Let’s Talk Strategy!
As we head into a new year, what are you leaving behind? What are you changing? I don’t mean in the resolutions kind of way because we all know how they end up, don’t we? No one needs another NutriBullet covered in cobwebs or that gym membership fee on your bank statement each month that doesn’t quite instil enough guilt to make you call in on your way to work!
Even the word ‘resolution’ seems to have a subliminal message within it that says “Stick with it until the 4th January at best, then find some lame excuse.”
No, what I mean in this instance is that it’s OK to grow and change and develop as a person, as a business and as a brand. In fact, it’s more than OK, it’s imperative.
“To create and implement a successful strategy, you need to be able to constantly and objectively evaluate your strengths, your weaknesses, your successes and your failures. “
As a business owner, you can never afford to stand still. There will always be someone new doing what you do, with all the enthusiasm and vigour of a new starter, just itching to step into your shoes and wow your clients.
There are no totally unique ideas anymore. In fact, if any of my clients come to me with an idea that no one has ever had before, it rings alarm bells because it means that it’s probably not a very good idea!
So constantly evolving, learning, growing and improving are prerequisites, especially at this time of year when we should all have our planning hats on.
But to do this, you will need a strategy, and to create and implement a successful strategy, you need to be able to constantly and objectively evaluate your strengths, your weaknesses, your successes and your failures.
And when this analysis is taking place, and hopefully you find you are doing well, hitting or even exceeding your targets, you cannot, and must not ever take your foot off the gas.
Being strategic simply means – “the identification of long-term or overall aims and interests and the means of achieving them.”
“Start by making sure that you clearly define your business vision.“
I love this description, because it is so simple and concise in its twofold message.
- You identify your aims, goals and targets.
- You then move on to how you are going to achieve them.
Some time back, I changed my official title from Business Coach to Business Strategist. My main reason for this is that I believe your strategy is your roadmap, your rulebook, your yard stick and your instruction manual for running a consistently profitable and developing business.
In my usual, simplified way of doing things, I put it like this!
Business Coach : Helps you find the answers within yourself.
Business Strategist : Tells you what to do. No excuses accepted.
I love the strategy. I love the process of helping my clients with their visualising, planning, amending and achieving. When they stick to the plan and trust the process, seeing their strategy become a tangible reality is a feeling that is hard to beat.
So how do you plan for your business at the start of this new year? How do you set targets that become milestones not millstones?
Well, my advice comes back to simplicity.
Start by making sure that you clearly define your business vision (where you want to be in the future) and your mission (why your business exists). Your strategy should align with these guiding principles.
That is your starting point, and your fundamental, underpinning reasons for everything that you and your business do, in any scenario.
Once you have this in place, you can move on to creating your strategy.
Remember business isn’t complicated, it’s just people who like to make it complicated.
Lisa’s Top Tips
Don’t listen to the voices
To help you get your strategy nailed, here are my top five tips for creating achievable and challenging targets for the year ahead, along with a comprehensive strategy.
- Reflect on the Past Year: Start off by reviewing the previous year’s performance. What worked well, and what didn’t? Be honest here, there is absolutely no point in kidding yourself. Take time to analyse both your successes and failures. This will highlight areas for improvement.
- Set Clear Objectives: In the corporate world, the term SMART objectives is used all the time, and it’s actually a pretty good way to do this. It just means they should be Specific, Measurable, Achievable, Relevant and Time-bound. As mentioned earlier, use your vision and mission to make sure these objectives align with the overall values of your business.
- Monitoring and Measurement: Another nod to the corporate world! I strongly recommend establishing key performance indicators (KPIs) to track your progress. I resisted this for some time, but as my business grew, I realised that it’s absolutely crucial in giving you the ability to review and adjust your strategy based on the data and feedback you collect.
- Flexibility and Adaptability: If you cannot adapt what you do at very short notice, you will always struggle in the entrepreneurial world. Be prepared to adapt your strategy in response to unforeseen challenges. These could be related to financial issues, staffing matters or issues that are totally out of your hands, but flexibility is key to long-term success.
- Remember that planning is an ongoing process. Regularly review your plans and adjust them as needed. Don’t be afraid to make changes, and by reviewing regularly, you will be in a position to do this with confidence. Your ability to adapt, tweak, develop and ultimately improve your plans will play a massive part in your business’s long-term success.
Regular Columnist: Article published in Brand You Magazine – Edition 28
Lisa Johnson, founder of Lisa Johnson Strategist
Lisa is an inspirational leader, business strategist and Sunday Times best-selling author who helps ambitious people create passive and semi-passive income streams. She has over 50,000 followers on social media.
Instagram: lisajohnsonstrategist
Website: lisajohnson.com
____________________________________________________________________________________________________________________________________________________________________
