Sheehan & Associates, P.L.C.

Business planning can make the stress of ownership manageable

It is pretty safe to say that no one has ever remarked that starting a business was the easiest thing they have ever done. Owning and operating a company takes work, and it is more than likely that mistakes will be made along the way and that unplanned surprises will arise. Business planning can help a company owner in Michigan or elsewhere better handle the stresses of ownership.

Starting a business takes a lot of time and commitment. In fact, so much time may be invested in getting a company off the ground that one may feel he or she has no time for anything else. Setting goals and listing priorities can help this lack of sufficient time seem more manageable. Eventually, as goals are met and the business develops, this aspect of things is likely to improve.

Something that goes along with having little time is the need to handle all work-related responsibilities. Handling marketing, accounting, customer service and sales -- among numerous other positions -- can cause issues if each role is not adequately performed. One may have great marketing techniques, but poor customer service can lose business and bad accounting can hurt a company's bottom line. Sufficient planning can help with this so business owners are not too overwhelmed by such responsibility.

Taking the time for business planning can certainly help reduce the stress often felt with opening a company. Planning for growth and setting clear expectations and goals can help new and established business owners in Michigan better see where they want their companies to go, how to get there and, down the line, what changes may be needed to succeed. An experienced business attorney can assist in the planning stages by offering guidance and by ensuring all legal bases are adequately covered before and after a company gets off the ground.

Source: USA Today, "Strategies: 9 surprises you get running a business", Rhonda Abrams, June 19, 2015

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Sheehan & Associates, P.L.C.
1460 Walton Blvd , Suite 102
Rochester Hills, MI 48309

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