In our conversations with other business professionals around the Twin Cities, we keep hearing that sales are perking up and businesses are beginning to move forward again. The long, persistent business lag we have all endured has created a pent-up demand for goods and services. Are you prepared to capture the sales that will inevitably return as the economy improves? Are you sitting at the crest of the new wave of business opportunity that is coming? Will you ride it all the way through the recovery and beyond?
Capitalizing on growth potential requires a thoughtfully constructed plan. I find it interesting how often business owners and CEO’s tell me they don’t have time to even THINK about strategic direction. It brings to mind the old cliché: “Are you running the business or managing the business?” When executives are so involved with the details of running the business that they can’t find the time to plan strategically, they often lose out on opportunities to take their business to the next level.
It is important to take the time to step back and understand where you are coming from and where you want to go. Yes – it takes time. But if the right process and tools are used, your investment of time will cultivate this fertile marketplace and make your business blossom. The importance of understanding your strategic direction and defining the correct execution process cannot be understated. If you fail to take the time for strategic development, you may be walking away from your chance to cash in on the long-awaited wave of business growth which appears to have already started.