Our very own Mike Knapp was recently featured on Cyber Monday, a Conversations That Matter podcast all about keeping safe and staying diligent online.
As written by the show’s hosts, “Mike calmly and methodically unpacks critical business subjects such as business growth, the difference between strategy and execution, managing business risks (including cyber risks) and mindfulness and meditation.”
Have a look at the major topics below or listen in on the entire conversation.
Working on or working in the business?
One of the most common issues we see at the onset of client relationships, is that the business owner is working in the business, not on the business.
It’s a common trap, (think, “well, we’ve always done it that way”) but one that can be avoided.
Businesses owners must create an incredible, purposeful environment where top talent is drawn to. Then owners need to get out of their way, allowing leaders to focus on their specific areas so that owners can work on the business.
Working on the business means getting out of the day to day busyness and creating meaningful, strategic plans with team buy in and executing on them day in and out.
This is where 1-2 million-dollar businesses become 10-20 million-dollar businesses. Step outside of the business and scale.
Breaking down your strategic goals: 10 years, 3 years, 1 year
Now that you’ve gotten out of the business and are working on it, it’s time to build your strategic goals.
The first is your BHAG or Big Hairy Audacious Goal and it’s meant to look down the road 10-30 years. Its purpose is to get you to dream big and wild. It’s something that’s so moving, it makes the team shake with excitement and nervousness.
From there, break your goals into three years. Three years is more realistic than five years—three years is manageable in today’s ever-changing world. Once that’s wrapped, and you’ve got team buy in (don’t create strategies in isolation), tackle the tactical one-year plan to support the three-year plan.
Vision, strategy, execution in tactics. And remember, execution is everything. 70-90% of businesses fail to execute. Don’t miss this pivotal next step.
Mindfulness & empathy
Meditating is a vital piece to building mental resiliency, and it’s good for everyone in business, not just leaders.
Mediation isn’t a way to slow down, it’s a way to speed up—it helps build a strong, nimble brain. It helps build empathy and connection in a world where both are fading. It’s the secret potion to staying calm in the face of adversity.
In a world full of distraction, practicing mindfulness is a surefire way to get ahead in business.
Questions? Thoughts you might want to discuss? Get in touch.