Are you “Driving” or “Coasting” in your business?
Will we ever stop driving in our business and one day be able to coast and enjoy? Let me clarify my version of the difference between “driving” and “coasting”.
Setting quarterly goals that align with a larger 3-year vision and 1-year goals. Then, taking strategically directed actions towards these quarterly goals on a weekly and daily basis. Measuring everything that is critical to the company’s success while making the necessary adjustments to the team and operations from the metrics. By doing this you, are forcing and focusing your team to never get comfortable or satisfied with the status quo. You will be in constant action, refining the marketing plan, improving the sales process, training and developing your team while improving processes and systems. As a result, the business will likely be in a constant state of growth, therefore, forcing your hand to continually add more great people to your team.
Doing very little of setting goals, although you may have a longer-term vision and shorter-term goals that you’d like to achieve. These thoughts of your vision and goals are likely not shared with the entire team. Everyone is busy with their daily grind focusing on the usual jobs that need to get done. In fact, coasting can often feel like driving, but in reality, you are stuck on the Hamster Wheel of your business and not moving forward towards any clear goals. Coasting can include going full out at times, however, this does not mean you are driving. Busy is often confused with being effective, productive and/or efficient. Busy is rarely ever confused with being strategic. Coasting in general terms is getting the day to day work done with no focus or strategy for growth with an action plan for making it happen.
After defining the above let me ask you the title question again, “Are you driving or coasting your business?” The answer should be clear. In some or even most cases, the answer is “Both, we try to drive but get too busy to stay focused on driving. So, we get back on the hamster wheel finding it extremely difficult to get off it again and back to driving.”
If this answer resonates with you, you are not alone. If I were to guess, I’d say 96% of businesses have this same answer and struggle in their business. Frighteningly it corresponds exactly to the percentage of businesses that don’t make it past 10 years. Just because you are not alone, does not make this ok to continue. Business growth can create freedom for the entrepreneur as a result of driving. Driving forces strategic thinking to create the right actions for ultimate success and the fulfillment of grand visions accompanied by desired income levels and lifestyles.
After careful thought, I feel strongly that my immediate answer still stands as being correct. I do realize, however, that you as an entrepreneur may and hopefully will get to a point when you can remove yourself from the day to day grind. You may at that point no longer want to “drive” the business, but the business still needs to be driven. You must set up the structure, system, and leadership for it to continue happening without you. Your business will go stagnant and likely die if you stop driving over a sustained period of time.
If you want help setting up the structure and system for strategically driving your business with clarity and clear-cut direction, please reach out to. Check out our website www.4levelcoach.com/learnmore to see how we can help you get there!