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Tag: Business Plan

  • The Penny Shortage Is Adding Up Frustration Among Small Retailers

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    Consumers may want to avoid offering retailers a penny for their thoughts from now on. What they could get for their cent is a blast of complaints from many businesses owners now struggling with premature shortages of the soon-to-vanish copper coin. That’s in turn creating awkward moments at the checkout stand, and requiring improvised solutions when making correct change for customers isn’t possible.

    The small coin conundrum is the result of President Donald Trump’s February decision to order “my Secretary of the U.S. Treasury to stop producing new pennies.” The move followed the Department of Government Efficiency first putting the penny in its sights, when its founder and leader at the time, Elon Musk, explained the lowest valued coin “costs over 3 cents to make and cost U.S. taxpayers over $179 million in FY2023.” With arguably more of the coppery orbs filling jars, car ashtrays, and spaces between sofa cushions than used in payments, Trump decided to halt minting of the coin and allow it to gradually disappear from circulation.

    So, why are retailers reacting now? Because a growing number of those businesses report they’re already coming up short on pennies when trying to make exact change for customers. That’s occurring as several centers that distribute the coins for the Federal Reserve Bank have stopped making deliveries. They‘re also slated to halt minting any new metallic portraits of Abraham Lincoln next year, when their use is expected to slowly taper off.

    For reasons that aren’t entirely clear, that gradual count down on the penny’s active service has already resulted in a shortage at many shops, restaurants, and chain stores — months earlier than anyone had expected. As a result, business owners are having to come up with workarounds when they can’t give customers the change they’re owed.

    According to several press reports, that forced Wisconsin-based convenience store chain Kwik Trip to start rounding cash purchases down to the nearest nickel. Rival Love’s Travel Stops are reportedly also rounding sales, but instead upward to the next five-cent level.

    Family-owned convenience chain Sheetz is taking another tack. It’s urging customers to come in and offer up their extra pennies in exchange for a donation to charity in their name. Sheetz partners with the Salvation Army to provide children with clothes, toys, and holiday parties.

    “Customers can also choose to trade in their extra pennies for a free self-serve drink or donate their spare pennies to support Sheetz For the Kidz,” Sheetz public affairs manager Nick Ruffner told the Nexstar news group. “Sheetz Donations can be processed through the register at all Sheetz locations to ensure all funds go directly to Sheetz For the Kidz, and the coins will then be recirculated for other customers.”

    Meanwhile, Sheetz and other retailers that are suffering penny shortages — and cringey moments having to explain their workaround solutions to customers — are urging clients to pay with cards or phone apps instead of cash. But the cent-less dilemma is spreading quickly enough to other businesses that their trade organizations are taking action.

    In September, NACS retailer group — whose members include the National Association of Convenience Stores and the National Grocers Association — did something rarely seen in the private sector. It asked the government to come up with regulations — this time for companies dealing with the penny’s spreading shortage, and eventual demise.

    “NACS has raised industry concerns with Congress and the Administration and is advocating for federal legislation to permit the rounding of cash transactions,” Anna Ready Blom, NACS strategic advisor of government relations said in a recent article on the organization’s site. “Businesses are desperate for Congress to address this issue by passing a law allowing them to round to the nearest nickel. Without federal legislation, businesses are left in the impossible position of trying to figure out what to do and at risk of being out of compliance with other laws.”

    The reason for the concern is that many states and localities have their own laws that prohibit rounding in cash transactions. As a result, NACS is urging the government to pass federal statutes to permit that solution when pennies run short, and define exactly how rounding should be carried out.

    If that happens, it should protect retailers from any potential legal pushback from consumers seeing their $5.63 purchase rounded up to $5.65. But it won’t spare cashiers the embarrassment while explaining to customers that they can’t make exact change, or prevent them from disappointing young clients who wanted an increasingly rare penny for the one cent gum machine.

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    Bruce Crumley

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  • How a 1-Word Business Plan Can Transform Your Company | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Entrepreneurs live in a world of high-stakes decisions and constant motion. Every day, you are bombarded with problems to solve, opportunities to seize and teams to lead. Through the chaos, it’s easy to feel overwhelmed and mentally drained. No matter how much gets done, your list continues to grow.

    In an attempt to gain control, entrepreneurs spend countless hours attempting to craft the perfect business plan. While most of these business plans are an impressive compilation of detailed objectives, progress trackers and PowerPoint slides, they often end up collecting dust.

    The challenge is that most plans are unnecessarily complex, which makes them difficult to execute. Instead, entrepreneurs can simplify this process by focusing their entire business vision on a single, powerful one-word theme for the year. This one-word business plan then acts as a strategic compass as opposed to a rigid map. Focusing on your one word will help the team stay aligned throughout the year and guide every action.

    Related: 5 Ways to Simplify Your Business Plan and Almost Anything Else

    1. Reflect on your past 12 months

    Before you can chart a course for the next 12 months, it’s important to reflect on where you’ve been (and no, this doesn’t have to be at the start of a new calendar year). Schedule time to review the past 12 months, and start by listing your biggest wins, proudest achievements, what worked well and what didn’t. By being brutally honest about your past performance, you can lay the foundation for exploring potential opportunities, challenges and changes you want to focus on going forward.

    2. Identify new opportunities

    Beyond looking inside your organization, it’s important to take a look outward for new opportunities. Are there any trends that you haven’t capitalized on yet? Are there new markets or revenue streams that are untapped? A good way to identify these opportunities is to stay current by participating in industry events, reading relevant industry publications and networking.

    Look for opportunities that involve new technologies, changing consumer behaviors and an evolving competitive landscape. Once you have a list of these new opportunities, you can identify which ones align with the strengths of your business and team, especially those that your competitors would struggle to replicate.

    3. Pinpoint your biggest challenges

    The next step is to turn your attention to what’s holding you back. Internal challenges might include gaps like outdated software, inefficient team processes or a lack of clear communication. External challenges could include supplier availability, growing competitor market share or changes in laws or regulatory requirements.

    Entrepreneurs often have blind spots when it comes to identifying challenges in their business, so this is a good opportunity to gather feedback directly from your team. An outside perspective from a professional business coach or consultant can also be incredibly valuable.

    Related: The Inevitable Challenges You’ll Face as Your Business Grows — and How to Handle Them

    4. Craft your future vision

    If you could wave a magic wand, where would your business be a year from now? As you craft this vision, consider all of the elements that you have evaluated up to this point. Think about what challenges you look to overcome and what opportunities you plan to seize.

    A good practice is to write this vision in the present tense. For example, “my business has doubled its sales” or “I’ve created processes for my team that allow me to have a better work-life balance.” Writing in the present tense can help you envision how your future will feel and boost your excitement and motivation.

    5. Brainstorm and choose your word

    This is the creative heart of the process. Start by brainstorming a list of words associated with your vision. The key is to not censor yourself. Embrace the process and write down every word that comes to mind.

    Once you have a list of a few dozen words, start eliminating them one at a time until you’ve found the one that aligns best with your vision. For example, a pest control company that wants to streamline its operation to reduce costs, improve customer response times and boost productivity might focus on the word “Processes.” A marketing agency that feels it has lost its creative edge might choose the word “Authenticity” to guide its campaign development.

    If you don’t find a word that resonates with you deeply, don’t be afraid to scrap the list and try again. It’s important to get this right.

    Related: How to Use Your Business Plan Most Effectively

    6. Make it actionable and engage the team

    Now that you have your chosen word, it’s time to let it drive your actions. The first step is to translate your word into concrete initiatives. Start by building a mind map of projects, changes and opportunities that support it.

    For the pest control company I coach, focusing on “Processes” might mean a goal of streamlining a key process by 25%. For the marketing agency I coach, “Authenticity” might lead to a new policy to only work with brands that share their values. Ultimately, your word should be the primary filter for all decisions throughout the year.

    Of course, the most powerful vision is a shared one. Your chosen word will only be effective if your entire team understands it. Take the time to communicate your word clearly and explain the vision behind it. Tell them the story of how you chose it and show them how their individual roles and tasks contribute to the larger theme. When your team is truly aligned, they can make decisions with confidence, solve problems more efficiently and work as a cohesive unit toward a common goal.

    Embracing the one-word business plan can be an exciting new approach to leadership. It’s all about doing more of what matters most and trading complexity for clarity. By distilling your vision into a single, powerful word, you can transform your business, empower your team and ensure that every choice you make moves you in exactly the right direction.

    Entrepreneurs live in a world of high-stakes decisions and constant motion. Every day, you are bombarded with problems to solve, opportunities to seize and teams to lead. Through the chaos, it’s easy to feel overwhelmed and mentally drained. No matter how much gets done, your list continues to grow.

    In an attempt to gain control, entrepreneurs spend countless hours attempting to craft the perfect business plan. While most of these business plans are an impressive compilation of detailed objectives, progress trackers and PowerPoint slides, they often end up collecting dust.

    The challenge is that most plans are unnecessarily complex, which makes them difficult to execute. Instead, entrepreneurs can simplify this process by focusing their entire business vision on a single, powerful one-word theme for the year. This one-word business plan then acts as a strategic compass as opposed to a rigid map. Focusing on your one word will help the team stay aligned throughout the year and guide every action.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Nicholas Leighton

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  • How To Create Your Best Investor Deck

    How To Create Your Best Investor Deck

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    Once you’ve found a property and have a vision for how you could add value to it, you’ll need to present your case to potential investors. If you’re working with a partner for this step, you’ll both be reaching out to a network that likely consists of family and friends. Ideally, you’ll have started sharing your investment activity with them already and have an idea of what you’ll need in terms of funding.

    The capital stack for a real estate investment typically has layers of equity and debt, which I’ve discussed previously. In this piece, we’ll look at how to build an investor deck to present your project to accredited investors (learn more about accredited investors in my previous article on crowdfunding). This commonly consists of a Power Point presentation that outlines the main objectives and return for investors.

    Keep in mind that you’ll also want to be working with an attorney at this point to make sure you’re abiding by the SEC guidelines, which are by nature complex and will require legal counsel. (Reaching out to a mortgage broker, which I covered previously, is also essential for evaluating your financing options.)

    Present the Business Plan

    What is the opportunity for investors? What type of return can they expect? What sets your concept apart from others, and why should they opt in? The business plan should answer all these questions and share additional details about the project.

    Your title slide may include a picture of the property and information about its location and cost. Following this, an executive summary can be used to share an overview of the property, including key figures and selling points. The next slides can proceed to share your plans to improve the property, which might involve renovations and repositioning it in the market. You’ll want to present timelines and costs for the project, along with additional pictures.

    As you put together the presentation, remember that investors are typically busy and may only spend a few minutes glancing at the slides. Given this, make sure the facts are presented as clearly and concisely as possible. If you share some of the risks and your plans to mitigate them, it shows investors that you have carried out research and are taking measures to avoid pitfalls.

    Show the Right Comps

    Help investors see that you have a grasp on the market by studying properties that have sold in the past. There are several sales comps that can be especially applicable. These include price per square foot, which can be found by taking the price of the property and dividing it by the square footage. For multifamily assets, you can calculate the price per unit by taking the sales price and dividing it by the number of units. The cap rate can be found by dividing the net operating income of the property by its sales price. Also be aware of the conditions of the property at the time of sale, such as if it needed substantial renovations or if it was ready for tenants.

    As you review sales comps, keep in mind that they serve as a rearview mirror. In commercial real estate, the sales that are reported often reflect a transaction that was negotiated six months prior. The buyer and seller may first negotiate the contract, and that can take several weeks. After signing that agreement, 60 or 90 days may go by before closing. A sale could be reported a month after that.

    Include the Sponsor’s Track Record

    Here is your chance to share information about previous transactions and investments. If you’re new to investing and are working with an experienced partner, you could highlight some of their accomplishments. You’ll want to inform investors about the deal team, and who will be managing the day-to-day operations of the property.

    If you are personally investing in the deal, this can help assure investors of your commitment. When I interviewed Wendy Berger, principal of WBS Equities, LLC, on my podcast “The Insider’s Edge to Real Estate Investing,” she shared how she contributes alongside her pool of investors for real estate deals. She also keeps terms simple to make returns easy for everyone involved. You might also consider following up with a phone call after you share the investor deck. Let investors know you’re open to answering their questions and discussing the deal with them further.

    Make the Case for the Location

    This is your opportunity to share important statistics about the market and submarket. Help investors understand if the population is growing, what type of employment is in the area, which industries operate there, and why you chose the location. Also include plans for marketing and attracting tenants, along with any current leases or secured tenants.

    Working with a leasing broker can help you get a sense of rent prices in the area, and in your investor deck you can present data to support your cash flow projections. Having a pulse of the neighborhood is essential, as you’ll want to assure investors that you understand the trends impacting the region.

    In today’s market, amid interest rate and economic fluctuations, investors will likely be looking for credible, qualified sponsors and a well-researched business plan in an attractive location. Due to the challenging lending market, you may need to bring more equity to the table for a transaction. If you can present a solid case to investors, you could be on your way to raising the capital you need and building a long-term portfolio.

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    James Nelson, Contributor

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  • Select Board hosts marijuana hearings | News – Medical Marijuana Program Connection

    Select Board hosts marijuana hearings | News – Medical Marijuana Program Connection

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    TEWKSBURY — On June 12, the Tewksbury Select Board kicked off the first of three nights of hearings to review adult retail marijuana license applications for several companies vying for one of the town’s three retail marijuana licenses and a host community agreement with the town.

    “The issue here is about the qualifications and the background of each of the applicants,” said chair Todd Johnson.

    Sundaze, owned by Brad Tosto, Peter Wilson, and Stephen Doherty, presented a proposal for 2504 Main St. in the South Village Dis­trict. The applicant highlighted their experience in business operations, financial accounting, and regulatory compliance. The company held community outreach meetings in late 2022.

    The company submitted a business plan to the board, outlining its mission and community en­gagement strategy. The proponents highlighted plans to hire local employees and create an elegant storefront, along with a security and diversion plan that calls for a full-time security director. Tosto noted that the town has been trying to fill va­cant storefronts. A traffic study found no significant impacts for the location.

    Lazy River Products, owned by William Casso­tis, Mark Leal, and Kevin Platt, presented a proposal for 553 Main St. in the Ocean State Job Lot plaza. The company held a community outreach meeting in fall of 2022.

    The company…

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    MMP News Author

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  • Real Estate Investing: How To Find A Partner For Your Business Plan

    Real Estate Investing: How To Find A Partner For Your Business Plan

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    If you know what type of asset class you want to invest in and have found an opportunity, you’ll want to put together a business plan. This can include where the property is located, how you plan to improve it, and details related to the project. Once you have formulated the business plan, you might consider bringing in a partner—especially if you don’t have experience in real estate investing.

    Since commercial properties typically have starting prices in the millions of dollars, new investors frequently struggle to gather the needed capital to make an acquisition. Rather than trying to figure it out alone, bringing on a great partner can help resolve these initial funding obstacles. If you connect with someone who has a track record of accomplishments and relationships with investors and lenders, it could be the perfect way to step into the game. Moreover, you’ll benefit from their experience and can pick up insight as you go through the investment process.

    Use these guidelines as you search for a partner who can help you break in and achieve more in the commercial real estate space.

    Research Noteworthy Players

    Look to see which investors, operators, and developers are actively carrying out projects that are similar to yours. Check online, read trade publications, and review what’s trading. Make a note of anyone you see who is already doing the type of project you want to emulate.

    Oftentimes an established professional who is doing a larger project might be interested in the idea of bringing on a junior partner to do the day-to-day business on smaller deals. Suppose you’re looking to convert mixed use properties in Brooklyn. Maybe you’re considering a 10-unit multifamily with a store. There could be a developer who is doing a project involving 100 units with five stores. You could ask if they would consider partnering with you for a smaller arrangement. Offer to take care of the daily tasks and help with what’s needed.

    Leverage Your Deal Team

    Reach out to professionals you’ve worked with, including your attorney, mortgage broker, and investment sales broker. Tell them you’re looking for a partner for a potential project. Check if they have other clients or know developers who might be interested in hearing about your business plan. Your deal team could provide the inner track to get you connected with the right person.

    Get Involved in Organizations

    Many cities have real estate associations—check your area to see what’s available at a local level. Look for national organizations and tap resources like Bisnow to see how you can connect. I helped found the Colgate Real Estate Council at my alma mater as a place where alumni, students, parents, faculty, and staff can connect with others in the real estate industry. Check alumni groups from your years of education, as they may open doors and lead to potential partners. Also review your social media channels and groups—sites like LinkedIn can be a powerful tool. Start following influencers who share information and updates on commercial real estate in your area; also reach out to others who share your same interests.

    Vet Real Estate Professionals

    As you evaluate a potential partner, follow up on references they provide. Then go a step further and research their background and transactions. Find the lenders and brokers they worked with in the past and ask questions to see what they were like when doing business. Keep in mind that not every transaction has optimal results. Sometimes it’s equally as important to see how someone acted when things didn’t go as planned. Integrity goes a long way in this space, and you’ll want to work with others who have a stellar reputation (which will help you as you build your own too!).

    Meet in Person

    While it’s easy to connect digitally today, there’s really no substitute for meeting someone in person and getting a feel for them. You’ll be able to identify what their values are and how they will act as a partner. You want to understand their traits and skills so you know exactly who you’ll be working with as you go into a deal. While expertise and a history of high-performing projects plays a role, the way they achieved their success is far more important.

    When I started in real estate, I built a couple of strong relationships that have lasted for decades. In fact, throughout my 25-year career I have relied on these personal connections, as they have led to some of the best long-term deals that have outperformed the market. As you move ahead, choose a partner wisely—if done well, you can create a working relationship that is maintained in deal after deal.

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    James Nelson, Contributor

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  • How to Write a Business Plan for Your Franchise | Entrepreneur

    How to Write a Business Plan for Your Franchise | Entrepreneur

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    You’re set on becoming a franchisee. You may think it’s time to call a franchisor, tell them you’re interested, and get funding from your local bank, right? Wrong.

    If you’re considering buying a franchise, you’ll need to write a thorough business plan before moving forward.

    A business plan is a detailed document that describes how your business will achieve its goals. Consider it an essential tool for any business owner — including franchisees!

    Sound daunting? It can be. But it’s a crucial and necessary step in starting your own business. Plus, becoming a franchisee means that the franchisor will provide some of the strategies, plans and overall business information, with some minor tweaks for your specific market.

    Here’s how to get started.

    Related: Considering franchise ownership? Get started now and take this quiz to find your personalized list of franchises that match your lifestyle, interests and budget.

    Start with comprehensive research

    Before you can begin writing your franchise business plan, you need to gather information about your franchise business. Research the industry, market trends and competitors in the area. You should utilize a SWOT (strengths, weaknesses, opportunities, and threats) analysis of the business, as well.

    Next, research the franchisor’s history, vision, mission and values. This will help you understand the franchisor’s expectations and see if your goals align with the brand. You may have already done a lot of this research when narrowing down your franchise choices.

    Related: The 4 Biggest Myths About Franchising

    Define your business concept and target market

    Your business concept should include details about your product or service, pricing strategy, location, unique selling proposition and market advantages.

    Much of this information will be supplied by your franchisor. However, make sure to tweak it correctly for your specific location and audience.

    Develop a financial plan

    A financial outline is a critical component of your franchise business plan. It should include details about your startup costs, ongoing expenses, revenue projections and profitability.

    You should also share cash flow, balance sheets and income statements here. With these documents, you can readily identify any gaps in your business and develop strategies to address them.

    Related: 10 Tips to Go From Employee to Boss, From Franchisees Who Did It

    Outline your marketing and sales strategy

    You may get a headstart from your franchisor on the marketing and sales strategy. This is where you’ll want to include more information about your target audience, marketing channels and tactics to promote your business.

    From a sales strategy perspective, include your pricing strategy, sales team structure and sales targets that are tailored to your area.

    Develop an operations plan

    Your operations plan should include details about your day-to-day work, staffing requirements and supplier relationships. You should also outline any technology and equipment needs, inventory management and quality control procedures, some of which your franchisor may dictate.

    Create a management team and personnel plan

    Your management team and personnel plan should detail the leadership structure of your business, each team member’s role and responsibility and the qualifications and experience needed for each position.

    You should also outline a staffing plan, which will include your recruitment strategy, employee benefits and training and development programs.

    Related: The 4 Biggest Myths About Franchising

    Create an executive summary

    An executive summary is literally a summary of your business plan that will provide all the necessary information to someone who only has a few moments to review your business plan. It should summarize the key points of your franchise business plan and research.

    Get started by outlining your business plan

    A franchise business plan, at the minimum, should include the following sections:

    • Executive Summary: This section provides a brief overview of your business, your mission statement, goals and target market.
    • Company Description: This section includes more information about your business, such as what you do or sell, your company history and your management team.
    • Market Analysis: This section analyzes the market for your products or services, including your target market, competition and competitive advantage.
    • Operations Plan: This section describes how your business will operate, including your location, your marketing and sales strategies and management and staffing plan.
    • Financial Plan: This section projects your business’s financial performance, meaning your revenue, expenses and profit.
    • Appendix: This section includes supporting documents, such as financial statements, marketing materials and legal documents.

    Related: 10 Tips to Go From Employee to Boss, From Franchisees Who Did It

    A business plan will help you succeed

    Writing a franchise business plan is a critical step in becoming a successful franchisee. It requires comprehensive research, a well-defined business concept, a solid financial plan, a strong marketing and sales strategy, a detailed operations plan and a competent management team.

    Remember: It’s a living document, so be sure to update it regularly as your business grows and changes. This will ensure that your plan always reflects the current state of your business.

    Tackle a business plan logically and seek help from an expert or your franchisor, as necessary. Then you’re off to get your loan, finish your applications and open your doors!

    Related: Is Franchising Right For You? Ask Yourself These 9 Questions to Find Out.

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    Clarissa Buch Zilberman

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  • Why Having a Great Plan Isn’t Enough to Grow Your Business

    Why Having a Great Plan Isn’t Enough to Grow Your Business

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    Opinions expressed by Entrepreneur contributors are their own.

    If you’re familiar with the Antoine de Saint-Exupéry saying: “A goal without a plan is just a wish,” you’ve probably only heard the TL;DR version. Here is the full version:

    A dream written down with a date becomes a goal. A goal broken down into steps becomes a plan. A plan backed by action makes your dreams come true.

    This is why your plan isn’t going to be enough. A plan in itself is just a piece of paper or a bunch of 0s and 1s that make up words. Luckily, I have had experience with failing and succeeding in business (more of the latter), and these are the five things I focus on to turn my plans into realities.

    Related: Planning To Grow Your Business? Five Tips That Can Help You

    1. Focus

    Focusing on one primary goal per quarter is crucial. As much as we like to brag that we can multitask, we can’t. When was the last time you saw a population that throws 10 balls in the air and catch them before they hit the ground? Exactly. A much better skill is learning how to take all the tasks at hand and realizing which one will have the most impact.

    2. Transparency

    More specifically, internal company transparency. Does your team understand the finances of the company? Do they understand what a burn rate is and that revenue doesn’t mean you are profitable? Internal company transparency means educating your team on how a business works and bringing them into the inner circle that used to be reserved for leadership only. If you add stock options on top of that, you can trigger an ownership mindset that makes your team your partner.

    3. Accountability

    Now that your team has become your partner in success (and failure), they need to be held to a different standard, and being accountable is key. There may be 3-10 people responsible for a priority (remember, only one per quarter) but there is one person at the helm, or what I call the champions, that makes sure everyone does what they need to do. This person needs to understand something, though. They aren’t “the boss.” A lot of times when someone is given this type of responsibility, they believe that they can just shout orders and they only take credit when they succeed and blame others for “not listening” when they fail. That isn’t the case. Accountability goes both ways.

    Related: 5 Keys to Promoting Accountability in Your Business

    4. Hiring

    This is probably the hardest part of the process. Your company is only as good as your weakest employee. When you are small (under 50 employees), you don’t have the luxury of hand-holding — you either find a team that learns quickly or one that is already experienced. Once again, I suggest the latter. You will thank me later. Understand that salary will be your biggest investment and you should treat it just like that — an investment.

    Hire fast and fire quick, especially if you are smaller. Yes, I know this is not the usual battle cry (“Hire slow…”), but you have to realize a day in the life of a small, growing business is like a month for an established one. You need to trust your gut or trust someone else’s when hiring. I also strongly suggest you set expectations with new hires to understand they are in a trial period and that they need to step up. This may seem harsh, but as you grow, you can be a little more lenient and mentor with a softer touch.

    5. Stay healthy

    It’s important to stay healthy financially, physically and mentally. Create an environment that endorses the importance of all three. Physical and financial are usually easier concepts to grasp and fix (I said easier, not easy), but mental is a tough nut to crack. Just saying there is an open-door policy is great and must be said, but sometimes that isn’t enough. Keep in mind that the time you spend doing one thing — for example, focusing on revenue — usually prevents you from focusing on your employees’ well-being. Finding the balance is sometimes not worth the effort when you are smaller but should definitely be on the table as you grow and can afford to implement a mental health check system.

    Related: Keys to Planning for Smart Business Growth

    Did you notice a trend here about plans? There was only one point that spoke directly to taking action, and the rest was to help others be effective at their duties — which has always made me think about Antoine’s quote. I always wanted to add the following to it …

    But remember, a dream is nothing without someone to appreciate it with you

    Without your team running smoothly, a plan can’t take action. And if you really want to make it big, you aren’t going to do it yourself. Don’t you agree?

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    Doug Walner

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