The One-Hour Business Plan by John McAdam

Author:John McAdam
Language: eng
Format: epub, mobi
Publisher: John Wiley & Sons
Published: 2013-08-25T16:00:00+00:00

Business Milestone Definition

To write a business milestone for the future, we need three elements: a significant business event, a deliverable date, and a measureable description of the business event. The significant business event typically takes the form of a series of goals to achieve. The deliverable date is normally expressed quarterly, but you can also set milestone periods of time such as semi-annual, annual, or multiyear. The measurable element of a future milestone enables either quantification or definitive determination, with a date in the future, and amply summarizes the series of objectives to prompt the business leader to monitor the milestone progress of an organization. Furthermore, the distinction between a business milestone in a strategic business planning process and a traditional milestone involves our view of time. We look forward into the future, not backward into the past.

Ironically, as I write this section, I am preparing a talk on business milestones for a group of business owners and CEOs later in the morning. These guys are smart, busy, competitive, and have shorter attention spans than a cat in a jungle. I have to get to the point quickly, clearly define a business milestone, provide classic examples, provide one specific example for each of them from what I know about their individual companies, and put them in a position to prepare better business milestones before lunch. It's a beautiful day. One of the visuals I will share with them today to summarize the essential elements of a business milestone follows in Figure 4.2.

Figure 4.2 Essential Elements of a Business Milestone

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