By Jon Holbert
Those who know my wife and I, know that we’re big fans of bluegrass music. We love the historic nature of the music and the outstanding musicianship demonstrated by the bands in the genre. The lyrics can also be quite comical at times. One tune has a phrase kind of like this, “Every time I’ve got the time to fix the roof, it’s raining, and when it ain’t raining, it don’t leak!”
Most small business owners have a similar quandary. They spend a lot of time helping customers, dealing with employees, banks, accountants and various other urgent matters that demand their time each day.
Many other things that are of paramount importance to the long-term success of the business and the owner’s wellbeing simply get pushed to the back burner. Charles Hummel refers to it as “The Tyranny of the Urgent” in his book by that title.
I have always been told that the higher up you are in a company the further out you should be planning. It doesn’t get any higher up than owner, but are you spending the time it takes to plan for the future of your business? What about your personal financial future? Most business owners simply do not spend the time to plan because they are so busy trying to fix the proverbial roof during a downpour. Unfortunately, many business owners are made aware of their lack of planning when disaster strikes.
Things like the untimely death or illness of a key person, a dramatic swing in demand or costs of goods or maybe a global pandemic (sound familiar?) gets in the way.
So, what can be done?
First, set aside time each week to think about the health and direction of your business. Lock yourself in a closet or go for a walk if you have to, but take the time.
Use this time to make plans, study competition, strategize, investigate new products or services or whatever is needed. Take the time to set goals and measure where you are towards achieving them. Be proactive and think about your financial future.
Are you ready for what is next? Spend a few prime hours of sunshine to fix your roof, so when the rains come, and they will come, you will be warm, dry and comfortable. Contact the CBI Team for help when you’re planning for your future. We can help.
Call 479-770-8989 or email jon.holbert@cbiteam.com
