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Virtuity – Put Your Success Plan Into Action

Plan and Act on Your Plan for Success: Part 2

provided by Susan Mesrobyan

(310) 954-7974

 

Yesterday, we discussed the basics for starting your business. In Part 1: Deciding What You Want and Getting Ready to Work Toward It, we discussed the foundations. Today, we’ll talk about The Steps to Put Your Plan Into Action. Tomorrow will be – Part 3: What Will My Success Look Like, and How Will I Know I’m Done?

 

PLAN, PLAN, PLAN

Yesterday, we discussed how important it was to have a Program-plan, Schedule, and Budget. These are the resources that you need to bring to your business. They form the roadmap that will get you from where you are to where you want to go. However, it will be necessary to change plans from time to time. That’s life, and that’s business.

Plans should be broken down into:

  • Annual
  • Quarterly
  • Monthly
  • Weekly
  • Daily

The most successful planners start from the end—where do we want to be in a year?—and work backward by quarters, months, weeks, and days. They allocate resources accordingly.

 

Accountabilities

Yesterday, we spoke about the need for people to be held accountable for their promises. This is the part of business where people often become panic-stricken. If a person promises 100 sales of your number 1 product in a quarter, then only produces 33 sales in that period, he will have to be given a chance to make up the loss in the next quarter, or someone else will have to take his place. There are lots of excuses made to shield people from being held responsible for their results, and it is the person with the poor mindset—and the company culture that encourages that poor mindset—which causes notorious failures.

Generally, we have found that people with strong backgrounds in sports or the military do the best in the types of business where performance counts most. And the owners of the business change plans for the quarter and for the month when it’s clear that their projections are unrealistic and not going to be anywhere near to fulfilled. They have heart-to-heart talks to find out the strengths and weaknesses so they can improve accordingly. They then change plans to be more realistic. All of this comes about only through experience.

 

Reward Performance, Not Attendance

Wealthy people are paid to perform. On the other hand, the poor trade their time for money. That’s not the way to earn a good retirement. Cheesy competitions are nothing but time-wasters, but real-world competitions which reward excellent performance are good ways to encourage people who produce results and to get others motivated to do so.

 

There Can Never Be “Too Much” Communication

There can never be “too much” communication. Too much detail? Yes, especially if the details do nothing to move a plan or a strategy forward. But making sure that everyone is on the same page is a vital part of a business and that requires transparency. The companies where good communication is part of their lifeblood are the best companies to work for.

So, we have planning; accountabilities; performance-based compensation; and great communication as integral parts of running a successful business.

How will we know we have achieved success in our business?

 

See Part 3, tomorrow, for What Will My Success Look Like, and How Will I Know I’m Done?

Susan Mesrobyan may be reached at (310) 954-7974

www.VirtuityFinancialPartners.com

 

www.linkedin.com/in/susan-mesrobyan-virtuity-wfg

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