54. An Interesting Question
What’s Inside
The Question
Going Monthly
1. The Question
During a recent Strategy Power Hour, a client asked, “What if I don’t want to focus on money?”
I replied that he’s spot on to ask this question & that revenue is just one measure of success.
He's the CEO and can focus where he wants – but it would likely help his team to know where the goal post is.
It is like being an athlete but you're uncertain if you’re training for a 5K, 10K, or marathon.
Knowing whether this company wants to maintain a $2.5 million dollar business or grow to $3 million or $10 million in the next few years will impact a lot – the team, technology, processes, and more.
We talked about how each leadership team member can align account plans towards the overarching goal.
We addressed creating an incentive structure for the team to work together.
And we discussed how his messaging is important to any change.
We then discussed what success looks like and how it comes in many different forms. Below are just a few:
Financial – How much do you really need? Do you want to maintain or grow? Are you hitting the targets you’ve set? Is the goal realistic and can the company sustain growth? Do you want to sustain those numbers and the infrastructure it may entail?
Engagement – Do you like the work you’re leading? It may be highly profitable but a miserable experience. Is it worth it? If you hire, are you able to retain staff who enjoy the work they are doing?
Impact – Are you creating the impact professionally and personally that you want? Do you have the time and autonomy you desire?
Consider, the example –
$1 million in revenue at 20% profit is $200k.
$250k in revenue at 80% profit is $200k.
Each business nets $200k.
But behind each one lies a different business model.
That’s why clear measures of success are important to Jumpstart Your Strategy.
If you haven’t already, clarify what success looks like for you & then build your business around it.
2. Going Monthly
Feedback asked & received.
Thanks for your feedback in January on Strategy Made Simple.
After a year plus of weekly emails, this newsletter will publish monthly moving forward.
You get a lot of email. I get a lot of email.
My goals are to stay in touch, share information that benefits your business, and find the right balance.
3. Ways to Work Together This Year
Exploring Entrepreneurship: 15-min virtual call to explore if entrepreneurship is the right path for you. (Schedule)
Strategy Power Hour: 60-min virtual session to tackle a specific challenge your business is facing. Develop laser-focused next steps to help you move forward with confidence. Includes Top Three Takeaways, near-term action plan, and one 15-minute follow-up call to gauge progress. (Schedule)
1:1 Private Strategic Advisor: Two-hour virtual kick-off session to jump start progress. Define where your business is going & why. Develop long-term vision & near-term priorities and goals. Meet 2x/month during 1-hr virtual sessions to gauge progress, discuss challenges, and determine next steps. Includes spot support between sessions. (Learn More)
VIP Strategy Session for Growth: Virtual half-day session to leverage your expertise for growth. Align your long-term vision & near-term strategy, priorities, and goals. Develop North Star with your go-to market plan. Includes strategic document review before session, in-depth SWOT analysis, & one 30-minute follow-up call to gauge progress. (Learn More)
As always, thanks for reading.
To your strategic success,
Susan
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