Strategy: Is Your Goal a Place or a Direction?

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Strategy

Strategy

You started out putting together something that you could call a Business Plan, right? If you had some help, or needed one to present to the bank or some investors, it was probably pretty detailed and held most everything you hoped to accomplish and how you would get there, all in one hefty document.

Then you launched your business, and got down to the day-to-day of keeping things going and growing.
The months and years flew by. Some products and services took off, and others flopped. You made adjustments, and kept at it. You marketed to your select audience the best you knew how, taking advantage of every free or low-cost method you could find so you could keep costs down. Your strategy, such as it was, was “Keep Things Going!” It worked for awhile…

Now it’s been several months or probably years. You’re working like crazy, but the return has slowed. Even if you’re getting new customers, you’re not getting as many return customers. Your products and services have changed a bit (or a lot..), but not much of the other pieces of the business framework has. You’re still not as profitable as you need to be to REALLY be making a living. You keep looking for things you can alter a bit or tweak to squeeze out more, but you’re running out of options.

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Draw the Line from Problem to Strategy and Back

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Problem to Strategy

Problem to Strategy

I wrote an article awhile back called Reaction is Not Solution. In it I wrote about how you can discover a problem and are then presented with a couple of different paths to solve it. Unfortunately, the culture in many businesses is to not even bring a problem to the surface unless you have a solution ready to share. In that article I go over why that’s probably not a great idea.

While it was more about decision-making and problem-solving, I never addressed strategy and planning in that article. Admittedly I am in a different position now as an entrepreneur, and it can seem to others that I can afford the “luxury” of working on mapping strategy and plans to a problem, spending the time needed to research and virtually test possible scenarios before heading in a single direction. I’d like to say that (a) that always happens, (b) it always works, and (c) I always have time to do it. None of those is true. So, the only difference between my current state and that of when I worked in corporate is that now my own business needs drive my discipline to the process, as opposed to the requirements laid on me by my manager. The latter is annoying, but the former will raise the hairs on the back of your head, believe me.

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What’s The Truth About Your Big Bang Theory?

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Big Bang Theory

Big Bang Theory

The Big Bang Theory.

No, not the TV show or the Universe Origin theory. I mean what’s your plan (personal and business) for when something catastrophic takes place? Not only that, but, as anyone who has lived in the world of business for a while knows, there is likely some distance between “theory” and “reality.” That’s the problem…

Many businesses have a disaster plan. Call it crisis management, emergency management planning, or what you will, if you have spent time identifying likely disaster scenarios, you have invested in creating plans for them that will mean less disruption to you and your business. There are an enormous amount of resources available for the Small Business Administration here, which are helpful in the process. However, it is impossible to plan for Every Single Crisis you could confront. Not only that, but the test of a plan is how it works when the event takes place, and this is where a lot of businesses fall down. Business catastrophes are many times predicated on natural disasters of some sort. That is well and good. There are other disasters, aside from death (dying is a real problem, obviously, but not the focus of this article….), that take place. Many of these are personal, and can have a huge impact on your business, especially if you are a solo-preneur.

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Can You Attack the Same Problems with Novel Perspectives?

Strategizing

Strategizing

A hundred people at an event heard the word “Strategy” as part of a presentation I gave recently. Likely there were at least a hundred different interpretations and mental pictures that lit up for the attendees, some very related and others quite different from the others. Each was a product of their experience, education, beliefs and prejudices. This fact gets to the heart of effective, and ineffective, communication….always a challenge, but a well known one. As Valeria Maltoni has written, “There is more to semantics than meets the eye.”

Just like having a solid business plan, having a marketing strategy that supports and advances that plan is crucial to success. Many programs, classes, books, and online tools (along with tips and suggestions of varying degrees of helpfulness….) may help you assemble a business plan that will pass muster and get you going. To many entrepreneurs and business owners, though, marketing strategy embodies a different kind of geography in their thoughts and can have too many connotations to list. Nonetheless, here are two thoughts you need to consider, regardless of your particular definition:

  • Vision without action is a daydream. Action without vision is a nightmare. – Japanese Proverb
  • However beautiful the strategy, you should occasionally look at the results.  – Attributed to Winston Churchill
What does a strategy get you? It can establish a specific direction, a foundational launch pad, for your business, focus your resources, generate a plan that is both effective and agile, and give you a reliable way to “gut check” your direction and efforts over time. Most business owners I have met are world-class technicians, but struggle with strategy. Even those who have had some education and experience in that area can suffer from being too close to their particular industry and business, thereby missing the “We don’t know what we don’t know” gaps in what they put together. What they need to do is get some expert help putting together (or reworking…) their marketing strategy….bring someone on board to view these problems in new and novel ways.

All of the books, articles, templates and other information inputs we encounter bang on about the importance of goals. When I initially think of goals, especially in the U.S., I am presented with the mental picture of a football goal post. This implies that once I Hit The Goal, I’m done. Of course, many of the resources I mentioned earlier encourage you set new goals, circling back and starting the circle of attainment over again. That just feels kind of jerky to me. In her article “On Strategizing” Maltoni quotes Scott Adams on why a system is more useful than goals:

“For our purposes, let’s agree that goals are a reach-it-and-be-done situation, whereas a system is something you do on a regular basis with a reasonable expectation that doing so will get you to a better place in your life. Systems have no deadlines, and on any given day you probably can’t tell if they’re moving you in the right direction. My proposition is that if you study people who succeed, you will see that most of them follow systems, not goals.”

I tell my clients that, once they build and initialize their strategy, implementation becomes a “horse they cannot get off of.” The majority of them are not happy with that message. As a business owner, if they’re involved in a project, they want it to be a project….that is, it is this lump of work that they (or the hired expert…) can complete and get off of my desk, so they can move onto the next project and get back to selling their products and services. When reminded of the importance of working ON the business as well as working IN the business, and how it strengthens the business, the strategizing process and system look much more valuable and key to growth. The dynamics of every business now require a consistent process and may require much more frequent course corrections than in the past (or in the past as we perceived it…). A sustainable business depends on making dynamic choices. Regular, if not constant, co-ordination of the current state of things with what is on hand to work them out is the new norm….fixed objectives are not viable because of the more frequent and unknowable disruptions our society and world endure daily.

So, the novel view: A Strategy feels like a “One-And-Done” item which, sadly and frequently, ends up in a filing cabinet. Strategizing is an action word. It’s something you do with some kind of frequency because of the need for it in your business. Again, many business owners are not expert strategizers, and that’s OK. As I mentioned, they are world-class technicians for their business’ focus. Do some research, get some recommendations, and start up a valuable relationship with an expert strategizer for your business.

What could be more valuable than establishing your business system of growth and success, and not just “hit the sales goal for this quarter”?

How Much Do You Compromise Your Planning?

Compromising position

If you don’t see it, it’s still there….

Planning is not something that comes naturally to a lot of small-to-medium business (SMB) owners.

Oh, we’re pretty good at planning out our day’s work, maybe setting up appointments and some are even pretty good at prioritization and time management. When we started out, we might have even gotten some help, or at least a copy of a template and some instructions for someplace, and created an time that we pronounced as our “business plan”. We promptly placed it in a folder, slapped it into a drawer of some kind, and proceeded to find some customers and get some work so we could get the revenue going. Besides, the primary we founded this business was so we could do something that we’re REALLY GOOD at and enjoyed doing. “As long as I’ve got a good pipeline of customers, I’m good!” has been the thought from the beginning. And that’s NOT entirely wrong…..but…..

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What Is The Secret Truth About Your Marketing Plan?

Digital Marketing Strategy

So you have a strategy for your digital marketing?

Working with the swirling realities of digital and social media marketing can feel like trying to quietly tread water in a really nasty river rapids that never ends….and then there are the rocks to avoid. As a business owner it’s hard enough. As a marketing professional, it is mind-numbing at times….still, that’s part of what I do and I confess to a kind of the same excitement as that metaphoric water-treader.

I have recently started working with a client who floored me by having something I have not seen in a long time at similarly-sized businesses: an actual Marketing Plan.
Really.
The business owner pulled it up on her laptop and I wanted to hug her…

This isn’t to say that other business owners haven’t spent time thinking about their marketing, but this owner had taken the next step and mapped it out for the next year….and even looked beyond. I identified a number places in the plan where I can add tremendous value (hence our starting to work together…), and we began to discuss the goals, measures and value we can bring to the business. I am totally psyched to begin this project!

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FOCUS: CAN’T SEE IT? YOU REALLY NEED HELP!

You are Very, Very Good at what you do!
That’s one of the reasons you started your business. You’re good at it and you love to do it. So, becoming your own boss seemed like the way to focus in on this passion and expertise, and deliver the benefits to others who are willing to pay you for it. Seems simple, right?

You read a few books, talked to some other friends and maybe even a few other business owners….even took a class or seminar. They shared their experiences and support for this move in your professional life and told you, “GO FOR IT!” You did some research and maybe even made your proof-of-concept available to some people, getting feedback and valuable input. None of this was easy, and you discovered a few things that set you back a bit and maybe even discouraged you, but you are determined….no turning back!

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FOCUS: The Simple Obsession of Mindful Marketing

Mindfulness is a light of honesty within yourself that is fed by each moment that passes.

Mindfulness and “being in the moment” are ancient ideas found across cultures. This self-awareness is partly being truly aware of the moment, and partly acknowledging and letting go of the things and thoughts that cling to you or come flying back at you, only to be noticed and let go of again in that moment. It’s an enlightening and maddening place to be, for sure…

I read an article by Seth Godin recently about self-awareness and marketing that brought me to reconsider the role of marketing in my thought life and decision-making process, and in that of my customers and yours, too. To say that we are all relentlessly marketed to by just about everything and everyone is a statement of the obvious that we have become so numb to that we tend to ignore it.  We are in danger of losing the awareness that can allow us a margin of critical thinking.  Godin writes, “Mostly, marketing is what we call it when someone else is influenced by a marketer. When we’re influenced, though, it’s not marketing, it’s a smart choice.” In other words, it’s not “just marketing” when it influences me! I’m not as influenced by the marketing beast as “those other folks!”

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Obsessed With Success for 2016? It’s Almost Here!

Is there an actual name for the time between Christmas and New Years? If there isn’t, there should be…..it always feels just plain weird to me.

That said, it’s that time when I take a look back, past the shredded wrapping paper, immense amount of food and goodies, emergency trips and 2016 business planning to the Top Five Posts for December. There’s always a lot to be learned and reminded of, and these articles do the trick!

Lots O' Social Media

Lots O’ Social Media

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What is the Remarkable Power of a Daring Vision?

I’ve been thinking a lot about vision and goals lately. As the incoming president of my business networking chapter, I’ve been meeting with the outgoing leaders, my leadership team, our regional leadership, and other strong leaders and leadership coaches within the organization, as well as talking with other leaders (not to mention the guidance and advice available from so many in books and online….). I keep pulling back, looking for simplicity and clarity….an awareness of the possible while casting my thoughts wider to “Why?” and larger destinations and possibilities.

The idea of S.M.A.R.T. goals is pretty well known. As a review, S.M.A.R.T. stands for:

  • Specific – Goals should be simplistically written and clearly define what you’re going to do.
  • Measurable – Goals should be measurable. In this way you have tangible evidence that you’ve accomplished them. These can include the Big Goal measurement as well as measured milestones.
  • Achievable – Goals should stretch you slightly so you feel challenged, but defined well enough that you can actually achieve them.
  • Results-focused (or Relevant) – Goals should measure outcomes, not activities.
  • Time-bound – Goals should be linked to a time-frame of some kind that creates a practical sense of urgency, or results in tension between the current reality and the desired end-state. Keep in mind the Achievable aspect of the goal when setting the time-frame, of course.

Vision is a different kind of animal. Very different. Setting a goal for monthly sales or post engagement on Facebook for the quarter is not a vision. When building goals we tend to look at the recent past as a starting point and build on that (or, if starting something new, look at a similar process, product or business, try to extrapolate an “oranges to tangerines” comparison…not exact, but close enough…). Creating an effective vision means freeing myself from my existing reality and think broadly of possibilities and destinations. This is not “pie-in-the-sky” dreaming, but a deep look at an ideal future. Several writers I have come across lately use Dr. Martin Luther King‘s “I Have A Dream” speech as an example of visionary leadership. While his goals within that speech included a number of the steps that would be needed to make headway toward the vision, the vision was So Much Bigger. He described exactly what the American scene would look like when the full impact of his goals were felt and implemented. One famous section is:

“I have a dream that one day, down in Alabama, with its vicious racists, with its governor having his lips dripping with the words of interposition and nullification; one day right there in Alabama, little black boys and black girls will be able to join hands with little white boys and white girls as sisters and brothers.”

In your mind’s eye you can see what that looks like! It is so much more grand that the end points of a number of goals.

Goals may be ambitious by themselves. A big one mentioned by another writer was when President John F. Kennedy committed the country to placing a man on the moon and returning him by the end of the 1960s. Huge Goal! But what came after? Other than getting there and back again, what else was there? Hence the problem of coming up with a compelling vision for further space travel and exploration (although a number of futurists, respected scientists and writers try). There is, at present, no strong, heart-stirring vision for exploration and travel that we can, as a society, turn to and say, “That’s it! Let’s go!”

Apply this exercise to your business. When you sat down and created your business plan, you undoubtedly created goals, milestones, and outlined some measurable processes to reach those goals. But, speaking to your vision, why are you actually in business? What does your community, your industry, your world look like as a result of you having created this business, provided what you provide to your customers, and spent so much time and so many resources on its success?

Is your vision a “shining city on a hill”? You can make it so.