Here’s what we will cover today:

• Learn how success can breed stagnation and how to stay proactive

• Grab our strategic plan template to boost your success

• Discover how to measure what people think of your brand

Quote of the Day

“If you don’t like something, change it. If you can’t change it, change your attitude.”
~Maya Angelou

Today’s Tip

Yesterday, we discussed the importance of dedicating time to strategic thinking. Today, we'll explore two more common challenges that can hinder business growth: complacency and excessive long-term planning.

3. Getting Complacent When Things Are Good

My friend, Paul Lemberg, refers to the Comfort Zone phenomenon as leading business managers to become “fat, dumb, and happy.” In other words, becoming complacent when things are going fine. This can lead to becoming reactive with your strategy, rather than proactive. Do you want to be reconfiguring your company and innovating under duress at breakneck speed at the last minute, or well ahead of time when the pressure is off?

Quite a few companies wait until a crisis comes around to kick-start their strategic thinking out of necessity. You don’t want to be planning during a crisis…

4. Wasting Time With 5-Year Plans

Let’s be honest here…isn’t a five-year pretty much a one-year plan, plus 4 years of guessing?

You MUST have a clear vision of what your company will be like in 5 years, but to try and guess the details of what will be going on in 43 months, for example, in a fast-changing world is wishful thinking.

But once again, you must create your long-term (5-year) vision, which will guide all of your annual and other planning. Take a sheet of paper and describe the key elements of what you’d like your business to do, be, and look like in 5 years. Document this and use it to judge new opportunities and directions to see how well they fit.

Tune in tomorrow for the final two challenges and tips on how to overcome them.

Today’s Resource

Do you have the right plan?

The right strategic plan for your business includes:

1. the best strategy to follow

2. a written roadmap so there’s no confusion as to what your team needs to accomplish and when

Our strategic plan template allows you to create a winning plan quickly.

In no time, you’ll have a strong plan to follow so your company wins.

Why play the game of entrepreneurship if you’re not going to win?

Trivia

Today’s Question: What was megacorporation IBM known as before its name was changed in 1924?

Previous Question: What was introduced by Barclays Bank for the first time on June 17, 1967?

Previous Answer: The First Cash Dispenser (ATM).

The world's first cash dispenser was installed at Barclays Bank, Enfield, Middlesex, UK.

News

How to Create Your Content Marketing Strategy

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