Weekly Business Idea

March 16, 2018 – Do You Know Where You Want to Go?

Posted on | March 16, 2018 | No Comments

Main Idea:

Are you prepared for the year?  Is your team ready?  Do you have the skills necessary to win?  Do you have the balance and endurance to make it?  Do you have a good cash flow plan?

Expansion of the Idea:

This weekend is one of the most exciting weekends of the year for sports fans.  Of course, I am talking about the NCAA basketball tournament.  Even casual fans get excited because generally the games are very good, the big guys lose, and no one really knows who will win the tournament.  After one day there have been a couple of upsets.  I suspect that there will be a number of surprises today.  That is the beauty of the tournament.  Almost anyone can win a particular game.

As soon as the tournament is over, the coaches spend the next 7 months preparing to get their team ready for next season and then for the tournament.  It is a never-ending loop of vision casting, planning, recruiting, execution, feedback and refinement.  The better coaches have more developed teams of assistants that help them with this process.  No matter how well you do all of this, there is no guarantee that it will work.  However, you do consistently see certain teams at the elite levels so you know that they are doing something right.

How does this relate to your business?

Most small business owners don’t have a finish line for the year like the NCAA basketball tournament.  However, I think we can learn a lot from certain coaches and teams in the tournament.  Whenever I talk to small business owners and ask about goals, I get a lot of different answers.  Most are pretty vague.  Very few owners and managers have specific goals for the current year and for the next three years.  Contrast that with a college basketball coach.  If you ask them what their goal is they will clearly tell you that they want to win the NCAA tournament.  There is no ambiguity.  Their team understands the goal.  Everything that they do over the next 7 months will either lead them closer to the goal or move them away from it.

What would happen if small business owners had the same clarity with their goals?  Would it be easier to develop plans?  Would you be more careful in saying yes to something that could potentially take you away from your goal?  Would you use the NO word more often to get rid of unnecessary projects or systems?  Would you fire that customer that drains resources?  Would you watch your costs closer?  Would you invest in new technology or systems?

The questions and possibilities are endless.  When we are clear on what we want and where we want to go, we make much better decisions and end up with better results.

How clear are your goals?

Here are some possible next steps:

  1. Revisit (or develop) your goals.
  2. Clarify the goals.  Make them very specific.
  3. Discuss your team’s individual goals.
  4. Make sure that they are all in sync.

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  • About

    These weekly ideas are brought to you by FitzGerald & FitzGerald P.C. For more information about how to use these ideas with your small business contact Tim FitzGerald at trfitz@fitz-net.com.