We’re Taking Our Business To The Next Level In 2016. Here’s How.
It’s the new year, and time for a new you. At this time of year we entrepreneurs like to plan for the months ahead, setting new goals for ourselves and our companies.
The last month was crazy. We call the final quarter The Mighty Stretch. During this period we wrap up our internal projects, create end-of-year reports, and craft new strategies for our clients.
And this year’s Mighty Stretch saw our most effective annual offsite yet. Here’s how it went: First we revisited our company’s mission, vision and values as they stand after a year in business.
Then we talked about the milestones we reached in 2015. We remembered winning an award and securing two grants. We celebrated all our hard work and achievements. Then we outlined our initiatives for next year.
IN TERMS OF INTERNAL STRATEGY WE’RE LAUNCHING INITIATIVES THAT WILL PUT THE COMPANY ON AUTOPILOT. WE WANT THE BUSINESS TO RUN ITSELF AS MUCH AS POSSIBLE.
We want to systematize our entire operations program. When you’re in the startup phase, you rarely stick to your business plan. This is the testing period, when you’re still on the hunt for a firm business model. You’re receiving huge amounts of data, doing a lot of trial and error, working with clients and always making changes to hiring, training, operations and pricing. Thankfully we’re long past our startup days. SME status looms, and we’re feeling optimistic. As a growth company, we’re reinvesting all our profits back into the business to create multiple revenue streams and keep the company diversified.
All that aside, in terms of internal strategy we’re launching initiatives that will put the company on autopilot. We want the business to run itself as much as possible. To that end, we’ve made three decisions.
First, we’re going to run our entire operations system online through a project management system. This has worked wonders for me. It’s a fantastic way to coordinate projects and goals while keeping the team on the same page.
Second, we’re introducing KPIs. This change has been much anticipated, and was a frequent topic of discussion in the last year. Third, we’re establishing a ‘stop and start’ work culture. This means setting targets for each quarter, a yearly hurdle rate, bonus schemes and (most importantly) fun and exciting themes for each quarter.
AND I’M TAKING A NEW APPROACH TO MANAGEMENT. ONE THAT COMBINES HAVING A GOOD TIME WITH MAKING STRATEGIC DECISIONS.
So that’s the company strategy. But my personal goal for 2016? To have fun and be happy.
For the last three years I have been hustling, trying to create a business that can grow from strong foundations. Now, as I enter my 30s, I open a new chapter in my life. And I’m taking a new approach to management. One that combines having a good time with making strategic decisions.
I want to take on strategic clients who represent long-term investments, rather than working with just anyone. So I want the power to choose projects- to say yes or no.
Haven’t yet set time aside to plan for 2016? I suggest you read Verne Harnish’s brilliant book Scaling Up: How a Few Companies Make It…and Why the Rest Don’t.
It’s jam packed with advice on how to grow your firm while also keeping all of your team on the same page, so that you can create a profitable, happy and healthy business.
Happy new year everyone!
