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?