Stephen Tucker Unpacks How to Effectively Achieve Your 2020 Business Goals
Drafting these notes in mid-December, it is hard to think past the season of goodwill or, as I think we could more accurately describe it, the season of overindulgence; it’s only once a year and the kids love it, so really I should not be such a humbug.
Do you write or have you ever received a newsletter from friends, either immediate or a little more remote? They tend to document the story of that friend’s year: where they have been, who has done what, minor and major achievements, etc. You know the sort of thing, I’m sure. I just wonder if it would be worth putting pen to paper and writing something similar for your business. What happened last January? When did you sign up those new clients? How did the annual staff party go and what did the financial picture look like? Was it what you expected or targeted? Answer honestly, and consider the disappointments or missed opportunities.
It’s a powerful tool to commit a few things to paper. Obviously, these are your reflections so consider asking a colleague, client or friend to read them and add to them as they might have a different take on the year. You might find you are too hard on yourself or perhaps denying one or two painful truths. Either way, you have documented your year rather like a school report; a mix of praise and gentle encouragement of ‘could do better’.
Now, here comes the real challenge…
I have never been keen on five-year business plans as things change so often it’s difficult to imagine a sustained effort remaining unaltered for so long. However, some strategy is essential.
Can I challenge you to my 7/30/365 plan? It’s very simple. Set yourself a target for 2020, limiting yourself to just three reasonably attainable items.
Then list the broad activities you might need to achieve it: new staff, a website update, client events, newsletters, revised investment strategy, technology, marketing, finance, etc. – the list of possible challenges is endless.
Starting now, set yourself a specific activity for each month of this year, ideally targets that will help you hit the year’s three targets you set yourself. Perhaps a monthly client newsletter starting in January, a client social event in July, a new employee taken on before say Easter etc.
Now, thinking only of the first four weeks, set yourself four activities for that month. By this point, you should be down to very specific and probably not very time-demanding jobs. Knocking off one a week will be easy and, in a month or two, you will be powering through and seeing meaningful results.
Then, when you come to write your reflections at the end of the year, I would expect you to be scribbling far more positively with a noticeable improvement in your business or lifestyle – and I wish you every success.
Stephen Tucker is a global leader in the financial services industry who managed to steer a large firm out of the ashes of the UK financial crisis into the massively successful business it is today. Successfully retired at the early age of 58, during a webinar in November 2019 Stephen shared exactly how he navigated the rough waters to ensure the success of The Fry Group now with assets under advice of £1.6billion. Missed out? Subscribe now to be the first to know about our upcoming webinars.