Resolution: Success

Happy New Year, and welcome to 2012 – and the promise of success. The New Year presents us with the challenges of exploring change and the opportunities for experiencing growth. Making resolutions is a tradition that many of us embrace, but few actually benefit from. Perhaps that is because making resolutions is often seen as a goal in and of itself, rather than a starting point for setting real goals and building a solid actionable plan. There are, however, ways to ensure that the goals you set are not only realistic and the right goals for your business going forward, but attainable.

First, examine where you've been.

The best way to find build a plan is to identify what has been working up to now and what has not. That means starting with a review of financial statements, marketing efforts, HR practices, and business processes and procedures. It also means taking a look at those factors which may have changed since you last reviewed your situation: things like the economy, the marketplace, your target market, the competition.

Then, determine where you want to be.

Think about the dream that you first had for this business of yours. Has that dream been realized? Is it time to dream bigger? Or is it time to re-visit the dream itself? You will need to think in specifics. Where do you want to be in 2 years, 3 years, 5 years? What does success look like to you? How much money do you want to be realizing? How many customers does that translate into? Will your location change? How many employees will you have? What will your life look like?

Plan the journey you want to take.

None of us would take a trip of any magnitude without preparing for it, yet many people embark on what is the biggest journey of their lifetime – starting and running a business, without a proper plan. When you have a clear idea of the desired destination, it is easy to make a plan to get there. Unless you have that plan, however, you may never arrive, or you will almost surely arrive ill-prepared. Make a list of those actions that you'll need to do to make sure you not only get there, but that you enjoy the journey and all that it offers you. The more specific you make your action items, the more likely that you will accomplish them.

Then, plan for change.

A business plan should be a living document, changing as needed to reflect the times, the market and needs of your customers. Remember to incorporate and plan for change whether that means changing products, process, service, or marketing and management strategies. Keep learning. Read books, take a course, explore the web, and get to know the resources in your community that can provide the information, education, and assistance you may need to tap into. And find a balance between work and play. Time is not something we 'find', it's something we use. Use it wisely. Delegate, prioritize, be flexible, and reap the rewards of your efforts. May 2012 bring you health, happiness and prosperity.

Terri Plaxton Smith is the business consultant for the Greater Barrie Business Enterprise Centre, 24 Maple Ave., downtown Barrie. For information and assistance, call (705)720-2445. Watch for our column in the Huronia Business Times each month.