Last week, I spoke on The Three Laws of Empowerment at Tech Ranch. http://techranchaustin.com/ The room was full of a great group of entrepreneurs, and there was a lot of interaction in the room, and as always, I learned a lot from others when I spoke. One of my goals is to have a two-way conversation going during a speech and to learn about my audience and what they see, and then to address their concerns. A couple interesting topics came up from the conversation.
#1 Planning. Is planning still needed or is planning an outdated concept? Some of the audience thought that the concept of planning was outdated, so we had a conversation about that. Digging deeper, we found even though some people feel the long, detailed business plans are outdated, they still understood that planning is needed. Things do need to be planned. Things do need to be developed and implemented, so maybe the term “planning” just feels too stale for people, and that’s something for all of us to think about when we’re in conversations with others.
#2 What you do when you’re the only owner of a business. Do really all these laws of empowerment apply? Do you really need to do a lot of the planning that other people would need to do? I think the answer is yes. You still need to address things, if you’re a single-owner business. You still need to have your plans for developing. You still have to understand how you’re going to deal with contingencies. You still have to understand when you are moving forward to figure out who your stakeholders are, and how you’re going to protect them.
It was a great conversation, and we’re going to develop some of these topics into separate blogs, so please keep an eye out for that. What are your thoughts on empowerment? What challenges do you have? What do you think about the needs for plans? What do you think about the needs for strategic decision-making if you’re the only owner of your company? Let’s discuss in the comments below.
This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. This article should not be treated as legal advice to any person or entity. Freeimages.com/ Davide Guglielmo.
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