Here are six tips to avoid being a
casualty:
1. Declare
how big you want to be in 24 months and use this revenue goal to develop your
game plan. Why 24 months? Because if you are to survive for two years
while others die, you need to keep your eye on execution and the short-term
results of your efforts. It makes no sense to waste your time on a five-year
plan, for example, since the latter years may not matter if your short-term
efforts fail.
2. Choose
who you intend to serve. Where will you generate your revenue? Choose
customers who have the potential to deliver the growth you want and be specific
in your selection. Look for discrete groups of people who you believe want the
value you provide. I always guide people to go after the ‘fast and easy’
customers since survival depends on how fast you ramp up sales. You can’t
afford a six-month selling cycle in a 24-month game plan.
3. Determine
how you intend to compete and win by answering the killer question: “Why should
I buy from you and not your competitor?” This is where most businesses
choke. You need to be clear and specific on how you are different than your
competition. If you can’t answer the question, you will be judged as essentially
the same as everyone else and will be invisible to the customers you’re
targeting. The only statement is the claim that will distinguish your business
from the herd: “We’re the only ones who...”
4. Focus
on the critical few, not the possible many. You don’t have unlimited
bandwidth and resources to do it all. Pick three things that you believe will
help you drive your game plan forward and do them quickly. Many entrepreneurs
fail because they are mesmerized by possibilities and try to achieve too much. Keep
your to-do list short and get stuff done.
5. Cut
the crap. Your game plan is as much about stopping things as it is about
starting things. You can’t afford to continue activities that are not
directly related to executing your game plan. Take an inventory of all the
tasks you have on the go. Create a cut list of all the things you are now doing
that should be stopped, and a keep list of the things you should continue to do
as strong game plan contributors.
6. Plan
on the run. Stay loose on your game plan – it’s not carved in stone. Be
open to tweaking it based on what you discover and learn through execution. No
plan ever turns out the way you intended; there are too many unforeseen
variables at play. Plan, execute, learn, adjust, execute, learn, adjust is the
planning model that works in a volatile world.
Final word: don’t get mesmerized by
your long-term potential. Focus on the next 24 months; earn the right to stay
in business longer.
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