I have just completed my 2018 strategy and cashflow projections and learnt some valuable lessons I want to share about planning – you must do it if you want to keep growing and if you need help, ask for it.
When I was at Flightcentre Elizabeth Street and Queen Street, strategy and cashflow meant share options and bonuses. It was something I just did because it was tied to my income and growth in the business. Until now, I hadn’t realised what a struggle I have had in the last 10 years to be motivated to detail my strategy for my own businesses. In the corporate world, you would never venture into the year without a detailed plan to sink your teeth into. Yet, so many of us in small business start each year without any idea of where we are going, how we are going to get there and how we are going to finance it.
Working for Flightcentre, often saw my commission spent before I earnt them with all the travel I wanted to do – it was ok because I was part of a team with the full support of a corporate machine behind me. Once I left the corporate world and went into franchising, my cashflow and strategy was to win awards and be eligible for global conferences and maintain my coach’s coach position. I never really thought too far ahead because again, the structures and systems were there as my backup.
However, now I am the leader of my own company, I must be disciplined and motivated to do my strategy and cashflow for myself. The buck stops with me. It is hard to grow when you do not have a clearly written plan for the future. Always ask for help in areas you are weak in – I am useless at spreadsheets, however by receiving the help of someone who is good at it and at creating strategies, it has given my crystal clarity for the year ahead. One of my workshop attendees from last year offered to help me with this process – his is simply a genius so I jumped at the chance. After two sessions at three hours each, I can see with clarity my year ahead.
One thing he taught me is that each month, as we add my actual sales and expenses, we re-do the strategy quarter by quarter to make the process better as the year progresses. A strategy is a living document open to change – as small business people we have to be ready to adapt.
My strategy will help me grow my business but also plan for other areas of my life. I have found including my family in the process helps them see my vision. I have asked my kids what their top three goals are for this year. Kent and I also have out goals set too. This strategy will help out family enjoy 2018.
For help with your plan, join me at the quarterly panning in 21 February and I’ll show you how it’s done.