Todays Impact Minute: January 1 is only 49 days away
Yes, this is correct. 49 days until January 1, 2019 (as of 11/12/18). When you think of the upcoming Thanksgiving Holiday, Christmas and New Years, to be honest, that is not a lot of time.
As you are finishing up 2018 how is your business doing? Are you ahead, right at or behind your goal? What will it take for you to meet your objectives in 2018?
I have another question for you. Have you started strategic planning? Is your strategic planning for 2019 going to be effective?
Strategic planning is one of the most vital parts of a business but can also appear the most intimidating. Whether you are the only person in your company or you are a larger corporation the importance of strategic planning cannot be overstated. If done right it can lay the foundation to develop clear actions to help you achieve your defined goals by appropriately allocating your 3 key resources (time, team, money). If done wrong, you can miss key inputs or blind spots that will catch you literally "flat-footed" resulting in missed opportunities to grow or achieving your goals.
How will you know if your strategic planning is effective? Let me ask you 5 questions and score yourself on a 1-5 scale. 1 is a solid "No" and 5 being a solid "Absolutely!"
1.) The 2018 plan that you created focused our business on the key actions you needed to accomplish resulting in positive results in the business.
2.) The 2018 plan identified potential blind spots in your company which could have been costly if you were not ready for them.
3.) The 2018 plan documented and incorporated key inputs from sources including suppliers, key customers, market trends, 2017 performance, SWOT Analysis, and your companies mission, vision, and values.
4.) The 2018 plan was reviewed at least 3 times through the year for accuracy or adjustments that needed to be made.
5.) The 2018 planning process was documented to help you know how to do it, and do it better in 2019.
How did you do? Did you find a few areas where you were "Absolutely" but also a few areas that were not quite as high? Did you find one or more "No" areas? So what do you do now that you know this?
If you didn't score as high as you wanted, think of the negative impact it had in your business. Did you have lost time, missed opportunities, slow response time, or running more in reactive mode versus proactive mode? Put a dollar value on each one and see how much it cost? If you could have kept 25% of that negative impact from happening would it have been worth the effort? What about 50%? Can you see the importance?
If taking your strategic planning process to the next level or even just starting to develop a process would have a positive impact on your 2019 I would like to connect with you to discuss how to move you to the next level.
2019 is going to be here before you know it. Are you ready?