So what is the difference between your new year's resolutions to improve the results that you are getting in your business and a decision to implement new strategies for improvement in your business?
Well I would like to believe not much. Both have a few things in common. Firstly, the decision on its own won't change any outcome or result. It's all about the action you take, or don't take I believe!
It's like saying that you want to lose weight in 2019 and then you don't take any action that is going to deliver the outcome that you want. Secondly, unless you are very clear on the specific results that you want to achieve, or what you really want for your business, will you be committed? Will you be truly prepared to work at it no matter what it takes? Why do you want this? Why do you really, really want this outcome?
My personal experience this last quarter illustrated this clearly. My wife and I planned to do a 5 day, 90 km walk in the Karoo Roggeveld. Yes, it wasn't the most physically challenging event, yet we understood that we had to be reasonably fit to complete the distance and still enjoy the Enduro walk. So having set our goal and made the bookings, yes, by committing some money to the goal it became a reality. We were going to do this, we had real skin in the game!
The date was set, we had to start taking action and do practice walks for improved fitness. Now remember the date we were going to start was set, it wasn't going to change. If we didn't take action we fell behind our targets and no matter what the cause of this we knew we had to make up and practice a little harder and walk a little further next time round! You see we held each other accountable….
The same goes for business goals. You need to set your goals on achieving a certain amount of budgeted turnover or gross profit in Rand for the year. This is then translated to monthly goals, weekly budgets and daily targets. Think about it in terms of the business outcome you have set out to achieve, included is your profit target. You have skin in the game as it is your business and you started it with the odds at an 80% failure in 5 years!
You should also get a clear understanding of who you need to be and what you need to achieve to get there. Getting clarity on the actions and how you need to grow is a key part in achieving your goals. Why you may ask?
The answer is in the detail and lets first understand that if you don't change your habits around eating and exercising, you won't reduce the calories that you take-in and you won't burn off the excess calories that you have already consumed and your body is storing. So in essence nothing is going to change! The same goes for your business, if you don't change and take the correct the actions, the performance of your business won't change.
Look at this formula for success as you plan for success.
Dream x Goal X Learn X Plan X Action = Success
It all starts with a vision and then setting your goals. The problem with your new year's resolution is that you haven't taken the time to set out an action plan in enough detail, with the right conviction and learning that will drive your new habits. You need to set milestone goals for ensuring you achieve your end goal and keep your focus along the way. You might have to let go of old business management habits and learn some new ones that will help you grow your business and improve the results that you are achieving.
So understanding the formula for success and its application in your business is important and implementing the learning element is a must. How else would you ensure that your behaviours, actions and decisions are aligned to the business result outcomes you want? Do you need to work on your skills? Do you have self-limiting beliefs and is your own identity a positive one? Are the values of yourself, the business and the team aligned?
Remember we don't know what we don't know!
Learning through coaching or mentoring, reading a book or attending a seminar will give you new insights and give you a better understanding of what will lead to your success.
My suggested reading for you is "The 4 Disciplines of Execution" by Chris McChesney and Sean Covey for achieving your wildly important goals. Its about focusing on these goals, acting on the leading KPI's, keeping score and lastly accountability to deliver throughout your business organisation.
You see I believe that ….
You need to know what to stop doing!
You need to know what you and your team must start doing!
And you need to understand what it is you should continue with!
Why don't you invest in yourself and in your business and talk to us about attending a workshop, seminar or how to really grow your business and take it to the next level?
Visit our website and complete one of the many business evaluation assessments and get a better understanding on how to run a successful business. A business that delivers profits and that can work without you, consistently.
Have an awesome business results day!