Okay, we just closed out another quarter in this business year. Sometime early this year, you hopefully took the time to set some S.M.A.R.T. business goals, such as to help the company achieve its yearly objectives. You wanted to make sure your contribution to the bottom line would make a difference and stand out from the crowd.
So, when was the last time you looked at those goals? Have you met any of the milestones that you had set up? Are you on track to meeting those goals? What needs to be done between now and your next performance review to be on target to meeting those goals? Are you taking advantage of the various business opportunities that have come your way?
As you know, today’s increasingly competitive business climate demands that we maximize each and every business opportunity. Energetically work to ensure goals are met. Unfortunately, we just seem to focus on narrowly defined opportunities, responding to challenges and opportunities within a specific business sector. Important? Yes, but at times, these challenges and narrow opportunities often take us in a direction that is away from the specific goals we have set up.
You may not want to be tied firmly to a specific goal when an opportunity presents itself. But by applying a consistent approach as one assesses these opportunities, then develops strategies, and execute plans to address them, one can drive performance for their products and services to levels never before achieved; making a significant contribution to the company’s bottom line; improving relationships with customers and increasing your value to the organization.
There is a six-step approach that one can follow so as to identify, assess, and maximize business opportunities and still keep specific goals in front of you. You set them, now let’s make sure you achieve your goals. As you review the six-step approach for success, note your response to the thought provoking questions.
1. Identify and Quantify Opportunity
a. What is the opportunity or challenge?
b. Can the opportunity be quantified? If so, what is the potential?
2. Develop Strategy
a. What is the primary strategy to leverage the opportunity?
b. What resources are needed?
c. Who are the primary stakeholders, and what are their roles and responsibilities?
3. Communicate Strategy to Stakeholders
a. How was the opportunity and corresponding strategy introduced to the stakeholders?
b. How are ongoing updates and progress reports communicated to stakeholders?
4. Incent/Ensure Accountability
a. How is consensus developed?
b. How are internal stakeholders motivated?
c. How is accountability maintained?
5. Implement Program
a. What is the implementation plan?
b. What are the key action items/deliverables for each stakeholder?
c. Who is tracking the program’s progress?
6. Provide Feedback
a. How is success measured?
b. Did the program meet its objectives?
c. What can be shared from this experience?
As you follow this six-step approach you to can maximize your business opportunities, achieve your goals and make a significant contribution to your organization’s BOTTOM LINE!