View last weeks article at What is your formula for success? How do you define success?.
Feedback from readers included success means different things to different people. But often it includes the realisation or achievement of a worthwhile and predetermined goal. Hence an important difference between people relates to what their values and goals are.
This week we discuss the planning cycle.
The planning cycle involves four key steps:
- Develop ideas
- Think
- Act
- Results
Development of ideas comes from both positive and negative drivers. On the positive side, you may seek to achieve an outcome or goal. On the negative, you may seek to avoid a current problem or concern or address a crisis. Whatever your driver of ideas, it is important that you contemplate both strategies and concepts that will assist in your planning.
As part of the development of ideas, a business review and health check will provide an excellent framework for assessing both your current situation and SWOT (business Strengths, Weaknesses, Opportunities and Threats).
I hope the thinking component of the process is clear. In its basic form it involves time to consider relevant solutions. It may also consulting advisers and relevant sources for frameworks. At its broadest level it will require your personal values, attitudes, and philosophies of life/values.
While all of this contemplation and planning are critical, and in many cases may represent the most time consuming component of the planning process, action is most critical to both drive change and achieve results. You must act to achieve the outcomes or goals that define your measure of success.
Results will inevitably arise from the plan and actions you take. Whether you achieve success only time will tell. Regardless of whether the results meet your targets or achieve your goals, if you take action, you will get results. Good or 'bad' results will depend on whether they are desired or undesired?
Contact Medici Capital to discuss the health of your business.
In next week's newsletter we will discuss the Goals.
Advertisement: