Take a moment to ponder this: What if you don’t have the option of “retirement”? How will your life and business be different? Matt DiFrancesco reflects on the exact idea. He talks about how and why a business plan is integral to your success. It allows you to envision your long-term goals and what exactly you want to derive from your life. Keep reading to get inspired to build your business plan today.
Do you need a financial advisor? If yes, then schedule a free 20-minute conversation with Matt DiFrancesco from HighLift Financial. You can go over all of the hurdles that you are currently facing and seek options. It’s beneficial to discuss financial challenges with a professional who’s been in the area and industry for years and knows it inside and out.
Why Is The First Step In Building A Successful Business To Formulate A Business Plan?
When I got into the financial services industry, one of the first things was to develop a business plan. It was a very number-based one, as I wanted to keep a check on the revenue. One thing that I never stopped doing was going over the business plan. Usually, business owners just toss it over to the branch and forget about it.
Instead, I have always been diligent about going through the old ones and planning a new one every year. Every business owner should take notes and never look at the business plan as just “another document.” Furthermore, always take a moment to ask yourself, “What do you want your life in business to look like?” and “If your business was ten times the size of what it is now, what would it look like?“
By answering these questions, you have a big vision of what your business can become. Here is my process of success: First, I made 5-year plans and then broke them into 1-year plans. In this way, I divided the entire success “incline” into small sprints. My goal was to keep the learning curve steep while keeping the endpoint within sight.
The Importance Of Constant Self-Awareness
Another tip for family business owners is to be aware of their mindset. This is because the most significant thing that holds us back is what’s between our ears. So keep analyzing your belief systems, values, internal dialogue, rules, and self-image. From there, you can start breaking down these goals into numbers. I have been following this process for the last nine years. It has transformed my business.
Two Life-Changing Client Stories
I deal with many clients in the automotive industry, from grinders and technicians to those just used to moving cars through their shop. The problem with these clients is that they are facing trouble in figuring out the next steps. They need first to create this vision of what they want. Then, when they take the step of defining their version of success, that’s when they will be able to see the bigger picture.
180-Degree Transformation
I met a person during a conference. We started interacting and talked about creating a vision for the business. After a few days, I received a call from him, and we scheduled a meetup. During our meeting, he discussed his issues in terms of his family business and personal life. I got him to engage in business and a spiritual end that completely changed his life.
This individual made a 180-degree transformation. As a result, his business is thriving more than ever. He’s solidified his family relationships and has finally got his kids on board with a vision. Because of this, they’ve been able to find their roles within the business. So, it was just one small event to get them to start thinking outside the box.
The Motivational Nudge!
Another success story is of my friend who was a general manager of a radio station. He was excellent at what he did but hated working for the company. During our meetup, he told me that he wanted to become a consultant for small business owners and help them with their marketing strategies. When I asked him why he didn’t go for it, he started giving me every reason he couldn’t do it.
So, I invited him to come to the business planning workshop. We talked about mindset and how his mindset kept him from achieving what he wanted to achieve. After that, he started doing some of this consulting work. In addition, I was able to bring him as part of my team to work with my clients, those who have salespeople, to help them train the sales staff. Finally, one small seminar got him to open his mind, and he started to see the possibilities.
Just as I tell many of my clients from the automotive industry, it’s fine to use some help. As a business owner, you will be occupied with tons of tasks. You will need somebody who can help you work through your mindset and figure out what things are holding you back. This will give you that motivational nudge to create a vision for yourself and the company, and then there is an added benefit. You are kind of accountable to that person.
The Success Mirror
Here are the two most important things that I want you to do. These will help you in formulating your successful business plan. The first one is a question that you can ask yourself, which is, “What if retirement was not an option? How would your life and business be different?“.
The second thing that I recommend is sitting down and thinking about what is holding you back mentally. If you think about your business being ten times its size now, why aren’t you there? What’s holding you back? Spend some time, especially as you enter into the holiday season with Christmas. You can get a little bit of downtime. I would suggest that you think about these two questions.
How To Get In Touch With Matt?
It’s always helpful to get some guidance. Schedule a private consultation strategy session with me today. I give everybody half an hour of my time just to analyze and talk about your situation. From there, we will see if there’s any way I can provide you with some guidance.
At my virtual family office, I have dealt with many family businesses that aim to pass down their business and generational wealth to their kids. Together, we analyze the obstacles hindering their success and see how everybody in the family can unite to achieve a unified goal. Furthermore, if you are making pivots such as going virtual, you can reach out to discuss and know the benefits of shifting to a virtual office.
Disclaimer
The information compiled and posted here solely represents the opinions and views of the guest. It might not necessarily be similar to the opinions and views of High Lift Financial. The availability of this content only serves educational and informational purposes. It is in no way a substitute for tax or legal advice or professional investment.
Always make sure to consult your financial advisor with any queries related to personal or business planning. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.