Brian Tracy, professional trainer and Chairman and CEO of Brian Tracy International, offers business advice in his article entitled “Strategic Thinking.” In it, he suggests approaching strategic thinking with a “two-prong” technique. In doing so business owners can generate a higher return on their personal and professional energy, which in turn will create greater profitability.
While you may be a master accountant, when it comes to improving your business the most valuable tool you have is your mind. Your ability to think strategically and plan for a more profitable future is your greatest asset. Unfortunately, many feel too busy and overwhelmed to take the time to think about their businesses; they spend all their time managing it instead.
The best thing you can do for yourself and your business is to schedule time to think and plan for the future. Tracy recommends a “two-pronged” approach in which you focus on increasing the return on the energy you invest in both your professional and your personal life.
Everything you do requires energy; some activities require more and some less. When you can optimize your return on this valuable investment you not only increase your longevity, but you increase your business’s effectiveness and your personal satisfaction. Strategic thinking requires you to consider ways in which you can increase your return on this energy investment. Tracy explains, “…your earning ability is nothing more than the total of the mental, emotional and physical energies that you can apply toward getting valuable results for yourself and your company.”
In order to see the results of your strategic thinking you need to develop an action plan through which you implement your well-measured thoughts. First you must consider those services that bring the highest financial return to your business. Tracy recommends that you do more of these things. Second, consider those actions that bring the highest return on your personal energy. Again Tracy recommends that you do more of them.
Using QuickBooks to Increase Your Business’s Effectiveness
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Tracy, Brian. “Strategic Thinking.” 6 January 2009. Brian Tracy International