Here’s What You’re Missing…
Every now and then, a book comes around that changes the minds and worlds of business owners around the world. Mike Michalowicz’s Pumpkin Plan is that book. But before we go into too much detail, let’s start with WHY it’s a good read. Americans start one MILLION new businesses on a yearly basis, but only 20% of those new businesses survive. Why? Typically, one or more of the following reasons is at fault:
- Lack of capital and/or funding
- Poor inventory management
- Bad choice of location
- Poor credit arrangements
- Unexpected growth
- Lack of experience
Mike knows the challenges listed above all too well. When he was trying to build his first business, he felt like he never had any money left over after paying all of his expenses. Eventually, he was working 24-hours a day (or what felt like it) and absolutely exhausted trying to keep up with client demands. Then he read an article about a local farmer who worked at pumpkin growing. This local farmer was committed to growing the largest pumpkins around – so committed, in fact, that he worked out a unique “pumpkin plan.”
In the book, there’s a story about “that guy” – the one who gives his life to his business and doesn’t have much in return. This acts as the foundation of the book. He outlines the pumpkin patch process found in the farmer’s plan and how it can be applied to businesses in virtually any industry. After each section, there’s a “work the plan in 30 minutes or less” summary. It’s that simple – no worksheets, no shortcuts, and no cutting corners. The best part? It’s all about who you ARE more so than what you do – because we all want to avoid being “that guy.”
The Pumpkin Patch Process in 7 Simple Steps…
Mike began following these steps in his business world – the very steps that can be found in the book:
1. Plant the right seeds.
2. Water, water, water.
3. Remove all the diseased or damaged pumpkins from the vine.
4. Weed like crazy.
5. Remove less promising pumpkins that are still on the vine to focus on the best ones.
6. Pay special attention to nurturing and guarding your one special pumpkin.
7. Watch it grow.
And what do you know… The pumpkin plan was working. Mike saw his business grow, his hours shrink, and his profitability increase over time. Each day, his business became bigger, healthier, and more exciting to be a part of.
What Makes Pumpkin Planning So Effective?
Let’s break down how incredible this simple strategy really is…
- Planting the right seeds refers to identifying the things you do best and focusing your attention, money, and time doing that.
- Weeding out the losers refers to getting rid of customers who don’t add value, and instead, cost you money.
- Nurturing the winners refers to discovering who your best customers are and giving them the best possible service.
- Weeding often refers to watching for any sort of issues or customers that slow you down or take your attention away from the winners.
- Removing the less promising pumpkins refers to both customers and bad business processes that need to be eradicated.
- Nurturing your prize pumpkin means paying the most attention to the vendors and customers who make you more successful.
- Watching it grow is all about making mental notes on what’s working, what’s not working, and how to do more of the behaviour that’s bringing you growth.
Go ahead and check out The Pumpkin Plan. See for yourself why so many successful entrepreneurs are raving about this incredible book.
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