Are you trying to grow your business but seem to be getting nowhere? You may not have a destination in mind. Failing to create short-term and long-term goals is typically why business growth seems to be stagnant. In this article, we share 5 tips to ensure you are on the roadmap to success!
Think of the last trip you went on. Whether a small trip across the state or a big one across the border, any journey requires careful planning to ensure you make it to your destination safely and efficiently.
The same goes for your business. If you are on the journey towards success, you have to be diligent in creating a map to reach your destination.
Unfortunately, many business owners neglect this. They do not create short-term or long-term plans and live in the cycle of “find work, do work.” There are two major issues with this. One, they are losing valuable time by focusing on things that do not work. Two, their business doesn’t grow and they become stagnant in their progress.
Let’s begin with this question: Where do you see yourself in 5 years?
5 years is the timeline that we typically set long-term goals to. That’s because a lot can change in five years, especially with proper planning and determination. Within the 5 years, you can break down the timeline to 2 years, 1 year, quarterly, and one month to define short-term plans.
It is important to be planning for these scenarios, as “if you don’t have a plan, you’re already there.” Failure to plan leaves you right where you at, you do not improve you do not reach success.
Now, everyone’s definition of success is different because of the type of business and personal goals. So, you will need to define your destination in your road map by defining your success. For some, that may be entrepreneurship or franchising their business, it is up to you, but it has to be well-defined and obtainable.
Consider these things:
1. Starting with the end in mind means you know what you want your business to look like when it is operating, growing, and profitable even when you are no longer in charge of daily activities.
One of the goals of ActionCOACH coaching is to become true business owner. That means that your business and team are created, and you no longer have to be managing the day-to-day operations of the business. This is the vision that we help our clients achieve towards, but maybe this is not your vision. Maybe your ultimate goal is to continue climbing up the entrepreneurial ladder by pursuing other business endeavors. Whatever it may be, if you do not define it from the start, you will not obtain it at any time.
2. Developing a family “Bucket List Plan” will ensure that your entire family lives the life they want because they have a plan mapped out with action plans and timelines.
Sit down with your family and talk to them about what they desire for their future. This can include traveling or relocating. If you have children, they may want to go to college or take over the business. If you have a spouse, they may want to retire or start their own business. Your family has just as much influence on the direction of your business’s roadmap as you do. Once you consider all the future factors, you can create a roadmap that considers these events. This makes sure there are no road bumps along the way and that you can avoid as many unforeseen curves as possible.
3. Knowing what you don’t want is as important. Being able to articulate what you want to avoid will crystalize the activities and actions you need to take to avoid the negative outcomes. Think of the Law of Attraction.
Another good practice is to think of what you do not want for you and your business. Obviously, you want to avoid failure or bankruptcy, but some other things can include franchising, having an overdraft, living paycheck to paycheck, or doing everything yourself. When you think of what you don’t want, then you can focus on achieving the opposite. This will point you in the right direction towards success.
4. Who your peer group is and who you surround yourself with goes a long way to helping reach your goals. Removing those that block your progress or don’t believe in your vision is critical to reaching your ultimate destination.
The company you keep around can have a significant effect on your mindset and thus, your business. Start with looking at your team of employees. These are people who have a direct hand in your business. If they are unmotivated and lazy, then your business will not progress to where it needs to go. Trim the dead leaves so that your business can grow.
Also, consider who you’re networking with. If you surround yourself with like-minded business owners who are also striving for success, it will motivate you to pursue success. You can gain valuable knowledge from them that you can implement in your business and vice versa. But beware of business owners who are stagnant in the progress of their business as they can also hold you back.
5. Assessing your progress in the past helps you determine the possibilities before you. Sometimes we underestimate how much we can accomplish. But when we look back and really review all we have done in just a year; it opens up a world of opportunities. Focused and dedicated action can move your business and personal life forward much quicker than you think.
This is one of the most important things you can take away from this article. If you are not currently tracking everything you do related to your business, you are putting yourself at a serious disadvantage. You should track your financials, profits, spending, marketing - everything. Doing so will allow you to properly assess your progress; past and present. You can then see what areas you are doing great in and what areas you can improve in. Use these as opportunities to propel you forward in your roadmap.
Start Where You’re At
So get started today. Don’t wait any longer to create a plan for you and your business. Any hesitations will only lead to delays in the roadmap and make success less attainable. If you need help to plan your roadmap we suggest using our Business Health Check tool to assess areas that need immediate attention. You can then factor these into creating your roadmap.
If you need more assistance, contact us today to get partnered with our certified Business Coaches. Take advantage of our complimentary 30-minute call to begin your journey towards success.
I am a certified Business Coach, providing business help, business advice, business coaching and mentoring services to successful and emerging business owners. I have a passion for helping businesses like yours grow and become profitable, so you, the business owner can enjoy the lifestyle you deserve.
As your Business Coach and advisor, I will help you deliver the results you desire using proven tools, methodologies and systems, tested and perfected over tens of thousands of businesses worldwide for over more than two decades. I will hold you accountable for your results and just like a sports coach, push you to perform at optimal levels. Let's schedule a complimentary Business Coaching session to get started.