A few weeks ago, I told my wife that I was leaving for a full weekend business trip in Quebec City to work on our online company. This was our first “official” meeting where we would discuss exclusively about where our company is and where it is heading.
My wife, along with other friends, had a good laugh when I told them that we would be driving about 2 and a half hours to sit down in a café with our laptops. “Can’t you just do the same thing in Montreal and not leave for 2 days?” they asked me. They were also not so convinced that we were going to “work” the whole weekend.
The thing with strategic planning (to this extent) is that you need to escape from your world to make sure that you are not distracted by anything else. The time we spent in my car going to Quebec City was the perfect opportunity to slowly re-connect with all the matters to be discussed regarding our business. This was the time to also talk about all the other things that my friend and I had to discuss that had nothing to do with making money online.
Once we arrived in Quebec City, we were fully motivated and focused on what we had to do. What started 3 years ago as a hobby is now part of our daily lives, our monthly budget, our net worth growth and (ultimately) part of our retirement plan. This is why we need to spend more time and energy on it to make sure it keeps growing.
From 10am till 6pm, we were able to work full time with no breaks (not even to eat since we were eating at the café where we were working). This was really intense and we covered several major points:
- how much the company is worth
- our insurance coverage needs
- what needs to be included in the shareholders’ agreement
- design a contingency plan
- developing our strategy for each blog
- the launching of 2 new blogs (to be announced soon!)
- finding help (writers, virtual assistant, web design, etc.)
- talking about products (yup, we might launch products later on)
- reviewing our operating costs and cash entries
- exploring new opportunities
- looking to buy another blog (anyone interested in selling?)
After 6pm, we changed locations to have a beer on the terrace but we kept talking about the company for another good 2 hours. I was completely burnt after that hard day of working but my head and my heart were full of excitement.
My friend said something quite smart the next morning: “the cost of this meeting about 1% of our annual revenues. If we can improve our income by at least 2%, this cost will be covered”. The fact is, in the internet world, the 2% growth will probably happen in the next month.
So we didn’t spend money or time during this weekend, we simply made a major investment in our company. I just can’t wait to share more of our projects with you guys!
image source : Joe Shlabotnik
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