Michele Packard‐Milam, CAE Promotional Products Association International Robert Hechler Management Outsource Solutions MAS ‐ 1 Thursday, January 13, 2011 12:30 pm ‐ 1:30 pm Strategic Planning Made Easy ‐ Part 2 Brought to you by: The views and opinions expressed by presenters or others who have provided materials to and for this meeting are not necessarily those of PPAI. PPAI assumes no responsibility for, nor endorses any of the comments, recommendations or materials that are provided.
Transcript
Michele Packard‐Milam, CAEPromotional Products Association International
Robert HechlerManagement Outsource Solutions
MAS ‐ 1 Thursday, January 13, 2011
12:30 pm ‐ 1:30 pm
Strategic Planning Made Easy ‐ Part 2
Brought to you by:
The views and opinions expressed by presenters or others who have provided materials to and for this meeting are not necessarily those of PPAI. PPAI assumes no responsibility for, nor endorses any of the comments,
recommendations or materials that are provided.
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Strategic Planning Made Easy Worksheet
Presented January 13, 2011 at The PPAI Expo By Bob Hechler and Michele Packard-Milam, CAE
What business are you in?
_____________________________________________________________________________________________________________________________________________ Mission Statement Example: My company offers _______ services and _______ products to _______ customers in _______geographic area. Example: XYZ company creates success for companies in the Houston healthcare industry by generating great ideas for innovative promotional solutions.
SWOT Analysis Strengths: Existing models that work well, strong client bases, resources, talents, skills, specialties, tasks you and/or your staff are good at.
_____________________________________________________________________________________________________________________________________________ __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Weaknesses: Areas of frequent errors, recurring problems, reasons for losing customers, difficult business models, common issues.
Opportunities: Competitive weaknesses, current customer expansions, new segments, new lines, line extensions, new skills.
_____________________________________________________________________________________________________________________________________________ __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Threats: External events, specific economic influences, insurable acts of God.
_____________________________________________________________________________________________________________________________________________ __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Prioritizing: Put a dot by each of the 10 most important items in your SWOT, working across all four of the sections of the SWOT. You can place more than one dot on a particularly important item, but you may not use more than 10 dots total.
Business Areas of Focus: Specific areas of your company that need high-level goals, such as Sales, Operations, Sectors (e.g. healthcare, real estate, banking, education), Marketing, Finance/Reserves, Education/Certification, Product Development, Staff Training, Territories
Sales Finance/Reserves Marketing Balanced Client List Staff Training Product Development
Top Level Goals: In the numbered blanks below, write a vision statement/goal for each business area you listed above. Think about this as if you were having a consultant evaluate your business in 3 years – what would you want the consultant to say? Example: XYZ Company offers a broad range of product lines and is able to offer its clients turnkey solutions to any promotional need. Strategies: In the letter blanks beneath each goal, write 4-5 strategies for each major goal, using the priority elements you identified in your SWOT analysis. For each goal, indicate a driver (champion) and a rough timeline. It’s okay to indicate a start date (without end date) for major projects or overhauls. Example: Review the most popular product lines and explore a favored supplier relationship for each. Driver: Marketing Manager Due: 2nd Quarter 2011
a. ___________________________________________________________
b. ___________________________________________________________
c. ___________________________________________________________
d. ___________________________________________________________
Master Calendar
2011 January February March April May June Sales
d
Marketing
Finance
Client Portfolio
Skills/Knowledge
Events, shows, etc.
January-June 2011
Master Calendar
2011 July August September October November December Sales
Marketing
Finance
Client Portfolio
Skills/Knowledge
Events, shows, etc.
July – December 2011
Sales Tasks:
Analyze geographic territories – compare areas for strengths Explore expansion opportunities in existing client companies Create list of companies like existing customers Determine primary sales channels:
Current industries/segments where sales are happening Related segments Strong local industries Analyze product lines Consider major product lines to add
Consider consolidating business with fewer suppliers to improve relationship and preferred pricing
Ask customers “what else do you need?” and “what else are you working on?”
Marketing Tasks: Write mission statement Write elevator speech and memorize Determine positioning of my company Write my company’s story: Who we are, why we are good for our customers, where we are going Plan the entire marketing year:
Establish budget Determine available/affordable media Clean database and plan to update and maintain Find opportunities to demonstrate value to clients outside the selling process (ideas, case studies, trends, new products)
Create program of regular touches for existing clients Plan messaging for cold calls and outreach to prospects
Finance Tasks: Analyze spending ratios and adjust: Operations, Cost of Sales, Marketing, Development, Reserves Analyze and clean up “money pits” – areas with little or no return Improve staff skills in accounting/finance through training Update or upgrade financial software Learn best practices and implement (try to make at least one improvement each quarter)
Client Portfolio Tasks: Perform Customer Analysis for existing customer base Analyze current customer companies for expansion opportunities
Other departments Other divisions Other locations Analyze percentage of business per client Determine other companies in territory similar to existing customers Compare current customer list to major buyers of promotional products
Other Notes and Tasks Annually review your business, perform SWOT analysis and redefine goals Spend one hour every week reviewing goals and status of tasks (“Strategy Tune-ups”) Analyze skills and knowledge weaknesses among yourself and your staff; select training and education to raise staff capabilities
Glossary For
Strategic Planning Mission Statement: A statement about what your company does for your clients
and how it does business. E.g. “XYZ creates success for its clients through creative ideas, efficient operations and best-in-class customer service.”
Positioning: A definition of where a brand or company fits into its
competitive set. E.g. “XYZ Company is the premier reseller of high-end promotional products to the healthcare industry in Dallas.”
Elevator Speech: A short, powerful statement of the effect you have on your
clients, designed to evoke a “tell me more” response. E.g. “I create repeat business and success for my clients in the education industry.”
SWOT:
Strengths: Internal areas where your organization works well, easily and enjoys success
Weaknesses: Internal areas of difficulty; frequent problems; difficult competitors
Opportunities: External market openings, new areas of business, competitive weaknesses
Threats: External events or influences that could harm programs, events, key audiences; insurable events (weather, disaster, labor strikes, etc.)
Segment: An audience with defined or recognizable needs and traits. Examples: healthcare, education, real estate, banking; can also be geographic territory. See attached research table. Business Development: A discipline of seeking new customers, products, opportunities and segments for development as part of a growth strategy. Requires taking time to work on your business instead of always working in your business. Champion: A staff member or other person who drives a project or program forward. It is important to note that champions do not necessarily do the work, they just stay on top of deliverables to see that someone is doing it. Also sometimes called a “driver”. Coach: A business coach is a person who helps a small business owner develop the necessary skills to drive his or her business forward and achieve success. The business owner can then determine the best next steps, while the coach continues to provide
support over a specified period of time. Similar to a personal trainer for physical fitness. Client Portfolio: The total list of customers, including the industry, segment, geographic territory or other defining characteristics. This set of definitions will help you determine areas for potential growth in multiple directions. The Three Eyes: A concept regarding the tendency of small business owners to become workers or technicians and to cease or slow business development activity.
Typical time allocation: 20% Entrepreneur 10% Manager 80% Technician Ideal time allocation: 80% Entrepreneur/Manager 20% Technician
Master Calendar: An annual view of all crucial business areas, developed annually in order to set critical success activities and milestones. Master Calendar should be reviewed and updated during weekly “Strategy Tune-ups”.
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