Today Could Be The First Day Of Your Renewed Business
Clear goals and objectives make the difference between getting things done in your business or not so much. Intellectually as an entrepreneur you get that, however, have you clearly written your goals and objectives and communicated them to your staff or team?
Many business owners and entrepreneurs struggle with the process of creating a written foundation for their business. Most times the thought is overwhelming.
When you’re working so hard IN your business it’s difficult to take a step back and work ON your business. This is especially true for new business owners. However, don’t dismiss the importance of writing things down as you go along.
As a minimum there are 6 Key elements you should prioritize as you create a guide for your business operations. These 6 elements can renew the focus and speed at which you and your team operate and the path your business takes.
The 6 Key Elements for a renewed business:
- Mission – What is the mission or purpose of your business?
The mission of your business is usually related to or in line with your life purpose. What is it that you do? Write a clear statement about what you do and why you do it. Communicate your mission statement with your team so that everyone knows what the mission the business is. A recommendation is to print the mission statement out and post it on the walls and send it to your team. Everyone must understand your purpose and mission so that everyone is working on the same page. Knowledge is power!
- Vision – Your vision creates the climate upon which your staff or team will operate to accomplish your mission.
To create a vision, close your eyes and think about your mission fulfilled. What does your clients say about you and how you helped them, how does your staff feel about working with you, do new client come to you effortlessly and easily, what is their experience?
Write down your vision as it supports your mission. A great example is to study Zappo’s. See how the mission and vision were created and a culture was created that few businesses match.
- Goals & Objectives – Goals and objectives are the action steps to get things done in your business.
There are several types of goals you might develop. There are overall (big picture) business goals, yearly goals and short tem goals. Each goal should have specific objectives that support the accomplishment of the goal. Goals must be written using S.M.A.R.T. Principles…. Specific, Measurable, Attainable, Relevant, and Timely. Without using S.M.A.R.T. goals are simply wishes.
- Communication – Communication is the key to getting things done.
Business mission, goals, objectives and accountability items must be clearly communicated to your staff or team. Communication promotes a “buy in” from your support staff to your mission. When your support staff “buys in” they feel part of the process and will take personal responsibility to help you reach your goals. Two-way communication, of course, is the best because the team performing the work will have unique thought on what’s going well and what is not. This process gives you the information to make informed business decisions.
- Measurement – Developing a system to measure the progress of your goals (long term and short term) and objectives is critical because you won’t know when you reach your goals if they are not measured. It really is the old adage… Numbers Don’t Lie!
When you write your goals using S.M.A.R.T. Principles, you will have already determined the outcome in terms of how many and the time frame (deadlines). Use a simple tool such as a checklist or spreadsheet to measure the progress of the goals.
- Accountability – When tasks and responsibilities are communicated to your staff or team, hold them accountable for completing the tasks within the time frame and standards you expect as the business owner.
Simple checklists or daily reports from your staff will allow you to see who is performing and who is not. Also if there is a challenge to getting a certain task completed you will immediately be able to key in on the challenge and make adjustments as you deem necessary.
As shown by the illustration above, each of these key elements are interrelated. If you are just starting out in business, don’t delay setting up your foundation for success. If you’ve been in business and haven’t communicated and written down your mission, etc, don’t put it off any longer. You will see your business transform and be renewed quickly. You will accomplish more at great speed and be able to work on income generating projects.