A Little Mistake That Cost $100,000 A Year

A Little Mistake That Cost $100,000 A Year - Don’t Fall Into The Same Trap!
By Michael Griffiths
www.thebusinessleader.blogspot.com
www.michael-griffiths.blogspot.com

What an amazing time December is, summer begins, the days are longer with sunlight, the hot days turn into mild nights, people are out and about having fun letting down their hair after a hard year with Christmas parties, lunches and dinners while catching up with old friends.

In business December, if not November, becomes a very important time. In fact without this time you and your business would not continue past March or April the following year without it becoming a struggle.

I was reading over the weekend that small to medium business owners that fail to set up their goals, plans and outcomes for the following year make $100,000 less than those that do spend the time, set goals, make Key Performance Indicators (KPI’s) and know the direction they should be heading.

I’ve always believed that any small to medium business needs to do nothing other than FOLLOW WHAT THE BIG DOGS DO! Take a look at what the corporate sector does, how do they set goals, how do they plan, how do they market, how do they network, how do they sell, how do they follow up; I think you get the picture. The only difference between a corporate big dog and everyone else is they have more employees and bigger budgets, BUT they can all teach us some valuable lessons to follow and model.

The majority of people have heard the saying “Failing To Plan is Planning to Fail” however all the words in the world are fine until YOU TAKE ACTION. We are now half way through December, do you have a 2010 dairy, wall planner, do you have a plan for January and February, if not for the first six months or even better the whole year. Have you set out some KPI’s to measure your business by, to measure the direction you are heading. Do you have a 5yr, 3yr and 1 yr plan in place? Can you break that down into a 90/60/30 day plan and even further do you know your weekly and daily activities to make it happen for you.

Goal setting and planning is all about knowing what you need to be focused on over that period of time. Through many sources we have learnt that “What we focus on is what we get, to the exclusion of everything else.”

Does this start to make some sense on how you could be missing out on an extra $100,000 in 2010? If your plans and goals aren’t in place then how do you know what to focus on, who are you marketing to, who are you selling to, who do you need to speak to, who are you building relationships with, how many clients can you be working with at any given time? Planning and setting goals allows the answers to all of those questions.

A great friend of mine even goes a step further with his business; he and his wife go away on a 5 day planning retreat. Now, I don’t think they plan for the whole 5 days; however they put aside TIME EVERY year time to reflect, monitor and adjust from the previous year and set out their plans, goals, outcome, KPI’s for the following year. This then allows them to focus on what they need to be successful.

So what are you going to do for the rest of December, Planning to Succeed or Planning to Fail?
I realise that you might have all the right intentions in the world BUT just don’t know where to start.

We’ll here’s what I’m going to do. Send me an email at support@michaelgriffiths.com.au with the subject heading ‘Goal Template Help’ and I will send to you the templates that I use with my business clients.

Remember - Keep Dreaming
Michael Griffiths