See yourself as a valuable asset

The only asset of any value throughout your entire life is you 

Try thinking about it this way

The most valuable asset you own is the present value of your future earnings. But here’s the problem: Despite what your spouse may tell you, the investment called you is getting less valuable with every year that passes.

Something called age creeps in and other people’s problems that end up knocking you off track stops you achieving those life time goals.

Asset depreciation is real – read the points below 

  1. Brain fog 
  2. Age related illnesses 
  3. Joint pains 
  4. inflamation

So every one of us faces a race against time and we are all trying to Make more money each year. But rather than being satisfied with just the annual cost-of-living adjustment, look for ways to increase your value where you work. Pick up new skills. Take extra classes and projects that no one wants. Don’t settle for doing just enough.

Assets have value and the aim is to increase that value and become the subject matter expert in your chosen field of expertise.

Asset Value

This is a totally new age where you can find out any information on the subject you specialise in whenever you like. Google is your best friend and should be propelling you into a valuable commodity.

I wrote a short book on the concept of time and how we can utilise every hour we are awake. The book is a wake up call for people who don’t understand time management

Our working lifespan 

Make your working window longer. Look, I know most of us really like the idea of retiring but it’s a myth. Most people don’t simply work their guts out until 60, then suddenly pull that plug and put on the slippers. People are living longer, and you might be facing a very boring 20 or 30 years without work.

You can only watch so many crap films on Netflix’s

Instead, most people find they still want to be doing something. Contributing value to the world. Working. So plan on it (and invest in your health too, so you’ll still be physically capable of working).

Poor diet can easily lead to a shortened lifespan and the main killer is inflammation that will slow you down and over time grind you to a holt. How are you supposed to be at the top of your game with a body riddled with inflammation and a brain that can’t retain memory.

Remember the body is only a vessel to get us through life so if you abuse it then at some point its inevitable life will be cut short. The gift of life is a one-way ticket towards the grave, it’s what you do in between that counts. At some point we are all going to be a memory inside someone else’s head so make that experience an enjoyable one for them.

I look at people now spending hours staring at social media posts where so-called friends have posted the 35thupdate for the day about what the kids are doing. That’s great if you really want to coast through life or continually be amazed by someone else’s life.

But isn’t this about you and the journey you are on?

I look at someone like Elon Musk who is the ultimate role model because this man has completely nailed the concept of time management and if you study his early years, you will see he is self-taught in a lot of the skills he has developed throughout his years.

His brain has not declined throughout the years he has been in business and he has also maintained a level of fitness even though Elon is responsible for three of the biggest performing businesses in the world.

That is Asset Value taken to the highest level 

So, let’s conclude 

  • Time is the most valuable thing on this planet to you 
  • Health has to be the number one priority 
  • The brain is a hard drive with endless storage capability so use it to the max

To really digest this post and get the ship back on course, read it every day for 1 week 

By Robert Burrus

Defining The Business Strategy

The 3 main fundamental areas for creating a business strategy 

1. Planning – Creating and tracking progress against an annual operating plan is an essential management tool for any business. What is often missing is the relationship these plans have to the future. Too often annual operating plans are created from the rear-view mirror. What happened last year and where should we go in the coming year? These are all good intentions. However, without a clear picture of what you want the future to look like, it will always be more reactive than proactive. A well-articulated 3 year long term view of the company should serve to inform the annual operating plan. The annual plan then becomes the stepping stone toward the achievement of the longer term goals.

2. Strengths and Weaknesses – At first glance this seems too obvious and you are saying to yourself, “Of course we know what our strengths and weaknesses are!” We cannot disagree. No one knows your business better than you. On the other hand, are you leveraging strengths (competitive advantages) and do you have plans to close capability gaps in your organization (weaknesses)? Strategy creates a higher level of awareness and provides greater focus on activities that will make the organization more successful.

3. Skills & Knowledge – If you know where you want to take your business over the long term, you will have a much better idea of the kinds of capabilities you will need to achieve your goals. Strategy defines and drives decisions in organizational design. Therefore by proactively pursuing new skills and knowledge, you prepare the organization for the intended future state and your odds of success increase.

Think about this route

Strategy has many tools for improving businesses but I have focused on these 3 areas for military projects in the gulf, on highvalue construction projects and large companies that have lost direction and I have always achieved success when it comes to achieving client expectations.

It starts with understanding what you want out of the business, then it requires a sit-down with the business SMEs to set objectives which is the road map into success, and then most importantly the strategy around achieving each one of those objectives.

  • Top Tier sets the vision for the future
  • Senior Management sets objectives and defines strategy 
  • Top Tier sets timelines to achieve those objectives 
  • Progress meetings are set for monitoring purposes

Weekly progress meetings have to be set so you track deliverables and then people have to be made accountable or the business has no direction. This ends up being the most important meeting in the company as the ship is steered towards success.

https://train-for-business.com/product/business-strategy-process-overview/

By Robert Burrus

www.robertburrus.com

Reinvent Yourself or Stagnate

Look at how the world is changing in front of our eyes and how technology is moving at such a fast pace, so unless you move with it, unfortunately your career is over.

Use someone like Steve Jobs as an example 

He never started off being this amazing guest speaking where people would crowd into venues to watch this genius present a piece of technology that was years ahead of anything else. Steve Jobs had to learn and understand through the development stages so he could confidently present with extreme confidence.

People like Steve Jobs, Bill Gates and Elon Musk were introverts and they had to reinvent themselves in order to portray a high level of confidence so the public would listen to them because after all they were the face of the product that was sold all over the world.

The message is simple 

Adapt and move with the times so you stay ahead of the curve and generate a higher value to the company you support. Everyone is seen as an asset or as time moves on, a liability.

Assets make money for businesses 

Liabilities end up costing company’s money

Don’t fall into the liability bracket by stagnating and not adding value to the business. So I am going to suggest a simple tool to keep you ahead of the game and at the top of your career.

SWOT Analysis for Personal Development

Let’s review it 

What makes SWOT especially powerful is that, with a little thought, it can help you uncover opportunities that you would not otherwise have spotted. And by understanding your weaknesses, you can manage and eliminate threats that might otherwise hurt your ability to move forward. 

If you look at yourself using the SWOT framework, you can start to separate yourself from your peers, and further develop the specialized talents and abilities you need to advance your career and help you achieve your personal goals.

Strengths

  • What advantages do you have that others don’t have (for example, skills, certifications, education, or connections)?
  • What do you do better than anyone else
  • What personal resources can you access
  • What do other people (and your boss, in particular) see as your strengths
  • Which of your achievements are you most proud of
  • What values do you believe in that others fail to exhibit
  • Are you part of a network that no one else is involved in? If so, what connections do you have with influential people

Consider this from your own perspective, and from the point of view of the people around you. And don’t be modest or shy – be as objective as you can. Knowing and using your strengths can make you happier and more fulfilled at work

Weaknesses

  • What tasks do you usually avoid because you don’t feel confident doing them
  • What will the people around you see as your weaknesses
  • Are you completely confident in your education and skills training? If not, where are you weakest
  • What are your negative work habits (for example, are you often late, are you disorganized, do you have a short temper, or are you poor at handling stress)
  • Do you have personality traits that hold you back in your field? For instance, if you have to conduct meetings on a regular basis, a fear of public speaking would be a major weakness.

Again, consider this from a personal/internal perspective and an external perspective. Do other people see weaknesses that you don’t see? Do co-workers consistently outperform you in key areas? Be realistic – it’s best to face any unpleasant truths as soon as possible

Opportunities

  • What new technology can help you? Or can you get help from others or from people via the Internet
  • Is your industry growing? If so, how can you take advantage of the current market
  • Do you have a network of strategic contacts to help you, or offer good advice
  • What trends (management or otherwise) do you see in your company, and how can you take advantage of them
  • Are any of your competitors failing to do something important? If so, can you take advantage of their mistakes
  • Is there a need in your company or industry that no one is filling
  • Do your customers or vendors complain about something in your company? If so, could you create an opportunity by offering a solution

Also, importantly, look at your strengths, and ask yourself whether these open up any opportunities – and look at your weaknesses, and ask yourself whether you could open up opportunities by eliminating those weaknesses

Threats

  • What obstacles do you currently face at work
  • Are any of your colleagues competing with you for projects or roles
  • Is your job (or the demand for the things you do) changing
  • Does changing technology threaten your position
  • Could any of your weaknesses lead to threats

Performing this analysis will often provide key information – it can point out what needs to be done and put problems into perspective.

This will keep you moving forward

Information Security Management

ISO 27001  – Get compliant CLICK

Let’s look at the argument for implementation of the standard 

Running a business has a different level of risk now as compared to ten years ago and minimizing those risks have a lot to do with having a robust information security management system in place to support the management system.

The calm before the storm. You now have the General Data Protection Regulations, coming into force in the UK and the rest of Europe, the cyber threat landscape is becoming increasingly hostile and hazardous now.  In the midst of all that, businesses, small and large, are facing the growing threat of cyber-attacks that can impact a business in more ways than one, including:

  • Loss of customer trust,
  • Negatively impact the brand,
  • Causing material financial damage to the bottom line.
  • So you take the initiative and protect your business from the biggest facing companies now  – Cyber Crime 

You have to take ISO 27001 seriously now 

Companies that are awarded ISO 27001:2013 certification can claim that they:

  • Are taking appropriate control measures to protect confidential and privileged information.
  • Are following international best practices to mitigate cyber threats and have cyber incident response and management processes to respond to cyber attacks.
  • Have established a formal information risk management process and a functioning ISMS or Information Security Risk Management System.
  • Assuring customers and regulators that the business takes cyber security risks seriously.
  • Protecting and enhancing your brand reputation. 
  • Satisfying audit requirements by internal teams, customers and or regulators.  
  • Possibly realising financial savings in the long run (reduce expenditure on technology incidents, regulatory fines and non-compliance).

Think about this for one minute 

https://train-for-business.com/product/iso-27001-implementation-package/

Some of the biggest internal threats to a business ten years ago were things like stealing a little bit of intellectual property, rebranding it and taking it to the next company you end up working. 

Fast forward back to 2019 and you are one click away from infecting your entire IT infrastructure or leaving yourself exposed (under GDPR laws) to seriously large fines.

If you manage the risks involved and keep ahead of the curve you will not be one of these company that ends up being dissolved within two year. Stability and growth is what you will be looking at, as the competition fades away, you get stronger and become more profitable.

By Robert Burrus

www.robertburrus.com

strategy

A Business Strategy to Increase Turnover

Where is the business trying to get to in the long-term (direction) 
Which markets should a business compete in and what kind of activities are involvedin such markets
How can the business perform better than the competition in those markets
What resources (skills, assets, finance, relationships, technical competence, facilities)are required in order to be able to compete
What external, environmental factors affect the businesses’ ability to compete
What are the values and expectations of those who have power in and around the business  

Strategy at Different Levels of a Business

Strategies exist at several levels in any organisation – ranging from the overall business (or group of businesses) through to individuals working in it.

Corporate Strategy– is concerned with the overall purpose and scope of the business to meet stakeholder expectations. This is a crucial level since it is heavily influenced by investors in the business and acts to guide strategic decision-making throughout the business. Corporate strategy is often stated explicitly in a “mission statement”.

Business Unit Strategy – is concerned more with how a business competes successfully in a particular market. It concerns strategic decisions about choice of products, meeting needs of customers, gaining advantage over competitors, exploiting or creating new opportunities etc.

Operational Strategy– is concerned with how each part of the business is organised to deliver the corporate and business-unit level strategic direction. Operational strategy therefore focuses on issues of resources, processes, people etc.

How Strategy is Managed – Strategic Management

In its broadest sense, strategic management is about taking “strategic decisions” – decisions that answer the questions above.

In practice, a thorough strategic management process follows this process shown in the figure below. 

Strategic Analysis

This is all about analysing the strength of businesses’ position and understanding the important external factors that may influence that position. The process of Strategic Analysis can be assisted by a number of tools, including:

PEST Analysis – a technique for understanding the “environment” in which a business operates 
Scenario Planning – a technique that builds various plausible views of possible futures for a business 
Five Forces Analysis – a technique for identifying the forces which affect the level of competition in an industry 
Market Segmentation – a technique which seeks to identify similarities and differences between groups of customers or users 
Directional Policy Matrix – a technique which summarises the competitive strength of a businesses operations in specific markets 
Competitor Analysis – a wide range of techniques and analysis that seeks to summarise a businesses’ overall competitive position 
Critical Success Factor Analysis – a technique to identify those areas in which a business must outperform the competition in order to succeed 
SWOT Analysis – a useful summary technique for summarising the key issues arising from an assessment of a businesses “internal” position and “external” environmental influences.
 

Strategic Choice

This process involves understanding the nature of stakeholder expectations (the “ground rules”), identifying strategic options, and then evaluating and selecting strategic options.

Strategy Implementation

Often the hardest part. When a strategy has been analysed and selected, the task is then to translate it into organisational action

The most under-rated of them all SWOT

Strengths

Once you know your macro goals and marketing strategies, analyze your company strengths in all areas pertaining to the four P’s. For example, your manufacturing facility directly affects the quality of your product. In a restaurant, the kitchen is responsible for product quality. Determine what competitive advantages you have in terms of product development so you can take steps to maintain them. You might have big enough profit margins that you can lower your prices, helping you take market share from competitors or making it difficult for new businesses to enter your market. Review the effects of adding wholesalers, outside rep companies or online sales.

Weaknesses

Start by reviewing your strategic vulnerabilities rather than looking internally at departmental performance. A poorly performing department might cost you money but have little effect on your strategic plans. For example, examine where your competition holds an edge and figure out why it does. Determine if you are vulnerable to a serious setback if one or two customers leave you or demand lower prices, and then take steps to expand your customer base or diversify your product line. If you are in a mature market with little room to grow, your only option for increasing profits might be cutting costs, diversifying or acquiring another business. After you have examined your strategic weaknesses, evaluate how your departments might be contributing to these problems and how you can solve these problems at the departmental level.

Opportunities

Review the four P’s again and determine if any marketplace needs aren’t being served. Determine if you can improve your product or add complementary items to your line to serve those needs. Evaluate the effects on sales volumes and gross profits of different price points. Analyze the effects of using new distribution channels. Test different advertising, promotional and social media options you haven’t tried. Share your findings with your department heads and solicit their opinions about how they can provide increased benefit to help the company with its long-term strategies.

Threats

Using the information you found in your analysis of your weaknesses, determine what internal and external factors could trigger them. For example, evaluate what would happen to your sales if your competitor lowered its prices, began selling online or took one of your largest customers. Examine everything that could go wrong with your business and create plans to prevent these occurrences or to respond to them if they happen.

SWAT Example 

For any business that has the intentions of growing and increasing turnover, you will only achieve success with a clear defined strategy and set objectives

By Robert Burrus

www.robertburrus.com

Breakaway From Being Average

Average

Coast through life and stay within the tolerance bands of being average and its guaranteed throughout your working like, you are going to contribute to making someone else successful.

I wrote this short book about the concept of time and if digested correctly becomes a wakeup call, so I recommend you read the section that breaks down the average persons day. – Enjoy 

Can you image the average person reads one book per year, so the rest of the time must be spent flicking through social media, watching Netflix or watching someone on YouTube that is trying to convince you they are making £1000 a day affiliate marketing, working from home.

This is 2019 and we live in an age now where you can learn anything at anytime thanks to the internet running through your smartphone that you can’t help picking up every 5 minutes just to see if something has changed in your Facebook or Instagram page.

When I was studying for a degree, I had to use this building called a library (now called the world wide web) and then spend hours researching books, then writing information down because you couldn’t take books out of the library as you could always guarantee someone had it reserved at the time you wanted it.

Fast forward to current day and you can access information on demand anytime you like so you have the capability to learn anything if you have the mindset to focus. So being average and wasting life in front of a television or using your thumb to flick through pages of crap on Facebook daily just on the off chance you might have missed something, seems to be how a large percentages of people like drifting through life, then they moan about not having enough money each month to cover those bills.

Do the research on people like Elon Musk who is mostly self-taught and look at the number of books he read and absorbed throughout his childhood and even today he continues to read and gain knowledge. Look at the top 1% and what sacrifices they made to achieve success.

The book I wrote a while back proves most people have at least 3 hours spare each evening where they decide its best spent, feet up in front of the TV watching some crap while time drifts by. Imagine if you took those 3 hours and looked at it over a one week period, then you have potentially wasted 21 hours of your existence on this planet.

If you dedicated those 21 hours to gaining knowledge or doing a course, its highly likely you will achieve some level of success. Those 21 hours over the space of one year gives you 1,092 hours each year to focus on improving you.

time
Time is the one thing you will never get back

You should be looking at yourself as an asset and everything you learn has the potential to improve the net worth of that asset, then take it up a level and set goals with defined objectives so you map out the path to success. The message in all of this is time is the one thing you can never get back once it’s gone so whatever you waste now, you are going to pay for in later years.

By Robert Burrus

www.robertburrus.com

Strategic Planning

The Figure above shows the five phases of creating a strategic plan and managing the process.  A feedback loop ensures that progress towards achieving plan goals is being monitored and that appropriate strategy adjustments are made to account for changing conditions.   

Phase 1 – Getting Started

  • Identify likely Planning Committee participants and determine their willingness to participate 
  • Establish a Strategic Planning Committee that is able to effectively identify the issues, develop practical solutions, and create clear objectives
  • Define roles and responsibilities for completing the strategic planning process
  • Assign roles and responsibilities
  • Assign the role of Facilitator for the planning process
  • Nominate a Committee Chair
  • Specify the target audience for the Strategic Plan
  • Determine the plan approval process
  • Identify and engage the appropriate people who need to participate in the Strategic Plan development effort (e.g., Federal, state, tribal, regional and local government agencies, regional utility companies, private sector, academia, etc) 

Phase 2 – Preliminary Planning

Logistics

  • Schedule a kick-off meeting
  • Determine future meeting frequency and dates of planning committee
  • Determine the venue(s) for meetings and if there is an appropriate budget for amenities such as food service
  • Establish Strategic Planning Committee tools for communication exchange
  • Define locations and dates for stakeholder informational gathering sessions

 Resource Planning

  • Determine what resources are needed to complete the effort
  • Assess what resources are available and how any existing gaps can be bridged
  • Document and understand the impact of any relevant constraints to the planning process itself (time, money, people availability)


Schedule

  • Identify any timing considerations, such as grant application deadlines, or other planning efforts (such as statewide IT plans)
  • Develop a schedule and establish milestone dates for completing the plan

Organization

  • Establish a Strategic Planning Committee Charter 
  • Establish sub-committees as necessary and ensure that subcommittee chairs understand what is expected of them
  • Identify factors that will ensure a successful planning process

Phase 3 – Strategizing

Scoping

  • Review any existing Strategic Plan(s) 
  • Review Primary Strategic Goals
  • Review other intra-organizational mandates and mission statements that impact the current activity
  • Identify political initiatives that the Strategic Goals can support
  • Indentify roadblocks or political barriers that may inhibit the Strategic Goals
  • Review other documents and materials that are relevant to this effort
  • Understand the breadth and scope of the Strategic Plan
  • Determine period covered by the new Strategic Plan
  • Review Strategic Plan Guidelines Questions and tailor as appropriate (Facilitator)

Goal Assessment

  • Develop templates for capturing information in a structured manner, for example, develop a form for the Planning Committee to list strengths and weaknesses
  • Identify preliminary programmatic sub-goals
  • Itemize, prioritize, refine, and validate programmatic sub-goals 
  • Validate objectives with stakeholders, management, and executives
  • Identify programmatic goals with a ‘quick win’ potential and use them to show early progress
  • Develop strategies for realizing each programmatic sub-goal
  • Identify any roadblocks or barriers and tactics for overcoming them
  • Analyze Strengths, Weaknesses, Opportunities, and Threats (SWOT)
  • Iterate with stakeholders to establish consensus view

Generating Support

  • Enlist political champion(s)
  • Identify and generate consensus among involved stakeholders and executives to become advocates for the plan objectives
  • Develop a marketing strategy to promote the plan’s objectives

Phase 4 – Authoring

  • Develop content aimed at the target readership in terms of style and presentation
  • Draft a preliminary plan 
  • Identify external reviewers
  • Solicit feedback from external reviewers
  • Parse and incorporate feedback as appropriate
  • As necessary, complete further review iterations
  • Publish the Strategic Plan

The Single Most Important Asset In Your Business

People

Businesses can only succeed if you have the right people in the right places

Let’s analyse 

If a business has a structure but the wrong people are placed into that structure then its going to fail, that’s inevitable.  Also, if you are paying someone a high salary and the output from that role is low then you also have money wastage, and taking into account most middle management roles are around 65,000 now and generally half of a company’s workforce stagnate within 2 to 4 years due to poor leadership. So, for sake of argument you have a middle management tier of around 15 and half of those are under performing then you will haemorrhage around 487,500 a year for what we call dead wood. Then you have the knock-on effect of zero progressing and internal negative energy.

Can you imagine if all of your focus went into helping your team achieve set objectives and show continual support as they learn to connect as a group and work closely together, you are going to have a team that will be willing to go that extra mile every day and you will begin to see people that believe they are part of the business.

People are assets and we must invest in them in order for a business to grow

One of the most critical aspects of growing any business is employing the right people. Get it right and your business’s growth trajectory is likely to continue or accelerate. Get it wrong and your tentative step forward might lead to the proverbial three steps back. It’s costly, stressful and time-consuming to manage the consequences of a wrong hire.

Building a high-performing team is one of the most rewarding and tangible measures of success; it creates a win-win environment which drives the growth of individuals and the company. Although recruitment can be time consuming, it is the best time investment you can make. If you hire the right people, most other things tend to take care of themselves

A New Era Demands Smarter Thinking 

There is a whole new set of macroeconomic factors driving the need to focus on people. We are in the midst of a new industrial revolution, where rapid digitisation and evolving technologies are fusing with demographic shifts, lower barriers to entry, evolving business models and consumer expectations, all producing an ever-accelerating rate of change. With this change comes a reduction in the time it takes a business to rise or fall, and therefore a need for a more productive, agile and high-performing workforce.

We live in a time now where people have to be able to diversify, think outside of the box, make smart decisions because customers expectations have changed due to competition. So it’s imperative you have the right people structured into the right roles, so the foundations of the business can support the ever-changing environment we now live in.

By http://www.robertburrus.com

The Internal Eyes of Your Business

KPIs

How to understand if your business is performing and on track to achieve annual objectives

Implementing KPIs

Key Performance Indicators (KPIs) play an important role in any business that values information and measuring progress.

KPIs can be used to track the performance and achievements of individuals, small teams, larger departments and the organisation as a whole. However, setting effective KPIs involves more than just laying down goals for the future and crossing your fingers.

First things first – your requirements!

– Why do I need a performance measurement system?
– What benefits do I expect from implementing this system?
– What is the impact on my organisation?
– Will the organization be willing to change behavior if needed?
– Will I commit to the process even though information produced by the system is negative?

To answer these questions, we need to know what we are looking for

Measure – measure is the simple verbal expression of what you are. Be as expressive as you can with your measures. In this example, we see “number of new customers” – that’s fine. There’s nothing wrong with it, but it can be advanced to be more expressive. A more descriptive measure would be “number of new customers this year” or “number of new customers for a certain product or a certain service”. So let’s call this “number of new customers this year.” 

Target – target is the numeric value that we want to achieve. The target needs to be apples-to-apples when a goal date is set or the due date is set. We want to achieve a thousand new customers by the end of the year, so the due date and the target work hand-in-hand. Measuring the target needs to work together. So it’s a number, so this is a number. This is a percentage, this is the percentage. 

Data source – where is it coming from? Be clear about what the source is. Most organizations have all sorts of data sources and fragmented systems. Make sure you identify where this data is coming and you’ll save a lot of time. 

Frequency – how often are you going to be reporting on this KPI? Ideally, you’re running monthly strategy reviews to report on the progress of your plan, in which case we’d like to see monthly KPIs. So you’ve got to be able to pull the data monthly to make that happen. That’s not always possible, but try to get there. Some organizations have some that are weekly and others that are daily. Monthly is a good place to start.

KPIs

I feel one of the most important areas of the business, if you want to review performance is to fully understand the KPIs. Know where to collect the data and understand the monitoring process. If you set the KPIs correctly within the business, you will be able to successfully monitor performance against set objectives.

Everyone is in business to make money but how do you know you are on track to achieve XY turnover for the year, well strategically placed KPIs will do that for you so do not overlook this management tool if you are trying to grow a business and make it successful

By – Robert J Burrus

What is the benefit of setting Business Objectives

I am lucky enough to have worked with some interesting businesses over the years and the ones that survive the test of time always have defined objectives.

You have to start off with the vision and then move onto the question of (what are our goals), then define the objectives around the goals. Once the objectives are defined then a plan of action can be produced to achieve each one documented.

This is how businesses stand the test of time and adopt the continual improvement methodology, by having clear achievable defined objectives.

How to Create Objectives That Work

Effective objectives that help everyone achieve a company’s goals follow the SMART outline:

  • Specific: Objectives assign direct responsibility and are clear.
  • Measurable: The progress while working on the objectives must be measurable. There must be regular reporting to management and employees about where they stand in their progress toward achieving the objectives
  • Attainable: Employees must believe they can accomplish the objectives; otherwise, they will not even try.
  • Relevant: Objectives must align with the goals of the company. Each objective should be a piece of the puzzle that makes up the steps of the company’s direction.
  • Timely: Objectives must have a time limit. Without a time constraint, employees will relax their efforts and not work on their responsibilities with any sense of urgency.

Goals and Objectives

Goals describe where the Managing Director wants the company to go, objectives define how to get there. Businesses that do not identify their long-term goals and do not create working objectives, will grow and develop a lot slower than other businesses if they grow at all.

Where you will fail

I have seen companies build a Management System and list objectives because it’s a clause in one of the standards in order for the business to achieve accreditation just so they have a nice certificate that can hang on a wall. The business misses the point and doesn’t understand why objectives have been identified in the first place. A business needs a progression route and structured objectives keep you focused towards the end goal.

Its a proven fact that if you want growth and want to develop into a world class business, you need objectives specific to your specialized sector.