Business pipeline

In the last couple of years, I’ve realized activity is key to growing my business.  If I am going to grow my business, I need to make sure there is a pipeline to generate increasing amounts of money over the next several years.  Typically, I will lay this out into a table to help me better visualize the key activities planned over the next couple of years.  I also associate numbers with each activity and a completion date.  This helps me understand where I can add more work and where I may need to reduce the workload or add resources.  It also helps me understand if the effort is worth the reward when comparing to my other projects.  This is where prioritization skills come into play.

With greater focus on the business pipeline table I created this week, I have quickly found new ideas to make my company better in terms of workload.  I also feel more confident that I have a better grasp of what needs to get done and when it needs to be done.  As I always mention, if you are not meeting your goals by the timing you set, then you need to take a step back and reassess the situation.  Does your timing make sense for the goal or milestone?  Are there more pressing issues you should be looking after?  Is there something that is taking you away from the goal you are not accomplishing in a timely manner?  As important as it is to find answers to the questions we ask, it is equally as important to ask the questions to invoke answers.

Lastly, without a business pipeline showing your next steps for the next couple of years, we may not be confident in our future as a company.  We need to make sure we are building strategy and executing it appropriately.  We also need to make sure our strategy makes sense for our business and allows our business to grow at the rates we are seeking.  Without growth year over year, our business may be in jeopardy of failing.  I have also mentioned time and time again, that we are generally fighting an uphill battle. Just with inflation, we need to pass those increased prices to our customers or find cost savings in our operations/materials to keep the price point the same.  Raising prices does not make any customer happy and I know this from personal experience.  If we can find cost savings each year, we can potentially keep the price point the same and not convince our customers to look elsewhere.  Build your pipeline and plan for the future.  Your growth awaits you!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

%d bloggers like this: