Do you know what your strategic direction is? If someone asks you where you see your practice in five, 10 or 15 years, do you know what you want it to look like?
Spending time and energy on deciding your strategic direction for your business is time well-spent. It may take some soul searching and thought for you to arrive at your first draft. And, it's something that will likely bend and mold over time, so don't get crazy trying to be PERFECT. But do spend time getting somewhere!
The first things to think about are:
Mapping out your markets, your staff, your people and your opportunities is first on your list.
What is the size of your business. What size do you want it to be?
What is your scope of business. Where are you working to draw clients from?
What is your target market? Who IS your best customer profile?
What is your competition? Who is your competition? How do they differ? How are they the same?
What does your staff structure look like? What will it need to be?
What date is your goal for your business to be what you envision it to be?
Sometimes, a partner or coach can be the perfect motivation to get this vision completed. When I help one of my private coaching clients work through these things in the 30,000 foot view, watching the excitement when this vision becomes to grow clearer, is rewarding. When they start with this work, it's only a matter of time when they begin to dream about the practice they want and the autonomy they crave. For a taste of this, watch my video here where I lay out my book The DNA of the Autonomous Attorney. It all starts with a vision.
Have you spent time on these? If not, it's time to get it done.
Building better businesses, one strategy at a time.