The Pumpkin Plan Will Revolutionize Your Business!
People come up with great ideas for new start-ups each year. In fact, Americans start one million new businesses annually. Guess how many of those actually make it? Only about 20 percent survive to five years. The reasons vary.
Poor management of resources
Unable to meet customer demands
Wasn’t a good idea to begin with
Mike Michalowicz was in that boat. He was trying to build his first business. It was doing okay, but he never had any money left over after paying his bills. He was trying to do everything himself, which often happens in new start-ups. He was exhausted working 24 hours a day.
Mike was about to give up when he read an article about a local farmer who worked at pumpkin growing. He was committed to growing the largest pumpkins. This farmer was so dedicated to achieving the goals that he had worked out a unique “pumpkin plan.”
His 7-Step Plan to “grow a pumpkin” was simple but it included some vital steps that Mike realized could be used in growing a business. He studied the farmer’s plan, then decided to try it in his own company. After all, what did he have to lose? So he began following these steps in his business world:
Plant the right seeds.
Water, water, water.
Remove all the diseased or damaged pumpkins from the vine.
Weed like crazy!
Remove all of the less promising pumpkins that are still on the vine. Focus all your attention on the best ones.
Nurture your one special pumpkin. Put all your attention on this pumpkin; stand guard over your “baby.”
Watch it grow.
Mike was stunned to see that the pumpkin plan was actually working. His business started to grow. Plus, he didn’t have to work such long hours anymore. Eventually, his company grew so fast that he could hardly keep up. He found that he could actually watch everything unfolding just the way you can watch a pumpkin growing on the vine. Each day, it gets bigger and healthier.
Mike thought about what a simple strategy this was, and how others could use it to grow a successful business in any sector. He took the farmer’s notes and developed them into a business plan that anyone would be able to understand and utilize:
Plant the right seeds: Don’t waste time doing a bunch of different things just to please your customers. Instead, identify the things you do best and focus all of your attention, money, and time doing that.
Weed out the losers: In a pumpkin patch small, rotten pumpkins stunt the growth of the robust, healthy ones. The same is true of customers. Figure out which customers add the most value and provide the best opportunities for sustained growth. Then ditch the ones who are costing you money.
Nurture the winners: Once you figure out who your best customers are, give them excellent care and customer service. Learn about them. Discover their unfulfilled needs. Work hard to make sure you’re delivering on every single promise!
Weed like crazy: Watch for issues that slow you down or cost you money and eliminate or remediate them.
Get rid of the diseased pumpkins: In an effort to please everyone, you can develop some bad business processes. Recognize and eradicate them as quickly as possible.
Nurture your prize pumpkin: You’ll no doubt have business relationships that benefit you more. These are people including vendors and clients who improve the products and services you deliver. Work with these people and build up the most successful business relationships.
Watch it grow: Make mental notes on what you’re doing right and why it’s working. As you recognize the things you’re doing that have brought about success, this behavior will become second nature to you.
If this sounds like something that would benefit your business, you might want to check out The Pumpkin Plan. This book guides you through these 7 strong strategies that can help you build a profitable company. It can save you time on your journey to becoming a successful entrepreneur.
If you liked this article, there are many other helpful businesses and IT tips on our Blog. Here are a few examples that should help you grow your business in Redding or Fresno like a pumpkin!
Download Our Free Guide To Selecting A New IT Firm.