Strategy is the one element of being a business owner that, believe it or not, most business owners don’t possess. Being a strategic business owner will ensure your success for the future.
Are You a Strategic or Tactical Business Owner?
This article is written and owned by: Andrew Clifford
I am on a crusade to re-educate and re-focus business owners/managers to lead more, work less, and enjoy greater freedom, financial success and happiness. In short, trying to get owners and managers to think and act strategically and effectively.
Too many owners/managers are gifted technicians but not very effective as strategic leaders. If you are not leading in your business, who is? If you are not being strategic, who is? If you are not proactive, who is? To find out if you are a strategic business owner, ask yourself the following questions:
-Do I see the big picture and have a long-term view?
-Do I think more like a CEO than an employee?
-Do I create a yearly business plan?Is my leadership purposeful, proactive, and planning-based?
-Do I constantly think about the direction and objectives of the business?
-Do I focus on the entire business and not just the technical work of my business?
-Have I created plans, procedures and policies to help operate my company?
-Have I developed and documented all our key business processes?
-Do I utilize the leverage of marketing to grow my business?
-Do I spend more time on important matters rather than trivial/urgent matters?
-Have I created a systems-dependent business instead of an owner-dependent business?
-Do I conduct one-on-one monthly coaching sessions with my managers and/or key employees?
-Do I avoid getting buried in the day-to-day details and headaches of the business?
-Have I shaped my business more by design than by default?
If you answered “no” to most of these questions, you are operating as a tactical, reactive business owner. You could benefit greatly from becoming a strategic business owner (SBO). In short, a strategic business owner gets the highest and best return possible for his/her time, money and effort. He/she focuses on working smarter, not harder. Interested in transforming your mindset and behavior to be more strategic? Then Get a Growth Coach!
OK, time for some more business coaching. Look at the answers to the important WHY questions. Why did you go into business in the first place? Why does your business even exist? Now, take another 10 minutes to dive into and swim among those original ideals, dreams, desires and feelings once again. Go for a total immersion. Lose yourself in your initial passion and purpose. No matter how many years you have been in business, you should still be able to reconnect with those emotional outcomes you deeply wanted. Also, no matter the economic or political winds, you can still sail very effectively with those ideals and dreams keeping you afloat. They should be as powerful and motivating as ever. In fact, your dreams will provide you with some much needed perspective and balance to counteract all the negative news, political silly season, economic uncertainty and stock market gyrations.
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