Top

Frames of Reference – Review and Recharge

by SMD 


>>This series is based on Michael Gerber’s excellent book The E-Myth Revisited and the article The Business Plan That Always Works from E-Myth.com

Once you have an emotionally exciting picture of what you want, it is essential to create a series of ‘Frames of Reference’ within which you achieve the goal, over a specific time period.

These are the sweet tasting rest and recognition points of milestones achieved. They are places to celebrate, recharge, refocus and adjust plans and strategies going forward. They are the base camps on the climb up Mount Everest. Each frame of reference renews you as the enjoyment of where you have come from the excitement of moving closer to your end goal, both increase.

For me the frames of reference would look like this [I will come back and add the time component of the goals once I get clearer on what the business will look like]:

  • $50 a day gross revenue average over a one month period
  • 100 mailing list subscribers
  • quitting my day job [consistent $70 a day revenue] <– by September 2006.
  • to successfully outsource a project to lower the business’ dependency on me
  • $500 a day gross revenue average over a one month period
  • unsolicited online media coverage
  • unsolicited offline media coverage
  • hire a full time employee
  • hire a full time professional manager on a profit sharing plan
  • $1000 a day gross revenue average over a one month period
  • 5000 mailing list subscribers
  • $1,000,000 gross revenue in one year
  • $350,000 net income in one year

At each of the points, it will be a time for reflection, enjoyment and renewing the vision towards the final goal. Once they are all checked off, then it is time of a major review of the company.

If you are a going to create a list like this, take it, as well as the declarative statement from part 4 and pin it on the wall of your office. That’s where mine is and it helps to move me in a straighter line to see it in front of me every day.

In part 6 of the business plan that always works I learn that how to make the business reflect who am. Only by knowing who I am can I know what I really want.

Business Plan Series: Intro, part 1, part 2, part 3, part 4, part 5, part 6, part 7

Some Other Articles You May Enjoy

Comments

Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!





Bottom