As you look forward to the coming year you’re probably starting to think about revisiting your strategic planning. That’s great thinking! But if you really want to grow your business it’s important that your strategic planning be driven by big goals. What are the things that help you determine and drive your big goals?
Here are three things that can help you steer a course to growth and success.
- PURSUING PASSION If you want something to really drive your business, you want to be doing something you’re passionate about. This should be something bigger than making a living—or even making a lot of money. You need to have something that pushes you even when you’re tired and frustrated. This will be reflected in your core purpose. This is the thing that you can’t walk away from no matter what else happens. If you don’t really care about what you’re doing, you probably won’t do it for long.
- DEVELOPING DOMINANT EXPERTISE The world is full of “me too” businesses and products and services. To be honest, there’s nothing wrong with doing something that others are doing. It’s a big market. But if you can do it better than anyone else—that’s special. It becomes your brand promise. There are quite a number of companies making electric cars right now, but does anyone do it better than Tesla? Not yet.
- FUELING YOUR ECONOMIC ENGINE Of course, passion and expertise alone don’t pay the bills. If you lose money on every widget you make it doesn’t matter how passionate you are—you won’t be around for long—even if it’s the finest widget the world has ever seen. You do need to be engaged in something that fuels your economic engine. You’ll want to produce products or services that generate a certain “profit per occurrence.”
When you bring those three “drivers” together, their intersection gives you a “sweet spot” that can drive your success. It looks a little something like this.
What’s your passion? What’s your area of expertise? What’s the profitability of what you have planned? Those should be three of the big drivers for the goals you set for your business.