Strength in Numbers

Beware of setting goals that are too easily achievable, as reaching them may not signify true progress. This notion often arises when establishing targets, particularly in sales forecasts and overall business objectives. Even for lifestyle businesses content with maintaining the status quo, some level of growth is necessary, given the rising costs of operating a business. Moreover, in growth-driven enterprises, goals must be ambitious enough to propel the business to its potential.

Resistance often appears when advocating for lofty standards, citing potential disappointment if these goals are not attained. While understandable, we've witnessed companies equipped with cutting-edge technology and top-tier talent fail to push themselves beyond mediocrity. After investing substantially, shouldn't the aim be commensurate with the risks you’ve taken? Someone must lead the pack, so why not you?

This isn't about indiscriminately expanding resources in anticipation of work. Rather, it involves establishing growth expectations and augmenting capabilities as necessitated. Admittedly, it's a delicate balance, and the days of "build it and they will come" are likely behind us. Profitable operations with existing workloads must be maintained while paving the way for scalable growth, without sacrificing profitability – a two-lane strategy. One more observation to be aware of is that goals that are set too low can lead to complacency.

Credibility with shareholders, lenders and financial institutions must be preserved by offering realistic business projections. However, this shouldn't preclude pursuing internal growth objectives.

Setting ambitious targets is the easy part; the real challenge lies in delineating the amount of effort and anticipating obstacles. This aspect of planning should not be overlooked, and sadly often is.

Execution is where the rubber meets the road. It demands discipline, perseverance in the face of adversity, and a firm commitment to unlocking the business's true potential. It's undeniably tough, but it mirrors the approach historically adopted by industry leaders — they tackle what others deem too daunting.

Choose your path wisely, just like selecting the optimal line on the 18th hole — a risky yet potentially rewarding strategy or a safer but less lucrative approach. It's not about good or bad choices; it's about what aligns with your objectives.

These are some ideas that I think are important, and that you should consider. But what’s working for you? What are some of the ways you’re aligning the business goals to the true potential of the business? If you have thoughts or insights to share on this subject, feel free to comment below or reach out directly.

Mike Philie can help validate what’s working and what may need to change in your business. Changing the trajectory of a business is difficult to do while simultaneously operating the core competencies. Mike provides strategy and insight to ambitious owners and CEOs in the Graphic Communications Industry by providing direct and realistic advice, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach. Learn more at www.philiegroup.com, LinkedIn or email at mphilie@philiegroup.com.