For the enterprise value specialists at Ceibass the New Year, 2021, began back in September 2020 as they assisted ambitious lawn and landscape business owners with their 2021 business planning.
“Now that the New Year is here, it is an ideal time for lawn and landscape business owners to work on their resolve. What do we mean by resolve? Choosing firmly to execute the 2021 plan,” said Tom Fochtman, Ceibass, CEO. “What we often see is business owners not committing to the plan, not communicating the plan effectively, not holding members of the team accountable for the plan, or still having incomplete parts of the plan that prevent the team from moving forward on the plan.”
Tom and the team at Ceibass went on to add that planning is an ongoing process, especially in these uncertain times, but that adopting a plan and then evolving it puts a company much further ahead then not adopting a plan at all.
Often the yearly plans are very comprehensive, very complex. So here are some other thoughts on where to focus your attention as you execute your 2021 plans:
Get started. Persist. Adapt as needed. Your plan doesn’t have to be 100% complete to begin to execute the tactics.
In these uncertain times, keep your head up and eyes wide open. Be ready for short-term sprints. Improvise. Overcome your challenges quickly.
Produce regular meetings with the team that is executing the plan. Make sure your team understands the big picture, the mid-ground and the tactical foreground even though things may change. Help your team become managers of the plan. This will take time, but it is well worth the effort.
Review the skills of your management team and determine what skill sets they need to thrive. Help them.
Work on an exit plan even if you don’t plan to transfer ownership anytime soon. The skill to design and execute a plan that increases enterprise value is what you’re after, in addition to the specific individual pieces of the plan like increasing revenues, improving route density, enhancing profit margins, or reducing the cost of financing new equipment.
Get real close to your best customers. Engage in the relationship. What challenges do they face? How will their needs change as vaccinations become more commonplace?
How sustainable are your customer contracts? Your future growth? Work on your sales and marketing and new product development. Place a laser-like focus here.
Keep a vigilant eye on expenses and cash flow. Stay alert.