How Well are You Putting the Puzzle Together?
Learn the Seven Specific Areas that are Essential to Business Success
The seven specific areas that you need to consider when systematizing your business are:
- Primary Aim
- Strategic Objectives
- Organizational Strategy
- Management Strategy
- People Strategy
- Marketing Strategy
- Systems Strategy
Employing these in your business will begin the process of fine turning your plan to reach your ultimate level of success. While all of these are important, today we are going to cover just the first three.
As an entrepreneur or business owner, you are tasked with many responsibilities. None more important that setting the Primary Aim of your business. To successfully develop your business, you will need to establish goals and to see a vision for the future. But your vision needs to be broad-based and go beyond the business itself. You’ll need to think about what you want out of life, what makes you happy, what are your dreams and how you see your success unfolding.
Why is this important?
Knowing and understanding these things will provide momentum during start-up and stamina to persevere when things get tough. You’ll even want to memorialize your vision in writing so that it can be a constant reminder for you and your team as well as to keep you focused on what’s most important. This “Vision Statement” should be directed toward your team members and other stakeholders of the organization and create a sense of possibility using anticipatory language and images of the preferred future.
A Strategic Objective is a measurable concrete step you need to take to achieve a specific strategy in pursuit of a broader goal. Having these are essential for you to take your business from surviving to thriving. These objectives should provide a solution to help you achieve your primary aim.
While there are many areas to set strategic objectives some of the more common include money and worthy opportunities.
- Setting monetary goals is a great way to determine how well you are doing at any point. Monetary goals are usually easy to measure and easy to uncover areas for improvement should the need arise to reach the goal.
- When considering other business opportunities or even strategic partnerships, the key is to assess how they bring you closer to your primary aim. Those that do are the best to seriously consider.
When setting objectives and goals, the key is not to limit your potential or overly stress yourself out. What is needed, are quantifiable objectives that you can use to measure your progress toward your primary aim. While the above are commonly used, it’s important to your success that no matter what strategic objectives you have set out to achieve; you pay attention to the details and the actions needed to accomplish them.
A business can be structured in many different ways depending on its objectives. The strength of its organizational structure can be the difference between just surviving and thriving. So, it’s important from the outset to take some time to think about and put together a solid structure for your business. The structure should take into consideration not only where the business is now but also where it intends to be in the future. Sustainable competitive advantage requires organizations to be efficient, adaptable, innovative and considerate.
Generally, a business is organized around the roles and responsibilities that must be executed on a daily basis and the available talent needed to fulfill those roles. But no matter what roles and responsibilities you’ve defined for your employees, their focus should be on fulfilling your company’s primary aim. Once you’ve identified the primary aim for your company it will be easy to set up a organizational structure that will work.
It is also essential that each employee clearly understands their roles and responsibilities. This can be accomplished through position contracts or detailed job descriptions that are acknowledged by the employee with a signed statement. This will keep things clear for you, the employee and others.
It is easy to see how these areas all work together to build the solid foundation on which to build your business. If you need help in any of these areas, you can check out the resources and tools on our site or discuss with a certified professional coach during your FREE test drive.
Kinetic Business Strategies helps overworked business owners systematically transform their business so they can more effectively grow revenue, improve cash flow & profits, increase the business’s value and achieve a better work / life balance.