Articles — Strategic Planning

Your Business Plan - Detailing Your Business Description

Dr. Linda Hancock Business Strategic Planning

Your Business Plan - Detailing Your Business Description

Do not assume that anyone who will be reading your Business Plan knows anything about your business. You will need to include a number of specific pieces of information that will help the reader to understand exactly how you have set up the business. In order to do this, include the following in your description: The legal name of the business and form that it takes under the law. For example, is it a sole proprietorship, partnership or corporation? Also talk about specific divisions or departments that you have set up within the business. Business ownership - Are there shareholders...

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Steps in Crisis Management - Evaluate Threats and Plan

Dr. Linda Hancock Business Strategic Planning

Steps in Crisis Management - Evaluate Threats and Plan

People define crisis in different ways and having a business crisis can therefore hold different levels of severity for different people. It is important that you have a process in place that will help you to deal with problems that occur in your business so that resolution will occur at the earliest possible time. When you are dealing with a crisis you will need to do a number of things in order to come up with the best plan to deal with it: Clearly define the problem - Do not let high emotions take you down the wrong path. It...

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Business Principles That Physicians Don't Know

Dr. Linda Hancock Business Strategic Planning

Business Principles That Physicians Don't Know

I have known for some time that physicians face a number of challenges. They enter the field of medicine with a goal of helping others and then find themselves involved in a career that demands so much of their time and energy. Medical school and internships require huge financial and time investments. Often sleep is caught in very short naps between rotations. Then it is time to open a practice and the costs for doing so can be almost overwhelming. As a result, physicians take on as many patients and hospital shifts as possible to try to survive! And, over...

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Satisfying Your Personal and Professional Needs - Expanding or Changing Your Business

Dr. Linda Hancock Business Strategic Planning

Satisfying Your Personal and Professional Needs - Expanding or Changing Your Business

Would you like to expand or change your business? Do you have some secret dreams that you hope you will "someday" achieve? What are you waiting for? Some people work until they get to the point that they hate what they do. That is sad. When questioned, they often state that they always had a yearning to be doing something else. That is even sadder. One of the most difficult things to grieve is the loss of a dream. Do you wish that your business was different that it is now? Begin by scheduling some quiet uninterrupted time when you...

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Setting the Vision and Tone - Your Blueprint

Dr. Linda Hancock Business Strategic Planning

Setting the Vision and Tone - Your Blueprint

Imagine what would happen if you decided to build a house without a blueprint? When you hired the contractor, they wouldn't know what to do. You would not be able to order the necessary materials because you wouldn't know what you needed. You wouldn't even know where to start on the project. It's the same thing for starting and developing a business. In fact, I believe that more time and effort need to be invested into planning the work than in doing the work. I have heard many people proclaim, "You need to work harder ON the business than IN...

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A Business Plan is Your Career Roadmap

Dr. Linda Hancock Business Strategic Planning

A Business Plan is Your Career Roadmap

Four years ago, I decided to write a Business Plan for what was then a part-time endeavour. That year end I was shocked and pleased to discover that my income had increased by several thousand dollars over the previous year. This was a good return on my investment of only a few hours of creating the plan. Everyone knows that contractors do not begin working until they have a blueprint. Teachers develop a curriculum before starting a semester. Producers and directors require a script while sports enthusiasts play by rules and time limits that were previously established. A story is...

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