Organizational Compass' Bruce Sheridan Reveals 5 Ways To Gain Traction From Your Vision
By: Organizational Compass
Instead of creating a business plan that sits on a shelf gathering dust, Sheridan recommends business owners follow five strategies, as outlined in Gino Wickman's book, Traction-Get A Grip On Your Business. The goal is to create a vision and then develop an action plan to ensure new levels of growth and success are achieved.
1. Delegate and Elevate. A business owner should focus on their strongest skill set and delegate tasks of lesser proficiency to others. In order to grow, the CEO cannot remain chef, head waiter, and dishwasher. They must focus on long-term growth and spend more time "on the business" rather than "in the business", passing-on activities that stymie growth.
2. Long Range Planning. Business owners need to determine what their company should look like three years down the road, then begin to work backwards to ensure that vision is attained. Who are the people that will help you get there? What processes will you need to be in place to turn that vision into reality? The plan must then be communicated and agreed upon throughout the company. Similar forecasts should be made projecting for one year and even 90 days into the future.
3. Short Term Predicting. The leadership team needs constant updating to stay on track. Similar to public companies that issue reports every 90 days, the company should evaluate its progress every three months. Many successful companies have quarterly meetings to assess their progress and set a course for the next 90 days. Some even have regular off-site planning sessions to not only integrate new ideas but motivate the team.
4. Systemization. Rather than flying by the seat of their pants, business owners need to clearly identify their core processes and integrate them into a fully functioning machine. These include processes for human resources, sales, marketing, operations, customer retention and more. All must work in harmony to reach any long term objective. These processes need to be conveyed and made crystal clear to everyone in the organization.
5. Structure Development. A structural redesign may be necessary to reduce complexity and create accountability. The operation should be constructed to boost the company to the next level. It cannot happen if the organization is stuck in old ways and unwilling to change. The leadership team should have their own areas of responsibility with measurable targets, then be accountable for their results.
Sheridan says, "Vision without traction is just hallucination. Putting these five steps into action will eventually create the 'aha moment' for the business owner."