With all the talk of change in business, economic climate, consumer behaviour sometimes it’s easy to be overwhelmed by the amount of information coming through. Yet to ensure success in business, you need to constantly “RENEW” your business plan.
RENEW is a 5 step process that I use to ensure clarity and success in business operations. I’m sharing it here so that you can use it and benefit from it.
- REVIEW: Undertake a simple review of how the business operations are performing against the plans implemented i.e. are the specific activities initiated bringing the desired results or not.
- EXPLORE: For areas of operations that are not delivering the desired results, look at the process and the tactics initiated. Is something missing? Would you do something differently? Explore other solutions for the desired result you need.
- NEGOTIATE: In small to medium organisations and in partnerships, often times, there is a conflict in terms of the strategic direction and the necessary action to take. Having reviewed and explored options that may be more effective, you would have to present a possible tactic or solution tactfully i.e. you’d have to negotiate with your senior team in order to ensure their compliance so as to be able to deliver on the new tactic.
- EXECUTE: Sometimes, the best laid plans often fail due to bad execution. A strategy is as good as its execution. So when executing a new solution as a tactic or an activity, keep a close eye on the input and reactions and be adept and flexible enough to react and change as you and your team carry out the execution.
- WIN: Finally, having done the “renew-al” get ready to win and enjoy the success that comes in. Through out the “Renew” process, its crucial that you keep a positive attitude that communicates “confidence” to your team and your clients/customers. This positivity would rub off during negotiation and execution and finally bring you achievement of your targeted plans.
If you found RENEW helpful and useful here’s the link to two other business planning tips that you may like:
- Tactical Planning in Business (thinkup.waldenu.edu)