chuck
ChuckM@EagleCorporateAdvisors.com
I bring truth to business owners. They need to understand the real value of their business. I dig deep in the valuation process, gaining a thorough understanding of operations and the owners’ goals. I mentor business owners in building transferable value, whether the potential sale is six months or sixteen years in the future.
Seek expertise. Reap long term benefits.