Agile Approach – Week #38 of The Financial Operating System®

Step #5 (Manage the Business) and Step #6 (Learn, Iterate & Improve) are supported by the “Agile Approach” introduced in Chapter 23. Agile principles are a method for improving project management and organizational adaptability. Originally developed for software development, the Agile approach is highlighted as a mindset that can help businesses achieve goals more effectively through continuous feedback, reassessment, and adaptation.

Key Points:

1. What is Agile?:

• Agile is characterized by breaking down projects into smaller, manageable components with frequent reassessments.
• It focuses on flexibility, collaboration, and iterative progress to deliver results that constantly and effectively meet objectives.

• Agile promotes delivering incremental improvements rather than waiting to try to deliver a perfect outcome.

2. Key Agile Principles:

• Break Goals into Components:
  • Divide large goals or projects into smaller, manageable tasks with clear deadlines.
  • This avoids last-minute scrambling and ensures steady progress.
• Seek Regular Feedback:
  • Frequent check-ins with stakeholders help ensure that the work aligns with goals.
  • Early feedback reduces wasted effort and enables timely course corrections.
  • Avoid working for months on a deliverable that fails to meet expectations
• Stay Market-Aware:
  • Keep an eye on competitors, technologies, customer behavior, and trends.
  • Conduct periodic SWOT analyses (Strengths, Weaknesses, Opportunities, Threats).
• Focus on “Good Enough”:
  • Deliver results that meet user needs (80%) rather than delaying for perfection.
  • Iterate and improve over time, focusing on continuous delivery.

3. Dare to Think Differently:

• To outperform competitors, businesses must be willing to do something different than the competition. 
• The Agile approach supports this innovation while minimzing risk through frequent feedback.
• More radical exercises like zero-based budgeting can spark fresh ideas even if the result is only incremental change.

Takeaway:

The Agile approach helps businesses improve efficiency, adapt to change, and deliver results through iterative progress and continuous feedback. By fostering flexibility and focusing on incremental improvements, Agile ensures projects align with objectives and respond effectively to evolving challenges.

Next Step:

Business owners can self-implement The Financial Operating System. Chapters are available to download at smartbooks.com/resources or you can buy the whole book from Amazon (the marketing firm version or the general business version).

If you would like assistance with implementation or would like to accelerate results for your business, please contact author Cal Wilder at cwilder@smartbooks.com or book a free consultation with our team directly using this calendar link.