129 - Are you Planning to Fail, or Failing to Plan?

In this episode, Kirsten Flory discusses the importance of preparation and planning for your business.  It's easy to get excited about a business idea, then forgo the integral planning phase.  If you don't know where you are going, then when will you know when you've arrived? In any phase of business, from the initial start to getting ready to scale, planning for your business can take a lot of the guesswork out of how you run your business. Key Takeaways: Use free resources like the Small Business Administration to help research your market Understand your competition and what sets you apart Evaluate what you truly need in your business to be profitable Track your finances (not just your revenue, but all expenses) Consider carefully overspending on social media and marketing campaigns   Kirsten Flory is the President & CEO of Foundations Commercial Real Estate and host of The Small Business Mindset.   www.kirstenflory.com