There are lots of strategies when it comes to long-term planning for a business. From goal setting to mission statements to key performance indicators, there are a number of critical steps along the journey. But the one critical character trait is required to make these steps worthwhile. And that’s honesty.
Any good business realignment or shift starts with an honest assessment of your capabilities, competitor competency and industry transition. Leadership training guru, John Maxwell, has a famous saying, “Experience isn’t the best teacher, evaluated experience is.” Any good evaluation starts with the right question and an honest assessment of your true strengths and weaknesses. This can be hard to hear, and even more difficult to accept.
For many companies, they never get to the truth because employees are too scared to say what they really think. They are worried that the employer will fire them or take corrective, punitive measures. Or they just think they will be ignored because they have subtly mentioned those issues in the past, and their suggestions were quickly forgotten.
Some company leaders only want to hear the positive when the negative can clarify glaring weaknesses and areas for growth. If our egos are so fragile that we can’t take any constructive criticism, we should really stop and evaluate if we have built our self-image in unhealthy ways.
Take heart. I am not preaching at you. I am talking to myself first. We are currently evaluating a number of things about our business, and if I am honest, being honest is one of the toughest things about this journey. I know a lot of the areas that need improvement. Sometimes I am the obstacle standing in the way. Other times it is institutional mindsets that me and others have allowed to creep into the work culture. So, this year, as I face into 2023, I am asking some tough questions, first of myself. And I invite you to come along for the ride.
These questions can cut like a knife. But they can also heal a long-lasting wound too. My favorite leader of all time, Jesus, preferred to teach and guide by asking questions. What questions are guiding your process as you evaluate the next year and the next five years?
Below are some questions that you may want to consider and some context to make your answers come alive. I would love to hear more about the journey you are on. Feel free to shoot me an e-mail (chailleb@gmail.com) about what you are learning.
1.) Let’s start with an easy question. A softball toss that you will want to answer. What does your company do best or maybe even better than others? Why is this a competency that your business does so well? Sometimes it can be just as important to understand the why as the what. What strengths are critical for our success in the future?
2.) What are the greatest weaknesses for your company? This question identifies the areas you either need to work on or completely ignore. Some areas of weaknesses will never be strengths and aren’t really important. Those you can happily ignore to work on weaknesses or strengths.
3.) What is your greatest weakness as leader that can hold back the organization? This question is one where you need to seek professional accountability to help you improve over the coming year. Don’t try to tackle multiple things personally. Work on just one with all your free energy. This will enable you to make the most personal growth and turn a weakness into a proficiency if not a strength.
4.) What is the one person you need to hire the most to take your company to the next level? Create a job description for this person. Identify the type of qualities and characteristics that you would look for to find the person. Develop a return on investment profile to determine what this person would cost the company and how much he/she could benefit the bottom line. If you are brave, seek to find this person and fill this position even if it is a new one before May 2023.
5.) How is technology changing your industry? Are you a leader in this development or not? Why or why not? What can your company do to respond to this challenge? This could be software and date or automation and machinery. It could be new products or processes. Take a blank sheet of paper and dream for a bit. Draw or write out in words what you think the typical process or plant in your sector will look like in ten years.
6.) What is the greatest threat to your short-term future over the next five years? If you aren’t sure how to identify this one thing. Consider, what is the one thing that keeps you up and gives you nightmares at night?
7.) Talk to five different customers over the next week. Ask them how their needs are changing? Ask them how they are being evaluated and what you can do to make it easier for them to buy more in the future?
8.) Survey your workers. Ask them what is the one thing they do regularly that they think is waste of time. Then ask them what is one task they can start doing over the next year that will help the company make more money and develop better products? Take these responses as ques to help alleviate stresses and frustrations for workers. Empower those employees to tackle the things they most want to do if they show any promise to benefit the company. You might be surprised how that change in attitude can improve worker retention and per employee profitability. Another way to ask this question is, “Identify the common bottlenecks in your production process?”
9.) What is the vision you have for your company? How does that vision impact everything you do? Can everyone in the company recite this vision? What can you do as a leader to propel the vision to even the entry level worker? A vision is actually a story with individual plots and challenges and adventures. Top leaders are usually good with the vision, but they struggle with the detailed planning that requires linear thinking and focus.
10.) Roadblocks. Every good manager has tried to develop long-term plans. Many times, they fail and just get tossed in a drawer as the daily grind sucks up their time. Leaders have to schedule time to work on the future. If not, the future will run over you like a freight train. The key is to work on one thing at a time and set aside specific periods of time each week to move the goal ten yards down the field. How can you tackle these questions over the next three months? What specific schedule do you plan to implement to work on your business not just in it?
May these questions help shape your process over the next year. There is no time like the present to start. Are you willing to be honest? Can you see how this process can help you improve? Schedule some time this week to start or improve your business growth journey. It will take faith in what you are doing and honesty to pursue your best self.
