One of the most important things any business owner or top executive must do is establish the strategic direction for their company and then keep their eyes on the horizon to ensure that their organization does not stray off course. This sounds easy to do, right?
Well, as they say, easier said then done. What we have found with many of our business plan clients is that for one reason or another they remain too heavily focused on details or daily tasks which should either be delegated or outsourced, rather than on the big picture.
No one will argue that the daily “to do” list for any business owner can be overwhelming. The daily to do list is important. The daily to do list is necessary. But, taking time each day to think critically about your business as a whole, about where you are today and how you plan to get to the next stage in your company’s development, is of equal or greater importance.
Preparing a business plan is one of the ultimate tests of a business owner’s ability to focus on the big picture, on what is next for their company. The business planning process forces you to look beyond your to do list. It forces you to forget about the fact you need to hire three new sales people. It forces you to put aside the reality that one of your vendors is now 24 hours late delivering a key component of your product. It forces you to ignore for a moment that your accounts receivables aging is spinning out of control. The business planning process instead compels you to look into the future and empowers you to build a roadmap for your company’s long term success and prosperity.
The next time you feel like you are trapped inside your business, remember it is your ability to put down your to do list and instead focus on the future, on your strategic direction, on your bigger vision that will lead you to ultimate success. It does not matter if you are writing a business plan. What does matter is that you start working on your business rather than in your business.
About the Author, Scott Pollov
Thanks Scott you brought back some old memories. In my present business it’s just my wife and I but years ago I was CEO of a fairly large corporation. What truly made that business very successful is my ability to delegate the to do list and I held people accountable but I let them do it their way so they could take complete responsibility for it.
Thanks for the reminder,
Michael
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Scott Pollov Reply:
August 13th, 2010 at 6:42 pm
Michael. Great advice on delegating your to do list, but holding people accountable. Almost everyone loves to delegate, but holding people’s feet to the fire for following through is the tough part.
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Hi Scott
This is really sound advice as it is very easy to get caught up in the day to day tasks of your business and not have any strategic future direction. I was going to say that it may be because the business owner doesn’t actually know how to do this, but I noticed your post on how to write a business plan. So this would be critical reading for any business owner as well.
Thanks for this great blog full of info of this kind.
belinda
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Scott Pollov Reply:
August 13th, 2010 at 6:40 pm
Belinda. There are plenty of great business planning tools out there. We find the reason most entrepreneurs don’t prepare a business plan is they simply don’t have the time. It can be quite a commitment, but it is well worth the time and resources to get it done. Thank you for visiting our blog.
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Hey, Scott:
It looks like we have a similar background. I’ve been a business coach/consultant for almost 30 years. In that time, many thought a business plan was a waste of money and time. They didn’t understand that to obtain funding or business investors, you have to “show them your vision.” The actual process the business owner goes through while preparing a thorough business plan is an education in itself! It gives them insight into knowing themselves and their market on a completely different level. I also found that it made a lot of “pie-in-the-sky” ideas either “get real” or go away! LOL!
Thanks for sharing a great post!
Deborah
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Scott Pollov Reply:
August 13th, 2010 at 6:39 pm
Deborah. Thank you for the great comment. I could not agree more with your take on business plans – forgetting their use in raising capital, they are a great tool for better understanding your market opportunity and the specific strategies and tactics you need to deploy to succeed. We recently posted an article on the eight great reasons for writing a business plan – http://www.bizplanit.com/blog/why-write-a-business-plan-eight-great-reasons. Let us know what you think!
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Hi Scott,
I agree with you totally! As a CPA, I have worked with many business orders on their business plans. It is vital to the health of the business to have a business plan in place. Otherwise, how do you know where you’re going or how you’re going to get there. Thanks for sharing this important information.
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Scott Pollov Reply:
August 14th, 2010 at 9:34 pm
Debbie. Thank you for the comment. The best use for a business plan is to establish a road map. While a plan will and should change, it is helpful to have a blueprint on paper that can be easily modified and update to include new information and changing circumstances.
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Hi Scott ~ Yes, having a business plan in place is absolutely critical to massive success. Sure, small successes can be achieved without one, but unless you want to waste a lot of time and spin your wheels, then the plan is a must! I have recently been talking to my business partner about how I need to start outsourcing more, but in the meantime, I am definitely very strategic about my plan. I have a long-term strategic plan, which embodies my vision, mission and legacy, and that obviously is negotiable!
Then I also have my day to day plan of 80% income generating activities to 20% “busy” work. The busy work is important, but it doesn’t put money in the bank in the now! 
Thanks for sharing this great post!
Beth Allen recently posted..Lessons for Winning in Business & Life
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Scott,
So very, very true. The real success in a business comes from the planning, the critical thinking and seeing the “big picture”. And oh is it tough sometimes to be disciplined enough to put down that darned to-do list
Thanks,
~ Pat and Lorna
http://TheCoolestCouple.com
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Hi Scott,
The very last paragraph is truly what captured my attention, about how it’s most important to starting working ON your business than IN your business. I think sometimes we tend to get caught up on the little things, and this can in turn, cause us to lose our momentum & focus when building a business. Great info & I appreciate you sharing
Christine
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Scott Pollov Reply:
August 24th, 2010 at 6:03 pm
Christine. Thank you for stopping by. It is often more difficult than it should be to forget the to do list and instead focus on the big picture. As entrepreneurs, there is always something that could or should get done today. However, the benefits of thinking about the long-term should not be underestimated.
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Scott, That is so important to sometimes stop focusing on my current to-do list and focus instead on the bigger picture. So often I get caught up in today’s problem, glitch, difficulty, delay, and I forget how many of these have been overcome in the past and that these will also be handled. But where am I headed? Where do I want to go? What is the bigger picture for my business? When I focus on my future plans and aspirations, suddenly those daily difficulties become minor and trivial interruptions.
Thanks. Erica
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Scott Pollov Reply:
August 25th, 2010 at 12:08 pm
Dr. Goodstone. Thank you for stopping by our blog. You are correct – the to do’s always seem to get done and are just replaced by the next set of to do’s. Taking a step back and looking toward the future puts everything in perspective and gives us an opportunity to really take large steps forward with our business. Thanks! Scott Pollov
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Hello Scott,
Enjoyed your post on this subject. It hit home with me and I could relate from being in a few different businesses over my working career.
You are so right about having to look forward with yourself and business plans and the importance of actually having a business plan in place to work with. Thanks for sharing your wisdom.
Wishing you all my best
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Hi Scott, I know how easy it is to get lost in the little details. I am the only one working my business and I did write a plan. Now I have it mostly in my head, but it is so so easy to get distracted by details and bog down and forget the long term goals. Thank you for reminding me…this last week has been pretty scattered.
Carolyn from TSA
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Scott Pollov Reply:
September 4th, 2010 at 4:28 pm
Carolyn. Thinking past our daily to do list is VERY difficult. I know I catch myself getting to focused on the small stuff at the expense of larger, more strategic issues. Thanks for leaving a comment! Scott Pollov
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Scott, it’s great to see you emphasize the importance of always having a clear view of the big picture. This sounds like a battle plan to me. Advances should always be evaluated and made with the focus on the big picture, winning the battle so to speak.
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Hi Scott,
Excellent post. You are doing an excellent job of steering entrepreneurs in the right direction. From what you’ve said, we know that seeing the big picture for your business and often making adjustments in our actions to make the big picture a reality is essential. It is something that many new and inexperienced entrepreneurs don’t see the significance of.
The daily to do list can be so overwhelming that we often don’t feel there is any time left to plan. You teach us that time must be made for focusing on your big plans for your business.
Thanks for offering such great value.
Dave and Dawn
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Hi Scott
Thanks for sharing.
Starting with the end in mind, and starting to work from where you are – is not a very easy process. You sometimes get lost somewhere in the middle
I have found business planning a very tedious(when it comes down to getting the figures right), but a very creative and enjoyable process. I often start with a plan, but find myself working a different one, like today I have to get back my plan to check out figures I set out to achieve in the beginning.
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Hey Scott I know I’ve commented on this post before but I seem to be attracted to it again and now I see why because I’ve got something to add. While i believe business plans are very important I also believe that visualizing those plans as being completed is just as important. Feel as if you’ve accomplished those plans.
Michael
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