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trekking
a newsletter on practical strategic thinking and action
issue #68
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why i hate new year's resolutions
It's December, which means we are fast approaching 2010 and with
it, the annual ritual of New Year's resolutions. Personally speaking, I'm not a
big fan of New Years resolutions. Don't get me wrong, the ideas and motivation
behind these resolutions are good. No one ever makes a New Year's resolution to
smoke more cigarettes, gain some weight or get more out of shape - so most
resolutions then are to improve one's self. So, if the motivation behind them
is good, why do they seem to go so wrong year after year?
Well, first off, most everyone chooses New Year's resolutions
that significantly alter behavior that the person most likely has had for years,
relying solely on their own willpower. Losing weight, quitting smoking, getting
in shape or changing their saving habits - all pretty impressive, but very
demanding challenges as resolutions go. Do I think people are then aiming too
high? Maybe. But I think the real
culprit is the fact that many people make New Year's resolutions without really
thinking them through and putting a realistic plan in place to support the necessary
behavior changes. In the end, resolutions are dropped, people fail and the
entire idea of the New Year's resolution is disparaged. The concept of New Year's resolutions is
good, but we are made to feel bad if we fall short of our goals.
Most years I don't make New Year's resolutions. There is one
exception - three years ago, when I first joined the Winchester Highlanders
running club. That year I made a resolution to run 75 mornings with the
Highlanders (at 5:45 AM on weekday mornings to boot) and run a total of 750
miles that year. I fell short of my goals that year, probably aiming too high,
but I increased my mileage significantly over the previous year. So it was a relative success.
No, I don't have extraordinary willpower that the rest of
the world lacks. Instead, I sincerely
wanted to do this, my plan fit into my schedule, and there were measurable benchmarks to track my success. I still
run (if you saw last month's Trekking about my marathon you knew that) and
finally exceeded the 750 miles this year. It's a goal I worked up to gradually.
So, as we look to our own or our clients' businesses, keep in
mind that New Year's resolutions should be realistic and incorporated with a
well thought-out plan of action in order to be successful.
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a different approach
Not sure exactly what New Year's resolution to pick for your business or a client's
business? It certainly isn't as easy as doing a quick
self- inventory and realizing that you are 20 pounds overweight --
self-improvement resolutions seem to be easier to spot. Here's a list of suggestions to consider. This list
comes courtesy of Jan B. King, author of Business Plans to Game Plans:
- Make sure you have a business plan.
- Resolve to continuously promote your business.
- Set up action plans for your
employees.
- Survey
everyone. (We love this idea and call it Strategic Conversations)
- Make sure you are measuring the important
things in your business.
- Review your business performance measures.
- Make a
resolution to celebrate when you've accomplished a set goal. You and your team will take pride
in achievement and can get started on the next target.
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reading list
"Inbound Marketing:
Get Found Using Google, Social Media and Blogs" by Brian Halligan and Dharmesh Shah With all the talk about social media, the real news about the trend is often lost. The point is that the conversations you have
on the internet are important to driving traffic to your firm's website. This
book shows you how to use the web effectively to do just that. The authors are
the founders of a company we like called Hubspot. In the book they explain very
clearly how marketing is moving from:
An outbound 
model where you publish ads, call people and send out emails with the
intention of selling something
to
An inbound
model where you participate in, and contribute to, on-line conversations
with the intention of informing and building relationships--drawing people
into your business and selling more effectively.
You don't believe it? Well, here at Trek we have
recently closed on an engagement with a company that found us
in just this way. It's happening, and we all need to start learning about it. This book is a very practical first step.
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announcements
Exit Planning Exchange - Boston chapter
On Thursday morning, December 10 at Knight Hall at Babson College,
Bryan Piskorowski, Managing Director, Wells Fargo Advisors will address the personal investing outlook for 2010. Ken Serwinski, CEO/Senior Managing
Director of Prairie Capital Advisors will discuss the M & A outlook
for 2010.
To register for this event, please visit the
recently-updated
Best wishes to all Trekking readers for a healthy and productive 2010!
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Trek Consulting is proud to announce that our Trekking newsletter was named a 2008 Constant Contact All Star! |
about trek consulting
Trek works with owner-managed businesses to develop and execute action plans for
growth. Trek also works with the owners to prepare for their successful
exit by coordinating the resources necessary to increase and preserve
the firm's value, creating the succession plan and assembling the right
transaction team, financing and post-transaction plan. Our clients report improved market focus, greater
revenues, better margins and increased profits. To learn more about
Trek Consulting and how we can help you improve your company's results,
visit us on the web at www.trekconsulting.com or call us at 781.729.1008. |
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