Strategic Thinking is Essential for Business Growth
As a business owner your are either working ON your business or IN your business. When you are working IN your business you are involved in every level of the business from sales to operations and accounting. You are essentially keeping the business running. But what would happen if you were to not go into the office for a week or a month?
Could the business still run without you?
Business owners although most likely already stretched thin, really need to take time away from their business to work ON their business. It's essential for business owners to focus some of their time on strategic thinking - in thought and planning. This type of strategic thinking should include creating a business development plan and 1, 3 and 5 year plan on where the business is going.
It's essential to have a skilled team to operate the business so that strategic planning and growth can take place. In order to build and grow an exceptional business that you can one day turn around and sell, you must devote the time to plan for results.
How can you make strategic planning happen in your business? Here are 4 tips:
1. Find an accountability partner or team to make sure you are taking the time out of your business to really plan and think about it's next steps
2. Make a default calendar for each week and find chunks of time where you can plan and work ON your business
3. Make goals S.M.A.R.T - specific, measurable, acheiveable, results and time orientated
4. Write all your goals down and even put some next to your desk or bed as a daily reminder of what needs to get done
As a small business owner, it’s easy to overlook the importance of strategic thinking. But if you wish to create a healthy, sustainable business, it’s vital that you spend time planning on a regular basis. Start today. You can’t afford not to!
Whatever your business challenge is, we can help you starting today.
Simply click the link business assessment your free 30 minute phone consultation. We’ll focus on your #1 challenge, and at the end of the call we’ll give you at least one practical strategy so that you can move forward immediately.
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Re: Strategic Thinking is Essential for Business Growth
When running a company you sometimes can't see the wood for the trees, as you get bogged down in the everyday work. This is a situation that is understandable yet unless you make changes then the grand scheme of things can get overlooked, with big financial or employment issues often going unchecked and escalating. I can uderstand why a manager would want to have a hands on approach but you have to have confidence in your employees ability.
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