{"id":110,"date":"2017-07-08T13:14:37","date_gmt":"2017-07-08T13:14:37","guid":{"rendered":"https:\/\/www.saudercpa.com\/blog\/?p=110"},"modified":"2017-07-07T13:14:57","modified_gmt":"2017-07-07T13:14:57","slug":"your-destination-a-business-map","status":"publish","type":"post","link":"https:\/\/www.saudercpa.com\/blog\/2017\/07\/08\/your-destination-a-business-map\/","title":{"rendered":"Your Destination – A Business MAP"},"content":{"rendered":"\n\n\n
Your Destination –\u00a0A Business MAP<\/strong><\/p>\n

Credits: Donald J. Sauder, CPA<\/em><\/p>\n

Twenty years ago a man walked up to me at church and inquired point blank, \u201cIf you get where you are going, where will you be?\u201d It\u2019s clearly important; destination matters. You don\u2019t get lost driving to a local\u00a0venue for the tenth time. The danger is when you step outside your comfort zone into a new responsibility, new product, or new service area in your business.<\/p>\n

The Chinese Admiral Zheng didn\u2019t make seven successful voyages to Arabia, East Africa, India, Indonesia, and Thailand in the 1400\u2019s\u00a0 A.D. without planning. The important fact is that he had a destination in mind, then planned appropriately. He also had a very high quality map, or he wouldn\u2019t have gotten back to China too.<\/p>\n

Entrepreneurism is very similar. You need to map out a plan to reach your destination. Few entrepreneurs invest the appropriate time to think through their business endeavors. Why? Do they think they\u2019re too busy? Do they think it\u2019s time and money wasted? Would a plan require too much energy? Do they already know in their mind where they want their business to be in three years or five years?\u00a0\u00a0 Maybe they\u2019re simply satisfied with the status quo.<\/p>\n

A Business MAP, a Marketplace Assessment Profile, is a good tool to help you reach your business destination. A Business MAP is a business planning tool that helps you make sense of your business: the services and products viability in the marketplace, your business\u2019s competitive advantages, industry risk, resource risks, opportunities, and value drivers. A Business MAP looks at your business on both a macro and micro scale and provides a guide for your businesses future. A Business MAP helps you plan your business destination, whether it\u2019s organic expansion, a gear-up for sale, etc. Studies show that people forget 50-80% of what they\u2019ve learned after one day, and 97-98% after a month. You must map your plan on paper for it to be of any value. Those who do, and follow it with a\u00a0single purpose, (there are lots of distractions) \u00a0often harvest, not double, more like 30-, 60-, or 100- fold, of the initial investment.<\/p>\n

There is often a reason for a chosen destination. If the destination for your business is $5 million of revenue, $50 million or $500 million, remember this: you won\u2019t get there alone. You will need a articulate plan and vision to convince others to join you and help achieve that plan. You either have a plan with a vision, or you become part of someone else\u2019s.<\/p>\n

If you don\u2019t have the time to plan and map in detail the vision of your business, you will never have time to reach the destination of your vision or to recognize when you get there. If you\u2019ve built one or more successful entrepreneurial businesses, then it will be easier to build on prior successes; but if you\u2019re just entering the entrepreneurial world, or experiencing only mediocre developments, or experiencing pain points on the current path,\u00a0you\u2019re best advised to retain advisors who can help you\u00a0map a plan\u00a0to\u00a0arrive at\u00a0your destination successfully.\u00a0Chance favors\u00a0the\u00a0smartest decision\u00a0as getting\u00a0the right advice early <\/em>with mapping and working toward your business destination, even if you\u2019re surprised at the cost upfront.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Your Destination –\u00a0A Business MAP Credits: Donald J. Sauder, CPA Twenty years ago a man walked up to me at church and inquired point blank, \u201cIf you get where you are going, where will you be?\u201d It\u2019s clearly important; destination matters. You don\u2019t get lost driving to a local\u00a0venue for the tenth time. The danger … Continue reading “Your Destination – A Business MAP”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/posts\/110"}],"collection":[{"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/comments?post=110"}],"version-history":[{"count":1,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/posts\/110\/revisions"}],"predecessor-version":[{"id":111,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/posts\/110\/revisions\/111"}],"wp:attachment":[{"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/media?parent=110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/categories?post=110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/tags?post=110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}