“Enthusiasm is the yeast that makes your hopes shine to the stars. Enthusiasm is the sparkle in your eyes, the swing in your gait. The grip of your hand, the irresistible surge of will and energy to execute your ideas.”
~ Henry Ford
This week I’ve talked about how every business needs a vision – a clear definition of what you’d like your business to become in the future. And, every business needs a set strategy – a definition and plan of how your business is going to reach this vision.
All the key elements — what you sell, to whom, for how much, what you promise, etc. — they are all part of your company’s strategy or direction towards creating the business you want.
Earlier this week, I also shared with you ideas to set this strategy so that the rules of the game are tilted in your favor.
Once you’ve chosen your direction and vision, the next step is strategic planning – mapping out how you will achieve this over a long-term time frame (usually one year). This, like all planning, involves determining what projects you will complete and when, and how you will allocate resources such as man hours, money, and assets.
Lastly, your strategic plan will break down into specific, detailed short-term plans that help you know what to do on a month-to-month and even day-to-day basis.
So, document your vision and strategy into a plan you can start following (and succeeding) today. (If you need help, use my strategic plan template).
Is Your Business at Risk of Failure?
Most businesses fail — they die a premature death. I hate to be so blunt, but this is the truth. The only thing that varies is just how many businesses fail.
What’s the number one cause of this failure?
Well, according to Dun & Bradstreet, the primary cause is lack of strategic planning.
Entrepreneurs and business owners don’t plan to fail. Rather, they fail to plan (which causes them to fail).
Today’s Question: Since the 1960s, what advertising objects come in three models called GZ-19, GZ-20 and GZ-22?
Previous Question: Developed at DuPont in 1965, what is 5 times stronger than steel and weighs the same?
Kevlar has many applications, ranging from bicycle tires and racing sails to body armor because of its high strength-to-weight ratio.
What unique characteristics do you and your business have that you can leverage in a variety of ways?
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