Planning can be tiresome. Details can be overridden by changes in market movement, business structure, or the loss or gain of key customers. This means that a plan needs writing again 4-6 months down the line. The outcome is a put-off attitude, with no firm plans in place, leaving you with no strategy to achieve your business goals and a lack of firm direction.
The solution is short-term planning.
You should know what you want to achieve in three to five years time, but planning each year in detail is a waste of time. A lot can happen in one year let alone five, and the plan is likely to be outdated quickly. So, armed with the long-term goals you know you want to hit, take one day each quarter to plan for the next quarter.
When creating your plan, think about what your long-term goals are and decide which parts you can work on for the next coming quarter. Create a list with roughly ten possible goals, then cut this down to five and ensure with at least three of them focusing on creating revenue. Other goals such as employee training or implementing new systems are important, but make sure there’s a clear focus on increasing your profit.
Once you have your 5 goals, make sure they SMART (Specific, Measurable, Achievable, Relevant and Timely) and then create a step by step action plan for achieving each one. The next part is crucial – delegating each step to a person in your organisation. Your goals shouldn’t be restricted to higher management to achieve, but for the whole organisation to work on as a team for the next coming quarter. It’s important for your team to be as focused on the goal as you are.
The process then repeats itself. At the end of every quarter, take a day to plan the next quarter. By the time you reach the end of the year, you’ll find that you’ve achieved more in your business than you ever have before with a long-term plan!
One of the biggest mistakes I see is business owners not putting aside enough time to plan their quarter. Cramming the planning into an hour or two to not interrupt workflow results in lack of detail and structure of steps.
As such, I run a full-day workshop every 90 days, to give you the space you need along with guidance to plan successfully. It’ll allow you to put a day of considered planning in and give you the opportunity to discuss strategies with other like-minded business owners alongside experienced business coaches, to advise you on the best steps to take.
Find out more about this workshop here.
