Have you written a business plan for the current year? Have you projected how much your business is going to make? What are you doing different this year than last year? How about you, business owner—how much are you going to earn this year? Taking a vacation this year?
I find that most business owners plan for their vacations better than for their own business operations. Find a person who is taking a vacation and they can tell you when they are departing, how they are getting to their destination, how much the airfare cost them, and when they arrive. They will even tell you how much they have saved, and will be spending on the vacation.
Why is it easier to plan the vacation then plan for the source of your income and livelihood? Sure it’s a commitment of time and energy to accomplish writing the plan, but the fruit of your labor will bring measurable results. As a business owner you should have an idea of how you would like your business to perform (vacation destination). What will you do to accomplish this goal or how will you get there (transportation)? What financial resources will you have to invest in reaching this goal (cost of vacation)? What do you have in retained earnings or what amount will you have to borrow to provide the working capital to achieve your goal (amount saved for vacation)?
You owe it to yourself to plan and be to strategic about your business– it’s your responsibility and no one else’s! Your lender will appreciate it! Your employees will appreciate it! And most importantly YOU will benefit from it. Don’t be like Clark Griswold of the movie Family Vacation and overlook a critical planning tenant—not checking to see if Wally World would be open when his family was vacationing. Think and plan for the final outcome.
Know where you’re going! How you will get there! And that you have chosen the perfect accommodations!