Business Planning in Lincoln, NE

Planning for what’s ahead — whether it’s tomorrow’s itinerary, benchmarks for the upcoming year, or forecasting for the next 5-10 years down the road — is a perpetual task at hand in the business world. This is largely due to the fact that it’s at the top of the list in terms of key things that must be done to set everything up for success, hand-in-hand with goal setting and evaluation/reviews. The beginning of the year is a popular time for business planning (although it’s generally a year-long endeavor); along with other strategic advantages, it’s simply a great opportunity for a fresh start.

Business Planning Basics

You’ll want to look at the big picture as well as all of the smaller things that have an impact on your business, and when planning it’s also advantageous to incorporate goal setting so that you can measure your success of your decisions at the end of the year.

Derek Kats, a real estate agent and owner of Real Estate Avenues: The Brokerage, offers the following tips for business owners and executives who will be planning for the upcoming year:

“The door has closed on 2015. It’s now history. You will never again have a chance to change it – and since history has a tendency to repeat itself you better make the rest of 2016 count!

We all share the common drive to set goals for the new year, but what can we do to truly hit the ground running in 2016? Generally I share my expertise as a Realtor and real estate investor, but on this topic I’ve chosen to offer suggestions based upon my experience as a business owner.

1.  Visit Your Accountant. At least give them a call. Keep in mind that waiting until now (2016) to talk to your accountant is like waiting until you are seriously ill to see your medical doctor – they can probably help but could have done a lot more if you had come sooner. As of right now, your accountant will be able to assist you with evaluating the ways in which you can reach your goals for the coming year from a financial standpoint along with helping you strategize for the coming year.

2.  Review Your 2015 Accomplishments. How do you know where you are going if you don’t know where you have been? You can have the best map in the world but you’ll never be able to find your way home if you can’t ascertain where you are at right now! If you ended 2015 on a growth spurt, set 2016 goals a little higher. If 2015 was a downer, decide how to turn it around in 2016.

3.  Set 2016 Goals.  Set your goals early to allow them to become real before you’re off and running this year’s race. Now that it’s already January, if you haven’t set your goals put them on paper right away!

4.  Be Thankful. Thank all those who helped you last year. Here’s a great example: Someone recently knocked on the door of my home. When I answered it was another Realtor who had been the listing agent on a piece of real estate I sold this year. He hand-delivered a homemade pie! He did the same thing two different times this year. As he started to walk away I thought of a piece of property that I was about to list. It wasn’t in my field of expertise and was just outside of my preferred geographic area. Suddenly he looked like the right candidate for the job. I said, “Do you list raw land?” He said that he did and he enjoyed it.  I said, “Good, call me Monday. I have a listing for you.” So let’s see, three pies equals one $550,000 listing. I think he got his money’s worth! Then a question came to me — why wasn’t I out hand delivering pies?

5.  Move Into The Future. It is just beyond you no matter where you are at. Just yesterday I heard an astute 35-year-old businessperson say she can’t keep up with her 8-year-old daughter on the computer! Always stay on the cutting edge with the Internet and other computer-driven activities. You don’t want to be the 50-year-old who says, “Help me. I must catch them for I am their leader!” What new intelligence-driven procedure should you master this year?

6.  Add a Revenue Center. Today it seems progressive businesses are getting their revenue from several different areas instead of just one. Google used to be just a search engine.  Now it is a social media club (Google +), a video repository (YouTube), a travel agency and much more. What’s your new revenue center for 2016? Maybe it’s something online that helps people and makes you money while you sleep!

7.  Host an Annual Event. Everybody should have an annual event they sponsor. Now is the time to start (or beef up) your annual event. It’s fun and it helps business! What annual event are you known for? Several years ago I attended my first 4-Pro picnic. I can’t tell you how impressed I was. Four professionals got together and planned a picnic for all of their patients/clients. The four professionals were a dentist, an insurance agent, a tool salesman and an accountant. They each tried to get 200 of their customers to attend. It was held on an acreage owned by the dentist. I had been invited by the tool salesman and was a little reluctant to go.

When I got there I was shocked. The traffic started to pick up out on the country road as we neared the acreage. When we arrived we were directed to a parking spot out in a grass field by a group of high school volunteers. There were so many cars it looked like a county fair! As we walked toward the activities I saw free horse rides, a small petting zoo, sand volleyball, a golf ball driving contest, drinks in ice cold tubs free for the taking, big tents in case of rain, and a country band with bales of straw outlining the dance area and loose straw on the ground for the dance floor. Down the center of event was a string of tables covered with red and white plaid tablecloths.  At the appointed time the sponsors and their families, all dressed in bright red t-shirts, started serving food. Each host had a ‘host t-shirt’ that identified them and their business. While the food was actually catered, it looked like the sponsors made it all. It also embodied the idea that they were willing to serve their customers. Just think, where else do you get a chance to see 600 potential customers (the guests the other hosts invited) for about two hours in such a positive setting? I ended up using two of the other three hosts for my business needs.

2016 has just started, but I assure you it has almost passed. There is so much to do and so little time.  Plan it well.

For help with planning your Real Estate needs, please feel free to contact me (Derek J Kats) for a personal consultation at (402) 770-5021 or (402) HOMES-4-U.”

Business Finance

When it comes to a business’s financial wellbeing, it truly takes a village of professionals to keep everything moving in the right direction.

Consider the key professionals that most business owners utilize to ensure that finances are in order—an accountant, tax preparer, insurance agent, payroll professional, benefit advisor, payment processor, and so on. As such, each of these individuals will be able to offer a different perspective in assisting you with evaluating your successes and shortcomings from 2015 in order to help you plan accordingly for the year to come.

Among the professionals you might want to consider bringing into the mix, a trusted business advisor is also a valuable resource. The buying and selling of businesses happens regularly, and as such, many people will be planning to do one of the two, whether it will be happening in a few months or in a few years. This can be a complicated matter, so it’s important to have the guidance in place so that you’re doing exactly what you need to do at the appropriate intervals so that you stay on the path to the ultimate goal.

“With respect to business planning, our expertise lies in helping our clients prepare for turning over their business,” says Jason Wollen, co-owner of No Coast Business Advisors. “Whether it be selling the business or passing the torch on to the next generation, we join forces with our clients’ team of accountants, financial advisors and lawyers to plan for the transition so everything goes as smoothly as possible.

If you are thinking about selling your business in the next couple of years, it’s crucial to focus on the financial records now. This alone will play a major role in the business’s value when it comes time to sell. It’s important to track all transactions, especially purchases, as a part of the profit and loss statements. Having a legitimate paper trail for all of the business’s finances can actually increase the value of the business because you have quantifiable proof to show potential buyers. Moreover, it is wise to begin paying yourself as an employee as opposed to taking your cut of the business’s profit. It’s all about strategizing to get the most for your business, so presenting the most accurate reports of overall revenue (and profit) of the company is critical.”

Jethro Hopkins, co-owner of No Coast Business Advisors, adds, “Especially for someone who is already busy, it can seem like a lot of work to track all of their financials. However, that is why it is always important to have a very good accountant. Then as the business owner you simply need to save the invoices and hand them over to your accountant, who will put it all into your profit and loss statements as well as filing the invoices and keeping the books on your business in order and up-to-date. You’ll avoid spending the time doing it yourself along with any number of costly mistakes that could be made in the process.

For those who may not be planning to sell in the near future, market valuations are still the most critical of our offerings to have done. This provides a benchmark of its value which can be referenced for all sorts of things, such as loans, future planning, partners, dividend payout estimates, and much more. We recommend that any business get one done annually at the very least.”

Business Communication

With the growth of a business comes more avenues of communication – for customer service purposes, business transactions, meetings, client communication, responding to incoming calls, and so much more. This is an area where you should evaluate your current equipment along with the methods you have in place and pinpoint the ways in which you could improve in the coming year.

Utilizing an answering service is one way to increase your level of customer service offered without having to hire additional staff to cover phone calls outside of the normal hours of operation. Executive Answering Service offers friendly telephone receptionists who can answer your phones whenever you cannot – whether you are on the other line, out of the office, with a client or spending treasured time with your family/friends.  Many callers will hang up and call someone else when they receive a voice mail or busy signal, resulting in what could be hundreds of dollars of lost business!

“Hiring, training and then the overhead cost for a friendly and customer service oriented telephone receptionist – including salary, benefits, etc. – is expensive!” says Megan Lipert-Murphy, owner of Executive Answering Service.  “Our operators can obtain messages and/or seamlessly transfer calls to you or your staff, just as if they are working directly in your office.  They are trained to be the best virtual receptionists in the industry. We don’t want to be just your answering service, our goal is to be a part of your team and your customers are our number one priority. Executive Answering Service is able to offer the quality of service that is aligned with your reputation and the communication technology that your business requires.”

Incorporating wireless devices is another way to improve communication in the coming year. Those who are always on-the-go don’t want to have to worry about connecting to their devices, which is why wireless solutions continue to evolve. “Bluetooth technology is always advancing, so you’ll want to plan accordingly,” explains Chelley Baack with Headsetters™. “The range of the devices is always growing farther, batteries are lasting longer, devices are getting more comfortable to wear, strength and durability continues to improve, technology is becoming more sophisticated, and so on.

Bluetooth devices are so popular among business owners and professionals because they make it easy to talk on the phone or connect to another wireless device without worrying about cords or wires. Some of our headsets even have the capability to allow ‘multi-connections’ where the headset can connect to a computer, a landline, a VoIP and a mobile phone all at once. Furthermore, all it takes is the push of a button to tell it which one to make a call from.

In addition to offering wireless solutions for our customers, Headsetters™ also offers mobile access to our products and services. Even when we’re closed on nights and weekends, our clients never have to be out of info or out of contact.”

Now more than ever, it’s essential to able to communicate effectively with all clients, which likely includes those who speak a language other than English or who are hearing impaired. In planning for how best to serve all who wish to do business with you, it’s important to be aware of the resources that are available in the community and to utilize them whenever possible.

As a perfect example, the Nebraska Commission for the Deaf and Hard of Hearing is an asset to the public in the state of Nebraska as an information and interpreter referral agency. The Commission’s role is to advocate, train, and provide information and resources to the public on a statewide level not only for people who are deaf or hard of hearing but for businesses as well.

“Businesses need to be aware of communication and technological needs for people who are deaf or hard of hearing,” emphasizes Natasha Olsen, Business Manager at the Nebraska Commission for the Deaf and Hard of Hearing. “The need for an interpreter or technology can be an unforeseen expense; therefore, planning and preparation is essential. The Nebraska Commission for the Deaf and Hard of Hearing’s (NCDHH) Interpreter Referral Service is the most beneficial service provided to businesses in the State of Nebraska. This service assists businesses with arranging an interpreter and is free of charge with the exception of the interpreter’s fees, which is negotiated between the business and the interpreter.”

She adds, “It’s important to note that the Nebraska Legislature recently passed a bill expanding licensure requirements for sign language interpreters. The new law mandates community interpreters who receive compensation for their services and Video Remote Interpreting (VRI) Service Providers to hold licensure in the state of Nebraska.  The standards for interpreters are being raised to ensure that people who are deaf or hard of hearing are receiving effective communication.  In fact, Nebraska is the first state to require a business license for VRI providers.”

Business Staffing & Workforce Development

Your team is central to your success in the coming year, so you’ll want to focus your planning efforts on personnel-related matters as well.

As a business owner, there’s a good chance you’ve been through the highs and lows of the hiring process. A classic risk/reward scenario, aside from the time and effort it takes to advertise, screen and interview, you’re making an initial investment in training that can easily turn into lost time and money if the chosen individual doesn’t work out. Whether you’re preparing for expansion or looking to fill a key role, such as a staff member being away on maternity leave, if you don’t have the resources to allocate towards the hiring process or if you don’t consider yourself to be an expert in that area, it’s in your best interest to leave this to a professional.

“One of the biggest things companies seem to overlook when planning is their projected staffing needs and their onboarding process,” says Eric Beck, Sales Coordinator for Advance Services, Inc. “It’s good to recognize any deficiencies early on in the fiscal year so that appropriate adjustments can be made. Also, keep in mind that finding, hiring and training the ‘right person’ can take a lot of time, so it’s a good idea to get on the ball as early as possible. Furthermore, it’s important to realize that many workers tend to ponder their own futures at the end of a year. They start thinking about whether they intend on sticking with the company or moving on.  It’s clear that organizations that invest in onboarding reap the results. According to the Aberdeen Group, 90% of employees make their decision to stay at a company within the first six months.

At Advance Services, Inc., I am able to assist in many areas of staffing ranging from temp-hire, planned staffing, seasonal, and professional. We offer a trial period for all of our employees of 90 calendar days. This time frame allows you to evaluate our employee, gives us time to coach and develop them where needed, and then allows you to decide if that employee meets your needs.”

He adds, “One of the biggest concerns I hear from companies that do not work with us is ‘We have open positions, but cannot find qualified workers to fill them.’ Staffing is a young industry, and still new to a lot of people, and we are not all the same. So if you are having trouble finding qualified workers for your jobs don’t wait, call us today for a meeting at no expense to you to see if we can help. We pride ourselves in not only meeting your staffing needs, but helping your business grow.  In order to make sure each employee is the best fit, we first evaluate employees through a lengthy interview/screening process, and then have them attend our new hire orientation where they learn about their new company, and also by helping set expectations for their first week of work.

With our customized plans, we can make a new hire orientation to fit any company’s values and needs. In these orientations we can tell them who you are and how to be successful prior to starting their job. Our goal is to get future employees excited to join your team while saving you the first, but most crucial, step in the process and in retaining an employee.

Advance Services, Inc. is independently and family owned, treating all of our customers like family. If your company or department is giving you worry with low production, high turnover, or slow growth, please give me a call and we can setup a meeting to evaluate these issues at no expense to you. I can help look at a customized plan to fit your specific needs, ranging from improving manpower operations, adding seasonal staff, or by helping look at areas that promote growth.”

Finding the right people, and then finding the best ways to further develop their talent, go hand-in-hand in cultivating the best possible workforce. And make no mistake, this is an area that’s mission critical to the success of your business.

“Scouting and developing leadership talent is the Holy Grail in human capital management,” advises Libby Farmen, Chief Consulting Officer at Talent Plus. “Leadership tops the list of CEOs’ concerns about the future, and they are wise to be concerned about it because building leadership pipelines for the future of their organizations is the only way CEOs, or any leader, can leave a legacy that outlasts their own tenure with the organization. And by putting a strategic plan around developing leaders, you naturally see higher engagement and greater business results as those leaders put more discretionary effort into building your organization.

This year we’ve unveiled two new products focused solely on leadership. Leadership Toolbox is a day-long seminar that gives you a snapshot of some tools you can use immediately to promote leadership development in your organization. Leadership Plus is an intensive year-long leadership curriculum focusing on a deep dive into the world of leadership and how a legacy of leadership can be passed down through generations of business success.

At Talent Plus, when we think about helping our clients grow, and our own growth as a company, calendars come to the forefront of our vision. We recognize leadership and the development of talented leaders doesn’t just happen without intentional thought, planning and action. While the premise of what we do is simple, the science behind it is sophisticated. We are able to scientifically predict who will be a great fit for a specific role, so we can help you see into the future and build your organization from the ground up all based on science. And so this year, as we sent out our holiday card we attached a calendar, hoping leaders take a high-level look at the upcoming year and define goals for where they want to be and how they’re going to get there, specifically with their people. People are any organization’s greatest asset and when they feel significant, they increase engagement, productivity, innovation, profitability and they stay longer. If they love where they work and what they get a chance to do every day, they can’t wait to do great things each day at work. That feeling of being a part of something significant and using natural talent to move the needle forward on a great team is unbeatable in terms of a motivating factor each day.

As such, we also know by identifying talent and giving people tools to develop talent every day, we can change the entire culture of an organization for the better. When we do that, our clients grow, they win awards and they move rapidly into successful futures so much that they cannot imagine growing their business without the benefit of talent knowledge. Specifically, based on science, we can help companies:

• Hire (or we say select) the very best people from front-line positions to CEOs and everywhere in between.

• Build and train teams that work more efficiently and effectively together.

• Investigate and learn more about culture and engagement, including reward and recognition pieces.

• Educate and train managers to be better managers.

• Lay out succession plans and give guidance on who your best future leaders will be.

• Customize solutions for specific needs across industries and with companies froorm a very small size to incredibly complex organizations that are spread across the globe.

If you want to dig in and see our science behind the curtain, come visit us. Feel free to set up a tour and find out how we can help.”

She also notes, “As with any business outcome, specific goal setting and planning leads to better results. What we often find is the most important focus an organization can have is often overlooked and taken for granted – their people. It is vital for companies to get to know the talents of their people and position them in roles so they can use those talents to move their company forward. Technology changes, trends come and go, economies rise and fall, but the one constant through all of those changes is the people you select and retain within your organization, as they will be the ones who help you navigate through the other changing factors. When you can identify what people are really good at and then give them opportunities to shine in those areas, navigating the ups and downs of any business becomes a matter of how much you trust your people and how much they trust you. And in order to facilitate that growth, you have to put a plan around it.

So ask yourself, what are you doing today to make sure your customer-facing front-line people love what they do and bring that positivity and energy to the customers you serve every day? What recognition and development are you giving your managers to allow them to rally their teams to play at a consistently high level? And at a c-suite level, who are you looking to and training for a more significant leadership role within your organization?

How do you go about answering these questions? We know at Talent Plus that a validated method is the very best way to find those answers and if you use science, you up your odds of being successful tremendously. Each day is full of tasks and business for all of us, but taking the time once a month to plan something to invest in your people means you’ll see results throughout the year.

Being intentional about developing your people and having specific goals laid out for how you’re going to do that in 2016 makes your goals attainable. Consider each level of your organization and the challenges your teams are facing. How can a concerted focus on your associates one month at a time help you move to a culture of engagement and growth? At Talent Plus we have set our calendar for the year and offer several events from day-long experiences to year-long leadership cohorts and would love to have your join us for any of them. Visit www.talentplus.com/events to see the latest dates and events or call us with any questions at 1.800.VARSITY.”

Business Image

Visibility and brand recognition in the marketplace are paramount, so it’s advantageous to evaluate all of the ways in which you’re making your presence known. Next, you’ll want to focus on how you could build upon that in the coming year.

It’s important to note that while an effective marketing strategy will keep you in front of your target audience (along with a host of other benefits), it’s not the only way that you’re communicating your identity to your current and potential customers. Consider a literal example, your actual storefront or place of business.

First, from the outside, your signage will have a huge impact on brand recognition and driving customers into your business. Particularly if you have old or worn out signage, you’ll want to plan to fix and update accordingly. “A fresh new look for your signage will not only get your company noticed, but as an extension of your brand, it also serves to maintain consistency with all other areas of promotion, thus improving consumer recognition,” advises Jim Graham, President of Nebraska Sign.

Next, considering the fact most people will check out your business online before they decide to step through the doors, you’ll want to make sure that your online presence is welcoming and offers an accurate portrayal of what your business looks like in real life.

“Businesses need to consider how they look to their customers and potential customers,” agrees Lori Black, owner of MIT Images 360. “Google statistics show that people who view business interiors online are more likely to go to that business. However, businesses often overlook their online presence, and most businesses ignore their Google Plus presence altogether. Considering the fact that Google is the number one search engine today, Google Plus pages are very important when it comes to your Google rankings because it’s how people find the businesses they use. Let’s face it, all businesses want to show up higher in Google search rankings. Enhancing your presence on Google can only improve your status with Google.

As customers, we like to know what we are getting into before going into a business. When people Google your business, they most likely will see Google’s Street View tour of the outside of your business. Give your customers a ‘See Inside” option on your Google pages with a Google Street View Trusted interior virtual tour. MIT Images 360 specializes in creating 360-degree virtual tours of businesses that are placed on all business Google pages. These tours also can be put on a business website and social media pages.

Take a restaurant for example. We all have been interested in new restaurants in town. Many of us would love to see what that business looks like before we get there. So if you are a restaurant owner, you definitely should consider giving yourself a competitive advantage by putting your restaurant interior before potential customers online.

Choosing the right business can be a difficult decision, and as such, businesses need to consider how consumers are selecting the businesses they patronize. They are going to Google, and businesses that put their business interiors on Google will get more attention. Google business virtual tours build consumer confidence and trust among prospective customers. They let people experience your location before they arrive. So for 2016, make it a point to plan for how potential online customers view your business.”

As you can see, there are so many things to be considered when planning for the future of your business. Fortunately, there are plenty of opportunities for business owners to take advantage of when it comes to assistance with this planning. Enlisting the help of professionals is key to your success as a business owner, so don’t hesitate to reach out and get feedback as to how you can move your business forward in 2016.