Have a 2-Year Focus in Your Business for Increased Confidence and Likelihood of Being Successful

Last week, I hosted a Marketing and Tech Audit for a very talented doctor. Before the call, I did my homework, researched the doc’s business and his product line. I poked into the reviews his patients left him on a few websites… everything checked out.

During the Audit, it’s my job to uncover all that’s going on with the business and view the sticking points through a lens of marketing and technology.

This call was no different. In hosting the 90-minute Audit, I uncovered that this doctor had a TON of ventures he was chasing. Everything was interesting; everything had the potential to bring in a minimum of 6-figures.

The problem quickly became apparent… the doctor had no single focus. Yes, he wanted to work with a certain vendor to solve a specific problem, but that problem didn’t fit into a bigger vision of the business.

When I asked him about his custom formulations and dozens of products he’s either created or white-labeled, he told me sales were only at the time of service in the office. He also had a food blog with ample Facebook Likes; a great asset to leverage towards a singular, focused goal.

This doctor lacked a clear focus in his business. He looked at short-term tactics, thinking they could cover him as the business grew. Honestly, it was a fun and exciting way to look at the business, but in my opinion, it was the wrong way.

Having a singular, clear focus in your business increases the confidence of your employees and the likelihood of actually achieving something worthwhile.

If you’ve read any of my past blogs, you know I’m a big fan of Dan Sullivan and his company the Strategic Coach. Dan has a question that he asks during a sales conversation, a question that future-paces not only working together but also the prospect being highly successful. I like the question so much that I’ve used it hundreds of times in the last 6 years. The Dan Sullivan Question asks “If you and I were to meet here in exactly 2 years from today and you were thrilled with the success you made both personally and professionally, what would have had to happen for you to be happy?”

I then add to the question a request for specificity. “What specifically would sales look like? How many employees would you have? What would be your top-line revenue versus what you made personally?”

Just by asking this question, I’m able to pierce straight through the heart of the CEO and figure out what actually has to happen in order for an outcome to be successful.

By asking The Dan Sullivan Question, I’ve had a prospect tell me they wanted to double their business revenue, only to find out that they actually just wanted to double their personal income. It’s MUCH easier to double the CEO’s pay than it is to double the size of the business. This clarity allowed me to detail a strategy to not take on new acquisitions and heavy risk, but instead to find ways to marginally increase profits within the business (specifically by decreasing the cost to acquire a new customer).

When my co-founder Bill and I work with our clients at Engaged Officers, we ask the Dan Sullivan Question. It’s quickly clear if the prospect trusts us enough to dive deep into their business and give us the opportunity to solve the problems they have. Once we understand where the business needs to be in 2 years, we small-chunk the work required for the next 90 days. For a 90-day commitment, Bill, myself and the entire Engaged Officers team work to drive the results needed in a 90-day window to pace with the 2-year goal.

Just the act of a CEO declaring a 2-year goal brings about creativity, direction and confidence. Parkinson’s Law states that “work fills the time allotted.” That’s why we’re not asking about an outcome 5 years down the road. Dramatic growth in a business doesn’t need 5 years. In our experience, setting a strong, exciting 2-year goal is the difference between LEADING a company and staying busy. Only one of those leads to market disruption, financial reward and a feeling of accomplishment.

Choose wisely.

Casey
PS – In 2 weeks, Mike and I are hosting a no-cost webinar for business executives and decision makers. We’ll be talking about Sales Forecasting, Augmented Reality and whatever whacky idea Mike comes up with while out at Burning Man. Click here to RSVP.