What are your success plans for 2011?
Now that 2010 has switched around from the windshield of our business to the rear-view mirror, let’s take stock of what the year hath wrought. As my friend and the world’s leading expert on business planning, Tim Berry, would say, “Plan vs actual;” compare what you thought you would do – your plan – with what happened.
Your plan could have been as simple as “I plan to survive 2010.” If you’re still in business, congratulations. Or, anticipating limited revenue growth, you may have projected increased profits through expense cuts and finding efficiencies. How’d you do?
Recently, I asked my online and radio audience to answer this question: How did 2010 turn out for your business? Here are the results:
Many small businesses are still trying to shake the negative effects of the Great Recession, including 21% who said they were barely able to eke out a better 2010 than 2009. Sadly, a few more, 26%, reported they had yet to experience signs of a recovery. But a little more than half of our respondents were positive about 2010, with four-of-ten saying they had a good year and 12% actually reporting a record year.
If you’re among those still struggling, here’s an idea: Identify a peer in your industry who is doing better than you and find out what they know, are doing, or what they have that you don’t. It’s times like these when being part of an industry trade group community turns any associated expense into an investment. And if admitting out loud that you don’t have all the answers is uncomfortable, remember the lesson from Proverbs 16:18, “Pride goeth before destruction...” They don’t call it “wisdom literature” for nothing.
Tough love alert! As we stand here at this moment, more than 18 months following the technical end of the Great Recession, every day without positive performance by your business puts the cause farther from the external and closer to internal. “Internal” means the effectiveness of your organization, product array, marketing plan, etc., and especially the CEO’s performance - that’s you.
If you’re among the last two groups who were more successful in 2010, congratulations; you’re doing something right. But don’t rest on your laurels or unbuckle your seatbelt. There are still plenty of marketplace mines in the macro-economy you could step on.
Remember the letter I have used to describe this recovery: M, for marathon.
Write this on a rock ... This recovery race requires discipline, planning and incremental execution – one deliberate step at a time. You can do it!
Jim Blasingame is creator and host of the Small Business Advocate Show.
Copyright 2011, author retains ownership. All Rights Reserved.
