Strategic Planning: 3 Ways It Can Help Your Business Reach its Goals

Uncategorized Mar 02, 2018

Strategic planning is the process of laying out your goals for the far future of your company and then mapping out the specific steps it will take to reach those goals. A strategic plan has a set timeline, specific actions and checkpoints, and is measurable by key metrics. So why is this more valuable to your business than a standard list of SMART goals, or action steps for this quarter? Take a look at the three reasons below.  They explain why strategic planning does more for your business

See beyond the Problems of Today

As a Business Owner, most of your day is spent on emerging problems. Tackling those urgent issues is vital to day-to-day operations, but it can make it very hard to see past the problems of today. Taking time away from those everyday issues to focus on creating a strategic plan brings clarity and focus. Then, beyond the strategic planning session with your team, you will have a document to look back over, and specific steps to measure when it feels like you...

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Goals: Make Them RISKY & EXCITING

business growth goals Feb 23, 2018

You’ve heard of SMART goals, Specific, Measurable, Actionable, Realistic (or Reachable) and Timely. But have you heard of SMARTER Goals? SMARTER stands for Specific, Measurable, Actionable, RISKY, Timely, EXCITING, and Relevant. Why would we recommend Risky and Exciting goals, instead of Realistic or Safe ones? Well simply put, they motivate you more.

In his book “Your Best Year Ever” Michael Hyatt details the idea behind SMARTER Goals. Having elements of risk and excitement involved keeps you interested and engaged in a way that the traditionally taught SMART goals can’t quite deliver.

A Risky Goal

Let’s first focus on the idea of Risky Goals, by looking at it’s opposite, Realistic Goals. Realistic is not inspiring. We don’t sell products or services by offering our customers average. Our customers aren’t drawn in by average service or average products. So if we want our objectives to contribute to elevated success, we have to expand...

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Why Your Company Needs Core Values

What are core values?  Core values are the rules and boundaries that define your company's culture and personality.  When they are clear, you'll find they attract like-minded people into your firm.  They will also weed out people who don't fit in your firm when you apply the core values.  The goal is to build a thriving culture and you do that by creating core values and living by them.  Once you establish your core values, you must hire, fire, review, reward, and recognize people based on your core values.  These become the non-negotiable's in your organization.

Most entrepreneurs and small business owners haven't taken the time to define the core values for their organizations.  Unfortunately, the lack of clarity hinders the growth of the business.  This is part of the foundation of your firm.  If the foundation of your firm is built on sand and with particle board it will surely not stand and will hurt your cause.

There has...

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The Keys To A Champion's Mindset

business growth Feb 09, 2018

The quest for success is a common theme among entrepreneurs and small business owners.  They thirst for greatness but oftentimes their reality is working long hours, tired, frustrated, hitting a plateau and all of these intensifies the pain inside.  They don't know where to go or who to turn to for help or even realize they need help.  I fully understand and have lived this business life once before and the greatest thing I did was reach out for help, which encouraged a major mindset shift in my thinking.

The journey wasn't a quick fix however, it was a journey of deep exploration of self and having the courage to take ownership and responsibility for my life.  You have to be open-minded and be willing to be in a state of courageousness to take action for your life and move forward even if you will hit some potholes along the way.  The journey is priceless and well worth the investment into yourself.  I'm going to share with you some great truths...

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How To Measure Business Success

business growth Feb 02, 2018

The question I like to ask entrepreneurs and small business owners is how are you measuring your business performance against your objectives?  I find that most entrepreneurs and small business owners don't actively measure their performance and don't have any tools to help them measure performance.  Business owners need to make a mindset shift and choose to be intentional with their business.  It's deciding that first and foremost your business has to be the number one client and you have to have an ongoing examination of your business to guide you to achieve your vision and goals.  The truth is the unexamined firm isn't worth having.

Key Performance Indicators

We advise, facilitate and coach our clients to establish key performance indicators or KPIs for short.  Key performance indicators are a set of quantifiable measures that a company uses to measure performance against their key business objectives.  KPIs demonstrate how effectively...

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How To Create Your Yearly Business Plan

business growth Jan 26, 2018

The fall is a great time to finalize your written business plan for the upcoming year. A lot of entrepreneurs and small business owners don’t even operate with a written business plan. That sounds crazy, but it is true. Business owners and their leadership team skip this crucial step in their businesses. Here are some business plan myths:

  • Plans must be lengthy to be good
  • Primary purpose is to obtain financing
  • It takes six months to complete
  • My business is too small for a business plan
  • I know where I am taking my business; I don’t need a written business plan

We advise our entrepreneurs and small business owners to create a one-page business plan. A one-page business plan is an innovative approach to business planning that captures the heart of any business on a single page using key words and short phrases. The truth is “what gets measured gets done”!

The one-page business plan works because:

  • A plan actually gets documented
  • It is understandable
  • It is easy...
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Benefits of Benchmarking

business growth Jan 19, 2018

If a race car is running a race by itself, it will win every time.  We all like doing our best and winning the big trophy.  Unfortunately, though, business is anything but a single car race, and even a personal best doesn't necessarily secure the trophy or land a new client.

Knowing how a company ranks relative to others: before the starting gun, halfway through the race and right before the finish-empowers management to evaluate the company's performance.  With this valuable information, they can potentially adapt strategy and affect the company's final ranking of their numbers.

Business advisors, consultants, and coaches see value in using peer group benchmarks both to understand the current situation and identify opportunities.  Industry comparisons are a valuable part of understanding and improving business performance as they can point out areas of concern and investigate why they are performing below industry standards.

Financial metrics that are...

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Business Health Checkups

business growth Jan 12, 2018

Taking your vehicle to the auto mechanic for a checkup and oil change every 3-6 months is one of the most important was to properly maintain your vehicle and reduce the cost of expensive repairs and maintenance.  This routine care enhances the longevity of your vehicle.  By finding out about the problems before they become a crisis, you're able to save time and money while also significantly reducing unnecessary hardship.

Maintaining the health of your business' accounting works in a similar way.  If you wait for a problem to become a crisis, it's already too late.  Instead, you should maintain your accounting throughout the year with regular checkups; at minimum quarterly reviews.  This is the best way achieve your goals and prevent potential problems from becoming massive issues.

What should you look at during business health checkups

Every business is different, so there isn't one right answer to the question.  Here are some metrics most businesses...

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5 Reasons Why You Need a Business Coach

business growth Jan 05, 2018

If you're like most entrepreneurs and small business owners, you juggle multiple roles while attempting to make your business as successful as possible.  For example, you might be responsible for the sales process, operations and the finance functions of your business.

In most cases, business owners take on these responsibilities simply because they don't believe they have the ability to bring in experts to help them with any of these important functions.  Unfortunately, all this multi-tasking can cause problems for your business, especially when it comes to finance.  Business owners are usually really good the product or service that they have created and 95% of the time that's not finance.

In fact, 80% of businesses fail within the first two years and 96% of businesses fail within the first ten years.  Most businesses that fail just simply run out of money.  The odds aren't in the business owners' favor.  The need for expert financial and performance...

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Time Management: Why It's THE Most Important Skill

Being busy isn’t the same as being effective, or even profitable…

Have you ever wondered why some people seem to get more done in a day than you feel is even humanly possible? You know the people I’m talking about, those ultra-high performers who seem like everything they touch turns to gold, meanwhile, everything you touch turns into a missed deadline, a headache or worse. The secret to their success and the secret to lasting success in business is simple. It all boils down to developing exceptional time management skills. Figure out how to manage your time and you WILL crush your goals. Still not convinced? Take a look at these 5 reasons why Time Management is VITAL.

Greater Productivity & Efficiency

It’s not about simply getting MORE done in LESS time. IT’s about making time work for you so that you produce BETTER and more PROFITABLE results. The old saying is definitely true, you need to “work smarter, not harder”

Less Stress

Is one...

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