HALF-TIME STRATEGY SESSION for Business Success

So, we're at half time!  We are right about half way through the year, so it's time to borrow a little "half time strategy" from football, assess how we've played this first half and refocus our "game" for the next half.   So, where are you in terms of accomplishing what you set out to do? If you are like me... Don't be tempted to diminish your goals, make them "smaller" or more "doable".  Instead, take the only true shortcut to your success:  STRATEGIC PLANNING.  It's half-time, my friends.  It is time to run off the field and spend some precious time on developing our 'game plan' for the second half of the year.  Here is what you will need:

• FOUR hours of uninterrupted time
• Your planner for 2009 - making sure that you can see a month at a glance
• Your planner for 2008 may also be useful if you have it.

Please resist the urge to complete this activity in less time than allotted.  I know you are busy, I know you may have (seemingly) more pressing things going on.  I know you may be "disheartened", and that your kids are now home from school and require your attention and that the economy is slow.   But, the most UNDER-UTILIZED and most productive activity you can do for your business is strategic planning.  You won't realize its immense potential until you've done it for the first time.   Let's get started!

 THE PAST  (30 minutes)

Before we begin planning for our future, it is wise to take a look at our past.  Not to beat ourselves up or make us feel "bad" but as an assessment and planning tool.   This 30-minute activity will serve as a fundamental tool in our "Half Time" Strategy session. 

So, to begin, take out your 2009 planner and turn to January.  Starting there, take an honest look at each month through June.  Make a note of the most successful events or activities for each month.   You will want to make sure you build more of these activities into the rest of your year.  But also write down those things that were "disappointing"... those events or activities you would describe as "total wastes of time".    You will not want to repeat these for the remainder of the year.  

Does this seem to be one of those statements that should "go without saying"?   As a business coach, I disagree. I think it is a statement that bears repeating!   Many times I will hear from business owners who continue to do things that are unprofitable (and unenjoyable) for them, regardless of how futile the results prove that activity to be.  So, if an activity is not "producing" for you, we will want to stop doing it.  We want to be very careful when listening to "popular" business advice.  Remember the odds are that four out of every five businesses fail.  My philosophy is that these four people are talking to each other, perpetuating the "truth" behind the popular business myths that the successful business owner knows to be absolutely FALSE.   The bottom line is that there is no virtue in persevering for the sake of perseverance sake.  In business, our results should determine our actions. 

The WHAT  (60 minutes)

For the next hour, we will create a word picture of exactly where we want to go in our businesses.  We will create exact "targets" of success.  Although we will not be PLANNING the accomplishing of these goals just yet, there is value in spending time to get crystal clear on the goals we are setting (or recommitting to) for 2009.  I know it is "cliché" but it is most difficult to hit a target you can't see.  So, let's paint our targets for the next six months, shall we?

Of course, there are thousands of people reading this "how to" article, and many businesses and industries and goals are represented.  However, all entrepreneurial endeavors are surprisingly similar in what it takes to succeed. As you plan for business success you will need to create targets for (at least) the following questions:

• How much money do you want to make this year?
• How much will you have to "sell" each month to make this a reality?
• How many new prospects will you have to come in contact with to make this happen?

The HOW (30 minutes)

So, now it is time to look at HOW we will hit the targets we just defined.  I would like to share a fundamental truth with you that my own coach and mentor (Steve Chandler) shared with me.  Many times we spend a great deal of time chasing the "HOW" in business.  We think that this is the key to our success, which is absolutely untrue.  In fact, I have recently made a concerted effort NOT to ask "how should I" questions anymore because they are irrelevant.  So many times, someone will approach me about my success or the success of one of my clients and want me to share the "HOW" with them.  I would not do this, because it would be a disservice.   Don't hear what I am NOT saying.  There is immense value in finding someone achieving success in your field or industry and studying HOW they reached that level of success.  But "studying" is different than trying to "replicate". 

The UGLY (30 minutes) 

Now comes the UGLY part of this process, at least for me.   As a "classic entrepreneur", details, processes and specifics drain my energy and have the potential of overwhelming me.  However, I have realized that my success, my wealth, and my business absolutely depend upon these very things!  So, it may be ugly, but creating SYSTEMS for our business it is a necessary evil and one that I think you will grow to appreciate once you see the fruits of your labor in this area.

As we take a look at how we are currently doing business and have a snapshot of HOW we are going to reach our goals for the year, we are apt to find some things that we do over and over, tasks we can streamline, make simpler, delegate, or even automate.  No doubt, time is as precious of a commodity for you as it is for me.  So, it makes sense that if we create systems allowing us to routinely accomplish MORE with more predictable results, the more profitable and rewarding our businesses will be. 

There is a second benefit to taking the time to look at (and plan for) the UGLY:  Even if you don't actually create systems for your business, by simply completing this exercise, you will be acknowledging and planning for the completion of the administrative priorities of our business.  Oftentimes, these tasks are never "planned for", even though they have the potential of eating up a lot of our time.  Planning for these things in advance, makes it easier to create and maintain momentum in the rest of your business because we are not interrupting our other business activities with administrative tasks and "emergencies". 

As you look at the "details", the administrative tasks, the routine and repetitive tasks, the "necessary evils" of small business, consider the following:

• Would it benefit you to add a "virtual" assistant to your team?  (My vote is unequivocally YES!)
• What "client attraction" activities do you do every week? 
• Is there a way to streamline or automate your marketing?
• Do you have systems for moving prospects through the sales process?
• Are all routine tasks systemized?  If not, which task can you start with creating a system around?

simple system.  So I did. I created a document with ALL of my passwords, usernames and (in some cases) the code for frequently used tasks to keep all of this information easily accessible.  I then created a very simple step-by-step document on how to do each weekly routine task.  Next, I cut and pasted my "joint venture" paragraphs and but those in a document so I could easily copy them, personalize them and send.   I put all of this into a small manual, so that I can quickly train others to help me.  Now, every time I do something, I create a quick "one-page" about how I do it, and include this in my training and systems manual.  Not only does this help me train others, but it also prevents losing time to those infrequent but routine tasks that you seem to "re-learn" each time you do them.  Systems in your business are UGLY (but only at the beginning) and beautiful (to experience) at the same time.   They will help you create more time and more money.  A great resource for how to create systems in your business is The Four Hour Work Week by Timothy Ferris. 

The WHEN (30 minutes) 

I know we have spent a lot of time planning without actually writing anything down in our "planners".   This is where we can put our thoughts into an action plan for success.  So, go back to your 2008 planner because we will now plan when (exactly when) we will carry out our plans.  Look at the "HOW" section of this exercise.   Now, we will have to schedule in those activities.  For me, I needed to schedule WHEN I will write my "content" for my ezine, blog, and, articles to submit, and other online promotion material. (This occurs each morning with the exception of Tuesday and Wednesday morning.) I also needed to "book" time to interview, hire and train an assistant to handle my social networking.   You will also want to write in the activities that you have committed to (making sure they are produce profitable results) and take off any items already on your calendar that have proven to be futile when you honestly assessed them in the first part of this exercise.  In short, you will be updating your planner, to make sure that you have blocked off the time you need to succeed. 

The SUCCESS KILLERS (30 minutes)

Wait a minute!  As a coach, aren't I supposed to end on a positive note?   Aren't I supposed to leave you with a "hip hip hoorah" cheer to motivate you to ACT?  Actually, I can't truly motivate you to do ANYTHING.  Motivation is an "inside job", but that whole subject is for another time.  NO, I am not going to end on an emotional "positive note".  Instead, we are going to wrap up in a way that is most capable of helping you produce RESULTS!  

Now that you have written them down, we need to plan a (reasonable) way around each of these.   Perhaps you listed something that is "out of your control".  Okay.  Which PART of that IS within your control? Identifying your success killers before hand, and planning a way to move around that obstacle ahead of time is the prescription you need for success.  Go ahead and assume that you do NOT reach your goals for 2008.  What reasons do you give as "why NOT?" 

NOW, for my cheer: 

"Determine that the things can and shall be done,

And then we shall find the way."

-          Abraham Lincoln

"There are no rules here... We are trying to accomplish something."

-          Thomas Edison

"Just do it."

-          Nike