Do you have a vision about ‘where your business would be’, in the next five or ten years? Have you developed a roadmap, to ensure that you achieve your vision? Are your business activities, ‘today’, aligned to contribute towards achievement of your vision ‘tomorrow’?
Irrespective of its size, a business requires strategy, for it to be successful. Majority of the small and medium enterprises in India lack a ‘planning process’, which is an essential catalyst for driving the venture in the right direction. You might have a vision for your venture, but unless you and your team articulate the strategy and document a roadmap, the chances of attaining your vision, within the given time scale, is remote. That’s the reason why most of the ‘small’ businesses remain small and ‘medium’ continue to be medium. Lack of planning is also the reason why a majority of startups fail.
The planning process, with quarterly reviews and updates, is an important tool for every organization, helping each person to be focused towards achieving the ‘Big’ goal. We help in designing and implementing a laser focused planning document, entailing:
Purpose – The reason for the organization to exist. It is important to note that ‘purpose’ is not to earn money; rather, money is the outcome of the purpose;
Mission – Typically, the goal for 5 or 10 years;
Annual priorities – Goals for the year that will help achieve the mission;
Quarterly priorities – Goals for the next quarter, necessary to achieve the annual priorities;
Weekly Goals – Key tasks (five, at the most) required to achieve quarterly goals;
Daily Tasks – Three to five tasks that need to be performed, to achieve the weekly goals.
Laser focused planning ensures that every person in the organization performs some tasks every day, to achieve the ‘Purpose’ of the venture. This process improves the efficiency and effectiveness of every individual and ensures alignment of each activity towards the ultimate ‘Purpose’ of the organization.