In my last post I highlighted 3 reasons why business owners don’t create the right strategy that can take their business to the next level.
- They can’t find the time;
- They didn’t know how to create a strategy plan or
- Because last year was good enough they didn’t see the point.
If you fall into the 1st group and you haven’t read my last post then please do, because I focused on the importance of setting aside the time and how to.
If you fall into the 3rd group then you should read my report, Why Most businesses Fail, and see why no matter how successful your business was last year, it could easily have gone the other way and why having the right strategy would in fact have made last year even more successful and this year even better.
In this post I want to briefly talk about the 2nd group of business owners – those who don’t really know how to create a strategy that can make this huge difference to their business.
If you fall into that group, I have some good news.
The first piece of good news is that if you are simply carrying on from where you left off last year and haven’t created a strategy that could transform your business this year and beyond, well it’s not too late.
Just because we’re now in March doesn’t mean that it’s too late to adjust the course you’re on or at least create a course for you to stay on.
A good strategy will show you how to get your business to the next transformational stage. This next major level will likely take more than one year to reach and so it doesn’t have to start at the beginning of the year. It just needs to start.
Large companies create plans that work to their annual cycle, whether calendar or fiscal. They do this because they have to report annual figures to shareholders. And many don’t actually create new strategy plans. They simply look at what sales they managed to achieve the previous year, add a percentage and give their sale teams new targets to meet. Their ‘plan’ is a bunch of targets and not a strategy.
Don’t fall into the trap of working according to annual cycles like that. Of course you want to have an end-of-year revenue goal but that goal can simply be a milestone that’s part of a bigger strategy plan that aims to get your business to a specific point in 18 months, or 2 years or 3 years.
And that’s where to start – with the end in mind. The ultimate end is where you want your business to be in the long term – your end vision. The end that I’m referring to here is the next Strategic Destination – the next major milestone for your business.
It is that destination that your strategy should aim to get you to. Once there, you create a new strategy to get your business to the next level and so on towards your final destination.
So, how do you create the right strategy that will take you to the next level?
Well, you can spend months figuring this out for yourself, you can buy books on the subject including my own or you can opt-in to my library of free resource, which has a ton of information that will guide you.
Or, and here’s the 2nd piece of good news, if you want a step-by-step, in depth course that will show exactly how to create the right strategy that will transform your business and get it to the next level and if you want to do that in the quickest possible time that avoids all the expensive pitfalls and time that goes with figuring this out for yourself, then check out my brand new course, Small Business Strategy for Success.
This course will show you the exact steps to take to create and implement your strategy.
However you decide to create and implement the right strategy, if you haven’t done it yet, set aside the time and get started as soon as possible – it really isn’t too late.