Taking the time to clarify your personal / business values and vital priorities is a game changer.
If we are unsure of our values and priorities, then we are faced with hundreds of decisions every day. For example,
- Should I turn a blind eye to something, or speak up?
- Should I buy the cheaper product packaged in plastic?
- Should I take on this new opportunity which will mean more income but less family time?
- Should I make 5 more sales calls when I am really not feeling like it?
- Should I indulge in this treat when I am trying to lose weight / save money?
Making hundreds of mundane daily decisions sucks our energy and productivity. But once we clarify our values and priorities then daily decisions are simpler. Time is saved, our decisions will be more consistent and congruent with our goals and values.
A Q2 one-page business plan identifies the shared values of the business as well as the annual business goals. The “10 Hats” business planning process sets the key goals, priorities, and tasks for each of the ten departments.
This means that when faced with decisions such as “should we take on this new customer?” or “should we fire this customer?” there are clear decision-making guidelines to follow. For example, is the customer in our target market? Are we trying to grow our market share? Based on our customer ranking criteria are they an A, B, C or D? And so on.
Reviewing your business plan each week when planning your weekly activities and priorities improves productivity if you block out time in your calendar for the implementation of the tasks necessary to achieve the business goals. This is “putting the big rocks in the jar first”.
While it takes time and energy to develop an effective business plan the payoff is exponential. The business plan creates clarity about priorities and key tasks. It helps us stay on track when we start drifting.
As Peter Drucker says “Don’t make 100 decisions when one will do”.
The decision to create and implement an effective business plan will save you time and money, provide clear direction in these uncertain times, and help you achieve your goals.