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If a complex business plan is too much, ease your way into it with 90-day instalments.
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When Mike Bossy talks to farm clients about business planning, he likes to start simply. Rather than launch clients on a deep and complex planning process, he poses two questions.
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“I’ll ask: ‘what has to happen in the next three years – personally and professionally – for you to be happy with your progress?’” says Bossy, a Woodstock, Ont.-based chartered professional accountant and partner with Bossy Nagy Group Professional Corporation.
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Three years can feel like a long way out. Bossy asks clients to instead think of 12 periods of 90 days each. “Then I’ll ask: ‘what five things will you get done in the next 90 days?”
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In Bossy’s experience, the first 90-day period could yield important progress or more likely a mixed bag of accomplishments and misses. Even apparent failures can be important learning opportunities. The five-things-in-90 days approach gets the client accustomed to thinking in terms of goals and actions, with a time factor built in.
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Bossy recommends that clients share their 90-day actions with farm partners, friends and family. This adds accountability.
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Within one or two 90-day periods, farm clients are thinking differently about planning and even getting to enjoy the process.
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“Big plans tend to stay on the shelf,” says Bossy. “You can make things happen with a modest approach. Then we can begin to look at strategic planning, business planning, estate planning and more. The key is to simplify.”
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Looking for ideas your farm can use? We’re here to help.
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