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• JANUARY 24, 2020 • Midlands Business Journal
2020
BUSINESS PLANNINGin A section prepared by the staff of the Midlands Business Journal
January 24, 2020
Write it down: Business plans essential to growth, sustainability by Jasmine Heimgartner
Well into the new year, many people may have already given up on their resolutions or have foregone them all together. Any business, new or old, hoping to grow or maintain their success should have one resolution that sticks: establishing, setting and revisiting their business plan. “Forming a business plan is essential to operating a successful business no matter the size, especially for a new business,” said Justin Hochstein, attorney and financial advisor at Hochstein Strategic Legal Planning. “The first step is coming up with the plan. Drafting a formal plan is a form of goal setting. Everyone has goals they set, but writing them down and keeping them in front of you and on top of your mind is essential in getting a business off the ground or a successful one staying stable. It is a roadmap for defining the product or service being providing and the direction you want to take it.” Taking a business from point A to point B requires a little more than just scribbling down ideas. Developing a business plan is building a foundation for a business and a path for understanding what, where and how business will be done. It serves as a way to realistically spot issues that may happen down the road and ways to address them. While a baker may just want to bake
Allan Hale, SCORE volunteer and executive director of the National Electrical Contractors Association, Nebraska Chapter. or a groomer just wants to groom, there business plan doesn’t have to be an arduous is another imperative side to owning and or time-consuming task. operating a business. Even if finances or “Business plans don’t have to be writing aren’t one’s forte, developing a complicated, and many people tend to go
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online and see complicated plans and get discouraged,” said Allan Hale, volunteer at SCORE. “Think of a business plan as a way to organize your thoughts regarding your business and writing it down. The main elements include a summary of what your business is and what you plan on doing. Next, you need to determine what your marketing plan will be. In other words, who is you target audience? Finally, what are your financial needs and what sales and expenses will you have?” As more importance is being placed on mission statements, values and visions, incorporating in a business plan ensures everyone involved is on the same page. Revisiting them also serves as a checkpoint to realign changes that are impacting established goals. “The vision and values of the business are really what drive it,” Hochstein said. “If how your business operates is not in line with your vision and personal values, or that of your team, it will keep people from moving in the same direction. In your plan, you should set short-, medium- and long-term goals, breaking them down into attainable and achievable goals to get some wins under your belt.” The modern era has made developing and sustaining a plan easier than ever. Instant access to information can mean easily finding existing plans that can be borrowed from and revised to be unique. Social media and other resources enable people to more extensively research and boost marketing. “The shift towards social media marketing has been incredible,” Hale said. “Your marketing dollars are significantly less, and you can track your impact. Focus is another plus when you can profile your customer and market directly to them. You can also utilize your own network that can help you market.” No matter how complicated or simple a plan is, finding trusted mentors or developing a unified team can ensure the roadmap is adhered to and makes sense. “Every business is different, and each idea has merit, but getting a mentor that has experience is very helpful in working through the business planning process,” Hale said. “SCORE can match you to the mentor that best fits your business and can walk you through the process. The best way to start is to get that one-page summary of your business and how you plan to make a profit and you are on your way to creating a quality business plan.”
Reap!
Business Planning — inside JANUARY 24, 2020
THE BUSINESS NEWSPAPER OF GREATER OMAHA, LINCOLN AND COUNCIL BLUFFS
THIS WEEK 'S ISSUE:
$2.00
VOL. 46 NO. 4
Green House Data targets Omaha with Deliveron acquisition by Richard D. Brown
Blackbird Co. focuses on holistic care, interconnected beauty. – Page 2
40 er d Un 40 Anderson driven to serve others as a health care professional. – Page 3
ss ine us ges B ln Pa co al Lin ourn J
MembersOwn Credit Union expands footprint as it gives members rebates. – Page 27
With its recent acquisition of Omaha-based Deliveron, a 14-yearold home-grown technology consultant that is coming off a 40% growth in revenues in each of the past two years, Green House Data — a multistate digital transformation services provider — plans to build a strong footprint in the Midwest. Wyoming-based Green House Data, a privately-held company with 150 employees founded in 2007 by CEO Shawn Mills, CIO Cortney Thompson and CTO Thomas Burns, has grown by making one acquisition annually over the past five years. In addition to Wyoming, the firm has a presence in Washington, Colorado, Texas, Georgia, New York and Toronto, Ontario. “We have a nationwide search for companies that excel in providing digital transformation services and Omaha rose to the top of our list,” Mills said. “Deliveron provided a high level of service to providers nationally and was seeking to expand its capabilities in digital transformation services. We’re convinced that OmaContinued on page 9.
From left, Deliveron founders John Weland and Lucas Sahm … The firm’s acquisition comes as it sees opportunities for continued growth. (Photo by MBJ / Becky McCarville)
Strategic growth spurs expansion for Omaha-based Meridian Clinical Research by Becky McCarville
Meridian Clinical Research, an Omaha-based clinical trial company founded in 1999 by CEO Nicole Osborn and Lori Connolly (retired), over the years has established 20 investigative sites primarily in Midwest and eastern states and expanded its therapeutic investigative capabilities. In 2019, its 20th year, the company made its first acquisition
with New York-based Regional Clinical Research. Meridian Clinical Research is known in the industry for its vaccine-related studies, from influenza vaccines to pandemic-related vaccines. In fact, Meridian was the first site in the country to vaccinate for the Ebola virus, which was recently fast-tracked and approved by the Food and Continued on page 9.
Vice President Robb Vacek and owner Jim Horwath … Fourth-generation family leadership point to low turnover, longterm manufacturer and customer relationships to the distributor’s surpassing the century mark.
Horwath Laundry Equipment marks 100 years; focuses on automated systems opportunities by Michelle Leach
CEO Nicole Osborn … In its 21st year, clinical investigational research company growing with its first acquisition and adding investigative research sites across the United States.
On the heels of World War I, Austrian emigrant Andrew “Andy” Horwath started the wooden wash-basket business that eventually evolved into Horwath Laundry Equipment, a fourth-generation, family-owned commercial laundry machinery, parts, and services distributor with locations in Omaha and Rapid City, South Dakota.
“We sell and service commercial laundry equipment in Nebraska, South Dakota and western Iowa,” said owner Jim Horwath. “We have equipment in 1,500 facilities … hospitality, health care, fitness [and] athletic, laundromats, correctional and government institutions. The equipment we sell ranges in size from what you see in laundromats Continued on page 10.