The REAL Reason Businesses Fail to Achieve Success
Soon after entrepreneurs and business owners start businesses, they tend to become trapped in the day-to-day, week-to-week, and month-to-month struggles...
At some point, virtually all of us become 100% focused on the short-term and lose sight of our long-term visions. As a result, we begin to wander, and never achieve the initial vision we had when we first started or bought our companies.
Specifically, we set short-term goals and create short-term plans (if any plans at all). And as the United States Small Business Administration found after numerous studies, the #1 reason business owners fail to achieve success is lack of formal business planning.
That's right, you must have BOTH 1) a long-term vision and business plan, AND 2) a short-term vision and business plan that puts you on the right trajectory towards achieving the success you want.
So how do you do this?
The Solution is to Forget About Today And 'Start At The End'
"If you don't know where you're going, you probably won't get there."
This quote from Yogi Berra is so simple, yet so true. If you don't know where you want to go, you'll never get there. It's like driving in a foreign country without a map or GPS system.
And it's the same with your business. If you don't know where you want to take your business, how can you possibly get there? You can't.
In business, as in everything else, you need to have a clear vision of where you want to go. Then, and only then, can you create a plan to get you there. The key is to "Start At The End." Figure out where you want to go. And then reverse engineer the path to get there.
So, oddly enough, the starting point to all success is actually at the end! Now, the reverse engineering process of getting to the end is all about figuring out short-term goals.
Specifically, once you figure out what you want to accomplish by the end, you can estimate what you need to accomplish in the next year to put you on the right trajectory towards meeting your ultimate goals.
And then you can figure out what you need to complete this quarter to get on the path to your annual goals. Further, you can determine what you need to achieve this month to reach your quarterly goals. Likewise, you can figure out what you need to accomplish this week to meet your monthly goals. And lastly, you can figure out what you need to do today to accomplish your weekly goals.
Success really is this easy; it's simply constantly breaking down your ultimate vision into smaller pieces, and then focusing on completing those pieces (rather than getting distracted as most of us do).
For specific tips and strategies to envision the company you'd like to build and to reverse engineer that vision into a step-by-step plan you can follow to achieve it, pick up a free copy of my book, Start At The End: How Companies Can Grow Bigger And Faster By Reversing Their Business Plan.