We, in business, use the term “Bus” often as an abbreviation for business and we have a habit of saying “threw them under the bus” as an euphemism for blaming someone for something that didn’t work. Thanks to Jim Collins, we also use the terms “get the right people on the bus and in the right seats” as he explains in “Good to Great” about people in the company and the company is the Bus. The bus really is a good illusion for business in many ways.
Like a business Plan, a Bus has:
- Vision – a school bus is taking children to obtain higher education – very lofty;
- Mission – safely deliver them on time to the school on a regular basis;
- Core Competencies – children are treated fairly; safety is first, bullies are contained;
- Desired Outcomes – Arrive safely and on time; and
- Projects – service bus, clean bus, greet children, assure parents.
I also like that if a bus is a business it would have financial statements that the owner (driver) would want to look at regularly. The combination of a business plan, financial statements, and other metrics are great ways to track your definition of success. Success in business is what you define it as but financials are important – especially to banks, IRS and employees wanting paychecks.
As a business owner, getting your plan in order and knowing where you are on that road is key to not missing the bus AND being a great Bus Driver. Changing Lanes and the Maumee Chamber will be presenting “Understanding Financial Statements“, a good way to get started on the road to best BUS practices.