WHEN OPPORTUNITY KNOCKS…. MAKE A LIST!
An “Opportunities List” is a great tool to help you make strategic and tactical decisions so that you can capitalize on opportunities and solve the problems within your company.
If you don’t use a tool like this, you’ll be like most business owners that spend their days “putting out fires” instead of strategically planning to prevent those fires from occurring or reoccurring in the first place. There’s no need for that!
If you want to continue to enhance your company’s value and maximize your profits, then you have to do things differently than you’ve done them to this point. Creating and then using an Opportunities List provides a regimented, disciplined, proactive approach to business improvement and development.
It’s also a great tool that will assist you in working “on” your business rather than simply working “in” your business. That results in your ability to have more control over your business rather than the other way around.
It’s really a simple concept: (1) Determine every problem and unmet opportunity you have in your company, (2) Prioritize the problems or opportunities, (3) Identify your top three to five prioritized problems/opportunities, (4) brainstorm solutions to fix them or capitalize on them, and then (5) create specific action steps that can immediately be implemented to start the process of getting things the way you want them to be.
As you do this, other problems or opportunities in your business will surface. Put them on the list and repeat the process of prioritizing, brainstorming, and creating action steps to address your issues.
Please remember that you have to see things all the way through to completion, otherwise, all of the work put into solving a problem or capitalizing on an opportunity may be lost. If you have to put an initiative on the back-burner due to a new problem that’s surfaced, do it. But don’t forget to come back to that initial problem when you’re able to so you can complete the process and reap the benefits of all your efforts.
As simple as it is, using an Opportunities List requires time, attention, and care. But it’s a fantastic way to maintain control of your business and to maximize value and profits. Please be sure your executive team is involved in identifying the issues, prioritizing the initiatives, and creating the action plans which they will help you with. Business development is a team sport!