Yesterday I led a Strategic Retreat for business owners where we talked through this topic. These retreats take place every 90 days. It’s a full day away from your business to work “on” the business instead of “in” the business.
Every quarter we assess where our businesses are and where we are as strategic business owners. We set goals and we hold each other accountable to our goals and vision. We create a written plan of action for the next 90 days, and then we come back in 90 days and do it again. Each quarter we also work on some strategic system in our business. Yesterday this group had great accomplishments to share and they engaged our process with passion.
Everyone assessed where their business was in the small business lifecycle. Good business management is essential as small businesses move through the cycle. Here are the 5 stages that small businesses go through.