The 4 P’s – Projects

An Essential Part of Growth Planning For Your Business

Middleton Elite Coaching – January 2021

 

Projects is the second of The 4 Ps. We define projects as anything that has a definitive end date.

Projects are an essential part of growth planning for your business.

We’ll help you discover an important filtering mechanism for determining the challenges, projects, or problems within your business. 

 

Could Do → Should Do → Must Do

The Could Do –

Use a whiteboard or ask your team to come up with a list of all of the things you COULD DO to: 

  • Improve your business this year
  • Increase your productivity
  • Improve your communication with your database.

 

The result is likely a lengthy list. Chances are, there just isn’t enough time to accomplish all of the things on this list. 

You must now prioritize. A good rule is to take 20% of the ‘Could Do’ list and filter it down to the ‘Should Do’ list. 

 

The Should Do –

The top 20% of the highest priority items from your Could Do list. All of the things you SHOULD DO to:

  • Improve your business this year
  • Increase your productivity
  • Improve your communication with your database.

 

The realistic result is that this is still quite a lengthy list. 

Chances are, there just isn’t enough time to accomplish all of the things on this list either.  

You must once again prioritize. A good rule is to take 20% of the ‘Should Do’ list and filter it down to the ‘Must Do’ list. 

 

The Must Do –

The must do’s is the shortlist of things you absolutely MUST DO to accomplish the following items: 

  • Improve your business this year
  • Increase your productivity.
  • Improve your communication with your database.

 

A good way to think of the Must Do items is to ask:

If I don’t do these things:

  1. I am exposing myself to a threat in my business?
  2. Will I lose ground to a competitor?
  3. Am I risking underperformance in pursuit of my goals?
  4. Could I miss an opportunity or advantage for my business?

 

Usually, these are things you are aware of but haven’t gotten around to doing because there was no fire under your butt. 

 

 

By Who? – By When?

Now that you have established your MUST DO list, you must determine who on your team will be responsible for completing these tasks, and by when must that person complete them. 

Who will be responsible for making sure this list is completed and completed on time?

Even if there will be a collaboration, it is important to establish one person to whom you will give the responsibility for the execution of this project. 

 

 

Use the following action plan when creating your ‘Must Do’ list. 

 

Action Plan: Projects

Must-Do #1:

By Who?

By When?

Must-Do #2:

By Who?

By When?

Must-Do #3:

By Who?

By When?

Carry this approach with you in creating your business growth plan and other projects.