If you are reading this, you are most likely a hard-working, growth-minded business person committed to optimal performance. That being said, you probably also bought into the idea that the economy and your business will perform at an optimal level forever. You may have even forgotten how bad the economy was – and how low your bottom line sagged – from 2008 through 2011. But it’s important to keep in mind that business is cyclical.
The recent hiccup in the stock market gave us a much-needed reminder that we should re-evaluate our business plan and how we are preparing for the future. Specifically, it reminds us to re-evaluate our business plans over the next 12 to 24 months and reverse engineer them into measurable 12 week/quarterly business plans that we attack in earnest. Economic volatility in China reminds us that we must do a few key things today to ensure our business, pipeline and livelihood stay intact for the future, regardless of what it brings. So, what can we do? Here are seven easy steps to take right now:
- Refresh your business plan, looking forward 12 months.
- Create a 12-week business plan and begin moving your mindset to 12-week or quarterly business plans that are more measurable and achievable.
- Review your business plan every morning and every night. Stay on top of your plan, and alter it as needed.
- Spend every Sunday reviewing your performance during the week, month and quarter.
- Whatever level of business development you are doing, double it.
- Create a list of everyone you have ever closed a deal with and call them all within the next two weeks.
- Never go one month without talking to your closed clients or your top 30 clients.
There are still plenty of opportunities to seize, if you work diligently and remain on top of the trends shaping your business and the economy. Take advantage of still-strong market conditions and crush it while strong headwinds are still blowing our way!