Strategic-Planning
Why the Business Dashboard in Your Strategic Plan Does Not Include Cruise Control
The strategic plan in today's competitive marketplace includes a new tool ? the business dashboard. Much like the dashboard of a car, this tool provides daily monitoring of the key performance indicators for the business. These key performance indicators keep the business not only going in the right direction, but also staying on the map or the plan for achieving the various business goals for the current trip (mission).
During a recent semi-private executive coaching sessions with 4 small business owners in non-competing industries, one of the business owners, Phylis, who had been in business the longest made the following statement: Now, I understand why your dashboard does not include cruise control. This particular business owner had been so involved in working in her interior design business that she had definitely been on cruise control. Now, having completed an executable strategic plan, she realized that implementation of this plan to take her business to the next level does not include cruise control.
With many business owners, including these 4 small business owners, spending most if not all of their time working in the business instead of ON the business, the dashboard provides a quick way to ascertain whether the business is ON track to achieving its current goals. When business owners or entrepreneurs and even senior management become focused on working in the day to day operations of the business, the key goals within the strategic plan sometimes get lost and performance suffers.
The business dashboard is different for each company, but what is the same is that all five to seven performance indicators reflect the critical success factors and will immediately alert the driver whether a business owner or department executive when performance begins to suffer or is in critical area that requires immediate attention.. Just like the warning light for the fuel gauge, battery or engine, the end result is that instantaneous action needs to be taken or the business may experience significant performance issues.
If your business has a strategic plan and includes the dashboard, then you may wish to heed the words of this very wise businesswoman: Your dashboard does not include cruise control!
Leanne Hoagland-Smith quickly doubles results for her clients from individuals (small businesses owners, entrepreneurs and young people) to large organizations by creating executable strategic action plans along with the necessary business skills to pull it off. By closing the gap between today's unsatisfactory performance to tomorrow's goals, limited resources are maximized with waste including time being reduced. Please feel free to contact Leanne at 219.759.5601 or visit http://www.processspecialist.com/ and explore how she can help you. One quick question,if you could secure one new client or breakthrough that one roadbloack holding you back from success, what would that mean to you? Then, take a risk and give a call at 219.759.5601 to experience incredible results. Mention that you read this article and receive a complimentary 60 minute coaching session. P.S. If you are seeking an affordable speaker for that special event, Leanne may help fit your current speaking need. |
Leanne Hoagland-Smith
Tags: Strategic plan, business dashboard, executive coaching, key performance indicator, critical success goalSimilar articles
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