N
o matter the industry, generally each busi-
ness owner has a long-term goal in mind.
Distributor and service providers' long-
term goals could be something far-reaching they
hope to accomplish for their business, whether
that's related to how many storefronts they open,
how many service shops they operate or how much
capital they hope to earn.
There are many separate and distinct ways of
reaching a fi nal goal, and planning carefully is an
important part of that process.
In developing plans to reach ultimate goals, it
can be useful to separate planning into phases. This
allows for a business to track immediate improve-
ments while evaluating progress toward eventual
goals and targets.
The different time frames of the planning process
place the focus on time-sensitive aspects of the com-
pany's structure and environment.
Dave Settles, president of Weldon Parts, says his
company talks about its plans for the next several
years before business planning each year.
"We talk about the things that we want to accom-
plish three, four or fi ve years down the road, but we
only sit down and put on paper what we are looking
at for that year," Settles says.
13
Cover Story
W W W . T R U C K P A R T S A N D S E R V I C E . C O M J a n u a r y 2 0 1 7 | T R U C K P A R T S & S E R V I C E
big
How a good
business plan can
help you build
for the long term
while planning for
the short term
