TO SAVE AND RESUME LATER, SCROLL TO THE BOTTOM OF THE FORM Please enable JavaScript in your browser to complete this form. - Step 1 of 5STEP 1 Name *FirstLastEmail *Current State of My Business What is the current state of your business? In what areas is your business thriving and in what areas is it just surviving? For each major area of your business, use the boxes below to jot down your thoughts. Write down as much detail as possible. As thought starters, How do you spend a typical day in your business? How does your staff and management team carry out their daily tasks? What current resources do they utilize to carry out their daily tasks? Are the current resources sufficient for them to carry out their tasks effectively and efficiently? LEADERSHIP (MYSELF)STAFFFINANCESMARKETINGOPERATIONS (Policies, Procedures, and Systems)EQUIPMENT / TECHNOLOGYNextSave and Resume LaterSTEP 2 My Next Level Business There are five stages of business growth. They are existence, survival, success (disengagement/growth), take-off, and resource maturity. As you read through the different stages, you will be able to easily identify what stage your business is currently at. It is more important that you utilize this exercise to think about what is the future stage you envision your business to achieve. Every item of each stage may not be applicable to your business. Choose the desired stage that best fits your business vision. Once you determine the future stage, check the boxes for the items that you would like to work on. For instance, if you would like to move from the survival stage to success stage, you may need to decide on a business strategy or create systems for your business. Those items that you checked can serve as a reference point to develop goals and action steps in Step 4. Existence Business characteristicsGrowth Achieved Through CreativityOpen to Crises of LeadershipOwner and Business are one and the same - owner does everything, business places a lot of demand on owner’s time and financesOwner directly supervises subordinates (if any)Difficulty obtaining customers and delivering product or serviceNo formal systems or planning in placeMajor strategy is existenceSurvival Business characteristicsDemonstrated it’s a viable businessGrowth achieved through directionOpen to crises of autonomy - business owner is still synonymous with the businessMinimal systems in placeMajor strategy is survival. Minimal planning.Limited number of employees with minimal supervisorsMay grow in size and profitability or stay in survival stage (earning marginal returns on invested time and capital)Success - Disengagement / Growth Business characteristicsGrowth achieved through delegationOpen to crises of controlBusiness owner must decide on exploiting company’s accomplishments and expand or keeping business stable and profitableBusiness owner may partially or completely disengage from companyManagement style is functional. Functional managers can take over certain duties performed by business ownerProfessional staff members come on boardFormal Systems are developing such as financial, marketing, and productionMajor strategy is either maintaining profitable status quo or acquiring resources for growthStrategy is monitoredTake-off Business characteristicsGrowth achieved through coordinationOpen to crises of bureaucracyKey issues are rapid growth and how to finance growthKey systems are becoming more refined and extensiveBusiness owner and business have become separateBusiness is still dominated by owner’s presence and stock-controlIf business owner is unable to navigate significant growth, he/she may be replaced by investors or creditorsManagement style is divisionalCompetent management staff is in placeBoth operational and strategic planning are being doneMajor strategy is growthResource Maturity Business characteristicsGrowth achieved through collaborationOpen to various forms of crisesUse of tools such as budgets, strategic planning, management by objectives, and standard cost systems must be professionalizedDetailed operational and strategic planning are in placeOwner and business are separate financially and operationallyHas advantages of size, financial resources, and managerial talentMajor strategy is return on investmentSource: Churchill & Lewis, The Five Stages of Small Business Growth, Harvard Business Review PreviousNextSave and Resume LaterSTEP 3 My Three-Year Vision How do you envision your business three years from now? What business stage will your business have achieved? What new business characteristics will your business have acquired? What new characteristics and/or management style would you have acquired as the business owner and leader of your organization? Write down as much detail as possible. Also, take this opportunity to envision your personal vision as well for yourself, family and friends, and your community. What would more time, money, freedom, and impact look like? How can your business be leveraged as a tool to successfully fulfill your personal vision as well as your business vision? Write down what each key area will look like in three years. The questions in each area are not comprehensive, just thought starters to get your creative juices flowing. Business Vision: LEADERSHIP (MYSELF) (What major business strategy will I be employing? How involved will I be in the business? How much time will I be working in the business?) STAFF (How many full-time and part-time staff will I have?)FINANCES (What will my annual revenue be, what will my net profit be, will I need outside capital to fund growth? If so, what type of capital will I be seeking?)MARKETING (What new products/services will I be offering, Will I be entering new market(s)? If so, what are they? Who is my ideal customer(s)?)OPERATIONS (What policies, procedures, and systems will my business have in place?)TECHNOLOGY (What physical equipment and/or computer technology is needed?)Personal Vision: MyselfFamily & FriendsCommunityVision Gaps A. List the gaps between your three year vision and where your business is today.B. What changes will you have to make in the way you operate your business today to reach your three-year vision?PreviousNextSave and Resume LaterSTEP 4 My “Game Plan” Here is where the rubber meets the road! In order for your vision to materialize, you must create a “gameplan.” Establish business goals for key areas of your business such as: Leadership, Human Resources (staff), Finances, Marketing, Operations (Policies & Procedures, Systems, and etc.) and Equipment/Technology. Things to Consider: What internal resources do you need, such as delegating new tasks to your staff or hiring for a new position? What external resources do you need, such as retaining professional services (e.g., an accountant, attorney, marketing consultant), a coach, a mentor, or strategic partners (e.g., a joint venture, partner). What will achieving your goal cost? Itemize the financial costs, for example, operational costs and/or mobilization costs for a new contract. Once you complete your goals, prioritize them by importance. It’s okay if you have multiple goals for a particular area or not have any goals for other areas. Remember, this is YOUR “gameplan.” What is your audacious goal(s)? Remember to keep it SMART. Please note goal listed in the SMART goal acronym is an example. S – Specific. Make your goals specific and focused. “I want to increase my annual revenue by 25% by the end of 202X.” M – Measurable. Use data and evidence to mark progress and re-evaluate as needed. Examine your quarterly revenue to gauge if you are on track to achieve 25% growth by the end of the year. A – Attainable. Ensure you can accomplish your goal in the timeframe you set. Ensure your growth goal is feasible. Doubling your revenue may not be attainable, however, increasing by 25% could be ambitious and still achievable. R – Relevant. Align your 202X revenue goal to your company’s overall strategic plan. T – Time. Set a realistic, yet ambitious, deadline to keep yourself motivated. “I will reach my revenue goal no later than December 31, 202X.” LEADERSHIP (MYSELF) (Goal(s), action step(s), cost(s), deadline(s), and responsible party(s), resources.) STAFF (Goal(s), action step(s), cost(s), deadline(s), and responsible party(s), resources.)FINANCES (Goal(s), action step(s), cost(s), deadline(s), and responsible party(s), resources.)MARKETING (Goal(s), action step(s), cost(s), deadline(s), and responsible party(s), resources.)OPERATIONS (Goal(s), action step(s), cost(s), deadline(s), and responsible party(s), resources.) EQUIPMENT / TECHNOLOGY (Goal(s), action step(s), cost(s), deadline(s), and responsible party(s), resources.)PreviousNextSave and Resume LaterSTEP 5 Immediate Action Steps and my “Lightbulb” Moment(s) The goals and action steps identified in Step 4: My “Game Plan” will help you move your business forward to achieve the future stage of you envision for your business. One critical final action is needed. Select three action steps for immediate implementation. List three critical actions you can accomplish (or at least get started on) immediately:My “Lightbulb” moment(s) What “Lightbulb” moments did you have while spending time working on your business?PreviousSubmitSave and Resume Later Your form entry has been saved and a unique link has been created which you can access to resume this form. Enter your email address to receive the link via email. Alternatively, you can copy and save the link below. Please note, this link should not be shared and will expire in 30 days, afterwards your form entry will be deleted. Copy Link Email * Send Link