Budgets. Strategic Planning. Annual Planning. ‘Tis the season … but who has time? For many business owners it can be hard to work ON your business, rather than feeling the pull to solve IN the business issues. In this article we’ll share a simplified approach to strategic planning.
Can you gather your leadership team and answer these 8 Questions?
1. What are your Core Values?
I don’t mean your aspirations or the words on a plaque. Rather, what are the behaviors that define your best team members? Who do you LOVE working with – including vendors and clients? What do they have in common? Your core values define the right people for your company. They act as a magnet – both attracting and repelling!
2. What is your Core Focus?
This is your reason for being; it’s what you’re best at doing! Others call it a mission. It comes from your core and it should give you a filter to help you focus your energy. In Good to Great, Jim Collins says. “You are more likely to die of indigestion of too many opportunities than you are of starvation of not enough.”
3. What is your Core Target?
Pick a timeframe – 10 years? 15 years? Then identify what you REALLY want to accomplish. Be brave. You are inviting people to be part of……what?
4. What’s your Marketing Strategy?
Who is your ideal customer and what do they need to hear from you in order to part with their hard-earned money? You don’t need to become a household name. You do need to focus your Marketing and Sales efforts.
5. What is your 3 Year Picture?
A big goal is empowering. Daily details can drive you to frustration. Making sure that your team agrees on the general direction, a 3 Year Picture, can bridge the gap. Massive growth with multiple locations? Streamlined operations and cross-trained superstars? Where are you headed in the near term?
6. What are your 1 Year Goals?
Identify just 3 – 7 priorities for the year and rally your team to accomplish them! Of course, this also means you are deciding on things that you will not pursue – or be distracted by!
7. What are your ROCKS?
Rocks are 90 Day goals. What needs to be true 90 days from now in order for you to accomplish the annual goals? What role can each person play in driving accountability and success?
8. What are your Issues?
What needs to be decided, addressed, or cleared out of the way? What threatens your success? Name them and solve the root cause for good! Make a list and clarify which items can be parked for 90 days and which ones need attention right away.
Now, having answered those 8 questions. Is it easier to set a budget? Is the path forward more clear? What will happen when your entire team is rowing in the same direction? . I hope you’ll have even more to be thankful for at this time next year