Memo: Sustaining Growth in Your Business

What gets measured gets done.

How do you keep your business growing? How do you ensure the health of your business and your personal income against threats from competition, market cycles, commission payout changes, regulation of all kinds, and the human threat of complacency?

The answer isn't to run faster on the same treadmill. The laws of physics say you can maintain a steady speed and still accelerate by changing direction. Since you're already traveling at top speed in your business and personal life, you can get the acceleration you need by making small changes in the direction you're taking. It's hard to foresee what those changes will be, but they will reveal themselves if you regularly devote some time to thinking and working on your business, not just in your business. A professional is constantly learning and improving through reading, professional education (an annual requirement in some professions), research etc. Coaching is a very personal and effective means of keeping a perspective on what's happening and "noodling" with someone else what your growth options are. Without a second perspective you sometimes "can't see the forest for the trees." The top professionals in sports and business have a coach or mentor they trust to help them improve their game.

I use a simple set of questions with my clients. These questions focus attention on the gap between what clients know and what they do. Whether my coaching is only once a month or as often as once a week, these questions apply. Try them yourself -- or with a coach -- to see their power.

Self-Coaching Questions

Begin by writing the completion of these "Sustainment Statements" every week. I recommend a weekly period to give them urgency and to help maintain your momentum. Feedback on a weekly basis is more effective than it is over a longer period of time.

Sustainment Statements

For the next week I will ?? (be very specific)

So that ?.. (what is the outcome and benefit?)

The results will look like this ?.. (if you can't describe it, how will you know it happened?)

After the first week you ask, "What have I done to make progress in ?"

How well or how much did I do (rate yourself 1-5)

What will I do next? __________ (pick your next step toward a certain goal or direction)

So that ?

The results will look like this ?

Next, find someone to "check your homework." Who is going to keep you on track? I began offering a tickler service to clients who want to do self-coaching in addition to using my regular coaching services. Repeating this questioning process weekly will make weekly improvements to your business. If you want to make regular progress, get someone or something you are accountable to weekly.

Bob Lodie is a speaker, business strategy coach and consultant to financial advisors. He is author of Three Steps to Million Dollar Production and Personal Success from the Inside Out. He can be reached [email protected] or direct at 310-552-6064

In The News:

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Succession Planning is Vital for Singapore Family Businesses  EU News, Business, Tech, Economy and moreSingapore's family owned businesses need to ensure that succession planning is a key part of business growth over the next five years.
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Final OB Life workshop summarizes public feedback for strategic plan update  Ormond Beach ObserverOrmond Beach Mayor Bill Partington held up a thick binder in front of about 50 people at the start of the OB Life program summary meeting on Tuesday, Jan. 22.
Amobee Announces Integration of Nielsen Data Allowing Advertisers to Plan Across TV and Digital Using Single Audience  Associated PressREDWOOD CITY, Calif. & SINGAPORE--(BUSINESS WIRE)--Feb 20, 2019--Amobee, a global digital advertising technology company, today announced an ...
Many ongoing workforce development efforts in Boyle County - The Advocate-Messenger  Danville AdvocateEditor's note: This is the third in a series of three columns from local workforce development volunteers exploring past, present and future workforce development ...
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How U of I's new strategic plan impacts Champaign-Urbana  FOX IllinoisThe University of Illinois is moving in a new direction, announcing its strategic plan for the next five years. These new goals could directly impact the community ...
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Is Budget 2019 an election budget? 'I don't plan on that basis,' says Heng Swee Keat  Channel NewsAsiaThe Budget is a “strategic plan” to ensure Singapore's long-term success and it is not based on election cycles, says Finance Minister Heng Swee Keat.
Michigan Radio is hiring a Director of Corporate Support  Michigan RadioJob Summary: Michigan Radio is accepting applications for a Director of Corporate Support. Michigan Radio is a public media *service* of the University of.
NHSX: joint organisation for digital transformation in NHS  Open Access GovernmentThe unit will take forward digital transformation in the NHS, allowing patients and staff to benefit from the latest digital systems and technology.
How I Work: Robert Walne | 2019-02-20  FenderBenderWhile Robert Walne's position now is not like most others at collision repair shops, his story to get to where he is now has threads of commonality with other shop ...
UI set to unveil newest strategic plan called 'The Next 150'  Champaign/Urbana News-GazetteCHAMPAIGN — *Fresh* off a celebration of its first 150 years, the University of Illinois is looking ahead to the next century and a half in its latest strategic plan.
Feb. 8 Is Deadline For Input On Decatur Strategic Plan  Decatur, GA PatchFeb. 8 Is Deadline For Input On Decatur Plan - Decatur-Avondale Estates, GA - City leaders want to know how you think your tax dollars should be spent.
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Newcastle Council's strategic planning meeting held at Shoal Bay Country Club  Newcastle HeraldShould Newcastle's ratepayers have to pick up the $9600 tab for dinner and overnight accommodation at Shoal Bay Country Club?
Rick Perry taps Texas oil chief and nuclear submariner as top advisers  Washington ExaminerEnergy Secretary Rick Perry on Wednesday picked the CEO of one of the largest oil companies operating in his home state of Texas to lead a special advisory ...
Elwyn moving staff to Camden after $39M tax credit  The Delaware County Daily TimesMIDDLETOWN — Elwyn announced it plans to move up to 200 administrative staff to Camden, N.J., after winning $39.6 million in tax credits in exchange for a ...
DTS Joins Industry Leaders Supporting FAA eFAST Contract  Business WireDTS breaks new ground with FAA to provide consulting and IT services for FAA eFAST.
Winners and Losers From Singapore's 2019 Budget Plan  BloombergSingapore Finance Minister Heng Swee Keat delivered a budget that included more health-care and military spending ahead of a general election that could ...
Lloyds Banking Group plc A year of strong strategic and financial delivery  DirectorsTalk InterviewsLloyds Banking Group plc (LON:LLOY) together with its subsidiaries released results for the year ended 31 December 2018. RESULTS FOR THE FULL YEAR ...
Keynote Address: James G. Kaiser  The CPA JournalFor the first time since the creation in 2003, we have a completely new board. Its new strategic plan, which was approved on November 15, has five goals.
Corporate Controllers Step Into the Spotlight as CFO Role Evolves  Wall Street JournalThe role of the corporate controller, often the finance chief's second-in-command, is expanding as CFOs delegate more of their traditional finance leadership ...
Council stands by plans to axe Yeovil town centre car parks for homes  Somerset LiveThe car parks were full of vehicles today as visitors and workers took advantage of the facilities.

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