Bridging the Gap and Measuring Progress

Bridging the gap could be a metaphor for life,  so often we find ourselves on one side of a divide looking for a solution to get to that place that is just our of reach.  This week the theme is measuring progress and getting to where you want to be.

Bridging the Gap

Helena Macleod

I was in Inverness Wednesday attended an event at The Kingsmills Hotel.  Helena Macleod was launching her new company Bridge A Gap Limited.

The event which was chaired by Nicky Marr was very well attended. The purpose of Bridge a Gap is to build rapport with people who are committed to driving business excellence, employee well-being and sustainability, at the core of their organisation.

I know that may sound a bit soft and cuddly to many people at the coal face of business but behind these words is a serious message that we would all do well to take on board.

At the event, the delegates were given time to speak to at least 8 of the 12 hub meisters (including yours truly) at the tables around the room. There was a whistle every 5 minutes to signal time to move on to another hub, and chairman Nicky Marr was on top of everything to make sure it all went according to plan.

So, what was my subject? Business goal setting and strategies to achieve these aims.

I got some fascinating insights into many of the business in the room. Here are my top 3 findings:

  1.  Targets set that are too limited – people spoke about how they wanted to grow their business significantly and be successful but only set small goals. No aiming for the moon here!
  2. Goals set but no strategies have been put in place to achieve them. Dreamers!
  3.  No goals set, so the business has no sense of direction. One person argued that setting specific goals stopped creativity. My argument was creativity will always come through but if you know where you are going the creativity will complement this and enhance the journey. No point being creative going round in circles.

Focused Strategy Sessions

measuring progress

I’m your BHAG

Also this week I spent a morning with a business owner establishing the purpose of his business, its core values, its

strength and weaknesses and the trends in his industry that are likely to affect him going forward.

We then set a long term goal (his Big Hairy Audacious Goal) which is the Everest that his business needs to climb, the milestones along the way, strategies at each milestone, critical KPIs and a timetable for measuring progress and actions over the next month.

Now, that’s focus!  If you would like focused strategy session please get in touch.

Managing & Measuring Progress

In today’s Sound Bite I remind you about the essential elements of planning your business with focus. Then, on a very practical level, how you can measure progress. I know that this is just bookkeeping. But that is how you gather at least some of the data you need to see if you are on course for your short and long term goals.

Are you running your business on these principles or do you have another system? I would be interested to hear your thoughts. As ever, any thoughts or questions on other aspects of tax planning, please call or email.

Call us on 0800 180 4401 or email advisers@thelongpartnership.co.uk

Slaying your tax dragons and making life less taxing!

Alan Long
The Long Partnership

PS. Please use the share buttons at the bottom of this post it helps to spread the word.

Never miss a Sound Bites Join here