Tag Archives | Business Planning

Business by design: How did yours perform in 2018?

Do you have a business that brought you everything you wanted this year – what we call a business by design?

In terms of how much money it makes you, how much happiness it gives you, and how much time it allows you to do what you want when you want, how has your business performed this year?

December is a good time to reflect on how your business has served you, and decide what you want it to provide for you in the next 12 months.

You may have started your business with definite goals in mind. Despite this, your business may have evolved to this point by default, rather than by design! It’s time to define and focus on your goals, and from this point on create the business you want.

business by design

Where are you now?

As with any journey, you must start where you are. List the following areas of your business and give each a score between 0 (couldn’t be worse) and 10 (couldn’t be better):

  • Money (financial management and profit)
  • People & Culture
  • Systems
  • Marketing
  • Customer Service
  • Sales
  • Operations & Efficiency
  • Overall vision and direction

If each area of your business isn’t exactly as you want it to be, it may be because you’ve lost focus and direction.

Map out a destination

The first step is to decide where you want to be at this time next year. In December 2019, what do you want to be reflecting back on and congratulating yourself for achieving? Reflecting from the future, what profit did you make in 2019? How much time did you have outside the business for yourself, family, friends, vacations and other interests? How much happiness did you get from your business? When you start with the end in mind, it’s easier to map out the way there. If you need inspiration on what you want to achieve, start with why.

Plan your journey

Make a list of all the things you could do to get the results you want. Don’t edit at this stage – just brainstorm. If you want more time for instance, you may need to recruit additional staff, train existing staff, delegate more, and put better systems in place.

If you’d like more profit at the end of next year, you could review expenses, negotiate better deals with suppliers, sell off old stock, and review your pricing.

If team issues have affected you this year, in 2019 you might want to introduce a culture statement, implement performance KPIs, and learn new management skills such as giving feedback and coaching your employees for improved performance.

Plot your milestones

Once you’ve made your list, prioritise your actions and set a date to achieve them. Spread your goals throughout the year, taking into consideration peak times for your business (you don’t want to introduce new technology or systems in the busiest sales month of your year!).

Diarise your actions

Now you know what you want to do and when, put these actions into your calendar or diary. Review it daily to keep on track.

What help do you need?

To achieve a business by design in 2019, you might need new resources. This could include new skills, advice, knowledge and tools. You may also need new ways of thinking about your business, a sounding board, encouragement and support. Accountability will be invaluable to keep you on track and to task.

Assess what resources you already have and how you’ll utilise them. If you need assistance, make a time to find it. Books, podcasts, audios, fellow business leaders, seminars, coaches and mentors are all valuable tools to consider.

Create your business by design for 2019

Yellow Coaching provides consulting, coaching and mentoring to take your business or organisation to the next level. Our coaching is ideal for established businesses that have reached a certain level of growth and success, and are ready for more.

Business mastery and growth may involve improving your business systems, financial controls, people leadership and management, marketing, sales, time and priority management, and thought processes.

Yellow Coaching’s difference is that we work with you and your team to achieve faster results.

We work with business owners who are committed (not merely interested) in achieving more from their business and their life. If you’re committed to having the business you want in 2019, start here.

 

How to make 2018 your best year yet!

Whether you’re a manager, business owner, or employee, one thing we’re sure of: You want 2018 to be a great year!

Your wish-list might include work-life balance, a profitable business, a happy and productive team, and achievement of your personal goals.

So how do you ensure you get what you want in 2018, and what happens is by design and not default?

This week with clients we are creating 2018 business plans. If you’d like to ensure your year is everything you want it to be, in both your business and personal life, read on and follow our 4 simple steps below …

2018 business plan, business plans1. Review 2017’s Highlights

Before making a 2018 business plan, it’s essential to see where you are now and how far you’ve come.

Start by thinking back to January this year. How different was life and business then? What have you accomplished in the last 12 months? How has your business grown and changed? What’s happened in your career? What personal goals did you achieve?

Write down your achievements in all areas of your life and work – business growth and mastery, career, learning, family, fun, health and wellbeing.

Take a moment to appreciate how your life has changed and what you’ve done to create that. Congratulate yourself on your achievements so far.

2. Picture Your Future In Review

Now imagine yourself this time next year, December 2018, doing the same exercise. If you were looking back on 2018, what would your achievements be?

Take at least 10 minutes to really think this through. List all you’ve gained in terms of business turnover and profit, the types of clients you’ve attracted, career moves, office relocation or upgrades, success you’ve helped your clients to achieve, fitness or family wins, what you’ve learned… any result you’d like to see by the end of the year.

business planning, 2018 business plan, business success, business goals

3. Create Your 2018 Business Plan

Bring your mind back to the present day. The list you’ve just made is now your goal list for 2018. Make sure each goal passes the test of being measurable, realistic, and time-framed. Get specific. Instead of grow business you might write increase turnover by 30% and profit by 15% by 31 December 2018.

Put a date next to each goal. If you can’t be specific, narrow it down to be something you’ll accomplish by end of Q1, Q2, Q3 or Q4.

And make sure what you want to achieve is within your sphere of influence or control. There’s no point stating what you want someone else to do if you have no power over their actions! Instead of Get supervisors to perform to standard you could write Learn skills to more effectively manage supervisors and enforce their KPIs by 31 March. You can choose to be a better manager and hold them accountable, but their response and actions will ultimately be up to them.

4. Get A Coach To Help You And Your Team

As our clients know, setting goals and having a 2018 Business Plan is just the start. Finding someone to support you, guide you, and keep you accountable will ensure your success. A great business coach will work with the business owners, managers and team to ensure the business reaches its goals. A great business coach will also support you to achieve your personal and lifestyle goals.

Are you a business owner? Do you need a 2018 business plan?  Book your complimentary discussion with our business coaches today.

If you’re a business manager or employee, suggest Yellow Coaching’s services to the decision makers in your business. We’ll arrange a complimentary meeting with them to discuss the needs of the business and team.

Business improvement helps owners, employees, their families, and the community. When shown what’s possible and given the right tools, strategies and support, businesses and the people in them can achieve their full potential.

Yellow’s coaches work with the owners, managers and teams of established businesses of any size within the private sector; and with executives, managers and team members at all levels within Government and not-for-profit organisations.

Whomever they are working with, their goal is to assist business leaders to maximise the potential of themselves, their team, and their business. Yellow’s coaches achieve this through business coaching, executive mentoring, leadership and management training, strategic planning, conference and workshop facilitation, keynote speaking, and team member coaching. They also provide team training on numerous topics including effective sales techniques, business marketing, outstanding customer service, time and priority management, improving team culture and morale, efficient systems and processes, resilience, and change management.

If you’d like to reach peak performance in 2018, contact Yellow Coaching today.