Sherwood Newkirk: Benefits of a Business Plan
When Sherwood Newkirk took over Sherwood Cleaning Services, he was taking over a business that had established strong community roots and support, thanks in large part to the efforts of his late father. Sherwood knew what made the business work, and in his first few years at the helm, business went well. However, he also understood that times would change, and what was working then would not in years to come. As such, he had to go revisit the business plan and adjust the strategies accordingly.
For many businesses, a business plan distinctively explains the operations, management, capitalization and marketing of the business. The plan captures in detail what the business is all about; its goals, vision and the strategies required to accomplish them. For the proper running of the business, the plan acts as a guideline.
However, what many business owners fail to realize is that business plans are rarely set in stone. The business environment is a dynamic one, and challenges will present at every turn. A wise business owner will adapt the business plan to the challenges, while also revisiting it to ensure the business is on track. Just like Sherwood Newkirk did when he adapted his business plan to the rise of technology and the increasing demand for cleaning services, so should wise business owners do with their plans in the face of adversity.
The business plan should be very detailed, says Sherwood Newkirk, and align every strategy with the overall goal of the business.
Sherwood Newkirk - Surviving Tough Financial Times
When the economy struggles, often the small businesses bear the brunt of such tough times. For business owners, the effect will show up in the form of lower sales or decreasing profits. As a result, many business owners will look for ways to save their business’s financial performance.
Sherwood Newkirk has operated Sherwood Cleaning Services for the past two decades. In that period, he has experienced the highs and lows that the economy has to offer. In the last economic downturn of 2008-09, he witnessed many small businesses close shop because they could not survive the tough times. His business had been around long enough to establish strong roots, but even he felt the impact of a bad economy. As a renowned business leader in his community, he is often approached for advice on how a business can survive tough economic times. He shares the following insights.
By this, Sherwood Newkirk means that business owners have to analyze whether their businesses meet the needs of the communities around them. In difficult times, people stick to products and services that add value. The challenge for the business owner is to revisit the business plan and determine which unique strategies can be added to ensure value-addition.
Assess your systems
Tough times are characterized by a need for efficient, resource-saving services. Analyze your business routines to ensure that they are working smoothly. Look at aspects like inventory management, budgeting, personnel procedures and sales strategies to ensure they are working well and making optimal use of resources. It is crucial to plug any leaks before they sink your ship.
Sherwood Newkirk - A Unique Individual
Sherwood Newkirk has operated Sherwood Cleaning Services for more than twenty years, a period in which he has grown the company to become one of the most respected in the small town of Knightdale, North Carolina. While he has grown to love the small town and its surrounding community, nothing about Sherwood’s tastes in music and hobbies speak of a man limited by his geographical location or humble upbringing. Indeed, to many of his friends, Sherwood is a unique individual.
Sherwood Newkirk’s knowledge of motorcycles is well-known in the small town. For years, bike owners have sought his advice when it comes to picking new a motorcycle or maintaining one. His love started at an early age, and as the owner of a few bikes in his lifetime, Sherwood knows more about motorcycles than his demeanor will sometimes let on.
Motorcycles are not his only passion. Sherwood Newkirk is also quite knowledgeable about cars, especially classic cars. In his free time, he follows the numerous television shows on cars, while occasionally taking in a car event in a nearby town. He also assists in local car shows held in his community, as through such engagement did he come to learn so much about cars. While classic cars are his favorite, he always looks forward to the concept cars introduced at major car shows like the Detroit Auto Show.
To top it all off, Sherwood Newkirk is a movie fan, especially of action films. He doesn’t mind the next Hollywood blockbuster, but given the option, he would rather sit back and enjoy a flick on the old cowboy movie, especially if it stars Clint Eastwood, John Wayne, Gary Cooper, or James Stewart.