Mainebiz

V O L . X X X N O. X X I V O C T O B E R 2 1 , 2 0 2 4 8 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E Sargent Corp., an employee-owned heavy civil construction contractor in Orono, announced that it is celebrat- ing its 30 th anniversary in the Mid- Atlantic region. HealthConnect Networks in Bangor said that it has secured more than $125 million in subsidies from the federal Healthcare Connect Fund program. The funding has allowed more than 2,500 health care sites in 25 states to develop broadband and telehealth infrastructure. Versant Power announced that its crews completed construction on a project to replace 6 miles of line and equipment from Van Buren to Hamlin. NAPA Auto Parts-Coastal Auto Parts Presque Isle opened at 211 Main St. in Presque Isle. A S K AC E A n s w e r e d b y P r i s c i l l a H a n s e n M a h o n e y , B l a z i n g T r a i l s C o a c h i n g The Association for Consulting Expertise (ACE) is a nonprofit association of independent consultants who value "Success through Collaboration." The public is welcome to attend its regular meetings to share best practices and engage with industry experts. For more information go to www.consultexpertise.com. Q: What is a strategic plan, and why do I need one for my business? ACE advises: I tell all of my consulting clients that they need a strategic plan. Creating implementing and maintaining a good plan requires a significant investment of time. It is essential to business success, and well worth the time spent. Imagine getting in your car in Portland, Maine. Your goal is to reach Portland, Ore., as quickly and efficiently as possible. Without a map, you might head west, but you'll likely take wrong turns, waste fuel, hit traffic and potentially become lost. Likewise, without a strategic plan, a business can waste resources, lose focus and struggle to reach its goals. A plan serves as a map, setting the destination (your busi- ness vision) and outlining key steps to get there efficiently. A strategic plan is a roadmap defining an organization's direction and priorities over three to five years. Why not plan longer? Like a road trip, landscapes change. Market shifts, competition, and unexpected challenges can force you to adjust course. With a plan, you can navigate those changes and stay on track toward your goals. Crafting a strategic plan involves envisioning your goals, forecasting, and ana- lyzing past data. Do not hesitate to seek guidance. It is helpful to work with a guide — a skilled strategist — who understands the ter- rain ahead and can help you avoid pitfalls. You can hire a professional consultant, particularly if you in a challenging industry. Here in Maine, there is also a state network of business resources to support your efforts, such as SCORE, Coastal Enterprises Inc., the Small Business Development Centers and the Maine Center for Entrepreneurs. Just as a navigator points out the best routes to a des- tination, a strategist offers insights into trends and risks, ensuring your business avoids costly mistakes and seizes opportunities along the way. Priscilla Hansen Mahoney is the founder of South Portland-based Blazing Trails Coaching LLC. Blazing Trails helps contractors create systems and strategies so they can scale their businesses through planning and preparation while maintaining profitability. Reach Priscilla at priscilla@blazingtrailscoaching.com. When you hire Perkins Thompson, you're getting a firm that measures success daily. We proudly stand by our track-record of helping Maine businesses, institutions and individuals overcome their challenges, while securing unmatched results for our clients. Dedicated to Legal Excellence N O T E W O R T H Y N O R T H E R N & E A S T E R N N O R T H E R N & E A S T E R N

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