Start Planning Now for Your 2011 Small Business Success
Posted by Dave Mace at 9:23 pm
I’m going to keep this short because I’ve learned that people’s eyes start to glaze over and they start hearing Neil Diamond songs in their heads when I get long-winded about planning.
Here is your itinerary:
DESTINATION: Leave your office. Go to your favorite quiet place.
WHAT YOU’LL NEED: A legal pad and your favorite writing instrument (thinking is stimulated by manual writing)
GOAL: Establish a plan for success in 2011 and beyond
Now, we’re going to utilize a couple of proven business strategies to formulate your plan.
The first comes from the book Blue Ocean Strategy by Kim and Mauborgne. List things in four different categories: Reduce, eliminate, raise and create. List the things you do that should be reduced below the industry standard and the things that should be raised above the industry standard. Then list the things that you do which should be completely eliminated from your operation and the new ones that should be created.
This process will help you focus on what makes your business truly special.
With this framework in mind, you are ready to plot your course.
Bob Tuchman proposes the following steps to a fantastic strategic plan.
1. Whom do you serve? Write a story about your customer. Why is she important to you? What does she do in her spare time? What is important to her?
2. What is your vision for your company? None of this namby-pamby, high-minded jibber-jabber. Write out where you want to be in five years. How many employees do you want? Who will be your best customers? What salary will you pay yourself? Where will you live? Will you take more vacations?
3. Set a one-year stretch goal. A stretch goal is one that will be somewhat difficult to attain. This goal should be a big step toward your vision.
4. Last, define what you need to do in the next 30, 60 and 90 days to start you on the path to your goal.
I promise you can do this in 90 minutes or less, with time for a couple beverages and trips to the bathroom thrown in. Just give me a call if you need help. 316.305.8358.
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