Mike Cronin

Presented By: Michael J. Cronin

It’s that time again, when we reflect on the past year and plan for a new one. Although we all know that we should do this for our businesses, few of us ever take the time to do it. It is critically important that we look back over the past year, identify those things that were done that did work and those things that didn’t work at all. Even outside of the poor economic conditions we have experienced the past couple of years, the economy and the markets we serve are continually changing, and at a very fast pace. While there is little we can do to control the economy and the global marketplace, there is much that can be done to manage how our businesses navigate through them.

The continual process of look back, identify actions, measure result, plan, and move forward is the only way to survive and grow.

As small businesses, we tend to get trapped in a never ending game of “wait and see”. As I have spoken with business people over the past year, I have noticed an alarming pattern. Early in the year I heard “I’ll plan what to do this year when the economy settles down a little”. Then I heard “Let’s see if we’ve hit the bottom of the recession yet”. Then it was “Nothing happens in the summer, I have to wait until fall”. Next I heard “I can’t plan for anything until after the election”. Finally, my personal favorite “I need to wait until after the Holidays”. Well guess what? We just waited to plan to do something for all of 2010! While this sounds ridiculous, in many ways it is very true.

While there are numerous differences between big businesses and small, the fundamental management of a company is the same. In order to grow every business must: identify where they are, decide where they want to be, establish meaningful objectives, develop a plan to get there, execute the plan (with modifications as necessary), and repeat.

I know that this process can seem a bit daunting at first, but it isn’t as bad as it seems. Here are a few questions to ask yourself to get you started.

What were your 3 most significant accomplishments this year?
What specifically blocked you from reaching your objectives? (Don’t answer the economy!!) Knowing what you know now, what would you have done differently?

What are your 3 most significant objectives for next year?
What 3 things do you most want to change about your business? What do you want your business to look like a year from now?

Having done this, now go back and ask yourself “Why?” Only then should you develop a plan to get you where you want to be, identify and plan for things that might go wrong, and establish your overall priorities.
Now here is the most important part…Don’t wait to see what will happen around you. Work your plan and make your objectives a reality. If you don’t have a business coach or accountability partner, find one! ResTech Solutions can help you through this process and help hold you accountable next year without it costing you a fortune.

“We just waited all year to do something.”

Let’s not wait to see what happens in 2011.
Let’s make what we want, happen instead!

Michael J. Cronin founded ResTech Solutions, LLC in 2002 after 15 years in the corporate world. He has hands-on experience in a number of functional areas and has worked with both domestic and international organizations. ResTech Solutions prides itself on the development of practical, cost-effective programs for its clients. For more information or to schedule a complimentary consultation, please contact Michael at (484) 883-2707 or mjcronin@restechsolutions.com.

To learn more about Annual Reviews, Year-end Planning and Accountability Partners and how they can dramatically improve your business, please contact ResTech Solutions at (484) 883-2707 or mjcronin@restechsolutions.com.