Do This First, Then Set Strategy

Quick Insight

Generic “profit” or “growth” strategies get you somewhere, but maybe not where you really wanted to go. Your company can provide many things, but not everything. Make it your choice for what it provides. Establish a clear purpose for your business before building strategies.

“Purpose gives you direction. Strategy gives you the directions… Purpose is your why. Strategy is your how.” – Joey Reiman in The Story of Purpose

My strategic planning course (ACE - Achieve, Clarify, Execute) starts with clarifying your life aspirations and company purpose. Some may see this as theoretical and want to rush to more “practical” steps in building a strategy.

Not starting with purpose is like the classic Cheshire Cat scene from Alice in Wonderland:
Alice: Would you tell me, please, which way I ought to go from here?
The Cheshire Cat: That depends a good deal on where you want to get to.
Alice: I don't much care where.
The Cheshire Cat: Then it doesn't much matter which way you go.
Alice: ...So long as I get somewhere.
The Cheshire Cat: Oh, you're sure to do that

Strategy has to start with purpose. Every small business is unique. Some owners want a lifestyle business that provides time flexibility and reasonable profits. Others want high growth. Others want large cash distributions.

Generic “profit” or “growth” strategies get you somewhere, but maybe not where you really wanted to go. The beauty of a small business is that it can be customized to the needs of the owners. Profit isn’t the only goal. High growth isn’t always the right move.

Your company can provide many things, but not everything. Make it your choice for what it provides.

I wish you clear direction and effective directions. I wish you well.

- Rob Stephens

Further Insight

Read my article on how Business Goals Move You From Distraction to Direction

CFO Perspective Resources

Video: How Do You Create Value? - You get what you value when you provide value to others. Business success comes from creating value for owners, customers, and employees. I’ll explain how to discover and increase what each group values. I’ll also reveal the “Three D’s” and “Three P’s” that each group wants.
Course: ACE - Strategic Planning for Small Businesses - Small business strategic planning should quickly lead you from defining where you are going to deciding how to get there. Getting there takes a well-built strategy and implementation plan. Get planning and management tools with the basics of how to use them.

Get all the CFO Perspective resources with a FAST (Finance and Strategy Toolkit) membership.

Get the tools, guidance, and support for superior business performance

Get all the CFO Perspective courses plus more in one package. FAST (Finance and Strategy Toolkit) is the membership program that gives you the resources for better strategic financial management. Get direct access to me as well tools for improved decisions that lead to superior business performance.

The right tools save you time, reduce your stress, and improve your effectiveness.

Learn More

This Site cannot and does not contain legal, tax, personal financial planning, or investment advice. The legal, tax, personal financial planning, or investment information is provided for general informational and educational purposes only and is not a substitute for professional advice. Accordingly, before taking any actions based on such information, we encourage you to consult with the appropriate professionals. We do not provide any legal, tax, personal financial planning, or investment advice. CFO Perspective, LLC assumes no responsibility for errors or omissions in the contents on the site. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED ON THIS SITE IS SOLELY AT YOUR OWN RISK.