Success is more than economic gains, titles, and degrees. Planning for success is about mapping out all the aspects of your business. When you use a map, you have to define where you are starting, your destination, vehicle you have chosen or business model, your landmarks and route you will take to success.
Your Starting Point:
A map has a starting point. Your business starting point is what product or services you are offering. Most people when asked to give the 30 second ‘elevator speech” may say some things, however the listener does not know any about what you actually offer. Record your 30 second elevator speech and see how you sound and what you say.
Destination: A vision of what you want your business to be.
You need to know what revenues you want to have, employee numbers, location numbers and anything else that is important to your business. Your destination should cover all the aspects of your business.
Vehicle: Your Business Model
A vehicle is the means by which you can reach your destination. You have to know how money is coming into your business. Here is a big hint: Word of Mouth is not it.
Landmarks and Route can be S.M.A.R.T. Goals
Landmarks confirm if you are on the right track while the route determines the travel time. Thus, in planning out your business, you also need to have landmarks and a route. These landmarks are your measures of success. These measures must be specific, measurable, attainable, realistic, and time bound. They have to make sense. For example, you cannot set two major landmarks such as earning a master’s degree and a doctorate degree within a period of three years, since the minimum number of years to complete a master’s degree is two years.
Anticipate Turns, Detours, and Potholes
The purpose of your business map is to minimize hasty and spur-of-the-moment decisions that can make you lose your way. But oftentimes our plans are modified along the way due to some inconveniences, delays, and other situations beyond our control. Like in any path, there are turns, detours, and potholes thus; we must anticipate them and adjust accordingly.
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