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How to Make a Plan That Will Help Your Business Thrive

How to Make a Plan That Will Help Your Business Thrive

What is the difference between a successful company and an unsuccessful company? Why do some entrepreneurs succeed where others have failed miserably?

What makes someone successful?

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    Everyone is looking for the answers to these questions; everyone wants to find the keys to succeed, the shortcut that will make it all easier.

    The problem is in that word, shortcut.
    The real key, the real secret is that there is no shortcut.
    You need to work hard, endure long hours, and maintain focus if you want success.

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    You can succeed

    Many studies have been made to why some entrepreneurs succeed while others don’t.
    In many cases, it all comes down to planning.

    There’s an old saying: every minute spent on planning saves up to 10 minutes in execution. Even though we know this, very few people spend enough time planning.

    Spending time before you start your business making plans is tiresome to many. You are essentially working without getting paid, in the short run. But when you plan you create a roadmap; you build yourself a guide that will help you on your entire journey towards success.

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    Successful entrepreneurs plan and then do something completely different

    The hard part about planning is getting it right. When you plan you try to foresee circumstances in the future, to predict how things will play out and make plans for how you will react and what you will need, you can’t always get a 100% success rate. Since no one knows what the future brings, most plans become obsolete as soon as the entrepreneur starts his business.

    All successful entrepreneurs started off with a set of plans, but many ended up doing something completely different. (But they all had a plan).

    Unsuccessful entrepreneurs fail because of lack of planning

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    Because studies show that many original business plans become obsolete soon after the business gets off the ground, some entrepreneurs decide to skip the whole planning process. But without an exact idea of what they are going to do, what they need, what opportunities to look for and without a frame of reference to evaluate situations by, they fail.

    Successful entrepreneurs have a plan to update

    When you have a plan, you can modify it, you can evaluate things happening around you and compare them to your plans. You will be able to see if this opportunity is in line with your goals, values and dreams. If it isn’t, you know it is a bad idea to follow. Thanks to this whole planning process, you will have a long term mindset, you will constantly be thinking about what the things you are doing today will have for affects on your future.

    This mindset is a precious commodity and one of the most important parts of being an entrepreneur. Remember, all successful entrepreneurs have made business plans, even if they didn’t always do exactly what they expected.

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    Action Exercises

    1. Create a business plan
    Ask yourself the following questions – What do you plan on doing? Who is it you are selling to? What do you need to be successful at it? How much do you need to sell to brake even? What costs will you have? How many employees do you need? What kind of office space will you require? What can you delegate? What do you need to do yourself?

    2. Create a vision
    Try to crystallize the values you want your company to stand for in simple terms. Make sure everyone who joins the company learns about what the company stands for, and prove it to them by living by those values.
    Let the employees be a part of the creative process, come back to it once in a while, look it over, and let them give you their input.

    3. Never be afraid to update your plan
    You will need to update your plan many times, you might even change to a new industry after some time has passed. Don’t be afraid of this, but make sure that the change is in line with your goals and your vision. If the path you are on won’t lead you to your goals, change that path now to one that is more suitable.

    More by this author

    Daniel M. Wood

    Daniel is the founder of Looking To Business.com. He writes about Motivation, Success and Time Management.

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    Last Updated on December 3, 2019

    7 Powerful Steps to Achieve Career Success

    7 Powerful Steps to Achieve Career Success

    I often hear people say, “I want to be successful but don’t know where to start” or “I’ve achieved career success yet I’m not happy.” And then I ask, “what does career success mean to you?” And many have a hard time articulating their response with much conviction.

    It’s common that people lack clarity, focus, and direction. And when you layer on thoughts and actions that are misaligned with your values, this only adds to your misdirected quest to achieve your career success.

    A word of caution. It’s going to take some time for you to think about and work on your own path for career success. You need to set aside time and be intentional about the steps you take to achieve career success. In my opinion, this step-by-step guide is apart of your life philosophy.

    1. Define Career Success for Yourself

    Pause. Give yourself time and space for self-reflection.

    What does career success mean to you?

    This is about defining your career success:

    • Not what you think you ‘should’ do
    • Not what people may think of you
    • Not adjusting to friends and family’s judgements
    • Not taking actions based on societal or community norms

    “A flower does not think of competing to the flower next to it. It just blooms” – Zen Shin

    When you strip away all your external influences and manage your inner critic, what are you left with? You need to define career success that best suits your life situation.

    There’s no fixed answer. Everyone is different. Your answer will evolve and be impacted by life events. Here are a few examples of career success:

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    • Work-life balance
    • Opportunities for growth and advancement
    • Feeling valued that my contributions had an impact

    Now even as you reflect on the examples above, the descriptions are not specific enough. You’ve got to take it deeper:

    • What do you mean by work-life balance?
    • What do you consider to be opportunities for growth and advancement?
    • How do you like to be recognized for your work? How do you know if your contributions have had an impact?

    Let’s take a look at some potential responses to the questions above:

    • I want more time with my family, and less stress at work
    • I want increased responsibilities, to manage a team, a higher income, and the prestige of working at a certain level in the company
    • I’d like my immediate leader to send me a thank-you note or take me out for coffee to genuinely express her or his gratitude. I’ll know I’ve made an impact if I get feedback from my coworkers, leaders and other stakeholders.

    Further questions to reflect on to help narrow the focus for the above responses:

    • What are some opportunities that can help you get traction on getting more time with your family? And decrease your stress at work?
    • What’s most important for you in the next 12 months?
    • What’s the significance of receiving others’ feedback?

    Now, I’m only scratching the surface with these examples. It takes time to do the inner work and build a solid foundation.

    Start this exercise by first asking what career success means to you and then ask yourself meaningful questions to help you dig deeper.

    What types of themes emerge from your responses? What keywords or phrases keep coming up for you?

    2. Know Your Values

    Values are the principles and beliefs that guide your decisions, behaviors and actions. When you’re not aligned with your values and act in a way that conflicts with your beliefs, it’ll feel like life is a struggle.

    There are simple value exercises that can help you quickly determine your core values. This one designed by Carnegie Mellon University can help you discover your top 5 values.[1]

    Once you have your top 5 values keep them visible. Your brain needs reminders that these are your top values. Here are some ways to make them stick:

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    • Write them on cue cards or notes and post it in your office
    • Take a picture of your values and use it as a screensaver on your phone
    • Put the words on your fridge
    • Add the words on your vision board

    Where will your value words be placed in your physical environment so that you have a constant reminder of them?

    3. Define Your Short-Term and Long-Term Goals

    When writing your short-term and long term life goals, use the SMART framework – Specific Measurable, Attainable, Relevant, and Time-bound. Treat this as a brainstorming exercise. Your potential and possibilities are limitless.

    How you define short-term and long-term is entirely up to you. Short-term can be 30 days, 90 days, or 6 months. Maybe long-term goals are 4 months, 1 year, or 10 years.

    Here are a few self-reflection questions to help you write your goals:[2]

    • What would you want to do today if you had the power to make it the way you want?
    • If no hurdles are in the way, what would you like to achieve?
    • If you have the freedom to do whatever you want, what would it be?
    • What type of impact do you want to have on people?
    • Who are the people you most admire? What is it about them or what they have that you’d want for your life or career?
    • What activities energize you? What’s one activity you most love?

    Remember to revisit your core values as you refine yours goals:

    • Are your goals in or out of alignment with your core values?
    • What adjustments do you need to make to your goals? Maybe some of your goals can be deleted because they no longer align with your values.
    • How attainable are your goals? Breakdown your goals into digestible pieces.
    • Do your short-term goals move you towards attaining your long-term goals?

    Get very clear and specific about your goals. Think about an archer – a person who shoots with a bow and arrows at a target. This person is laser focused on the target – the center of the bullseye. The target is your goal.

    By focusing on one goal at a time and having that goal visible, you can behave and act in ways that will move you closer to your goal.

    4. Determine Your Top Talents

    What did you love doing as a kid? What made these moments fun? What did you have a knack for? What did you most cherish about these times? What are the common themes?

    What work feels effortless? What work do you do that doesn’t seem like work? Think about work you can lose track of time doing and you don’t even feel tired of it.[3]

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    What are your desires? Try it out. Experiment. Take action and start. How can you incorporate more of this type of work into your daily life?

    What themes emerge from your responses? How do your responses compare to your responses from the values exercise and your goals?

    What do you notice?

    5. Identify ‘Feeling’ Words You Want to Experience

    Do you have tendencies to use your head or heart to make decisions?

    I have a very strong tendency to make rational, practical, and fact-based decisions using my head. It’s very rare for me to make decisions using my emotions. I was forced to learn how to make more intuitive decisions by listening to my gut when I was struggling with pivotal life decisions. I was forced to feel and listen to my inner voice to make decisions that feel most natural to me. This was very unfamiliar to me, however, it expanded my identity.

    Review this list of Feeling Words. Use the same technique you use for the values exercise to narrow down how you want to feel.

    Keep these words visible too!

    Review your responses. What do you observe? What insights do you gain from these responses and those in the above steps?

    6. Be Willing to Sit with Discomfort

    Make career decisions aligned with your values, goals, talents and feelings. This is not for the faint hearted. It takes real work, courage and willingness to cut out the noise around you. You’ll need to sit with discomfort for a bit until you build up your muscle to hit the targets you want.

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    Surround yourself with a supportive network to help you through these times.

    “These pains you feel are messengers. Listen to them” – Rumi

    7. Manage Your Own Career

    Not to be cynical, but no one can make you happy but yourself. If you don’t take control of your career and manage it like your own business – no one will.

    Discern between things that you can control and what you can’t control. For example, you may not be able to control who gets a promotion. However, you can control how you react to it and what you’ve learned about yourself in that situation.

    Summing Up

    For many who have gone through a career change or been impacted by life events, these steps may seem very basic. However, it’s sometimes the basics that we forget to do. The simple things and moments can edge us closer to our larger vision for ourselves.

    Staying present and appreciating what you have today can sometimes help you achieve your long-term goals. For example, if you’re always talking about not having enough time and wanting work-life balance, think about what was good in your work day? Maybe you took a walk outside with your co-workers. This could be a small step to help you reframe how you can attain work-life balance.

    Remember to take time for yourself. Hit pause, notice, observe and reflect to achieve career success by getting deliberate and intentional:

    1. Define Career Success for Yourself
    2. Know Your Values
    3. Define Your Short-Term and Long-Term Life and Goals
    4. Determine Your Top Talents
    5. Identify ‘Feeling’ Words You Want to Experience
    6. Be Willing to sit with Discomfort
    7. Manage Your Own Career

    “When you stop chasing the wrong things you give the right things a chance to catch you.” – Lolly Daskal

    Good luck and best wishes always!

    More Tips on Advancing Your Career

    Featured photo credit: rawpixel via unsplash.com

    Reference

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