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Tools for Achieving Business Success in 2012

This content is provided by Winning Edge Consulting Limited

As the year 2011 draws to an end with its successes and challenges, now is the time to perfect your plans for getting the best for your business in Year 2012. However in preparing for 2012, five great tools are available to those who desire success of their businesses. These are:

Strategic plans: Strategic plans are documents that define the strategy or direction for a business and provide the basis for making decisions on allocating its scarce resources to pursue its chosen strategy over a given period of time. It answers the following questions: What do we do, for whom do we do it and how do we excel or outperform our competition. So do you have a strategic plan for your business? If not, create one.

Business plans: Business plans are formal statements of a set of business goals, the reasons why they are believed achievable and the plan for reaching them. It may also contain background information about the organization or team attempting to reach those goals. Business plans may also target changes in perception and branding by the customer, clients, or larger community. Business plans may be internally or externally focused. Externally focused business plans target goals that are important to stakeholders, particularly financial stakeholders, e.g., investors, customers or donors. For government agencies, the external stakeholders are: IMF, World Bank, various economic agencies of the United Nations and Development Banks. Internally focused business plans target intermediate goals required to reach the external goals. They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization. An internal business plan is often developed in conjunction with a balanced score card or a list of critical success factors. Businesses that have business plans generally do far better than businesses without such plans. So do you have a business plan for your business? If not create one for year 2012 for success of your business.

Training:  Training and business coaching are used to upscale skills or close any value gaps in organizations. So if you have any skill gap or need more skills for you and your people to improve your performance in 2012, go training hunting and find the training that you need for success of your business. In your choice of training this year, be careful that cost is not your main consideration. Value to your business and life should be the main factor.

Books: A book is a set of collection of written or printed information about a particular subject matter. To get better performance this year, read at least a book per week. Read books not only on business but also on your faith or other people’s faith, politics, economics and even Autobiographies. If possible write your own book this year. Don’t be a net consumer of global information. Be a contributor to global information. Who says, it may also contribute to success of your business.

People: Yes, one is too small a number for success (Ask John Maxwell). You need people for success of your business this year: your spouse, family, relations, friends, employees, ex-school mates and outside help (some call them consultants). People make dreams come to fruition. So in 2012, endeavor to cultivate first class relations with people to make your business succeed and reach its desired destination. 

Winning Edge Consulting Limited

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ejovwoke oghwie, warri, Nigeria  |  January 16, 2012