Tuesday, June 8, 2010

Is your business road map in place?

Success is the result of a solid plan that has been well executed over time.  Like driving directions from point A to point B, a business road map is a required tool to minimize the chance of getting lost.  Would you run a company in today's business environment the same way you ran one in 1994?  I should think not.

   The steps are simple enough.  Templates exist at www.score.org and www.sba.gov to walk the novice through the basics or to get the veteran builder to commit his vision to paper.  In teaching a number of the NAHB University of Housing courses, I get to ask attendees “How many of you have a written plan for your business?”  Invariably, the response is small.
  The process starts by rethinking your goals.  These should be concise, meaningful, and truly a place you want to land. Next freshen up your plan of how you expect to fulfill these goals. If this does not work on paper it surely will not work exercising decades of effort that leads nowhere.  Evaluate your resources but count on all strengths that can help animate the plan. These include your health, family support, employees, people smarter than you (they do exist), money, risk tolerance, time and attitude to name a few.  At the bottom of the chart above you would now execute the plan, and into the left quadrant monitor and measure your progress toward your goals.   If they are not being fulfilled you need a new plan.  If you are getting the goals fulfilled perhaps they can be expanded to have greater impact from your efforts.
Establish your personal goals first.  Your company must be capable of fulfilling your personal goals, for no other entity will be in the wings to make them happen.  No, government cannot be counted upon to fulfill goals, nor can any third party.  Your company is an excellent tool to help them come alive.

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