A publication of EvCC's Corporate & Continuing Education Center.
What's in your way?
Analyzing and dealing with obstacles
In the
Small Business Accelerator and
CEO Roundtable programs at Everett Community College, members are consistently working on building their companies. Priorities often focus on growing the businesses by double digit annual rates and substantially improving performance and profitability.
There are many techniques entrepreneurs use for planning and tracking progress. They usually start with a long term vision or picture of what the company is to become. Financial targets are identified for the current year and for some period in the future, say five years. Goals or priorities are set for the short term and the long term. Ideally, these and other details go into a written business plan which guides company actions.
The priorities and financial targets become milestones against which progress can be measured. Follow-up is done through regular disciplined review. If adjustments are required, the management team is alerted to the need by this review and has time to take action.
While the process usually works well, there are times when companies find themselves stuck and unable to move forward. Things that worked before, aren't working now. What's wrong? What happened? Or perhaps the better question is, "What's the obstacle that's got in the way?"
About the author: Travis Snider is a business coach and the lead instructor for EvCC's Small Business Accelerator and CEO Roundtable programs. For more information or to sign up email [email protected].
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