Our most successful clients have one thing in common – they set strategic targets, work out the actions they need to take, and regularly monitor how they are doing throughout the year. There is an old saying “A sailor without a destination will never get a favourable wind”. This is so true, and in a world where the frenzied pace of the high-tech revolution is getting faster and faster, it is important to take stock and examine your market and customer base and work out where you want your business to be.
So how do you set a strategic plan?
Firstly, work on your personal objectives. Most of our clients are owner-managed and outlining what you want from the business has to be the key starting point. This process may look simple at first, but it can have stunning implications if actions are taken and results monitored. Ask yourself and your fellow owners:
- What do we enjoy doing and what do we not want to do next year?
- How much income do we need / want next year?
- Are we happy with our work / life balance?
- What do we need to change in the business to meet personal objectives?
Once you have got those sorted, turn your attention to the business and ask:
- What turnover and net profit do we want next year to help us achieve our personal objectives?
- How are we going to attract new customers and get existing customers to buy more from us?
- What changes do we need to make to achieve our targets?
Once you have asked these questions, draw up a list of actions you need to take and GET ON WITH IT!
Measure the results monthly and prepare for success! We have seen lots of success stories and have helped a number of clients put their strategy in place. We can also help design monthly key performance indicators to keep you on track. If you would like us to help you with your success plans, please call us. We would be delighted to help.