“Come On, I Dare You!”
…we would say when we were growing up. Interesting how the right challenge will ignite action.
Almost every business owner says they have a vision or goal for their business – whether to grow, maintain their lifestyle, pass on to the next generation, or to eventually sell. Based on our own experience, less than 10% of business owners actually have a written/formal strategy and less than 5% are taking regular action towards their goal. “While day-to-day maintains your business, strategy moves/grows your business.” Collectively – based on our own inaction – small, medium-sized and family businesses are at serious risk.
Given today’s demographics, those statistics could easily translate into considerable carnage for businesses, considerable job-losses for our economy, and considerable loss in value and wealth-creation for business owners looking to eventually pass down or sell their business. Will you be one of those statistics?
The Silent Killer: Procrastination…
“Now is not a good time. We’re too busy.”
It’s NEVER a good time, and your business will always (hopefully) be busy – that’s what you’ve worked so hard for. Unfortunately, the typical business owner’s ‘a good time for strategy’ all-too-often means finding some ‘spare time’ to ‘look’ at strategy.
To effectively grow or move your business forward, strategy has to be incorporated into your business, not bolted on in your spare time. The most successful businesses embed strategy and strategic thinking into their regular business activities and culture.
“I’m not ready… I just have to [excuse 1,2,3], THEN I’ll be ready.”
We see an inordinate number of business owners “getting ready” to execute strategy instead of simply “getting started“. It’s like “getting ready” to start eating better, to start exercising, to quit smoking, or to lose weight … nothing happens until you take the first step. There will NEVER be a convenient time to start, and the longer you wait, the lower the chances of success. The best of intentions becomes tomorrow, next week, next month, and quietly slides into next year, then the following.
Your time to embark on an effective strategy – to maximize value for you and your business – is NOW!
“I can do this on my own.”
Chances are that you won’t do as well, can’t, or won’t get to it. Experience shows that engaging others creates better ideas, broadens perspectives, builds energy, instills outside accountability, and motivates us to get it done. Put simply, it generates better strategy.
Begin With The Basics: A ‘Rolling Start’ Approach …
- Create A Realistic and Measurable Destination – A clear destination is essential. You can’t create an action plan to a place you don’t’ know or can’t describe to others.
- Prioritize and Focus Your Actions – Write down key opportunities or barriers you see for your business that, if acted upon, would substantially move your business towards your 3 year goal
- Take Action, Share the Load – Strategy cannot be executed by a team of one. Engage your management team for their expertise, ideas and involvement. Hold them accountable for their piece.
- Create Profile, Routine – Perceived importance is directly proportional to how often you ask or talk about a subject. Be clear and consistent about expectations, accountability and follow-up.
- Track & Celebrate Your Progress – Nothing promotes success like success. Focus on and celebrate what’s working, change or adjust what’s not. Do it regularly and consistently.
Your Call to Action: Create your own ‘Rolling Start’ Business Strategy in the next 30 minutes …
We have provided a form for you to get started. Please see the following link. If you take up the challenge, we’ll provide you with some feedback.
So Start Executing Your Strategy Today … “Come On, I Dare You!!
- 5 Essentials to Attracting & Retaining Top Talent in Your Organization - November 13, 2018
- 8 Immediate Actions to Scale Up Your Business - June 6, 2018
- Are You Constantly Navigating Your Ship (Business) From The Engine Room Rather than the Fly Bridge? (6 Actions To Keep You OUT Of The Engine Room) - April 18, 2018
- Business Culture Inside Equals Brand Outside (Why It’s Essential to Build from Within) - March 7, 2018
- 6 Essentials to Catapult Your Sales Growth (“It’s hard to sell mediocre”) - January 29, 2018
- “Debottlenecking” Your Business, Not Just Your Operations - November 1, 2017
- Increased Revenue Does NOT (necessarily) Increase Sale-Value - July 26, 2017
- Let the Silence Do Your Talking - May 15, 2017
- Business Execution is Like Building a Puzzle - April 27, 2017
- Optimizing Your Peer-to-Peer Coaching and Mentoring Experience - March 28, 2017