Much like athletes, successful entrepreneurs approach their business strategy with the finish line in mind. Runner and ActionCOACH client Kathleen Gaspari, RMP shares her business success advice in the magazine Residential Resource, the official monthly news magazine of the National Association of Residential Property Managers. Gaspari reminds readers that like runners, reaching a certain performance level in business takes planning, preparation and dedication.
Begin by Working Backwards
At ActionCOACH, we use the term BHAG, or Big Hairy Audacious Goal. Entrepreneurs must first determine the ultimate goal they want to accomplish, then develop other supporting goals within a set time frame. Similarly, runners choose an event, then develop a training plan in order to meet the time and distance requirements of the upcoming race. The strategy starts with having the end goal in mind, a “working backwards” approach.
When it comes to setting the big kahuna of goals, the BHAG, let your dreams run wild. As Gaspari puts it: “There should be a ‘want’ that puts all that hard work into perspective and provides motivation necessary to stay the course. Many a race was won in the mind.”
Develop a Plan
Strategy comes into play during the planning segment. When planning, athletes and business owners alike must drill down each moment they have between now and when they want to reach their goal, or race day. Start with a long term plan, then break it down into monthly, daily and even hourly goals. Eventually, this will turn into a daily task list, with each task paving the way to the finish line.
Working Hard vs. Hard Work
Working hard does nothing if not leveraged appropriately. However, the road to success always involves hard work. The daily task list should contribute to building endurance, or good business habits. An effective strategy will include a balance of passive and active marketing techniques. For instance, good customer service and maintaining a professional, easy-to-access web presence will passively cultivate business. Active marketing might include face-to-face meetings with prospects and attending local networking events.
Even athletes who train diligently on a daily basis might not win the gold medal. While it takes hard work to achieve success, guarantees do not exist. Passionate athletes, and entrepreneurs, have to accept setbacks as part of the journey and continue to persevere, despite the odds. Remember, it takes just as much strategy and endurance to train for a sprint as it does a marathon.
Let ActionCOACH Help Lead You to Success
The ActionCOACH Tampa Bay team wants to take you and your business to the next level. Whether that entails taking your company public or moving to a national or international scale, our skilled team guarantees to help you reach your professional and business goals. Contact us today.