Are you living up to your promises?

Dig out your mission & vision statements and re-read them, would you?

They are promises you made to yourself and the team.

Are you following the dream, or doing just enough to get by?

It’s all too easy to get dragged into the trenches of dealing with the day to day hassle and that can easily take you way from the path you set out to follow. That happens to all of us!

Getting back on track starts with the recognition that you were off track to begin with. Review your plan / budget against the mission and vision – are your actions in the short term taking you towards the long-term goal, just holding your ground or at worst taking you away from your goal?

I’m a great fan of a rolling four quarterly plan and budget.

It’s a methodology that requires you to review the plan at least once a quarter and update it – so you can’t create the annual plan and just leave it in the drawer until the year is done!

It prevents you from saying “Oh well, that was our estimate 9 months ago so it doesn’t matter” as you have reviewed an updated that forecast at least 3 times.

It avoids the cliff, where something is happening just after year end. The annual plan finishes at year end; this event is a moth or so later but it’s not in the plan – and won’t be recognised until the new planning cycle kicks off.  One business I worked with had a royalty payment due in the January; the plans and forecasts finished in Dec and it was not until we started the plan for the new year that it became apparent our cashflow was insufficient!

It avoids a massive planning session that everyone hates. You are planning once a quarter – updating the next 9 months and adding on another 3 – so that it becomes routine.

In the quarterly review sessions, have the mission & vision to hand. That will help keep them in mind and make sure you are staying on track.