A couple of years ago, I developed an idea to wish my friends and business associates a HAPPY APRIL FOOL’S DAY! Many thought I was crazy as no one sends out April Fool’s cards—I did. No, I was not crazy. The message inside of the card was very simplistic. First, I wanted to wish every recipient a happy day. Secondly, April first is an important day in the calendar of one’s business. For most, April first is the first day of your second quarter, and it is also fourteen days before you have to file your tax returns.
To be sure, 90 days of the year are over. For those who prepare a strategic business plan, it is the time to look at your results. It is the time to take stock as to how each entity, department, and division performed when compared to the plan you prepared. Now is the time to check performances to see, not only if your volume and profit were on track, but also if your staff performed in the manner you had hoped and planned for.
If either fell short, what are you going to do about it? Maybe nothing. Maybe you pull out the plan and compare. Maybe the results are so good or so bad that it is time to re-assess the whole plan. Or, just maybe, you do not yet have a plan. Whatever the situation, it is not too late to develop your plan.
Maybe you’re wondering, “I thought once the plan was completed in December, there was no reason to review it again.” If this reasoning was applied to other arenas of life, one might wonder, “Why do people, year after year, read the bible?” It contains the same material, yet many review it throughout the year, continually finding nuggets which give their life more meaning and direction. For many, the bible is a dynamic tool used in mastering their life.
I am not telling you that your business plan is on the same par as the bible. In business, however, the business plan is the “bible” in this respect: the plan is a dynamic process and tool in managing your business.
The first phase of the dynamic process is to develop the plan; the second, which is equally or more important, is to execute the plan and make it happen. April first – a key day in the planning and execution of business – is upon us. Now is the time to make sure you and your staff are executing the plan.
Those who view the bible as a guide for their life find value in reading it and living by its teachings. Similarly, the person who views the strategic business plan as a guide for their business will find value in reading it often and faithfully executing its principles. Their business values and actions will be driven by the plan. The repetition of review will be rewarded with nuggets of insight and inspiration.
Is your strategic plan being utilized as a dynamic process and tool for your business? Need help in development, interpretation, or execution of your plan? Contact Elanstrategic at yale@elanstrategic.com or 952-960-6688.