Business Chops Tip #129: How Do I Plan Further Than 30 Days In Advance? (
Do you know where your business will be in six months? One Year? Three years? Progressive companies in our industry have plans that look ahead at least one year. We're not just talking about budgets, but a real business plan.
The strategic component extends three to five years out and describes what you are going to do (core objectives, sales approach, positioning). The operating plan component provides details on how you are going to succeed and includes trackable financial and non-financial metrics. You need both (strategy and tactical operating plans), otherwise you¹ll be floundering like so many of your competitors.
Author's Note: Creative and technical professionals (from musicians and actors to designers and engineers) rely on their "chops": those skills and techniques that they use to be successful on the job. Stiernberg Consulting coined the term Business Chops to encompass those skills, experience, and tactics that you rely on to be more successful. Whether you are a dealer, manufacturer, distributor, rep, or design firm, this series includes tips and techniques for optimizing sales, profits, and growth of your Custom Retail business.