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What are your - BHAG's, New Year Resolutions, Strategic Goals for the coming year?

Imagine this year is coming to a close, what would you like to say you have ticked off your goals for the year?

TED Conferences, Lisa Gotlieb’s talk on “changing the story you tell about yourself” might cause you to rethink your current action plan.

The following are some of the business trends we are seeing for the coming year, do these happen to be on your new year's resolution list?

1. Workers versus Machine

  • Acceptance that the labour market is tight, and that we need to employ based on a compromise of the employer’s needs and employee’s expectations, as opposed to what we think their age and stage is.

  • There may be an alternative way to get the same role completed differently (or not done at all). Is there equipment which could undertake the same role? Questions you might ask yourself and your team:

    • What roles would your team like to eliminate or have machines complete?

    • How do you find a balance?

    • What is the capital investment required?

2. Employee Expectations

  • What do we think of our team, our culture? What does our team think of it? What would they like to change?

  • People are coming and going, and recruitment is hard. Are we being accepting enough of the availability of younger or older workers?

  • If we bring on older workers, what are our concerns? Do we need a recruiter to help us to identify those who want a slower pace of employment, as opposed to those opinionated and unwilling to compromise?

3. Agility

  • Traditionally we have had hierarchical structures as opposed to horizontal structures. Horizontal structures have the ability to provide agility, but can also be confusing for employees if they feel like no one is in control, has the ultimate responsibility.

  • Problem solving and critical thinking – do you encourage this within your business? So often we see owners thinking all decisions need to be made by them, which stifles problem solving by the team.

4. Sustainability and Resilience

  • How long do you plan for your business to be around? Is technology going to replace your business in time? Are you in business to generate a cash flow for the life you live outside of business? If you are then are you planning for the future, are you innovating, anticipating change? That can be hard for many industries, but here is the thing, you don’t need to be solely responsible, by pulling together a project team you can give your team something different to work on, on occasion, which can be a source of motivation and commitment to your business.

  • Do you understand the costs of your waste or how much the cost of fuel is adding to your products? Have you undertaken a project to see how if you reduced your waste or fuel costs what long term benefit it would have on your business?

5. Digitisation

  • Your next generation employee has come through the education system using phones and laptops. Are you ready for this impact? Do you understand what software is available for your business to operate efficiently? If not, it is worth seeking advice.

6. What’s the myth that exists about my business?

  • We started this blog about Lisa Gotlieb’s talk on “changing the story you tell about yourself”. Did you identify a myth about yourself or your business? How are you going to change the narrative? Making this change is big, huge. It may take longer than a year but it will be worth it.

The Business Studio team wish you much success in achieving your goals for the coming year. You are welcome to share them with us.

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