Business planning can feel extremely overwhelming for any entrepreneur, but if you have a roadmap to success, it makes it feel a little easier to achieve. Today on The Coaching Equation, we are joined by the incredible faith-driven business coach and author of Ultimate Breakthrough Planning, Mike Ferrell, to discuss the importance of business planning and how to get on top of it. Tuning in, you’ll hear about Mike’s non-traditional career, why he prioritizes his curiosity, his books, how the financial crisis of 2008 changed everything for him, and how he came out of his darkest times. We delve into what inspired him to create his five Monk principles and a breakdown of each of them before Mike explains how they can be the key to business planning. We even discuss why creating a foundation and business planning are imperative to your business’s long-term success. Finally, Mike shares some tips for simplifying business planning into manageable, bite-sized steps. To hear all this and even be reminded to celebrate your successes, be sure to press play now!

Key Points From This Episode:

• A warm welcome to today’s guest, Mike Ferrell.
• Mike tells us about his professional golf career.
• Where Mike’s entrepreneurship journey began.
• The importance of maintaining curiosity as a coach.
• How to maintain or recapture your curiosity.
• Mike’s first book and the financial crisis of 2008.
• The greatest gift Mike was given during his hardest time.
• What informed Mike’s decision to dig himself out of this hole.
• The five Monk principles he created from The Rule of Benedict.
• One: virtuous conversation – living positively.
• Two: community – why community is the foundation of culture.
• Three: stability – how an organization operates.
• Four: excellence – innovation and how to create positive change.
• Five: profound hospitality – internal and external.
• The importance of planning and building a foundation for your business.
• How to simplify business planning so it becomes approachable.
• Why you need to celebrate your success.

Links Mentioned in Today’s Episode:

Mike Ferrell

Mike Ferrell on LinkedIn

Ultimate Breakthrough Planning

The Sweet Spot

The Rule of Benedict

Ryan Lang on LinkedIn

Brook Bishop on LinkedIn

Empire Partners

Empire Academy

The Coaching Equation Podcast on iTunes