5 Stages to a Successful Business

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Stage 1 – VISIONING (WHY)


It is often said, “We’d better pay attention to the future, because that’s where we’re going to spend the rest of our lives.” Business success starts with creating a foundation. The foundation for success starts with having a clear picture of where the business is going and what the end result looks like. The VISION STATEMENT is a description of what the business is to become. A well written and thought out VISION STATEMENT captures the passion and purpose of the business owner.



Stage 2 – STRATEGIC THINKING AND PLANNING (Why)

Strategic thinking is defined as the process that determines the future direction of a business. Strategic thinking addresses all aspects and resources available to the business. Its foundation is a strategic thinking process; its conclusion is a logical and well thought out plan that, when implemented, will ensure your success.



Stage 3 – BUSINESS PLANNING (How)

Business planning actualizes the strategic plan. During this phase of the process, your mission is crystallized into specific goal categories. The goal categories become actionable through goals and action steps. In larger businesses each segment or department will have a mission and business plan which contributes to the overall businesses plan. The Mission Statement of the business is normally included here. A Mission Statement is normally a twelve to eighteen month goal that propels the business toward the ultimate achievement of its Vision.



Stage 4 – IMPLEMENTING THE PLANS (How)

Success will ultimately depend on action. The most compelling vision and well thought out planning process will not result in success without action steps that are measureable. Add time frames for the action steps to get accomplished with accountability assigned to particular individual(s) and implementation can be accomplished.



Stage 5 REVIEW AND CONTINUOUS IMPROVEMENT (How)

Measurement is crucial if you are to gauge progress and manage a business. Creating a dashboard for the communication of goals and objectives is critical for measurement to take place. There is always something you can do to gain control over every situation. There is always something you can learn to get better. Your business should and will change due to growth. You must change with it. Continuous improvement of your processes, strategies and people will allow you to achieve success!



Success – the continual achievement of your predetermined goals, stabilized by balance and purified by belief.

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