Create your best year ever
How is your business at the moment? Are you finding it tough? Depressed by the constant headlines about Brexit effects, job losses and carnage in the retail sector?
Well the fact is that even in the toughest times, good businesses can not only survive but thrive. So, what can you do to not only keep your business going but to make the next 12 months your 'Best Year Ever', and the following twelve months even better.
Well the great news is that you have a choice.
The reason that many businesses fail when times get tough is that they fail to adapt to the new realities. They use the same marketing strategies that they did when times were good.
That's like wearing your summer flip-flops, the ones with the smooth soles, in the winter when there is snow and ice on the ground. It just won't work and you will probably fall and get hurt.
To succeed in today's economy you need proven marketing strategies to reliably generate leads, sales and higher profits. If you don't adapt to that reality you could lose your profits and ultimately your business.
The power of thoughtfulness
Your ability to think and plan strategically is perhaps the most important single skill of the business leader. In a longitudinal study of leaders who, in retrospect, made the best and most effective decisions, the single quality that stood out from all the others was the quality of 'thoughtfulness.'
Thoughtfulness can be defined as a careful concern for the secondary consequences of each decision and each action. This is the essence of strategic thinking.
Your most powerful tool
The most powerful tool that you as a leader have to bring to your work is your mind - your thinking ability. Every action you take to sharpen up and hone your mind to think with greater clarity before you act, will benefit you and help you to move upward and onward more rapidly in your career or business.
The best approach to strategic thinking is two-pronged. You need to work simultaneously on the personal and the corporate.
Increase your 'return on energy'
In personal terms, strategic planning is an exercise in increasing 'return on energy.' Your greatest single asset is your earning ability, and your earning ability is nothing more than the total mental, emotional and physical energies that you can apply to getting valuable results both personally and for your business.
Any steps you can take to increase your return on energy invested will increase your overall levels of effectiveness and contribution in every area of your life, especially and most importantly in your work.
Here are a couple of exercises you can do immediately to increase both your return on equity and your return on energy.
- Think about everything you are doing in terms of financial return to your business. Of those, what are the things that are providing the highest return on equity? Whatever they are, do more of them.
- Think in personal terms about the things that give you the highest return on energy. Where do you contribute the greatest value and achieve the greatest satisfaction? Whatever they are, do more of these things.