Recent articles covering the first part of this principle (Building your Strategic Plan) can be viewed by clicking here:
Drafting up the current situation and prioritising
Taking action on the main stuff
In this article I will outline the second part of this principle (Develop the skills and resources to achieve the plan).
Take an inventory of the skills and resources you currently have. We all have them in some capacity and acknowledging them up front allows us to move ahead quickly. Many of us will have very little else to start with. Begin with the good old SWOT analysis (Strengths, Weaknesses, Opportunities and Threats). Honestly ask:
· “What am I good at and what do I like doing?” - (Strengths).
· “What am I not good at and what do I not like doing?” (Weaknesses).
· “What are the great possibilities available to our business now and into the future?” (Opportunities)
· “What can become a real problem to our business now and into the future?” (Threats).
Write down your answers and accept that your strengths and weaknesses are how it has been UP UNTIL NOW. From here on you can begin to build your capabilities to deliver great results!
Review the Strategic Plan and deduce what other skills and resources you will need to deliver the results you really want. A thorough assessment of what is required from the people who will put the plan into action will reveal what you CURRENTLY do not possess in your business. The Opportunities and Threats above can be considered as well. From here you have 2 options:
· Start now and get access to the skills and resources now, or
· Start now with what you have and build your skills and resources as you go.
Either way you need to get started NOW.
Bring other specialist minds into your team, either as direct input into your business or as help to you personally. If you need to get solid and helpful employment contracts in place to secure your team, talk to a lawyer who is great in this area or source employment contract templates of the exact type you need. If you need an accountant who will add value to your business instead of just completing the end of year returns, go find one! If you need a business coach to help you focus and take meaningful action instead of procrastinate, then do it – www.growfarm.co.nz.
Upskill yourself as you are the driver of your business. Improve your weaknesses as a business owner – you need to be a generalist (know a little bit about many subjects) instead of a specialist (know a lot about very few subjects) so constant upskilling is a must. Read, attend seminars and farm meetings, talk with farmers and others who know what you want to know. All of these allow you to expand your knowledge and capabilities to deliver better and better results. On top of this, by diligently implementing the other Profit Principles over time you will automatically expand your capabilities.
Commit to being the business driver and don’t give responsibility for your results away to others. No-one else can or would want to drive YOUR business anyway so the only way to have a sustainably great business is to be the best you can be. Taking responsibility shows a willingness to exercise choice and to back yourself to achieve what you really want. This brings resolve and an attitude of “onwards and upwards” instead of stagnation and death of the business. By all means bring in other expertise as mentioned above, but the responsibility for all consequences rests with you, including the upside of success! That chance is an exciting possibility if you choose it to be!
My next article in this Profit Principles series will outline how to determine available livestock profit periods throughout the year to enable you opportunities to bank profit.
This article appears in the GrowFARM Connector (April 2010) - our monthly e-Newsletter. Click here to subscribe to the e-Newsletter