Wednesday, April 17, 2024

Just in Time Management

Identify the Needs of the Moment

So what’s bugging you the most? That’s the need of the moment.

Let your worried mind bring you peace.

Make a list, right now, of your most immediate and pressing concerns – the things that keep you awake at night. Yes, including things not directly related to business (because it’s all related to business).

Now choose three challenges from the worry list. These are the fuel for today’s fire, and the three articles for your take action list.

The item from the top of your worry list moves to the top of your take action list. Second comes your top ranking business worry, and third your highest personal concern (which is between you and your therapist).

Does your take action list include items not relative to your business plan? Good.

The true needs of the moment often times differ from plans laid long ago.

Run the Numbers

Now you know your three primary needs, and you can begin analysis to estimate your return on investment of time and money.

This means estimating, precognating, determining in advance the amount of money you will make or time you will free up by investing in the solutions to your current needs.

murdok, CEO of Murdok inc., recomends a conservative estimation. Be less than reasonable, and understand that all investments take time to mature. Especially, he says, in marketing, where an ad could transfer into a sale months after the customer’s first viewing.

React Immediately to Your Analysis

You’ve run conservative numbers on all the potential solutions to your top needs, and the best answers not only look right on paper, but feel right to your intuition (yes you have one). You trust your analysis and you know what you need to do.

Now do it.

The market shifts quickly, with little warning. Banner ads made money three years ago. People who sold them either analyzed their needs and reacted or are selling burgers.

Those who reacted quickly to declining banner ad sales created new media for advertising – the email newsletter.

Outline, check your goals regularly

Now that you’ve reacted immediately and analytically to your needs, create or review the outline of your goals.

First see how your old goals have changed now that you’re placing priority on your immediate needs. Determine whether these goals are still purposeful.

Keep your goals narrow and specific. “Advertise” is not a specific goal. “Design an ad for Fortune 500 executives who need a vacation” is.

By updating your goals regularly, you’ll gain perspective on where you’ve been and where you thought you might be today. These are clues to your future.

Stay Flexible

Just in time management requires flexability, since you’ll be changing your plans according to your needs, which change and change again.

Don’t sign a five-year lease on a 1000 square foot office if you, according to your conservative analysis, will need 15 new employees in the next three months.

The same goes for services. Don’t get locked into contracts that provide services you won’t need as your business grows and adapts.

Stay Informed

Know and understand the trends in your industry. Read the trade journals, subscribe to the listserves and newsletters, and investigate the chatgroups.

Don’t follow the trends, but be aware and ready to act if these trends affect your bottom line.

Stay poised – stay prime. Identify and analyze the needs of the moment; react immediately; set and reset your goals and stay flexible. This is just in time management.

Garrett French is the editor of Murdok’s eBusiness channel. You can talk to him directly at WebProWorld, the eBusiness Community Forum.

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