How to adjust your business plan to have a more successful year
By LeAnne Williamson, CEC, AMAP, ATI Performance Coach
If you’re like most shop owners, you started the new year with a set of resolutions or goals and a plan to perform better. So, how’s it working out for you? Did you hit the first quarter mark, or are you trailing behind? By now, you should know how well your shop is performing and if you are on target to reach your shop goals. But, if things aren’t going according to plan, it’s time to make some adjustments or change course entirely to ensure that you finish the year strong. And, if you don’t have a plan at all, it’s not too late to get started, and I’ll show you how.
So, how do you start or turn things around? Before you can get to the HOW, begin with determining your WHY and WHAT. The HOW will come once you identify WHY your plan is off course and what you should do about it. You cannot adjust or fix what you cannot see, so write these details down. Then, create goals to share with your team to ensure continuity and commitment reaching them throughout the term. In short, plan your work — work your plan!
Limited Time Offer: ATI's S.M.A.R.T. Goals WorksheetIf you don’t know the direction you’re going, you will never get to where you want to be. Taking the time to set S.M.A.R.T. goals will provide you with long-term vision and ongoing motivation for hitting your shop’s growth milestones. To start, create your shop’s S.M.A.R.T. goals with ATI’s S.M.A.R.T. Goals Worksheet. To receive your copy, go to www.ationlinetraining.com/2022-03 for a limited time. Although we are nearing the mid-year point, there’s still plenty of time to adjust your business plan to achieve the results you want. Just follow these seven steps to make a fresh, new start.
1. Identify your strengths and weaknesses, opportunities, and threats
Did you address these critical questions about last year’s performance before writing this year’s plan? When it comes to creating goals and plans, you often have to look backward before you can move forward. When determining your strengths, weaknesses, opportunities, and threats, also consider your competitors. What is your biggest advantage over the competition? What do they have over you? How much risk will you have to take to perfect your strengths and address your weaknesses? Establish your best plan of attack, considering both potential and risk.
2. Analyze your current processes and operations
Ask yourself whether there are better ways to do things or to operate more efficiently? It’s important to streamline and maximize your efforts to spend less time, effort, and money to get the greatest return. Determine how to improve productivity and establish priorities on what improvements you can make on operations and processes already in place.
3. Set the goals and develop a plan
Once you’ve answered the critical questions and analyzed your processes, it’s time to start developing your plan. Establish goals, a timeline, a budget, and a plan of attack.
Be sure to follow the S.M.A.R.T. formula, which suggests that each goal you create must be Specific, Measurable, Attainable, Realistic, and Time-bound to be successful.
4. Set your plan in motion
Cement your new plan by rolling it out to your team and implementing it in your shop. Share it, engage others to help you get there, divvy up the tasks, measure the journey, and celebrate the victories. Do not wait—start immediately. When you just talk about it and then do nothing—then you’re wasting time and losing credibility. Encourage your team to be flexible and embrace change so that they stay the course and remain committed.
5. Maintain your commitment
Keep the wind at your back and steer your plans to success! Maintain momentum and commitment by remaining focused, measuring performance milestones, and sharing feedback with your team. When obstacles or failures occur, redirect your efforts, keep moving forward, stay positive, and do not give up.
6. Surround yourself with accountability partners and an advisory team
Have a sharp vision of the plan, the goals, and the future, and share it with others. Develop a second-in-command from your team to guide the others when you are away. Create standard operating procedures for key operations and tasks to ensure they are streamlined and consistent. Also, form an advisory team among your employees and provide them with regular training geared toward achieving your shop’s goals.
Provide developmental plans and supporting performance reviews for all employees to guide, celebrate, and redirect employees toward reaching your shop’s goals. Be sure to solicit their feedback and make everyone feel that they are a part of something bigger.
7. Feed your eagles; starve your turkeys
Be prepared that some employees will fall short of your expectations and exhaust your time with reprimands and problem-solving. Rethink how they may fit in with your team to accomplish your plans and goals. Time spent correcting behavior could be better spent collaborating with solid team members and top performers. Feed your top performers so that they continue to rise and starve your nonperformers when you’re sure they’re not likely to improve. Spend time on items that will positively impact the accomplishment of the goals. Watch out for the hamster wheel to prevent doing the same thing repeatedly and getting the same results. If you find yourself in this situation—stop, evaluate the situation, decide to make a change, then act on it.
In summary, make the above steps part of your standard operating process every year. Being successful in your business requires a wholistic approach, including strategic, technical, and visionary planning. Just because you are good at your work does not mean you can run a successful business. Spending time thinking strategically about the business will help you hold your vision and direction.
Download ATI’s S.M.A.R.T. Goals Worksheet at http://www.ationlinetraining.com/2022-03 for a limited time and prepare yourself for an insightful journey into designing your future. If you need help, ATI is here to assist with that journey. Want a coach/accountability partner—give us a call!
