Date post: | 22-May-2015 |
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Education |
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Neil FarnworthEnrich Training & Consultancy
Public sector and private enterprise – different business
models
• Revenue spending• Process driven• Market follower• People orientation often
high• Highly regulated• Serving
• Income generating• Profit driven• Market responsive• People orientation not
always high• Freedom• Selling
Public sector and private enterprise – different business
models• Sole trader• Partnership, LLP• Limited Company• PLC• Community Interest
Company• Charity• Co-operative
Operating in a ‘commercial’ way
• What does this mean to us?
• What may need to change?
Key elements of a commercial business
PEOPLE MARKETING
PROCESSES FINANCE
People
Balance your concern for profit with concern for the well-being of your staff
Recruit well: Always look for indicator of future performance
Be a good communicator & develop your leadership skills
Set clear expectations, targets and goals
Manage performance
Consider their reaction to change and manage it well
PeopleHUMAN RESPONSE TO CHANGE
SHOCK DENIAL
BLAME
SELF-BLAME
UNCERTAINTY
PROBLEM SOLVING
TIME
PERFORMANCE
PERFORMING
5
•Align your marketing plan with your
business goals
•Consider the ‘Marketing Mix’
•Gather feedback, and act on it, to continuously
improve your service
•Use cost effective marketing channels where appropriate
•Word of mouth
•Social networking
•Internet, Website, SEO
FinanceMarketing
5
•Research your competitors
•Attraction marketing rather than persuit selling
FinanceMarketing
PRODUCT OR SERVICE
Product development
Features/benefits
Range
Life cycle PLACE OR DISTRIBUTION
Wide range
Dealership channels
Stores / Direct Mail
WEBPROMOTION OR
COMMUNICATIONAdvertising
Public Relations
Direct Mail
Personal Selling
PRICECost–based
Marketing-based
Competition-based
THE MARKETING MIX
PROMOTION OR COMMUNICATION
Advertising
Public Relations
Direct Mail
Personal Selling
Unique Selling Point
Elevator Pitch
5
Plan for it•Cashflow forecast in line with business plan•Understand your Break-even point and plan accordingly•Don’t make decisions without considering financial implications
Collect it•Establish & agree your ‘T&Cs’ up front•Monitor your ‘aged debtors list’•Action prompt collection
Keep it•Look for waste in your operation and control it•Lease or buy?•Negotiate well on all purchases
Finance
5
Streamline processes through the application of information technology
Align all business processes in order that they add value to your customers
Ensure that processes operate effectively between the functions of your organisation
Processes
5
Processes
Generating revenue
Maintaining standards
Customer satisfaction
Business Functions
Processes
What skills will we need to develop in order to prepare for the future?
ENTREPRENEURISM
What is an entrepreneurial process ?
Spotting opportunities
Building capacity
Marshalling resources
Vision
Mission
Objective ObjectiveObjective
Operational targets
Where we want to be
What we need to achieve
The ‘What’ each department will contribute
Day to day progress
Developing a strategy
Operational strategy The ‘How’ each department will operate
Does it all seem too much?
We
win
for
you
… Myths
My business is too small
I have not been trading for 3 years
My turnover is not high enough
It is too complex
It is all about money
I don’t know them so I’ll never win
We
win
for
you
… www.tendersdirect.co.uk
‘Music’
Help for you to win
01392 248 548
Good business practice- 7 top tips
•Formulate, record and communicate your business plan
•Market your business effectively
•Value your staff
•Develop your leadership skills
•Eradicate all non-productive processes
•Maintain a positive cash flow
•Utilise technology to save you time and effort