Uncertainty of the Future
Whether you own an established business or a startup, the day-to-day hustle of running a business can send your intentions to oblivion. With fires to put out in every corner, you are drawn into a reactive state of mind that you carry with you into the next day, week and year.
With a coherent strategy, your company will have identifiable business objectives and a specific set of tasks to fulfill them, putting control back into your hands. Objectives are used to develop short to long-term growth and productivity plans, essential for the sustained success of your organization.
Lack of Accountability
Every single problem is dumped onto your desk. From front line employees to middle management, they identify the problems and expect you to come up with the solutions. Yet they argue about why your solutions will not work.
Business strategy creates an environment and culture where people are empowered to think for themselves, develop their own solutions and work together to implement them, owning and accepting accountability for their implementation.
Also, leaders invested in a strategic planning have greater internal focus and are less likely to let outside factors and influences negatively weigh them down. With their strong belief that outcomes are not outside their control, leaders take responsibility for their actions and people are more willing to support and follow.
Lack of Time
How many times a day do you say, “I don’t have time” or “I don’t have enough time”? Lack of time is a common problem that plagues small business owners.
A business plan and strategy will allow you to better understand the value of your time and buy, find and create time as needed. They are used to allocate resources into projects and operations that need them, create budget and projections. Without it you may not understand the true financial implication of doing it all and the value add of delegating to outsourced professionals.
How much more successful would you be if you could spend 90% or greater of your energies on what move your needle?
Author: Carine Dieudé, Partner, Director of Strategy, specializes in growth strategies, systems and operations, for small and medium size businesses.
Altima Business Solutions, “Empowering You To Focus!”
Altima Business Solutions is a full service Management Consulting Firm specializing in helping business owner maximize efficiency, profitability and company value to improve the lifestyle of employees and management.