The anxiety and panic of 2020 is behind us. It was a year that left its mark on thousands of businesses everywhere.
Due to the epidemic, many companies adjusted, read and then adjusted their business strategies.
People with strong operational foundations survived. They were able to adjust the market flow and flow.
Some even thrived and significantly increased sales and revenue. Others were not so lucky and were forced to cut production and staff.
As the CoVID economy continues, business owners need to adjust and incorporate their strategic processes. It involves the analysis, evaluation and development of a project that establishes the necessary discipline to travel in the right direction and through headwinds that will surely be met in 2021.
Case in point. I was a member of the USVI Olympic sailing team in 1988. We walked out of the American Sailing Center in Coconut Grove, Florida. When we started running, the course was arranged in a triangle. This means that no matter how the wind blows you, you need to keep your planes moving fast and maintaining speed.
In the course you were required to not only work hard to maintain speed but also to see other boats. You can’t literally “let a contestant out of the air.”
The race involved a high level of strategy. The sales had to be specially arranged to make the next 300 degree turn without losing speed. It was every effort to cross the finish line before the match.
So should your business plan. It is developing a strategy that will not only enable your company to maintain momentum but is actually designed to win races in the new year.
An example of a winning project is the popular Entrepreneurial Operating System (EOS®), which is used by thousands of businesses across the country and is able to resonate here. As with the EOS® project, your strategy should focus on six key areas.
These include …
A solid vision. One where everyone in the organization is on the same page and, if you want, moving in the same direction. The whole team needs to understand the direction of the business and how you are getting there. When you have a clear idea of where employees are going, there can be great progress and then spend most of your time associated with it.
Great people. Business owners need to be surrounded by the best people from top to bottom. A great vision cannot be achieved without a great team. Many business owners struggle in this area but the best companies have a strong group to support them.
Data and matrix. Governance must eliminate all personalities, feelings, opinions and nobility. Instead, a project should boil down to a handful of objective numbers. It gives you an absolute pulse where things can be found at any time. These data points will help the team focus, engage and work on your vision.
Solve the problem. Problems can stop the company. Most are solvable but not soluble, a well-run mule can turn a good red animal. These issues must be addressed at their root cause. When properly addressed, they can be eliminated and / or their effects can be significantly reduced.
the process Companies have different business processes. Some are better than others and may be different for each employee. Management needs to document this process and then simplify it to ensure that everyone in the organization follows them.
Traction Once companies implement these processes, they reach a point of implementation where they are making great strides, never before imagined. By identifying their top priorities, taking weekly time to work through them and holding each other accountable, they are able to grow faster and faster.
Creating the right strategic plan with the right process for implementation, measurement and accountability will enable a business owner to crush their numbers in 2021 and move their business plan forward.