Jack Gottlieb, President of the Total Solutions Group, Inc., recently held part two of his interactive and inspirational business seminar series to help attendees put their business ideas on paper and start thinking about the long-term goals they have not only for their businesses, but for themselves. Jack further explained the importance of identifying your business values and goals as well as how you can start digging deeper into the logistics and analytics of your company. It is important to look at the big picture of where money is going, what is profitable and what isn’t – is key in the success of your business.
Check out some of the important information that was covered during the business financial planning and budgeting session of this series:
- It is imperative that you answer the following questions in order to understand the core of your business. So grab a piece of paper and put your thinking cap on:
- What is the value you want to create and how are you going to create it?
- What are your needs vs. your wants?
- Where is your money coming from and who will make that decision?
- How are you best utilizing your money?
- What is your business really about and do you know if you are succeeding?
- What you insanely passionate about when it comes to your company?
- What does your business all boil down to? Where is it going and where do you want it to go?
- Don’t just look at the numbers, look beneath them to see what they mean for your business. Numbers aren’t only associated with money, they mean much more – i.e. customers, sales, marketing, engagement, time, etc.
- Be SMART when it comes to setting goals: Specific Measure Attainable Relevant Time-Bound
- There are 5 Cornerstones to every business:
- 1. Living your core
- 2. Being relevant
- 3. Being sustainable
- 4. Being replicable
- 5. Being scalable
- Ask yourself, “What is the REALLY most important goal I’d like to achieve by the end of 2014?”
- 9 Core Areas of your plan:
- You can learn more about a business from what it spends money on, not how much it makes. Great businesses don’t work for money, they have their money working for them. Funding our business and life is the main purpose of money.
- It’s not about the budget, it’s about the value that money can bring vs. how much it will cost. If it’s worth doing it’s worth measuring!
- The 5 Levels of Change:
- 1. Lack of Understanding
- 2. Creates Uncertainty
- 3. Leading to Perception
- 4. Shift in Behavior
- 5. Performance
Ultimately, in order to truly succeed in business you need to find bigger problems to solve. It’s about making better decisions and mastering your capabilities, not about making money.
Jack Gottlieb is the President of The Total Solutions Group, Inc. a strategic consulting, training and coaching firm committed to driving a sustainable increase to an organization’s results, value proposition and culture. Jack brings 14 years of proven high level success along with the collective capability of his team and advisory board. Jack has also been one of the highest ranked speakers at various state wide SHRM (Society of Human Resource Managers) Annual Conferences as well as the New Jersey Organizational Development Annual Conferences for the past 7 years. Jack also serves on the Executive Board Collegiate Empowerment which is an educational firm committed to driving systemic change and impact for Colleges and Universities. Jack also is actively involved with two universities. The first is Kutztown University where he is one of the key leaders of the College of Business Advisory Board to support their efforts in further development and expansion. The second is with Rider University with their Center for the Development of Leadership Skills.