Ride The Waterfall

I love January, because January is all about the "big picture". We set goals and prep ourselves to knock 'em down like bowling pins over the next twelve months. It's an optimistic time of year, and since I'm an optimist by nature, I feel like I'm tuned into a huge positive vibe. So, like many others, I want to leverage that tidal wave to its full potential.
You start to hear things like "strategic planning" being thrown about- and if you are in business it's not something that you can ignore. The strategic plan is your blueprint that says what you consider to be the key components to keeping your business profitable and on track now and in the future.
And creating one usually sounds as fun as a dental appointment.
But it doesn't have to be hard or terribly painful. It just requires some time and willingness to capture what you want to do down on paper.
Think about riding the waterfall. You start at the top, and momentum will carry you down.
Write It Down
Personally, I like doing the first draft by hand. Not so much because I can't type it out, but because it's a way for me to be creative, do some mind mapping, and just open up my mind in a different way.
If I'm just doing some doodles, I can't take myself too seriously right? (Although it is, but this just a way for me to add some fun into the exercise too.)
Make sure that you aren't just coming up with a to-do list either. The easiest goal should be a revenue target of some kind, and then you probaby will want to focus on growing (aquiring new customers) and retaining your existing business. Don't be afraid of stretch goals- remember, you have all year to accomplish them!
Be Selective
Once you start going, my guess is you'll come up with a lot of different things that you'd like to accomplish this year. But realistically, you can only focus on the most critcal ones. So once you have your list, then whittle it down.
If you are a small operation, I wouldn't recommend trying to take on too many. (I have 6 strategic objectives for ThinkBlot for 2011, and that feels like a lot!) The items that remain on your list should be high-level enough that you can break them down into several pieces to work on throughout the year.
Break It Down One Level
Once you have your annual goals established, then you move down to quarterly goals. So each goal will have 4 subgoals, and this is important for tracking purposes. You want to be able to say in June for example that you are, at a minimum, 50% of the way towards completion of each goal. (And if not, then you hopefully have a good idea of where things are out of balance so that you can correct for them.)
Cascade To The Bottom
Your quarterly goals can be broken down in monthly goals. From here, if you want to track to weekly goals you can, but only do that if that is something that you can hold yourself accountable too. There can be as much harm in limiting your time for each task within a subgoal (leading to quitting because you didn't make it) as there can be in giving yourself too much time (that you will procrastinate).
The Waterfall Becomes Your Scorecard
Now you've created a simple, tangible, measurable map of your strategic business goals for this year. You have a quick reference for everytime someone asks you about the state of your business. By showing forward progress on each goal, you will keep your own internal momentum going so that you don't quit.
Have you sketched out your annual strategic plan yet? How are you planning to stretch this year?
(photo credit wwarby)
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Saturday, January 1, 2011 at 9:51PM
Christy Smith
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