The last two weeks of this four week series have been about strategy (week 1) and systemization (week 2). Your strategy sets the stage while systemization puts processes in place to make the business less reliable on just a few key people, including the owner. With a strategy you know where you're going and having systems that allow for delegation, frees up time to execute on the strategy. Week three now, is about PROJECT MANAGEMENT and EXECUTION... implementing your strategic plans and moving the needle to improve the value of your business.
Last week I began this series of posts discussing strategy. I talked about considering and crafting your plan. What's important to building value in your business, how will you prioritize what's important, and then how will you implement those prioritized value drivers. You can view my last post here. This week I discuss PROCESS documentation and SYSTEMIZATION... elements that should be high priority on your strategic plan and here's why.
Over the coming weeks I'll be serving up "bite-sized" posts - four of them - that will cover the four key factors I implement with my clients to build business value.... Strategy, Project Management, Systemization, and Marketing... across the 8 key drivers to business value (I'll blog about those next) as they prepare to exit. But be sure to note that although I focus on "the exit" these same factors apply to any business seeking to build business value. Today we start with STRATEGY.
The end of the year is both a time of reflection and a time for projection; what have you done over the past year to create value in your life and in your business; what do you resolve to do in the coming year to improve that value. This is the time of year people make resolutions to lose weight, get fit, and generally do things to better themselves and their lives. If you’re a business owner you should be thinking about these same things for your company… what are you going to do in the next 1-3-5 years to better your business and your life?
How is your business seen in your community, by your customers, by your suppliers, by your partners?
How do your customers, suppliers, partners, staff talk about you to others?
Are those unfamiliar with your business getting a good impression? Is it likely they will do business with you based upon what they hear, read, and experience?
Are these things important to you?
If you’re not managing it, someone else is creating it… “it” is your reputation… online and offline.
Well, since this is my first blog post I thought I would make it about what I do and what I’ve seen working as a project manager over the past 15+ years. This is a foundational blog post sharing my views on what project management is and is not and what project managers do and don’t do.
Some people have a misconception about what project management is and what a project manager does. In the end project management is about executing change in your business*. A project manager helps facilitate that change, helps to ensure success across the business, and helps reduce the stress a company feels about the change through effective organization and education. The change might be wanting to grow (or even a start a business) with the implementation of a marketing project. The change might be a result of growth you have or are experiencing, it might be a technology deployment project, it might be an office move, it might even be preparation efforts for the transition of ownership/sale of your business to someone else… your exit strategy.