Are you keeping up with the pace of change? The pace of technology? The pace of your marketplace? The pace of your competition? The 2006 Dilemma is how much do you and your business have to change to keep pace? As a business owner you need to have information at your finger tips that help you make the best decisions.
Planning for 2006 is a hands on process. You might start by asking some tough questions. Do you recognize the need for change?
- Are you prepared to look reality in the face?
- Are you willing to change the way you do business – and change yourself?
- Will you turn the plan into action?
- Do you have the guts to take your business in new directions?
I would like to lay out a road map that will get you to view your business through a lens that eliminates the distortions of everyday business. Let me warn you, you may not like what you see. But if you are going to meet 2006 head on it is a necessary process. Let’s look at what a strategic plan could do for you.
- Develop a statement of purpose. Why does your business
Sometimes why we started the business is not the same as why we continue to work it. One of my long time clients over the years has added staff, and possibly her successor, so that now she can travel more. The business was started so she could support her family.
- Conduct a SWOT analysis. This will help you evaluate
your business’ internal strengths and weaknesses, along with the opportunities
and threats you face in the market place. It will give you a basis for
developing a plan.
- Crystallize your thinking – Determine what specific
long range goals you want for your business. It is never enough to just
want more money. They should cover all aspects of the business.
- Create benchmarks, with specific results for meeting
those goals. It is easier to make adjustments along the way without
losing sight of the long range goals.
- Brainstorm strategies for reaching each of the results.
There is more than one way to achieve a result, ask others for ideas.
- Develop a Plan of Action. Plan the progressive steps,
along with who will do what when. Nothing ever happens without action,
but there is a world of difference between mere action and constructive
- Be confident in yourself and your own abilities.
Be determined to follow through on your plan, because without determination
the plan will deteriorate.
The 8th step is to track your progress. Write out your numbers (yes I said write), know your sales number, gross profit, cost of goods/time. It is a sure way of staying focused.