Business Planning in Omaha – January 2022

Just as many of us make our own personal goals at the start of a New Year, businesses often do the same. This is a great time to reflect on your business’s previous year and map out your vision for 2022. What goals do you want to reach? Where are you currently on the path to these goals? What will you do to get there? These are important questions to ask yourself to help you
create a clear picture for the New Year. We wanted to learn more about business planning for 2022, so we reached out to several professionals in the Omaha community that can help us all reach our business goals and beyond.

Develop a Clear Vision

Do you have a vision for 2022, but you don’t know where to start? Do you feel like your team supports you, but you don’t see the movement that you desire? Get in touch with Teams.Coach (teams.coach) for leadership coaching, consulting, strategic planning, and executive coaching tailored specifically to help all types of leaders and organizations take necessary steps to go further, faster. Business Leadership Coach Michael King can help you and your team clarify and execute at high levels. Michael is a seasoned business strategist and leadership coach with close to 20 years of hands-on experience, and has trained some of the country’s leading firms and organizations ranging from churches and nonprofits to the music and entertainment industry.

“I can work with senior leaders in your company all the way through full team engagement to discover gaps in performance, culture, blind spots, establishing new goals and the plans to achieve them, evaluating overall engagement, and help leaders (and their teams) to get unstuck,” said Michael. “My favorite part as a coach is when I see my clients win – when I see them start to dream bigger and better things for their life and for their teams.”

The success of your company in 2022 relies greatly on a solid team effort that’s facilitated by a leader who’s clear on the company’s vision, and the capacity to lead their team toward the realization of that vision. In addition to helping your company develop a clearer vision, Michael can also guide you through the step-by-step process of developing strategic plans and practices that will help you reach your goals for your company and improve profitability.

“My advice for businesses – big or small – is to prioritize your remote culture strategy as well as your digital strategy, even if you don’t have one,” said Michael. “You are still the leader of your team even though they might not be in your building. Leading a team that is remote requires intentional development. The very fabric of your culture is at stake and the foundations that have been developed over the years are now insecure at best. That’s a hard reality to face.”

Michael reminded us that while it’s simple to think that managing a team working from home will be easy, the reality is that it can be quite the opposite. Remote work comes with massive emotional and psychological effects, so there are specific things that he coaches his leaders on to make sure that this paradigm shift is a powerful one. Michael wants readers to know that if there is just one thing you should talk with him about, it’s this!

“When it comes to digital strategy, remember this,” he began. “Before 2019, you were a brick-and-mortar business with a digital presence. Now, you are digital business with a brick-and-mortar presence. Small shifts in your perspective can have significant and powerful results. The things we develop for the brick-and-mortar experience don’t always translate to the digital experience. Start with digital in mind. Your odds of this translating into your brick-and-mortar presence are significantly higher.”

To execute these strategies, Michael uses his signature T.E.A.M.S. Methodology:
• Targets – clear and actionable goals and KPI’s
• Engagement – universal participation and aligned healthy culture
• Action – repeatable and sustainable systems and processes
• Momentum – contagious energy from unquestionable action
• Synergy – chemistry and collaboration amongst the team

Reach out to Michael today to take advantage of all the benefits that Teams.Coach can bring to your company in 2022!

Get Ready to Grow

If you put a hold on trying to expand your company in the wake of the pandemic and all the trouble it placed on businesses, Cruise & Associates (cruise-associates.com) wants you to know that now is the time to begin to transition into a state of growth.

“Many of your competitors may not be trying to expand because they are still operating in conservative mode,” President Robert Cruise explained. “One of the best ways to grow is through marketing, which is often overlooked. Business owners make the mistake of treating marketing as an expense instead of an investment. When their business is doing well, owners don’t feel marketing is necessary and wait until something happens before trying it. To get your business to grow and expand, you need to invest in marketing and have a plan. Business owners need to look at marketing as a marathon and not a sprint. It builds on top of each other, and what you do in one year will affect the sales and growth the following year.”

Robert says the best way to make sure nothing is getting overlooked is to create written goals for 2022. By taking the time to write things out, you are providing for yourself and your employees focus and clarity for the business. If you don’t know where you are going, you aren’t going to know how to get there. Some key areas to look at when coming up with goals include sales and growth, re-evaluating inventory, and adding new products or services.

It’s also crucial to keep in mind the laws of the country that are ever-changing. Business owners need to monitor the pending tax changes that could drastically affect their business. If these changes pass, it is important to meet with your accountant to make sure you understand the new laws and ensure that they won’t negatively impact your business.

“As a full-time accounting firm, Cruise & Associates can help provide direction by meeting to do tax and business planning, lease negotiations, and cash flow projections.”

Connect with your Bank

Be sure to schedule some time to meet with your business partners at the start of the year to discuss goals and plans – this includes your bank, CPA, attorney, and financial advisor. They can be a vital resource in planning for the year ahead and keeping you updated on any changes in law and the way you can run your business. Allen Chaffee, Omaha market president of Cornhusker Bank (cornhuskerbank.com), offered some advice for your 2022 business planning.

“Talk to your banker about use of capital for the coming year,” Allen recommended. “Figure out what is the right amount of cash, debt, and equity needed in the business to make it successful. Recently, debt has been cheap, but economic factors can cause rates to increase and a business needs to understand how that affects them. When setting goals, businesses should take into consideration increases in interest rates, input costs, and labor expenses. We can help you map out your plan for 2022 with these things in mind.”

Allen reminded us that in the banking world, technology and automation are constantly improving and changing. Clients should take full advantage of these improvements, but it is still very healthy to have a strong relationship with your bank and banker. “Your banking team can have a big impact on your new or existing business,” said Allen. “Banks can assist businesses with loans to help their business grow, but we can also be a connection tool for community partnership, real estate opportunities, labor needs, and centers of influence.”

Whether you’re starting out or expanding your operations, the Cornhusker Bank team is here to help your business move forward. Their experts live and work in the community and understand the local environment. When you work with their knowledgeable staff, they build a trusted relationship with you and your team, understand your business, and deliver smart, personal advice that helps you navigate the future, no matter what it may bring.

“Cornhusker Bank has so much to offer in terms of business planning, so please reach out to us today to get a head start on your goals for 2022.”

Accounts Receivable

Aaron Newell, Founder of AR Solutions (arsolutionsinc.com), also offered some advice for 2022 business planners. Closely analyze the previous year, as it can provide valuable lessons that you can apply to your New Year business strategies.

“Take an honest look at your strengths and weaknesses. That will help you determine what you can do to be more efficient and where you should be spending your time and effort versus what would be best to put in the capable hands of a professional,” Aaron offered.

By freeing up your time to engage in activities that are generating revenue for your business, there will be more of it. In addition, by investing in the services of the professionals who are focused on doing what they do best, you’ll benefit from better results.

“With accounts receivable and collections, in particular, it takes time, effort, and consistency to get the best results,” said Aaron. “Then there are the complexities involved with the legal aspects of collections to take into consideration. By partnering with AR Solutions, you’ll be assured that you’re protected legally, that your reputation is being upheld by our representatives, and that we’re working hard to collect on your past-due accounts. The collection industry has changed immensely in the last 10 years and AR Solutions understands, as you do, that it’s time for a new approach—one with real answers and real results.”

Insurance and Benefits

The New Year may bring new rates for health insurance, business liability insurance, automobile insurance, umbrella policies, and other types of insurance. Insurance coverage for your business is essential, so now may be the time to shop around for a new quote to be sure you are paying the best price for the best plan for your business and employees. A great agency that can help you with your insurance needs is Universal Group, LTD (universalinsgroup.com). They are an independent insurance agency, brokerage, and consulting firm that serves clients in all 50 states.

“If you run a business, then you should discuss your insurance needs in detail with a knowledgeable insurance agent or broker,” said President Dan Headlee. “Be totally open about your business to ensure that you will be purchasing adequate coverage. Make sure you know what’s covered and what isn’t —you don’t want to run into any unpleasant surprises later in the year — and review your coverage periodically as your business evolves. Once you know exactly what kind of policy or policies you need, you can compare prices from different insurance companies and look for the best value.”

When looking at insurance plans, Dan suggests asking yourself a few insurance questions to give you an idea of what plan you should be purchasing. To start, is your company sufficiently covered in terms of liability, and does it have adequate fire and health insurance? Are there any new insurance carriers that might be able to provide a competitive quote? Has your business taken on any new assets or business interests that haven’t been accounted for and protected by existing policies?

The team at Universal Group will help you find the best insurance plan for your business. They can help with everything from business owners insurance, workers’ compensation, and general liability to liquor liability insurance, environmental insurance, and crime insurance. Universal Group can also assist you with employee benefits.

“We can help you design an employee benefits program that makes sense for your company and your employees,” said Dan. “When you have a great benefits package, you can better attract, retain, and protect your team.”

The advisors at Universal Group make it their business to understand your world inside and out. They are there to help you through all the changes in your business. Whether you are adding a partner to your business or revamping your employee benefits plan, they’re focused on the needs of your business and employees.

“We are more than happy to discuss your insurance and employee benefits options in person, but if you’re in a crunch, visit our website and fill out the online request form for a quote,” said Dan. “It just takes a minute! One of our agents will be in touch with you shortly after to discuss your options.”

Have you mapped out your 2022 business plan yet? Knowing where your business is at and what your annual goals are is important in ensuring the success of your business. We recommend reaching out to these local businesses and professionals to prepare your business for another year of success!