Updated: Dec 2, 2020
Entrepreneurship has become a change-provoking catalyst throughout African American communities. Throughout my years of reading, researching, conversing with others, and even assessing my own life, I have concluded that our collective desire for advancement has drawn us to the entrepreneurial lifestyle. Whether we are craving personal fulfillment, financial increase, or more flexibility with regards to time, we have all been compelled to pursue entrepreneurship in some way. Although exciting and liberating, entrepreneurship can be quite overwhelming. Fortunately, most of us have been able to wing it by coasting on the prayers of our grandmothers.
If you are an entrepreneur, take a few moments to pat yourself on the back (literally) for making it this far, because winging it is not easy. Now, it’s time to turn it up a notch and live your best life. If you don’t have an overall strategy for your business, this is the perfect time to create one. No matter how long you’ve been thriving in your areas of expertise, there is nothing wrong with revisiting and tweaking your business strategy. Strategies are essential to figuring out what works and what doesn’t. They even serve as innovative guiding tools when exploring new territories. Just as you would use a GPS, evaluate routes, and even change the course of direction when traveling to a new destination, life and business are no different. Starting a new journey, whether in life or business, oftentimes requires a change in direction, although the destination and end goal may be the same.)
I know I have used the word strategy a lot, and don’t let it scare you. It’s not a detailed business plan or a dissertation. It’s a 3-5 step plan to help you build a bridge from point A to point B. I have had clients ask “When is the best time to implement a strategy or update for a plan?” To piggyback off the previous blog post on Shifting Your Mindset, I’d always say that the best time to implement a strategy is when to feel like your goals aren’t aligned with your business. If it doesn’t feel right in your core, then it isn’t, and you know it. I would also advise entrepreneurs is to create self-care regimens as well as and a strategy to get business on track. The bounce-back plan for your business could include revisiting your Why’s, goals, mission & vision, or it could be a retreat for you or your staff. It could also involve hiring additional staff. Aside from those two strategies, I also suggest revisiting your plan and goals quarterly, maybe even monthly, to keep them at the forefront of your brains.
If you are struggling to create a strategy or are looking for a different approach, my favorite method is the reverse engineering of goals. So much so I created a free course & workbook on it. When you reverse engineer, you think of the end goal in mind and work your way backward until you get to where you currently are. It’s best to outline the top five steps you need to take to reach your goal. Sometimes you will find it necessary that each step has steps, it's best to put those as sub-steps. To increase productivity, I encourage my clients to find one significant action they can take in each level to get them closer to their goal. If you want to hear more about strategy creation, check on my podcast episode here.
For more information and to apply to my Pivot 2 Profit Program click Here!