How Do You Include the Unknown in Your Strategic Plan?

While you can’t plan for every surprise, different situations carry different risks for different businesses:

• What if someone else has to carry on for you du e to a personal emergency?
• If your family situation changes, does your business involvement need to change too?
• What if your landlord decides to change the purpose of the property and ends your lease?
• What about an economic downturn?
• How will your business respond to a natural disaster like a building fire or tornado?

Your plans might differ based on whether the event is internal or external, involves a change in management, or immediately affects the safety or economic stability of your employees. You might focus on safety, restoring critical resources or operations, or the chain of command for recovery operations.

Being prepared is critical to your success

Knowing what to do during an emergency, and who will do it, can help minimize the impact on your business and employees. David can guide you through the process of completing a business impact analysis and developing a continuity plan to manage disruptions to your business. The hope is that you’ll never have to use it, but wouldn’t you rather be prepared?

Read the full article on our website to learn more!

Start Business Transition Planning: It’s as Easy as a Phone Call!

David is an accomplished and experienced business professional who brings over 40 years of insight to the table. As a business coach, he specializes in helping business owners prioritize their business needs, identify areas of improvement to support those needs, and lead their business to its greatest potential. He can help you plan for the future of your company with business transition planning in Ann Arbor and the surrounding area.

It all starts with a single, free conversation. Call 734-726-5208 today for a free coaching session or contact David. In today’s world, you need to be ready for anything.

Why Planning for Unexpected Outcomes is Critical

Your strategic plan maps your path to success, guiding you and your employees toward growth. It outlines your commitment to success and acts as a GPS.

What if you meet an unexpected challenge or emergency and need to take a detour? Make sure you have a plan for that, too! Planning for your success demonstrates your commitment to achieving your best, while planning for the unthinkable demonstrates your commitment to a different, but no less important, outcome.

Preparing for the worst while expecting the best:

• Demonstrates respect for your employees and/or investors
• Minimizes loss
• Prevents panic and decision making based on emotions

Change is predictable — plan for it

Change itself is predictable but of course the details are not. There’s no crystal ball showing the future of your business, only an understanding that there are many forces outside your control. While it’s not possible for your strategic plan to cover every possible emergency, a good contingency plan will help you navigate unexpected and unwelcome changes in your business environment.

How do you plan for contingencies you can’t predict? Read the full article on our website to find out!

Start Business Transition Planning: It’s as Easy as a Phone Call!

David is an accomplished and experienced business professional who brings over 40 years of insight to the table. As a business coach, he specializes in helping business owners prioritize their business needs, identify areas of improvement to support those needs, and lead their business to its greatest potential. He can help you plan for the future of your company with business transition planning in Ann Arbor and the surrounding area.

It all starts with a single, free conversation. Call 734-726-5208 today for a free coaching session or contact  David. In today’s world, you need to be ready for anything.

An Exit Plan is Critical

Do you have a succession plan in place for your business?

Have you been putting off planning for later in life, instead focusing on the here and now?

"A 2022 MassMutual study indicates that only 8 percent of business owners have a completed the process of developing written succession plan. Equally troubling is the fact that about one in four successors, those that the owner has targeted to take over his or her company, do not know that they are in the succession plan."

Many business owners don’t think about an exit strategy until they feel ready to move on. At that point, they may have already missed opportunities to get more value out of their company.

It’s critical to plan for both expected and unexpected exits:

Expected – goals with retirement or selling in mind

A planned exit can be a long-term process or a quick deal. Maybe you’ll plan to sell in ten years, or outline the steps needed if you receive an offer before then. Either way, the closer you get to the end, the harder it can be to see the best way out. Failing to plan may mean you have less control over the outcome and achieve less than optimal results.

Unexpected – we can’t schedule the unexpected, but we can prepare for it

Few business owners would have predicted a pandemic in 2020. But savvy business owners may have planned for contingencies such as supply line interruptions or workforce shortages. Pandemics, natural disasters, rent or location events, or the unexpected loss of life – these are things we don’t want to think about. But if you don’t think about them, and the unthinkable happens, how will your business hold up?

Read more succession planning tips on our website!

Not sure where to start with business transition planning?

David is an accomplished and experienced business professional who brings over 40 years of insight to the table. As a business coach, he specializes in helping business owners prioritize their business needs, identify areas of improvement to support those needs, and lead their business to its greatest potential. He can help you plan for the future of your company.

It all starts with a single, free conversation. For help with business transition planning in Ann Arbor, Call 734-726-5208 today for a free coaching session or contact David through the website. In today’s world, you need to be ready for anything.

How do You Benefit from a Carefully Planned Exit Strategy?

Have you spent time on the most critical part of business development? Writing a strategic plan means committing your business values, mission, goals, plans, and vision to paper – documenting your guiding principles.

Planning minimizes the element of surprise:

• Planned exits have better results than unexpected exits
• You’re better able to meet unexpected problems head-on (health or family, for example), without added stress
• You’ll have steps in place in case of unexpected offers
• You’ll be able to liquidate faster, if needed
• You’ll be ready for retirement, personal time off, or if you’re simply ready to move on

Including an exit strategy when you write your strategic plan ensures you’ve taken the right steps toward success, less left to chance, and are prepared to make informed, rational decisions. You won’t be rushed and won’t be as likely to make decisions based on emotions, or under stress. 

Read more about business transition planning on our website.

Not sure where to start with business transition planning?

David is an accomplished and experienced business professional who brings over 40 years of insight to the table. As a business coach, he specializes in helping business owners prioritize their business needs, identify areas of improvement to support those needs, and lead their business to its greatest potential. He can help you plan for the future of your company.

It all starts with a single, free conversation. For help with business transition planning in Ann Arbor, Call 734-726-5208 today for a free coaching session or contact David through the website. In today’s world, you need to be ready for anything.

What a Good Business Coach Is, and Isn't

Do you know what a good business coach is, and what a good business coach isn't?

With a business consultant, you are paying an expert to provide a solution for the problem you have. You are paying for a set of skills and a solution they recommend for your situation, but you may not be addressing more fundamental problems.

Once a consultant has made their recommendation, you’re often left to your own devices to run with their solution. In contrast, a coach will continue working with you consistently over time to ensure that whatever plan is put into action is successful. Your investment of time, energy and effort are the most important ones you will make with a great business success coach. Your coach will help you consider adjustments and refinements that can greatly impact success.

A Real Story from an Ann Arbor Business Owner

So, what does a successful business coaching relationship really look like?

Here’s what a former AdviCoach client had to say. He was a local business owner in the Ann Arbor and Dexter area and was looking for some help with an established but struggling business:

“From the very first meeting, David acted like a partner in my business. He asked probing questions about my business, receiving my answers without judgment, and demonstrated a true desire to understand how my business was operating. He was prepared and engaged for every coaching session. He made sure we made progress each week, driving the process both during our meetings and afterwards with email correspondence and follow up phone calls as required.”

During this process, the meetings were streamlined by using prepared forms that have been refined through the years. Nothing in the business coaching process is ever “pre-fabricated,” but using these resources allows the coach and client to quickly get on the same page and begin tailoring strategies to the business.

After six months of cooperation, a custom strategic plan to achieve the client’s goals had been drafted. He was left with the tools he needed to monitor his business beyond the coaching relationship. At the end, he knew what his goals were, how to achieve them, and what to do when he encountered obstacles in the future.

Read more on our website!

Business Success Coaching to Transform Your Pathway to Great Success

In the day-to-day operation of a small business, it’s easy to become shortsighted. You begin to take for granted that the way things are is the way they have to be, or always will be.
It often takes an experienced outsider to remind us that we really can change things for the better.

David Waymann has helped many people in Ann Arbor and southeast Michigan with business success coaching and can help you too. If you’re not happy with how your business is doing, coaching can be a great option.

Call 734-726-5208 to find out more and set up your free business review!

What Can Business Success Coaching in Ann Arbor Do for You?

Are you a business owner in Ann Arbor or southeast Michigan?

Have you wondered if you should hire a business coach to help your business reach the next level of success?

Many business owners could benefit from coaching, but might only know about consultants, are embarrassed to ask for help, or  don’t know what their options are.

So, let’s go over what business coaching really is, what it isn’t, and what a real story of successful business coaching looks like!

What Business Coaching Is

Business coaching is fundamentally about developing you, the owner of your business. In many ways, it’s like earning a master’s degree in running your specific business. A coach will help you move out of your comfort zone.

Of course, this can take on many forms based on your situation, but the end goal is always to transform you into a more successful owner who has the skills needed to meet any challenge in the future.

This often involves digging into some deeper questions—what’s working or not working? What’s holding you back? What support do you have, and what do you need to achieve to consider yourself successful?

A great business coach works with you on exposing the gaps that lie between where your business is and where you’d like it to be. Once the foundation is laid, we’ll start implementing lasting, transformative change.

Business coaching isn’t about quick fixes or cookie-cutter solutions. It takes a willingness to answer these hard questions, and the drive to change them.

What Business Coaching Isn’t

With a business consultant, you are paying an expert to provide a solution for the problem you have. You are paying for a set of skills and a solution they recommend for your situation, but you may not be addressing more fundamental problems.

Once a consultant has made their recommendation, you’re often left to your own devices to run with their solution. In contrast, a coach will continue working with you consistently over time to ensure that whatever plan is put into action is successful. Your investment of time, energy and effort are the most important ones you will make with a great business success coach. Your coach will help you consider adjustments and refinements that can greatly impact success.

Read more on our website!

Business Success Coaching to Transform Your Pathway to Great Success

In the day-to-day operation of a small business, it’s easy to become shortsighted. You begin to take for granted that the way things are is the way they have to be, or always will be.

It often takes an experienced outsider to remind us that we really can change things for the better.

David Waymann has helped many people in Ann Arbor and southeast Michigan with business success coaching and can help you too. If you’re not happy with how your business is doing, coaching can be a great option.

Call 734-726-5208 to find out more and set up your free business review!

What Does a Post-Pandemic Work-Life Balance Look Like?

Wondering what you can offer to help your team thrive in 2021 … and beyond?

We didn’t expect the pandemic, and we certainly didn’t expect how it would change American business. Technology has become the backbone of business, as millions of Americans moved to a work-from-home model and proved the old-fashioned, 9-5 office model nearly obsolete. With work and home no longer separated by space and time, business is primed for change.

As a result, the work/life and employer/employee balance changed, almost overnight.

Pre-pandemic, it wasn’t uncommon for businesses to consider incentives like casual Fridays and company-provided snacks to boost employee motivation and engagement. The more progressive businesses may have offered perks like onsite gyms, daycare, and wellness programs. The missing link is that they are largely devoted to improving wellbeing while in the workplace. A true work/life balance supports life outside the workplace.  

How do we create a win-win that balances employer with employee needs, wants, and interests?

Visit my website to learn more!