Failure to Plan is a Plan to Fail

Besides this blog which is updated 3 to 4 times daily with wisdom from others, (thus the name "Collective Wisdom"), I also write my own bits of wisdom once or twice a week on this blog:

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Here's a sample from earlier this year:

A Business without a Plan

Sure, it would be nice to just "wing it", and be successful. But life doesn't work that way.

Earlier this month I got a phone call from a barber who was calling to get a quote for advertising for the salon that he works at. So I set up an appointment and visited them a couple days later and discovered that they were "Winging it".

9 months ago they moved from one side of town to downtown. I've driven by their shop 50 times, yet never noticed them. Even the day of my meeting I went around the block twice before I found them.

At this particular small business, they have about 6 or 7 employees including the two owners and they must be doing a decent job in order to stay in business for the past several months. They are planning a "Grand Opening" next month and reached out to a couple radio stations that they listen to for ideas.

I was honest with them. I told them what it would take to build their business and they really didn't want to hear it.

A 52 week advertising plan with a minimum of 15 ads per week at $400 per week is not what they wanted to hear.

I predict that their store front will have a For Rent sign in the window within the next 52 weeks instead.

Now, some other radio salesperson will sell them what they want, but it's not what they need.

The reason so many businesses close within 2 years, and even fewer last 5 years, is they don't have a plan to get customers who will pay them money, which in turn keeps them in business.

I understand that many of these people have the best of intentions, they have a great idea, they are above average in their area of expertise, but they are often missing that one ingredient, the advertising and marketing side of success.

And it hurts to see these fine people invest their hearts, dreams, time, passion and funds into something that won't last.

I've said this before and it bears repeating over and over and over again:

"If you are planning a party but never send out invitations, NO ONE WILL SHOW UP."

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