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Original Message Added : 9 Sep 2008
 
Like every other business owner, I find that I have very little time at the end of the day to think about where my company should be going long term. I have a vague business plan that I wrote at the time of start up 6 months ago and already the course has been altered for one reason or another.

How am I supposed to visualise where I want to be in 5 years time if I am worrying about getting my work done and securing new work for the foreseeable? I am a web designer currently working from home, I have one client whose project will be finished in a couple of months. They have given me an introduction that may turn into further work.

 Anonymous
Reply : 15 Sep 2008
 
Let me play devil’s advocate for a moment. Suppose you decide you want a holiday. You have no idea where you want to go – could be Frinton on Sea or the Caribbean. Even so, you get into your car and start driving. How likely are you to have the holiday you need, the holiday you want, when you want it? Of course, chance will mean that you’ll meet all sorts of eventualities as you’re driving along: a traffic jam here, an interesting person who ‘knows just the place to stay’ there. But it is hardly an effective or efficient way of organising the holiday.

So, how come you don’t know where you want your company to go?

As a web developer, you’re in an expanding market. If you’re any good, you should be able to bank on getting a reasonable supply of work. Let me be clear, there’s nothing wrong in living a hand to mouth existence. It’s just that it isn’t the most useful (or happy) way of living.

Crucially, you phrase your question in terms of where your company should be going in the long term. There is a subtle, but profound, difference between you and your business; and thinking about the company as an entity in its own right is a very helpful way of avoiding mixing up what you want with what the company needs.

So, to get to the answer, I suggest you put a 60 minute ‘meeting with yourself’ in the diary in which you answer as many questions about the business five years hence as you can think of. Perhaps get a friend to help. Questions are likely to include
‘how many staff does my business have in 2013?’,
‘what sort of clients does it have (by market sector, size, etc)’,
‘what client needs do my services meet?’,
‘what type of jobs is my business doing?’,
‘does my business have any joint ventures with other businesses?’,
‘what is its main sources of new business?’, and so on.

Still thinking about 2013, go on to
‘what is the purpose of my business?’,
‘what perception do my clients have of the business?’,
‘what is the business’s market position (cheap and cheerful or exclusive and expensive)?’, and so on.

Write all these questions down, think of some more (imagine you’re interviewing yourself on tv – what would the interviewer ask?), and then answer them. Now you can plan how you’re going to get there.

Incidentally, worrying about getting the work done and getting new work will diminish your effectiveness and efficiency. Which will make you more worried, which will degrade your performance further, which will… You get the picture. The main reason for having objectives and a plan of how to reach them is so that you don’t have to worry. It’s about being the master of your own destiny. If you could have that, wouldn’t you take it?

Useful? (1)
Jeremy MarchantJeremy Marchant from
Emotional Intelligence At Work
Location :Bristol
Joined : 28 May 2008
About :Business Development Expert
Contact :Send Private Message
Posts :212  ( 91)
Reply : 19 Sep 2008
 
My two points to add, based on my experience, would be:

1) Take a day out. Go somewhere different for a day specifically to think about the longer term picture and perhaps run through Jeremy's suggestions. Get away from the daily grind and do something to inspire yourself.

2) Try imagining and visualising the personal things you'd love to have. More spare cash? New house? certain type and model of car? Make your business objectives personal by linking where you want the business to go with what you want to get out of it personally.

3) When you do get around to making some sort of plan, make two. Make one that identifies the realistic stuff that you'd be very happy to achieve and one that has those things plus all the aspirational targets you set yourself. With a bit of luck you'll end up somewhere between the two, which is a great place to be!

Barnaby LashbrookeBarnaby Lashbrooke
Location :Birmingham
Joined : 03 December 2007
About :Business Development Expert
Posts :7  ( 4)
Reply : 24 Sep 2008
 
It's all very well trying to visualise where you want to be in 5 years time, but that vision needs to be realistic in terms of your capability to achieve it. I have many discussions with small business owners on the subject of where they would like their businesses to be in the future. All too often their vision isn't supported by a realistic route plan on how they intend to get there. Common indicators of an unrealistic pipe-dream are:
  • No strategy... or how that vision will be achieved
  • No milestones (small incremental steps)on what needs to be achieved and when in order to make that vision happen
  • The owner manager is working too much in the business and not enough on the business
  • The lack of realisation that business growth often means cash out of the business in the short to medium term


To create a vision and the plans that support the delivery of that vision, requires significant effort that may not be translated into cash in the short to medium term. A process that I follow when working with businesses on their vision and how they will achieve that vision is as follows:
  1. Objectively evaluate ‘Where the business is now’… ‘How good is the business?’, ‘What’s the state of play?’
  2. Agree what the capability of the business is to develop / grow
  3. Agree market opportunities and threats
  4. Agree on what you want from the business
  5. Decide on the key business objectives that will deliver point 4 above
  6. Decide on the strategies and plans for attaining the business objectives
  7. Develop the action plans that will facilitate successful implementation


Be bold and follow through on what you agree to do!

Mark AceMark Ace from
MC Associates
Location :Bristol
Joined : 25 August 2006
About :Sales, Marketing and Business Strategy Expert
Contact :Send Private Message
Posts :24  ( 14)
Reply : 24 Sep 2008
 
Absolutely support what Mark, Barnaby and Jeremy are saying and then there is also the aspect of making sure that you have the team around you that is motivated to realising the "road map" that you have worked out together.

So why not consult your team about where they believe the company should be and then integrating this in your plans? If you are not quite sure yourself there are examples out there that you may find some inspiration from (i.e. people that have achieved what you admire most) - there is great value in finding out the strategies those people applied to leading their organisations. This option may well take a little bit longer to crystallise your vision - it may well also be a more rewarding one! And it would make a great team building away weekend/day too - going back to Barnaby's thoughts!

Understanding what makes your key people "tick", what is important to them as people and how this is aligned with what is important to what you actually want to achieve as a company will enable you to speak the same language in terms of tackling the stages with a common view, ambition and motivation. As a result you tend to get great accountability, job satisfaction, great PR that doesn't cost you anything (i.e. your staff speaking from their hearts about how they love working for your company and the great things you do there) and most of all great performance.

Of course there is still the aspect of making sure the roles fit the jobs and the people the roles..... giving people clear parameters within which they can and should operate - which then enhances productivity even further.

That's when creating a vision and putting it into reality becomes fun and success!

Margit Jones-HochstrasserMargit Jones-Hochstrasser from
Resolution4Life
Location :Bristol
Joined : 10 June 2008
About :Business planning and strategy coach
Contact :Send Private Message
Posts :51  ( 20)
Reply : 24 Sep 2008
 
There is some really good thinking in the previous questions. I would only add the following:

I sense that part of your problem lies in getting mixed up between what you would like to do and what you think is possible.

In order for you to make progress I suggest that you temporarily forget all about what is possible and focus on what you want. Also forget about five years and allow any period of time which makes sense.

Play with this idea and see what comes out. Ask yourself why you started what were your dreams and how these have changed.

Once you have freed yourself up to identify what you want you will find it easier to work out how you can move towards it.

Tony McKennaTony McKenna
Location :Cheddar
Joined : 14 September 2008
About :Business Development Expert
Posts :20  ( 10)
Reply : 30 Sep 2008
 
Before visualising where you see yourself in 5 years time, you might want to analyse the journey you've beem on to get to where you are now, thus allowing you to review accomplishments, disappointments, and what you've learned on your journey so far, as you prepare for the future.

You might find this webinar useful at http://www.theresultsacademy.com/journey.htm

Or, another excellent powerful exercise is this one -

http://www.theresultsacademy.com/BEDOHAVE.pdf

You can also get members of your team to complete both in relation to their current work circumstances.

;)

Hope that helps.



Fraser

Fraser J. HayFraser J. Hay from
The Results Academy
Location :Buckie
Joined : 10 September 2008
About :Marketing Expert
Contact :Send Private Message
Posts :111  ( 63)
Reply : 21 Jun 2012
 
The best way to go about is to work out a SWOT Analysis,

Focusing Strengths, and Weakness of internal Environment and Opportunities and Threats posed by External Environment.

Once you've drawn out 4 to 5 points for each factor, you have to try and see what can you do to get maximum benefit from your Strengths, best use of your opportunities, and weeding out your weaknesses and hedging against your threats.

Once you're done with your exercise, you will know where you want to be in next 5 years.


You can keep focus on the same and keep checking on it from time to time.

Sam Iyer from
Paperchase Business Services Ltd
Location :London
Joined : 20 June 2012
Contact :Send Private Message
Posts :9  ( 1)
 
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