Before you start on a project or even deciding what project you should work on, it’s important to have a process for deciding what it is you wanna work on and why. Too often, we don’t have a good idea about what’s the right thing for us to work on at any particular time in our job and in our companies.
Several years ago, I came up with a process I call The Objective Review. And today’s video is an explanation about the five areas that we cover through The Objective Review and how they work together to give you a road map for how to create a business that’s personally and economically sustainable.
Before you start on a project or even deciding what project you should work on, it’s important to have a process for deciding what it is you wanna work on and why. Too often, we don’t have a good idea about what’s the right thing for us to work on at any particular time in our job and in our companies. Several years ago, I came up with a process I call The Objective Review.
Now, this program is designed to help those who are interested in figuring out what they wanna be doing and why to go through a process, a significant process, where we start at 20,000 foot goals, which is high level things that you wanna have happen in your business and your life. And as we go through the process, we drill down and drill down. First, we go down to 10,000 feet, then 5,000 feet, and then 10 feet, to actually put the plan in place with the things that have to happen for you to get where you wanna go.
Now, the problem is most of us just start with a program and we just start doing stuff. We don’t have a process for how we should decide what we’re gonna work on and what’s the best thing. Today’s video is an explanation about the five areas that we cover and how they work together to give you a road map for how to create a business that’s personally and economically sustainable.
Hi, I’m Josh Patrick, the founder of Stage 2 Planning Partners and the Sustainable Business. I’m also the one who’s responsible for putting together our Cracking the Cash Flow Code Program and I’m the author of Sustainable: A Fable About Creating a Personally and Economically Sustainable Business.
Let’s dive right in and get started.
The Objective Review has five parts and here they are.
- First, we start at looking at what your personal core values are. Now, people say, “Josh, why do you always start with values?” and the reason I start with values is too many business owners have a disconnect between what they have as a corporate culture and what their personal values are. They let other people decide what’s important for them and they don’t decide what’s important about their company.
You know, one of the things that I think is really important about being in your own business is you get to decide how the business is gonna run and what it’s gonna look like. And you have to start with your core values with that.
- Next thing we do is we put together a strategy for integrating these core values in your business. Now, what we do is we take the core values, for example, one of mine is rights and respect, and we write a clarifying statement around what rights and respect would mean. For you it might be personal responsibility. It might be making things simple. It might be reaching cash flow freedom.
All those things are values that could live in your life, and we need to move them into your business. And we put a clarifying statement around that core value so other people know what you’re talking about. And by the way, when you put a clarifying statement around core values, what happens is you find that they become great tools for managing the type of behavior that you wanna have in your business.
- The next thing we do, and the third thing we do is we look at your personal financial situation and put together a plan that’s gonna allow you to become financially free from your business. Now, too many business owners I know are always worried about cash and are always worried about whether their business is gonna financially get them to where they’re going to go.
Now, you have to no idea if you don’t do a planning process that allows you to figure this out. Now, we have this down and dirty thing which you may have done called the Four Boxes of Financial Independence. And that just tells you if you’re really going in the right direction but we really wanna dig in here and we really want to take a deep look at your financial situation and if you’re doing the right things that will get you to financial success. If we don’t, then we need to be making some changes and be thinking about that because that’s a major issue when it comes to running your own business.
- We next go on to do a process we call CoreValue. And CoreValue is a software we licensed from the CoreValue people and it looks at nine internal drivers and nine external value drivers in your business. And what we use this for is to A, first, do an analysis of where we are with the business.
But second, and this is the most important part is to look for the low hanging fruit. There’s no reason to start working on something that’s gonna have low value and low return. We might as well start at the place that has the highest value and the highest return to start with.
- And then finally, we apply what I call the Stage 2 Planning process to all the information we’ve developed to put together a detailed road map for activities that can give you the biggest bang for the least amount of effort.
And the Stage 2 Planning process very simply is we start with what we wanna do, we dig down five levels on why we wanna do this, we then go back and look at the what again because there’s a very good chance there’s a more elegant way of what we wanna accomplish. We then ask ourselves, who’s gonna help us? And then finally we go to how are we gonna get there?
Now this process takes a day and a half and we only do it after we’ve spent time with you where we both decide that you can get enough value from going through this process. If we both say yes, we guarantee that after the time we spend together, you’re gonna say this was the best use of your time you’ve ever had in any planning process. If not, it’s simple, you just don’t pay us.
Hey, this Josh Patrick. Thanks a lot for spending some time with me. I hope you take me up on the conversation. Really, I hope you take me up on the conversation and I’m sure it’s gonna be a great one. Thanks a lot for stopping by today.