Individual Development Plans

It is important to keep your goals on paper and ready for review and adjustment. I present to you, my humble individual development plan as I step into a new roll as small business owner.
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Individual Development Plan

Name – Tyler Matney
Title – Business Owner
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Competencies – The strengths I will be bringing to the table are abundant but I am humble and fully aware that I will need to development and improve on every front including this list of the top three that will aid in my success.

1.      Empathy and passion – I am fully aware of the fact that I will be holding the financial welfare of my employees in my care. I have always strived to aid others in their personal development. I became a professional trainer for this reason above all others. In this role I will be working with my team to not only grow this business, but allow them to grow with it.

2.      Broad vision and planning – I am a planner, and I enjoy looking far into the future when making present day decisions.

3.      Customer Centric – I love to please, and in the face of customers who keep my business running I will offer them a level of customer service they have never experienced.

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Weaknesses and Areas for Improvement – I continually work on all aspects of my professional skills, but these will be especially important.

1.      Money Management – I will be running on a “shoe string” budget for the first year. I will need to keep very close tabs on any and all unnecessary spending. I am one to attempt to implement technology solutions whenever possible, but for the first year I will need to exhibit patience and discipline to make sure the working capital is always available and not being used prematurely.

2.      Patience – I already know in this business I will be working with employees that are often lacking ambition. I am such an ambitious person that this can be a point of frustration. I am confident I can use my empathy to overcome this, but I know my patience will be tested regularly.

3.      Controlled Growth – I have such massive ambitions to grow this business that I need to be careful to not create a lack of resources to support the sales.

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Business and Development Goals – I have combined these two, so I can maintain a clear path for both myself and the business.

Long-Term – The long term goal is to build a business through careful planning, patient execution and world class customer service to the point that the business can be sold for at least $1M.

Short-Term – The short term goal is to get the business to a profitability level that allows for the onboarding of an operations manager. This key position will free me up to grow the business through sales and marketing and not be bogged down with operations.

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Next Assignment – The first goal is to gain the confidence of the current staff and grow the business to the point that they are working full time. I am aware of their concerns over the lack of business, and keeping them busy with full time work is paramount to their commitment to the business.

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Training and Development Needs – I will be networking with other small business owners that I already know to learn the best habits to success. I will also be consulting with a small business advisor, other franchise owners, accountant and previous owner of the business I am buying to make sure that changes I am implementing are getting the correct responses and the business is gaining traction.