Small Business Guru

Big Picture Thinking

I have a big issue with long-term business planning.... actually, I have many.  1. It’s very hard to predict the future; 2. I have enough trouble thinking about next month, let alone the next few years; 3. Most small business owners don’t have the time, resources or industry data to make sound predictions or meaningful plans and 4. I actually find it quite daunting to think of everything that is required of me to make my goals a reality, so setting the goals in the first place becomes a bit overwhelming.
However, I still believe it is very important to have an eye on the bigger picture of my business – I mean, let’s face it, if all I have to look forward to for the next 30-odd years is more of the same.... well, that doesn’t exactly turn me on.

I know many small business owners find business planning just as challenging as I do.... which is why I recommend planning in a ‘general’ sense – clarifying the picture of the general essence of your business in the longer term rather than creating a list of ‘disconnected’ targets.

Answering questions like....

• Who will I be working with?

• How will I fill my days?
• What will my business be known for?
• What kind of lifestyle do I want to have and how will my business support that?

.... give you a sense of the general direction you need to take your business.... and gives you benchmarks against which you can measure new opportunities or strategies. 

Once you have this kind of picture in your mind, then you can create short-term goals or focus points for moving closer to your bigger picture.  Personally, I work well with a 6-month plan... that keeps me focussed on key projects and strategies that move me closer to my bigger picture outcomes.  Once those projects are complete, the next strategies become apparent... and I keep moving forward with flexibility and within the context of the wider economy.... all the while moving closer to my big picture outcomes.

How do you stay focussed on your bigger picture?  Vision boards?  Goals? Traditional business plan?  Other business plan format?  Let me know in the comments below.

Igniting your business performance through strategy and mentoring,

Cat

What Fuels You?

I’m preparing a workshop on ‘Personal Effectiveness’ for business owners... and amidst all the ‘obvious’ things like organisation, time management and personal ‘systems’, it got me thinking.... what keeps us going as business owners... where do we get our fuel?

For some, the juice comes from ongoing wins – whether it’s getting another client, the rush of a sale or successfully managing a staffing issue.  For others, it’s the growth and development of the business (and themselves in that process).  Fuelling yourself in this way is great... but what happens if you have a ‘dry’ period of few wins, slowing sales or staff grumblings?

Other people top up their tank knowing they’re ‘in-control’, taking comfort from the knowledge that they are ‘the boss’ – they’re not working to anyone else’s objectives, time-frames or budgets.  That’s all well and good... until of course they realise they are actually now slave to their customers, their staff and that ever-present need for revenue.

The most reliable fuel then has to be independent of business conditions.  For me I fill my tank with good nutrition (most of the time), physical exercise, spiritual practices and mental stimulation and engagement.  If you want help with nutrition or physical exercise, check out one of the many local practitioners who can give you guidance and frameworks that work for your life.

Mentally, consciously choose what you listen to, read and talk about.  It is really easy to get into a mental rut if you’re surrounding yourself with commercial news and talkback radio.    Instead, seek information that supports your goals and interests.  The internet is an amazing source of quality information and blogs in particular are a great way to stay in touch with current information, trends and opinions.  If you prefer your information and engagement more personal, consciously select peers, friends and colleagues who will engage you in robust conversation... and make the time to engage.

Mentally engaging yourself – really thinking about, around and into situations, opportunities or problems – not only fills your tank with premium fuel, it helps you evolve.

Strong Foundations

Tuesday 27th January this year signalls the start of the Chinese New Year.  2009 is the year of the Earth Ox and provides a focus on foundations, getting your house in order and themes of patience, relationships and systems.

In the current climate of panic, fear and resultant consumer caution, giving some attention to the foundations of your business is a sound idea.  When the economy bounces back (which it will do, it’s just a matter of when), the businesses that will best positioned to take advantage will be the ones who have rock-solid foundations.... not those built on sand. 

So what foundations do you need to look at?

From a marketing perspective, what is your core marketing message?  What does your brand stand for?  Is your marketing working for you or are you wasting time and money on random, hit-and-miss campaigns?

A solid marketing foundation – an integrated marketing plan based on a consistent message, strong relationships and networks.

In the sales area, do you have a consistent sales process with a high success rate?  Can you track your sales leads and follow-up on customers who are still in ‘decision-mode’?

A solid sales foundation – a strong sales process that works supported by a relationship management system.

From an operations perspective, do you regularly experience ‘drama-free’ days, or are you often “putting out fires”?

A solid operations foundation – systems and processes that support the marketing and sales functions while efficiently managing the administrative, financial and compliance requirements of the business (they don’t have to be documented, but they do need to work).

And lastly but most importantly, YOU (the driver of the business) – are you clear on your direction, your focus and targets for the year.... or are you scrambling to keep up?

A solid owner foundation – clear business and personal goals, how you’re going to achieve them, personal development opportunities and personal wellbeing.

Remember the whole year is about strengthening your foundations... it doesn’t all have to happen overnight.  Just schedule some time each month where you can ‘structurally’ review the business and strengthen as you go.