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Financial
Feb 13, 2020

The 7 Cs Of Planning Success

Sponsored Content provided by Dallas Romanowski - Managing Partner, Cornerstone Business Advisors

Success can be a nebulous concept. What one business owner considers success might only be a step on the path to success for you. What are some of the guidelines that you can use to foster the kinds of planning that achieve the success you want?

Tom Morris—a pioneer of business thinking—proposed the 7 Cs of Success. These seven Cs speak to how successful people achieve excellence, regardless of field or industry. Let’s look at these seven Cs and you can apply them when planning for your successful future.

A clear CONCEPTION of what you want, a goal clearly imagined

The very first C speaks to having defined goals. Goals are the foundation of all future success. You may have goals for your future success, and you should make those goals SMART (Specific, Measurable, Actionable, Realistic, and Time-bound). Once you’ve done that, you can adequately act.

An emotional COMMITMENT to the importance of what you’re doing

An emotional commitment to your cause is a major aspect of successful planning. Like most people, you likely make decisions and act based on your emotions and gut reactions, in tandem with logic and analytics. This can be a good thing. If you can harness the emotional side of planning, it can encourage you to move the planning process quickly and efficiently.

A strong CONFIDENCE that you can attain your goals

Laying out all the wants and needs you have might cause you to ask, “How can I possibly do all of this?” One way to accomplish even the most ambitious goals is to have a written road map of what to do, by when, and by whom. Writing goals down can make them more manageable and give you the confidence to formulate strategies to tackle them.

A focused CONCENTRATION on what it takes to reach those goals

Planning for future success is more of a marathon than a sprint. It’s normal if you’ve ever found yourself focused on fending off each day’s problems and postponing the future. This is where it can be prudent to call on expert advisors who can focus on bigger picture planning items to keep you concentrated on both your present operations and your future goals.

A stubborn CONSISTENCY in pursuing your vision

Having a consistent planning process can increase the likelihood of successfully pursing your vision of a successful future. When unexpected hurdles arise, having a consistent planning process can give you the means to keep planning moving toward achieving your vision for yourself and your company.

A good CHARACTER to guide and keep yourself on a proper course

Planning for future success hinges on trust. From the key employees in your company to any outside advisors you work with, you should be able to trust the people who play a role in achieving your goals. Ask yourself, “Are the people working for me doing everything they can to keep me on track?”

A CAPACITY TO ENJOY the process along the way

lanning for future success can be challenging. It’s possible that you’ve never engaged in this type of planning before, which can make you reluctant to move forward. To make planning enjoyable, you should set realistic, achievable, and actionable goals. Usually, these goals involve growing the business and its cash flow. You can then establish the means of achieving growth in value and cash flow. Enjoyment and satisfaction occur as you see your planning and implementation efforts bear fruit.

Conclusion

The seven Cs of success all share a common theme. They give you control: control over your present successes and control over how you pursue future success. If you’d like to discuss how you can maintain the most control over your future and implement these seven Cs in your planning, please contact us today.

Reference

“The Stoic Art of Living: An Interview With Philosopher and Pioneering Business Thinker Tom Morris.” Daily Stoic, November 3, 2019. https://dailystoic.com/tom-morris-interview/.

Welcome to Cornerstone's Exit Planning newsletter. We'll provide you with practical tips on planning your business exit twice a month. Contact us with any questions or to help get you started with the planning process. Enjoy! Dallas Romanowski & Chip Mayo

© Copyright 2020 Business Enterprise Institute, Inc. All Rights Reserved
As a member of the Business Enterprise Institute (BEI), Cornerstone Business Advisors is an authorized distributor of BEI’s content and Exit Planning Tools.

The Cornerstone team includes former C-Level executives, successful entrepreneurs and advisers who offer unmatched experience in delivering advanced, custom-tailored, results-oriented solutions for business leaders. As a member of the Business Enterprise Institute (BEI), Cornerstone is an authorized distributor of BEI’s content and Exit Planning Tools. We developed the Performance Culture System™ to help clients implement best practices and drive high performance throughout their organization. For more information, visit www.launchgrowexit.com, call (910) 681-1420 or email [email protected]

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