One of the key challenges for any business is to remain focused and invest resources for maximum pay-off. It's said that 80% of a business's activity accounts for only 20% of total profits. In plain language, most of the work we do is unfocused, poorly designed and ineffective. In today's competitive world, no business, whether it's an individual professional or a large manufacturing operation, can survive with that much lost time and wasted effort. A business plan can help, but most small business owners (and some managers/supervisors) hate doing them! In the spirit that any map is better than no map, here are my top ten keys to creating your own map to success:
1. Have a dream. This sounds simple and obvious, but answering the questions: "Why am I doing this? What's the big picture?" can lead to profound changes in many organizations. Too often in the daily grind, we forget to think about where we want to go, or why we started the business or took the job in the first place.
2. Make the dream bigger. What if the whole world bought your products or loved your service? What would it mean if your profits, or your personal income were 10 times greater? How about 100, or 1000 times greater? What shifts in focus would that require? Would your daily routine change? Would you spend your time and energy on different problems, attend to different priorities? Why wait?
3. Make the dream clearer. Have a precise description of exactly what you want and hang it in your office, in the employee lunch room, in the restrooms, and on the dash of your car. Use key words, phrases, a photograph of your future office building or whatever symbol will crystallize the dream and make it real for you and for every member of your team
4. List 100 obstacles that will get in your way. Enlist staff, friends, competitors to help. Ask your customers to join with you in looking for the roadblocks, blindspots and bottlenecks that prevent you from growing. Make it a matter of personal pride to never have a problem pop up that you haven't already considered.
5. List 1000 solutions, 10 for each potential problem. The key here is creativity, flexibility, and responding instantly when the unexpected happens. Expect the unexpected, and have a file of alternative solutions at your finger tips. It's called contingency planning. Do it!
6. Get tons of advice. Have your accountant, your attorney, your insurance agent, your spouse and your cousin take a look at this. If you can't explain it to them, will you be able to explain it to your staff? If these people don't understand and support your plan, will you be able to maintain your own enthusiasm over the long haul?
7. Get GOOD advice. After explaining your dream and your plan to lots of people, sit down with a handful of those you trust the most, and pay them to give you their best feedback. Lots of people can give you technical advice, expert advice, and even friendly advice. Wisdom is more important, and harder to find.
8. Create the path of least resistance. Using the dream as your goal, and knowing the obstacles that could get in your way, begin mapping your way through the wilderness to your destination. What's the easiest, most direct, route? What's the safest route? Which combination of activities and priorities makes the most sense?
9. Take action. Once you know where you want to go and have a path to get there, start walking! Too many managers put their business plan into a nice file folder that is never looked at because they are too busy working "hard." Instead, use your efforts and your plan together so that your effort is focused, productive and smart!
10. Re-assess often. Just as someone hiking across barren territory needs to periodically stop and check their map and compass to avoid walking in circles, business owners and managers need to check their direction and their priorities. Conditions change. Opportunities pop up or disappear, new problems arrive or the nature of the dream changes. All of these things will happen. Plan for it! Regularly step outside your business to re-assess and redefine your most important tasks. You can't afford to spend 80% of your effort in busywork and unprofitable distractions. Re-assess and stay on course.
? Copyright 2003 by Philip E. Humbert. All Rights Reserved. This article may be copied and used in your own newsletter or on your website as long as you include the following information: "Written by Dr. Philip E. Humbert, writer, speaker and success coach. Dr. Humbert has over 300 free articles, tools and resources for your success, including a great newsletter! It's all on his website at: http://www.philiphumbert.com
Barrington South Lincoln Stretch rentals .. Lockport Chicago limo O’HareMany of Ohio's downtown areas are in need of upgrading... Read More
Why do so many companies languish and watch as their... Read More
There is a story, about a business owner who wasn't... Read More
A survey released by the American Institute of Certified Public... Read More
In 1989, Sony founded its Institute of Wisdom at the... Read More
There's nothing automatic about corporate growth, particularly in the information... Read More
Please take a moment before you read any further and... Read More
In most business plans, no matter how striking the idea,... Read More
Although North Americans were the dominant population on the Internet,... Read More
Strategic planning is vital while starting a new business or... Read More
Entrepreneurs often give little if any consideration to their computer... Read More
Ask Yourself three simple questions that affect your strategy planning...... Read More
Anyone who has been watching the Idaho Market Carefully for... Read More
Many very successful business owners may never have had a... Read More
Every decade we seem to come up with a buzz-word... Read More
Many business start-up kits or consultants will tell you one... Read More
Writing a business plan is no easy task, sure you... Read More
"I don't need a business plan."Neither did Alice in Wonderland."Would... Read More
A business plan precisely defines your business, identifies your goals,... Read More
Some analysts credit [Larry] Ellison with anticipating the consolidation in... Read More
Experts estimate that 90 percent of Australian businesses are overspending... Read More
In today's rapidly changing and highly competitive markets, many privately... Read More
If you've ever listened to Warren Buffett talk about investing,... Read More
One of the most important initiatives in the domain of... Read More
Note to Northwest Airlines ? It's not about fuel costsFor... Read More
Downers Grove limo Chicago ..When you start your program to purchase your "ideal" company,... Read More
A focus group is a group of employees or current... Read More
Ask Yourself three simple questions that affect your strategy planning...... Read More
Business seems to drop, slow or even stop during the... Read More
Franchised companies often require what some believe to be excessive... Read More
Have you ever done a SWOT analysis? No, it's not... Read More
If you are looking for a partner, funding, angle investor... Read More
Most companies that are worthy of raising venture capital have... Read More
Cassy was an employee of a nonprofit who had been... Read More
All investors greatly desire and are motivated by a clear... Read More
Building a dynamic small business is a constantly evolving, increasingly... Read More
In 1989, Sony founded its Institute of Wisdom at the... Read More
One Research Scientist at the Hewlett-Packard (HP) Imaging Systems laboratory... Read More
Diversify - to make diverse, give variety, to balance, to... Read More
Many business start-up kits or consultants will tell you one... Read More
Private equity firms have raised so much capital over the... Read More
How are you feeling today? Good, not so good, great?... Read More
As a business owner, you've likely created a hurricane plan... Read More
To stop a computer virus you must understand how it... Read More
David E. Gumpert, author of Burn Your Business Plan, often... Read More
Fun From The StartFor those with the will to start... Read More
You know you need a business plan. You probably realize... Read More
One of the most important initiatives in the domain of... Read More
Canada's lean leaders need to look beyond the horizon and... Read More
Microsoft Great Plains does wonderful ERP job for horizontal markets... Read More
Strategic Planning |