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I Advice - The 7 Critical Steps to Formulating Your Annual Strategic Business Plan
Can A Website Help Grow Your Brand? - Part 1 al.Now that you’re familiar with the differences between marketing and advertising, and you have some understanding of the basic factors we apply when putting together an advertisement or an advertising plan (see that issue again or sign up so you don’t miss an issue), it’s time to think about effectively leveraging your time, effort, and money. A website can help you do just that.People often ask “Do I really need a website?” Our response is, “You can survive without it, but are you in business to survive or are you in business to thrive?” You might think that’s a silly question, but lots of businesses are functioning as if they’re just trying to get by rather than thrive.This issue will address some basic questions about websites. We’ll start with that original question, “Do I really need a website?”According to the Computer Industry Almanac, there are approximately 1.08 billion internet users in the world. Sixty-two million U.S. households, or 55 percent of American homes, had a Web-connected computer in 2003, according to U.S. Census data. That’s up from 50 percent in 2001, and more than triple the 18 percent who were online in 1997.People with any kind of regular web experience, understand and expect that a site will grow and change over time; so they may not demand that your site be perfect, b Complete the following sentence … “I’d love to ____, but I can’t because I’m/we’re _____. What are the words in the second blank? This is an example of a limiting assumption. The second blank need not be about you but could be about your market, your clients, your competitors etc. To move forward and achieve your vision these limiting assumptions need to be changed, you need to take responsibility for where you are. Change your limiting assumptions to empowering perceptions. Find a way around the external factors you feel are limiting your business or division. There are no “cant’s”, only new alternatives and new possibilities. Create a new paradigm. If you really are not able to get around a “can’t” then you need to examine how important this factor is to your business and therefore whether you are in the right business. Step 5 - Values Never Return Phone Calls Right Away Businesses tend to avoid doing their annual business plan thinking that it is an arduous task that does not accomplish much. Formulating your annual plan is, however, critical to your business success and if done correctly should be quick, easy and generate bottom line results.I once had a boss who told us to never return phone calls right away. He said if you return a call too quickly, the other person might think you're not very busy. This same boss also liked to say "always make it hard for the other person to schedule an appointment with you".His logic, in both cases was that if you appeared super busy then the other person (a prospect) would want to do business with you because you're a winner. And (he reasoned), it gave you the upper hand in any negotiations. Your apparent success told the prospect you didn't need their business.Great advice!Unless you actually want to grow your business. Then it's lousy advice. Who wants to do business with someone who purposely delays responding to you and who intentionally is difficult to work with? Not me.My old boss got it wrong in a big way. He spent too much time thinking about himself and how he appeared to other people. He thought by creating a certain image, he could manipulate people into wanting to do business with him.But that's contrary to how good business works. The only sure way to getting and keeping customer for the long term is to focus on them, not on yourself.Note, this does not mean you completely disregard what you want and need for a business relationship. Not at all! You're in business to h Rather than creating a business plan that achieves no results, other than to gather dust, you should be writing a strategic and operational plan. The words ‘strategic’ and ‘operational’ are important as they give purpose and results to the plan. Your annual plan needs to be strategic so that you know where you are going and what you would like to achieve from your business or division. The plan needs to be operational so that it will tell you how to get there. It will determine the strategies and goals that need to be achieved to reach your end point. Strategic business planning is about deciding on the future you want for your business or division and then deciding how you intend to obtain that future. If you have been in business for a number of years and your results each year are much the same as the year before then obviously something will have to change if you would like to see an improvement. It comes down to the saying: If you keep on doing what you have always done you will get what you have always got. The steps we outline below are perhaps unconventional to people familiar with business planning, but then most business plans don’t deliver results. All too often business plans are created out of a corporate requirement rather than a focused result. This system of business planning has been proved to deliver results for over 20 years. Try something new and you may be surprised by the outcome. To achieve results it is important that each step is well thought out and no step is omitted. Equally important is that the steps are completed in an open and collaborative environment that encourages learning and new ideas. Step 1 – Vision and Mission Statements A vision statement should paint a picture of the business you would like. It should get you thinking about your business and dreaming about what is possible. You can’t exaggerate your vision so go wild and have large dreams. You won’t know where it will take you unless you give free reign to those ideas and get excited. A vision statement can contain what you would like to see in revenue in a number of years. You could want to become a “world leader” in something, or become a “specialist” in something else. What would you like out of your company? Let it be more specific than flowery language that sits in your entrance foyer. A mission statement should answer the question as to why your business or division exists. Why would someone buy your product or service? What makes you different from your competition? Who are you selling too? What problem are you solving? Keep your mission statement short but answer why you are in business. Nike is a good example – ‘Do it” Who needs more? Ensure that your mission statement supports your vision. Ensure that it is concise and unique to your business. Try and capture your competitive edge and unique selling proposition in a statement that motivates. Step 2 – Celebrate Successes Take some time to think about what you achieved in the last year. Whether it was reaching a goal you had set or handling a crisis that arose. A thank you from a client indicates a success as does appreciation from your staff. Make a list of all the successes you achieved and find ways that you can expand on those achievements. Step 3 – Learn from Failures Make a list of your failures and mistakes and for each examine why it failed and how you can prevent the failure in the future. What needs to be changed? What needs to be put in place? What is missing? By examining both what worked and what didn’t work, you can find the lessons that you need to learn. You can then identify opportunities and the way forward. Step 4 – A New Paradigm Complete the following sentence … “I’d love to ____, but I can’t because I’m/we’re _____. What are the words in the second blank? This is an example of a limiting assumption. The second blank need not be about you but could be about your market, your clients, your competitors etc. To move forward and achieve your vision these limiting assumptions need to be changed, you need to take responsibility for where you are. Change your limiting assumptions to empowering perceptions. Find a way around the external factors you feel are limiting your business or division. There are no “cant’s”, only new alternatives and new possibilities. Create a new paradigm. If you really are not able to get around a “can’t” then you need to examine how important this factor is to your business and therefore whether you are in the right business. Step 5 - Values How To Effectively Delegate amiliar with business planning, but then most business plans don’t deliver results. All too often business plans are created out of a corporate requirement rather than a focused result. This system of business planning has been proved to deliver results for over 20 years. Try something new and you may be surprised by the outcome.If you are honest, delegating effectively is probably one of the toughest challenges you face and you are not alone. Managers in all types and size of business avoid delegating for a a whole host of reasons. I wonder how many of the following you recognise:• They don’t understand the need to delegate• They lack confidence in team to do what they require• They claim they don’t know how to delegate• Maybe they have tried and failed in the past so have a built in resistance to trying again• Maybe they like doing a particular job so don't want to let go of it• Perhaps they don’t understand their role as a manager and how it is different to being on the team• Sometimes they may be frightened of making themselves seem easily replaced if others can do tasks that they previously did• They think they have no time to delegate• They think there is nobody to delegate toSo how can you be more effective at delegating?1. Plan it in advance2. Think exactly what you want done3. Consider guidance needed4. Brief appropriately and check understanding5. Establish review dates and check understanding6. Create a buffer period so that there is time for revisions as required7. Delegate whole jobs, where possible8. Inform o To achieve results it is important that each step is well thought out and no step is omitted. Equally important is that the steps are completed in an open and collaborative environment that encourages learning and new ideas. Step 1 – Vision and Mission Statements A vision statement should paint a picture of the business you would like. It should get you thinking about your business and dreaming about what is possible. You can’t exaggerate your vision so go wild and have large dreams. You won’t know where it will take you unless you give free reign to those ideas and get excited. A vision statement can contain what you would like to see in revenue in a number of years. You could want to become a “world leader” in something, or become a “specialist” in something else. What would you like out of your company? Let it be more specific than flowery language that sits in your entrance foyer. A mission statement should answer the question as to why your business or division exists. Why would someone buy your product or service? What makes you different from your competition? Who are you selling too? What problem are you solving? Keep your mission statement short but answer why you are in business. Nike is a good example – ‘Do it” Who needs more? Ensure that your mission statement supports your vision. Ensure that it is concise and unique to your business. Try and capture your competitive edge and unique selling proposition in a statement that motivates. Step 2 – Celebrate Successes Take some time to think about what you achieved in the last year. Whether it was reaching a goal you had set or handling a crisis that arose. A thank you from a client indicates a success as does appreciation from your staff. Make a list of all the successes you achieved and find ways that you can expand on those achievements. Step 3 – Learn from Failures Make a list of your failures and mistakes and for each examine why it failed and how you can prevent the failure in the future. What needs to be changed? What needs to be put in place? What is missing? By examining both what worked and what didn’t work, you can find the lessons that you need to learn. You can then identify opportunities and the way forward. Step 4 – A New Paradigm Complete the following sentence … “I’d love to ____, but I can’t because I’m/we’re _____. What are the words in the second blank? This is an example of a limiting assumption. The second blank need not be about you but could be about your market, your clients, your competitors etc. To move forward and achieve your vision these limiting assumptions need to be changed, you need to take responsibility for where you are. Change your limiting assumptions to empowering perceptions. Find a way around the external factors you feel are limiting your business or division. There are no “cant’s”, only new alternatives and new possibilities. Create a new paradigm. If you really are not able to get around a “can’t” then you need to examine how important this factor is to your business and therefore whether you are in the right business. Step 5 - Values What About A Career in Welding? uld want to become a “world leader” in something, or become a “specialist” in something else. What would you like out of your company? Let it be more specific than flowery language that sits in your entrance foyer.If you are interested in a career in welding, you will be surprised what the working world has to offer you. After you have established an education pertaining to welding, you will be on your way to a rewarding career. Welding can help you establish financial security and open many doors of opportunity for you. What's more, a career in welding can be rewarding and truly enrich your life.To obtain a career in welding, you will be required to undergo special schooling and instruction. In fact, after you obtain your high school diploma you can study at some colleges or at special schools that focus solely on welding. Regardless of what school you attend, you will be required to learn various aspects of welding that include, but are in no way limited to welding technology, blueprint reading, oxyacetylene welding and cutting, shielded metal arc welding, gas tungsten arc welding, gas metal arc welding, flux cored arc welding and the ability to weld ferrous and nonferrous metals.Alternatively, advanced classes in welding offer increased knowledge and increased earning potential. Likewise, there are numerous books, and videos that can help you understand both the basic and advanced techniques of welding. You can purchase textbooks, workbooks, technical guides and study guides that will easily help you through y A mission statement should answer the question as to why your business or division exists. Why would someone buy your product or service? What makes you different from your competition? Who are you selling too? What problem are you solving? Keep your mission statement short but answer why you are in business. Nike is a good example – ‘Do it” Who needs more? Ensure that your mission statement supports your vision. Ensure that it is concise and unique to your business. Try and capture your competitive edge and unique selling proposition in a statement that motivates. Step 2 – Celebrate Successes Take some time to think about what you achieved in the last year. Whether it was reaching a goal you had set or handling a crisis that arose. A thank you from a client indicates a success as does appreciation from your staff. Make a list of all the successes you achieved and find ways that you can expand on those achievements. Step 3 – Learn from Failures Make a list of your failures and mistakes and for each examine why it failed and how you can prevent the failure in the future. What needs to be changed? What needs to be put in place? What is missing? By examining both what worked and what didn’t work, you can find the lessons that you need to learn. You can then identify opportunities and the way forward. Step 4 – A New Paradigm Complete the following sentence … “I’d love to ____, but I can’t because I’m/we’re _____. What are the words in the second blank? This is an example of a limiting assumption. The second blank need not be about you but could be about your market, your clients, your competitors etc. To move forward and achieve your vision these limiting assumptions need to be changed, you need to take responsibility for where you are. Change your limiting assumptions to empowering perceptions. Find a way around the external factors you feel are limiting your business or division. There are no “cant’s”, only new alternatives and new possibilities. Create a new paradigm. If you really are not able to get around a “can’t” then you need to examine how important this factor is to your business and therefore whether you are in the right business. Step 5 - Values Public Relations for Iran Needed and find ways that you can expand on those achievements.Iran needs some public relations teams to fix up its problematic standing in the International Community. But what can Iran do now to promote goodwill after threatening to; Blow Israel off the Map and nearly starting World War III? Not to mention telling the UN to go to hell over Iran’s nuclear weapons uranium enrichment.What could Iran possibly do now to curb suspicion, avert World War and come back into the fray of the International Community? What can Iran do to foster global goodwill and increase their public-relations endeavors? One thing they could do is to try a tactic of stating that the nuclear enrichment is only for the generation of power and not to make atomic bombs. They could certainly try this public-relations ploy, but after publicly stating that they wanted to nuke their neighbor, that might not work.If Iran really wishes to move forward in the world then their president will need to re-sign and a more moderate thinking gentle man will need to take his place and someone who is used to doing business with other leaders of the world with integrity. Iran has put themselves into a terrible position for both negotiation and any sort of return to proper public-relations with world leaders.Such a problematic state, which sponsors international terrorism will need regime change. A good PR move Step 3 – Learn from Failures Make a list of your failures and mistakes and for each examine why it failed and how you can prevent the failure in the future. What needs to be changed? What needs to be put in place? What is missing? By examining both what worked and what didn’t work, you can find the lessons that you need to learn. You can then identify opportunities and the way forward. Step 4 – A New Paradigm Complete the following sentence … “I’d love to ____, but I can’t because I’m/we’re _____. What are the words in the second blank? This is an example of a limiting assumption. The second blank need not be about you but could be about your market, your clients, your competitors etc. To move forward and achieve your vision these limiting assumptions need to be changed, you need to take responsibility for where you are. Change your limiting assumptions to empowering perceptions. Find a way around the external factors you feel are limiting your business or division. There are no “cant’s”, only new alternatives and new possibilities. Create a new paradigm. If you really are not able to get around a “can’t” then you need to examine how important this factor is to your business and therefore whether you are in the right business. Step 5 - Values Build Your Resume to Get Noticed al.THE WINNING RESUME . . . • Is 100% honest. • Presents your most important data first. • Emphasizes your assets and avoids information which might eliminate you from consideration. • Utilizes white space for a format that is consistent and visually attractive. • Is brief, concise, and easy to read. • Avoids the use of personal pronouns. • Is free of grammatical and spelling errors. • Is limited to a maximum of two pages.FORMAT/LAYOUT • Your resume should be brief, well organized, and neatly printed on 8 1/2" X 11" white or off white resume paper. • There are two basic resume formats: the chronological and the combination. • The resume format you choose should highlight your strengths and de-emphasize your weaker areas. Chronological: • Is the most common format. • Is especially good for a person with a strong history of directly relevant work experiences. Combination: • Organizes your most relevant experiences into skill areas. • Provides your employment history in a brief format. • Works very well for career changers, gaps in employment, or little or no work experience.PERSONAL INFORMATION • The only required information Complete the following sentence … “I’d love to ____, but I can’t because I’m/we’re _____. What are the words in the second blank? This is an example of a limiting assumption. The second blank need not be about you but could be about your market, your clients, your competitors etc. To move forward and achieve your vision these limiting assumptions need to be changed, you need to take responsibility for where you are. Change your limiting assumptions to empowering perceptions. Find a way around the external factors you feel are limiting your business or division. There are no “cant’s”, only new alternatives and new possibilities. Create a new paradigm. If you really are not able to get around a “can’t” then you need to examine how important this factor is to your business and therefore whether you are in the right business. Step 5 - Values If your business supports your values, such as honesty and integrity, it has a greater chance of success than one that requires you be dishonest on a daily basis. Step 6 – Strategies to Success Create your strategies based on opportunities and threats that your business faces. Think about what is critical to growing and operating your business and achieving your vision. Remember that you can’t be all things to all people and you should therefore specialize in what you do. Strategies can include topics such as technical knowledge, reputation, visibility, quality, employees and service. Select up to 5 topics that are critical to building your business and achieving your vision. Formulate a strategy statement for each topic and ensure that it is easy to understand and results in growth and profitability. Step 7 – Specific Goals Goals differ to strategies in that goals should always be SMART goals: Strategies are big picture items that work towards your vision. Goals should have number and dates in them to serve their purpose. If goals are not SMART goals they are not specific enough and will not provide focus on the tasks to be achieved. Goals can be formulated for each area of your business such as financial, marketing and sales, human resources, operations etc. Ensure that meeting these goals will achieve your vision and mission. As goals are measurable they can be graphed and also broken down in to weekly or monthly goals. If you are trying to increase sales over a one year period take the amount that you trying to increase it by and make smaller goals to achieve on a weekly or monthly basis. The good thing about graphing them is watching them go up! Conclusion • Did you achieve them? • If not, what was the problem? Can you recover and move forward? • If yes, congratulations are in order • Do you need to change any goals? Have you shifted your focus since your plan? Living by your plan will keep you focused. It also ensures accountability in a team setting and therefore improves performance and productivity. One word of caution however, using these 7 steps in a team environment requires open communication and contribution from all members. If you are unable to generate open communication in your team, then facilitation by an outside person can be invaluable. There are a number of excellent systems on the market that can facilitate this business planning process. They have been proved to be affective in delivering results to companies of all sizes and in all industries. They differ in certain aspects of the 7 steps listed above but they achieve the same purpose. Happy Planning!
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