The sheer optimism of my clients is infectious. Many have said, “I want this year to be the best year ever.” I applaud the big plans they have in place for change. As spring and the economic recovery come together, how are you planning to get on the wealth bandwagon this year?
Read the 4 ideas below for different ways to kick start your wealth creation this year and be sure to let us know how it’s going!
1. Begin with the end in mind. In business, as in life this is always the best starting point. Take some time out, ideally with your whole team and reaffirm your Vision, mission, and values. It’s not just about more profit or sales either. Those are just results. What gets you out of bed in the morning and why should your people care about coming to work with you? How do you want your enterprise to be and why?
So many business meetings are just incremental planning. Your strategic planning ‘offsite’ needs to be much more than ‘business as usual’. An objective facilitator from outside will really add value in this. If you don’t yet have a clear Vision and strategic plans, now is the time to get started and launch your business from ‘same old same old’ to star performer.
2. Get your staff involved in a SWOTT analysis. This classic business technique – listing the Strengths, Weaknesses, Opportunities, Threats, and Trends – makes a terrific basis for your strategic planning session. It can become your main strategy tool as you put into place the action plans that flow from it. Plans that play to your strengths and leverage your opportunities while eliminating or avoiding your weaknesses and allowing you to respond profitably to the threats and trends facing your enterprise.
3. Strategic priority setting or putting first things first. You can’t do everything at once and you can’t do everything yourself. Leaders need to develop the ‘Rockefeller habits’; these are the right things, the right people, and doing things right. Do you have an operations manual? Is it up to date? The lack of structure and systems is a main cause of business failure and slow growth.
Day to day management by ‘to do list’, leads to ‘creeping normalcy’. A stultifying status quo that seduces many leaders into believing they are making progress. Putting first things first can set you free. Free from micro-managing, and free from mistakes. It is freedom too, for your people to express themselves in line with your mission statement.
4. Who will do what by when? By definition, your Vision is a long way off. Therefore, everybody needs to be certain of his or her responsibilities and deadlines. Everybody needs to be clear about their long-term goals, their SMART (Specific, Measurable, Achievable, Result oriented and Time based) business objectives. On this basis they make effective monthly and weekly action plans. And remember, ‘what gets measured gets done!’
More jobs, more money, and more job satisfaction await your business, when you clearly state and communicate your goals.
Call PBC today to make the most of your strategic planning time out.