Week 32 Focus – One Percent Rule to Business Development
Focus Question: What are the consistent daily steps you want to undertake?
Since 2005 I have been sharing what I call the One Percent Rule to Business Development. I've heard from a lot of entrepreneurs that they like this notion of incremental business action. So here it is!
The 1% rule to business development consists of a series of 8 different stages:
1. Create the Vision: Our vision sets the broad swath of possibility. It gets us thinking about what is possible. It also helps to anchor us when we think about where we want to go and what we want to do. Making our vision detailed and keeping it visible can be important. How are you enshrining your vision?
2. Prepare. During the preparation phase we want to get clear on what the requirements are for our work and projects. We want to know what a successful result looks like. We want to be clear on what resourcing is needed. During the preparation phase we will gather all the information we have so we can pull together a plan.
3. Create an action plan. In my work as a coach, I usually get my clients to create a One-Page Action Plan. The value of the One-Page Plan is that it contains all of the most important information in one page. The One-Pager be placed in a visual location so that you can refer to it quickly AND regularly. What’s on your action plan?
4. Seek out support. What is going to help you achieve the key goals you have set out for yourself? Support can take many forms – financial, technical, people. What do you need to be successful?
5. Take ongoing small steps. As my father, a retired entrepreneur himself, always reminds me that “Rome was not built in a day”. The premise behind the workbook planners is about taking REGULAR, CONSISTENT action. In building a business by ourselves burnout may be a possibility if we move too fast. It can be important to take regular small steps to create the momentum needed for things done quickly.
6. Test, Learn, Retest. In the sixth step were going to test things out. Today's volatility and complexity requires that we experiment regularly. With the data we receive from the initial test or action we can learn and apply then retest and learn again. This is an iterative process which continues. Throughout the business cycle we may move through different bouts of experimentation. Each cycle creates an opportunity for learning and growth.
7. Learn, Iterate and Act. Each action creates a reaction, which over time creates its own momentum, making it easier to achieve the goal. Along the way learning and feedback will help to shape what we do.
8. Ultimately our goal is achieved. Based on our experience we will further refine the vision that we set out for ourselves, expanding it or modifying it based on our experience. This will further support and shape our actions are we move forward with the next cycle and process.
This cycle may take place in a short amount of time, for example a day or it may be phased over the longer term of a project.
Using your business or a current project, work through the One Percent Rule. What can action and learning look like around one of your most important goals? Map out the 8 steps of the One Percent Rule.
Connection to the Workbook and Planner
Refer to the One Percent Rule to Business in Section 1 on page 29 of the Coaching Business Builder, or page 31 of PlanDoTrack.
Download a one-page copy of this week's 52 Weeks of Plan, Do and Track here.
Read and download the initial weeks of the 52 weeks of Plan, Do and Track
Jennifer Britton - Potentials Realized
Author of PlanDoTrack (2019), Coaching Business Builder (2018), Effective Virtual Conversations (2017) and From One to Many: Best Practices for Team and Group Coaching (2013). Pick up a copy of any of her books at Amazon
Book Jennifer for a coaching session to explore productivity, teamwork and business issues.
Contact her by phone at (416)996-8326
Check out the new 19 Productivity Tips on-demand program. Explore this video based program at your own pace, and join Jennifer for bi-weekly calls as part of your course.
Follow the #90DaysPlanDoTrack series on Instagram
Jennifer Britton is the blogger behind the popular Teams365 blog, a daily,blog for team leaders and members since 2014. Her latest publication is the PlanDoTrack Workbook and Planner. Pick up a copy at Amazon.
Pick Up a Copy
Join us for the 21 For 21 Virtual Co-working Sprints - $21 US. Want to access the recordings and bonus worksheets? Join us at the Booster Pack $79 US early bird rate. Sign up at 21for21 Virtual Co-working - STAND OUT VIRTUALLY!
Stand Out Virtually - Incubator - Running an online, virtual or digital business and want to get the word out to organizations? Join us for the 8 week Stand Out Virtually Incubator. Next group starts April 2021. Build out your brand, offers and proposals.
Virtual Facilitation Essentials (8.5 CCEs)- Expand your toolkit for better remote and virtual conversations. This is a virtual train-the-trainer - 5 weeks: Fall 2021 programming starts in October $495 US Learn more and register.
Coaches! Register for the 60 Day Coaching Business Builder Accelerator. Join us for 60 Days support and ACTION for coaches wanting to grow their businesses. On-Demand Course.
PlanDoTrack Facilitator Training Program (24 CCEs) - Starts again in October. Contact Jennifer to discuss.
Month-End/Quarterly Planning Session: Thursday September 30th - 8 -9 am ET