Being a business owner requires wearing many hats. Trying to keep up with competing priorities can make it easy to feel like you are underwater. Taking time for strategic planning can often fall by the wayside.
But we all know the age old expression. Failing to plan is planning to fail.
So where can you begin with your strategic planning to ensure you are maximizing the little time you have available?
Geno Wickman’s Traction will be an excellent starting point.
I was introduced to Traction through Michael Kitces’s great podcast episode with Josh Patrick.
Successful businesses operate with a crystal clear vision that is shared by everyone. They have the right people in the right seats. They have a pulse on their operations by watching and managing a handful of numbers on a weekly basis. They identify and solve issues promptly in an open and honest environment. They document their processes and ensure they are followed by everyone. They establish priorities for each employee and ensure that a high level of trust, communication, and accountability exists on each team.
Traction is packed with excellent, actionable ideas that compliment many of the strategies I work on with business owners in an outsourced CFO capacity.
Wickman’s Traction, accomplishes the difficult job of providing actionable ideas for both long-term planning as well as daily execution. While many books keep advice high-level, Traction provides insights that any owner will be able to implement to improve their processes.
I for one am extremely excited to incorporate the many valuable lessons into my own processes.
Whether you’re the CEO of a business or your personal finances, how are you setting yourself up for success?
I’d love to help you gain Traction.
And if you aren’t ready for one on one consulting but feel like you’ll benefit from more hands on guidance with launching and scaling your business, be sure to check out our course Turning Your Idea Into Income: The 10 Series Course to Starting and Scaling Your Business.