Mark and Debbie Planck have run successful businesses for years, but even they realised they could be better.

The husband and wife team, who own Swan Boat Hire and Swan Bites on Bradman, are almost half-way through two workshops offered by the Sunshine Coast Business Academy: Getting Down to Business 2 and Succession Planning.

“We wanted to gain a deeper understanding of the businesses through analysis, to be more informed,” Mrs Planck said.

“Even though we had a business plan, I don't think we utilised it to its fullest potential. So now we are able to improve on some existing practices.

“We have management in place in our business, but we are still very involved in various facets.

“These courses have given us the opportunity to step aside and take a helicopter view and look at it from the outside in.

“We understand that we need to have the vision and come up with strategies to achieve the vision...and then pass all that on to the people who work with you.

“That gives us a better position to forecast and plan where we're going.

“In uncertain times it gives you a bit more control over where you're going, rather than just hanging on for the ride.

“You don't feel so helpless and it saves any nasty surprises.”

Mrs Planck said she had particularly benefited from the one-on-one mentoring from presenter Rod Richards as well as the chance to learn from the other 14 businesses in the same course.

“We recently worked out where we wanted to be by June 2010 and we brainstormed goals and put timelines on them.

“We talk a lot, but to actually put it on paper up on the wall makes everyone a bit more energised and that's how things happen.”

The Getting Down to Business program is subsidised by the federal government and academy managing director Leigh Rachow said this was the last one available, with the subsidy now suspended.

“The focus of this program is to develop the skills of the participants through interactive workshops and one-on-one mentoring, with the objective being that by the end of the 10-month program, they will be able to manage and improve their business through better financial management practices,” she said.

“We have completed two individual 10-month programs and have had unbelievable success. We have seen these businesses grow and develop into stronger and more viable businesses, working their way through the recession with effective planning and management practices.

“The number one challenge in business today is profitability, and the solution for making profit in a business is developing and implementing sound management practices, with a particular focus on financial management.

It is quite normal for a new business to be involved in every level of business activity.

Nicky describes micro managing as one of the hardest areas.

As there are a number of profit streams in the business, it is important to give some thought to setting out clear financial and business objectives – short, medium, and long term.

Nicky needs to consider assessing how effective and efficient her time management is.

Map out an average working week to assess, develop and improve the effective management of core business activities. A responsibility chart is useful in redefining roles and responsibilities (all staff and directors), and helps in determining future requirements.

Assessment of company resources can be helpful in identifying how efficiently they are being allocated to business activities.

Revisit the current business plan and compare budgets with actual performance – identify gaps which need to be addressed in the current year.