Have you just bought a business asset?
A 100-day plan is your list of immediate priorities that you intend on performing within the first 100 days of owning a new business asset.
An integration roadmap.
Your top 2 goals:
- maintaining the value of the asset you originally took on
- injecting growth in early days to set its accrual on a trajectory for long term investment success
According to Boston Consulting Group BCG, there are 5 critical ingredients to a successful 100-day plan:
- Setting a strategy
- Know what you want to achieve and why
- Getting the winning team together
- Know who you need and how they need to work together
- Open up some increased sustainable, cash flow
- Squeeze out more income from the business without destabilising it
- Engineer some efficiencies
- Do things better to increase profitability
- Write an action plan
- Articulate step by step what you are going to do to achieve your goals
From experience, the 100-day plan should form the foundation of your long term asset value. Starting as you mean to go on.
It resembles your first few steps as a new owner. It should mark intent and inspire confidence.
As with any other change environment, rising above will take:
- faithfulness to your plan
- an expectant hope for those around you
- a passion to give and forgive
- a drive for unity – yet without compromise
- truly, leading by example
All of the above will be required to win over those who will champion your business and make it fly.