I've worked with two businesses that, I have little doubt, will soon close. Both principals / ownwes insist that, by simply opening their doors, their businesses will succeed.
In my consulting practice, I insist that my clients develop a plan to grow their business, a plan that includes revenue targets, financial obligations, and various metrics for success. We regularly revisit these plans to see how we're doing and to consider how we can do better.
When I worked at a large law firm, senior attorneys would draft annual “plans:” lofty goals about new areas of law in which they would practice in the coming year. Following a rousing round of backslapping at the next practice group meeting, those alleged "business plans" were lost in desk drawers for another 50 weeks. No one held those attorneys to their business development goals. Subsequently, many of those attorneys still lack clients and must still service a rainmaker.
In contrast, I look at how Magna Legal Services has exploded in the last ten years, starting with providing the best court reporting and legal technology for depositions anywhere in the country. Now, they provide end-to-end legal assistance to law firms, corporations, and governments, whether in the court room or board room. They had a plan (still do) and are constantly adjusting their goals upward!
Where's your business this summer? How's your plan? Let's find 20-30 minutes to chat (no cost) this week to talk about it.