Strategic business planning doesn't need to involve a 30-page document. Instead a 1-page business plan can be a truly effective tool AND help you build core values into the heart of what you do. Check out these 5 signs to see if your strategy is letting you down.
1. 5 Signs You Need
A (Better) Business
Strategy
By Lea Woodward
2. The Top 5 Give Aways...
After 8+ years of running my own ventures, I noticed
that one of the key things blocking people from making
a successful and profitable go of their business was...
you guessed it:
Lack of (or poor) business strategy!
Want to know how you can tell? Here’s how...
3. #1 You Bounce From One Idea to the Next.
Focus? What’s that?
I’m Multi-Passionate.
I like to work on everything.
All at the same time.
4. If you’re still bouncing from idea to idea...
● STOP searching for that unique idea - almost everything has
already been done - but doing it YOUR way can most
definitely be unique.
● What you choose NOT to do can say more about you than
what you choose to do. Say NO often.
● Create a framework to decide what to do - it can be broad,
loose and flexible, but it gives you *some* boundaries to
play within!
● FOCUS. Give your best idea at least 6 months of sole focus. If
it’s not flying by then, move on.
5. #2 You Don’t Know What Your Business Stands For.
“I can honestly say I have never gone
into any business purely to make
money. If that is the sole motive, then I
believe you are better off not doing it.”
– Richard Branson
6. If you don’t know what your business stands for...
● Why do you exist?
● What compromises will you NOT make?
● This is part of your unique story – no-one can take
this away from you.
● Almost all of the biggest and best missions are NOT
related to making money.
e.g. Apple’s latest mission statement includes this: “...everything we
touch enhances each life it touches.”
7. #3 You Don’t Know Where Your Business Is Going.
"Would you tell me, please, which way I ought
to go from here?"
"That depends a good deal on where you want
to get to," said the Cat.
"I don't much care where –" said Alice.
"Then it doesn't matter which way you go,"
said the Cat.
– From Alice's Adventures in Wonderland.
8. If you don’t know where your business is going...
● How will you know when you get ‘there’?
● How are you deciding which way is the
‘right’ way, when faced with a crucial
decision?
● You need milestones along the way to tell
you whether you’re on track – but on track
to where?
9. #4 You Aren’t Making Enough Money.
“However beautiful the strategy, you
should occasionally look at the results.”
– Winston Churchill
10. If you aren’t making enough money…
● Something’s not working. What is it?
● Do you know how much you NEED and WANT to
make? (They’re different).
● Charge what your solution is worth NOT what
you think people will pay – what value does it
create for customers & clients?
● And if you don’t know, ask. What are the results
worth to them?
11. #5 You Struggle to Prioritise What to Work On.
“There is nothing so useless as doing
efficiently that which should not be
done at all.”
– Peter Drucker
12. If you struggle to prioritise what to work on...
● What’s going to get you to your next milestone
the fastest? Do that.
● What do you WANT to work on? Do that.
● If all else fails, pick ONE thing to do right now
and go and DO that. Don’t stop until it’s done.
● Now GO!
13. Thank You!
If you need a better plan, try this: http://www.
valuesbasedbusinessplan.com/plan