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Don`t leave your Goals & Strategies on the shelf gathering dust 17 January, 2007

Posted by varoom in Business Plans.
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Having goals and strategies for your business is important for several reasons but most importantly to guide your business in day to day decisions. If you have to make a business decision how do you know if the answer is the best one for your business? What you should do is ask, if I take this decision does it help me achieve the goals of my business? This check will ensure you take the opportunities that will reinforce the chance of success of the business and its goals.

In my role mentoring start up companies I am asked frequently if a new wonderful opportunity should be taken by the business. These opportunities can be short term but attractive financially. I always ask, how does this business help the company achieve its business goal? Is it consistent with the strategy needed to achieve the goals or will this opportunity distract or take resources away from achieving the main goals? I know this is very easy for an independent person, outside the business, to ask. But someone should ask, and after asking the question if the decision is still to pursue the opportunity then that’s the responsibility of the business management.

On occasion, however, these new opportunities can force a rethink of the goals and strategies and whilst sometimes the right thing to do, these changes must be made carefully. Changing the goals and strategies on a regular basis is the same as having no strategy at all.

If your business involves product development and you are on a long term development path, changes in short term priorities could have a detrimental effect on the development and could have long term business impact.

Having the right Goals and Strategies should make decision making over the short term easier if you use them as they were intended.

Don’t leave your Goals & Strategies gathering dust on the shelf!

 

Greville Commins

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Comments»

1. Linna - 1 April, 2007

I have found out the useful information for me, thanks a lot.


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