Wednesday, October 13, 2010

Long-Term Results

Blink:
Long-term results are mainly determined by short-term decisions, plus practicing patience and fortitude.

Read On:
As a Business Catalyst that strives to make things happen, I get to work with clients on a wide range of projects – new product introductions, strategic alliances, buzz marketing movements, etc. The one area I enjoy the most is strategic planning, especially now that I have been afforded the opportunity to work with companies that are beginning to formulate their plans as it relates to the new world of social media. The part I like the most about strategic planning is not just the overall process, but providing recommendations that each client then reviews and makes appropriate decisions that will impact their business. As I stated above, once these short-term decisions are made, if a company practices patience and fortitude, long-term results will follow.

I do not choose to write a lengthy blog about the strategic planning process to which my company subscribes. I respect that every company has a process that works best for their needs. Instead, I would like to share five rules that I utilize when developing business plans. They are the following:

Rule One – Do not over process. Remember, you still have customers to service.

Rule Two – Be focused during the planning process. Establish realistic measures.

Rule Three – Execute the plan. Otherwise it will end up on the shelf and gather dust.

Rule Four – Be flexible. “Nothing endures but change.” – Heraclitus

Rule Five – Don’t fear failure. Expect it! Learn from it!

It is time to make those key short-term decisions.

4 comments:

  1. Jimmy,

    Some thoughts:
    1. Execution is key. Failure to execute well with adequate resources dooms most plans, both long and short term.
    2. "The only constant is change." Being able to adjust/learn from what occurs during the execution provides the path to success.
    3. Don't become obsessive about the short term tactical programs. Our recent economic condition was facilitated by an industry focused on quarterly results. Look at least 2-3 years out.

    Bob

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  2. Well said, Jim. I'd like to add that strategic planning for social media marketing often works well and goes more smoothly in a team environment when an Online Marketing Action Plan ( we call it the O.Map)is part of the mix. Like a calendar, the Action Plan tells, shows and reminds, in black and white, which social media activities are scheduled to be completed each day of the week. Social media marketing can include so many different, often unfamiliar, tasks, some of them time-consuming...and yet, consistency is key to building a strong brand. The O.Map is very felxible as needs and plans changes, and keeps every team member on board, in the loop, on the right track...wherever it is your team congregates!

    There are a number of different versions of Action Plan Calendars floating around, or you can create your own. If the O.Map is of interest, please don't hesitate to contact me.

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  3. Bob:

    I also sent you an individual response. You short term comment is spot on. I will be addressing a company in my next blog that continually looks a decade out.

    Victoria:

    Excellent point. In addition to what you are suggesting, I have fielded a survey with one of my clients to get a better understanding of their staff's sm skills. I do not want to take it for granted everyone is up to speed at the same level or nothing will end up getting executed on a timely basis. Only those truly comfortable with the new platforms like yourself appear to remain committed to social media.

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  4. Just one thought regarding Rule 5: I believe we learn more from mistakes (failure) than success. When something goes wrong, we analyze and try to correct to hopefully not repeat the same mistake. We learn and grow from the experience. With success, we are probably not as introspective.

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