Consider Linda’s cleaning business that has operated since 2010. Her business is bringing in enough cash to keep going but never enough to take off and provide the income that she and her employees really need. You can call this a Business Running In Place or a BRIP. Linda wants to stay afloat so she gets revenue wherever she can get it. She takes on any job she thinks they can do that may or may not fit her original idea for the business. Sometimes she underprices a job just to get a deal quickly. Sometimes they also hurry the job just to get cash quickly. Consequently, they often find themselves not doing the job well. If they have to go back over the job, the project goes over budget and over the scheduled time frame which makes the cash crunch worse. She chases revenue, any revenue. Linda takes on non-strategic work and the cycle of just getting by continues. She operates as a BRIP for several years. How many businesses do you know that can be characterized as BRIPs? The owner of a BRIP thinks that the problem is cash, but the actual problem is time. He or she thinks they can’t afford to take the time to think, create and stick to a strategy. These owners and employees are working as hard as they can but not very productive because of a lack of real measurable progress toward a particular goal.
Businesses will not grow without strategic planning and management.
“Victorious warriors win first and then go to battle, while defeated warriors go to war first and then seek to win” Sun Tzu
Five guides for strategic management:
1. Know what you offer, who you offer it to, and why it is important to them.
2. Never stray from your strategic plan unless you make a deeply considered decision to do so.
3. Refuse to take on work that is slightly or not quite related to your strategic work.
4. Never deliver work that is just okay.
5. Never over promise and not deliver.
Let’s think of a strategic plan as your business GPS. It shows your turn by turn navigation because your goal is always in sight. It is your roadmap that gives a clear picture of the mileage(time) and fuel(resources) required for your destination. GeniusCore can help you develop and execute a strategic plan that’s perfect for you growing business. Call or email for an interview.