It’s an easy trap to fall into. The demands of your everyday responsibilities grow little by little until, before you realize it, they consume every available minute of your time and all of your energy. You find yourself working ‘heads down’—focusing on trying to get everything done. Then, should you look up from these important but mundane tasks, you find yourself bombarded by the media with stories about how terrible the economy is and how hard everyone is struggling to just keep their jobs. At that point, many people, including many bright business owners, go into what I call ‘survivor mode.’ They put their heads back down and work even harder to just keep the business plodding along.

I doubt this describes the vision you had when you started your business. I’m sure when you decided to go into business, you saw yourself making plans and implementing them to make your business grow and become a source of satisfaction and affluence. But here you are now just trying to keep it afloat. Who has time for this type of strategic thinking?

It doesn’t have to be that way!

First, make a mental note to yourself that it’s the media’s job to sensationalize situations to get people to tune in. They are always going to play up the unusual and usually the downside, so don’t pay them too much attention. Remember that there have been companies that began, grew, and even thrived in even the worst economic periods this country has faced. Carvel Ice Cream Company, Farmers Insurance Group, Motorola, and United Van Lines were founded in 1928 just before the Great Depression, and they’re still with us today.

Second, step back a little and look at where your business is and where you want it to be. Here are just a few ideas to consider:

• Think through decisions but don’t stop making them–paralysis will kill a business faster than anything!
• Take some calculated risks to move things forward.
• Base decisions on facts, not the emotions brought on by the media.
• Focus on positive thoughts, read positive materials, and guard against negative influences.
• If your friends are negative, find new friends.

Austin is listed as the friendliest city in the country for small businesses. Make the decision that your business will survive and thrive in this year’s economic climate. Bolster your determination that next year will be your best year ever. Then take the time necessary to put together plans to make those goals a reality.

Get out of the way negative people, because Austin has a group of serious entrepreneurs ready to “buckle up, drive fast, take chances, and come see us again soon!”

STRATEGIC PLANNING: Strategic Planning Requires Taking Risks is a post from: Strategy Execution Software

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1.0 Executive Summary

1. Company Information
2. Business Plan Purpose & Objectives
3. Company Goals & Vision
4. Company Mission Statement
5. Company Description
6. Company Purpose
7. Company Situation
8. Founders, Management & Principals Capabilities
9. Products & Services
10. The Competition
11. Keys to Success
12. Finance
13. Growth & Expansion Goals
14. Sales Forecast
15. Return on Equity / Return on Investment

2.0 Company Overview

1. Company Establishment
2. Company History
3. Company Structure
4. Company Ownership & Legal Formation
5. Facilities & Locations
6. Products & Services Overview
7. Trends Affecting the Company
8. Customers
9. Competitive Strategy
10. Company’s Strengths & Weaknesses
11. Company Performance
12. Company Finance
13. Company Assets

3.0 Management and Operations

1. Employees
2. Management Philosophy
3. Management Requirements
4. Management Gaps
5. Organizational Structure
6. Founders / Directors / Principals / Management / Key People
7. Management Administrative Procedures & Controls
8. Decision Making Teams & Processes
9. Company and Management Objectives, Goals and Strategy
10. Compensation Structure
11. Human Resources
12. Outsourcing
13. Consultants and Advisors
14. Products and Services Production and Delivery
15. Distribution System
16. Order Turn Around
17. Suppliers and Vendors
18. Service Standards
19. Customer Service Plan
20. Quality Control
21. Costs Minimization
22. Technology
23. Production and Operation Advantages
24. Capacity
25. Safety Procedures
26. Inventory
27. Environmental Considerations

4.0 Products and Services

1. Products and Services Description
2. Awards, Honors & Achievements
3. Case Studies
4. Product and Service Mix and Price Points
5. Life Cycle
6. Production Strategy
7. Research and Development Strategy
8. Space Utilization
9. Departments Descriptions
10. Future Products and Services
11. Effects of Technology
12. Computerization Requirements
13. Company Sales Literature and Brochures
14. Internet Strategies
15. Electronic Ordering and Fulfillment
16. Inventory Method and Management
17. Regulatory Compliance
18. Product and Service Liabilities

5.0 Marketing Plan

1. Industry Overview
2. Industry Distribution
3. Market Segments Description
4. Market Segment Needs
5. Market Segmentation Strategy
6. Market Trends
7. Market Growth
8. General Nature of the Competition
9. Customer Choice Factors
10. Product and Service Competitive Comparison
11. Competitive Analysis
12. Competitive Positioning
13. Competitive Edge
14. Marketing Strategy
15. Marketing Programs

6.0 Strategic and Sales Plan

1. Company Objectives
2. Potential Problems and Risks
3. Risk Analysis
4. Company Strategies, Strategic Tactics and Strategic Programs
5. Sales Strategy
6. Sales Programs
7. Strategic Alliances and Joint Ventures
8. Operating Budget
9. Sales Forecast
10. Milestones
11. Control Mechanisms

7.0 Financials

1. Sources and Uses of Funds
2. Financial Strategy
3. Capital Equipment Valuation
4. Company Collateral
5. Assumptions
6. Financials / Valuations / Financial Analysis / Budgets
7. Exit Strategy
8. Harvesting Value Strategy
9. Venture Risk
10. Effects of Investment and Finance on Cash Flow
11. Tax Strategies

8.0 Appendix

1. Resumes
2. Customer Testimonials / Recommendation Letters
3. Letters of Intent and Interest / Memorandums of Understanding
4. Reference Letters
5. Joint Venture and Strategic Alliance Agreements
6. Land Purchase Agreements
7. Product and Service Agreements
8. Other Agreements
9. Contracts, Leases and Pre-Sale Commitments
10. Patents, Trademarks, Service Marks, Copyrights and License Agreements
11. Brochures and Advertising Materials
12. Industry and Marketing Analysis and Studies
13. Market Research and Supporting Articles
14. Product Line Pictures, Renderings and Illustrations
15. Facilities and Equipment Pictures and Layouts
16. Maps and Photos of Business Locations
17. Construction Plans, Timelines and Disbursement Schedule
18. Engineering Studies
19. Company Registration and Charter
20. Company and Principals’ Credit Reports
21. Tax Returns
22. Quarterly and Annual Reports
23. Appraisals and Valuations
24. Feasibility Studies

About this Article Author

Frank Goley is a business consultant, business turnaround consultant, and business planner for ABC Business Consulting. Frank is an expert in writing, developing and implementing business plans, business turnaround plans, business funding plans, marketing plans, strategic plans and web marketing plans. Frank offers comprehensive business consulting, business coaching, business turnaround consulting, along with web seo, web development and web marketing consulting, to small and medium size companies.. Frank is author of the business plan book, The Comprehensive Business Plan Workbook – A Step by Step Guide to Effective Business Planning, and he has over 50 published articles on business success strategies. He also writes the Business Success Strategies Blog

A Proven Business Plan Template for Business Success is a post from: Strategy Execution Software

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Understanding Profit Relationships and Profit Components

Net Income (Profit) = Revenue (Income) minus Expenses (Costs)

Revenue comes in the form of Cash and Accounts Receivable.

There are Two Types of Expenses:  Fixed and Variable

Fixed Expenses:  incur periodically, regardless of operational effect and include items such as Rent, Insurance and Depreciation.

Variable Expenses:  Vary according to the level of Operations.  This includes items such as Product Labor and Material, Sales Promotion and Cost of Delivery.

Types of Profit Expressions:

Gross Income = Net Sales minus Cost of Goods Sold (COGS)

Operating Profit = Gross Margin

Net Income Before Tax

Net Income After Tax

All of the above expressions of Profitability indicate a certain relationship between Revenue and Expenses.  A decline in Profit Margin should be the catalyst to search for a cause, such as an increase in expenses; discounting or pricing errors caused a decline in per unit sales revenue; or a change in business operations.

Planning for Profits

Important Fundamentals:

Liquidity provides maximum flexibility.

Income Statement is viewed in relation to the Balance Sheet and the Cash Flow Statement.

Managed, under control Growth leads to Planned Growth.

A Short and Long Range Business Plan which has clearly unified relationships between Product Development, Market Planning, Strategic Planning and Financial Management.

Profit Planning Steps:

Step 1:  Profit Goal

A target value based on the realistic, developed results of your Company’s Strategic Plan.

Step 2:  Planned Sales Volume required to make the Profit Goal.

Utilize Operating and Sales Budget Forecasts

The Forecasts influence decisions on Materials Purchasing, Production Schedules, Financial Resource Acquisition, Plant and Equipment Procurement, Personnel Enumeration, along with Employment and Inventory Planning.

Forecasts derived from well developed, realistic determinations of Market Conditions, Market Trends, Industry Trends, Competitive Analysis, Competitive Edge, Market Segmentation, Promotion Strategies, Pricing Strategies, Distribution, Inflation and so forth.

Sales Volume Forecasts which are realizable and accurate come from the previously prescribed development relationships between:

Product Development

Market Planning

Strategic Planning

Picking arbitrary numbers for steps 1 and 2 will result in faulty Sales Forecasts, tainting the process from the beginning.

Step 3:  Expenses Estimation for the Planned Sales Volume

Be sure to use the previous years figures if you are an existing business. If you are a start up, it is smart to analyze similar type companies in your industry and use the published research to establish realistic estimated Expenses.

Adjust Expense Projections based on:

Change in Economic Conditions

Ratio of Expenses to Sales Level Change

Production Methods Improvements and Efficiencies

sensible salary levels

Materials to produce your goods

Labor to produce your products

Establish a Cost of Goods and equate it to the industry average for accuracy.

Figure in expenses which vary directly with changes in Volume.

Step 4:  Estimated Profit

Estimated / Projected Sales Income minus potential Expenses

Step 5:  Compare your Estimated Profit with your Profit Goal (step 1)

If there is a wide discrepancy between estimated profits and your profit goal, continue with the subsequent steps.

Step 6:  Determine Alternatives to Improve Profits

Change Planned Sales Income:

Increase Sales Promotion

Improve Product Quality

Improve Access to Product’s Availability

Alternative Product Uses

Analyze Unit Pricing Strategy to determine Best Pricing Policy for your defined Target Markets

Better Service

More Product dependableness

More Integrity in your Sales Process

Better Updating / Upgrading Strategy

Better After-Market Sales Strategy

Decrease Planned Expenses:

Better Control Systems for Product Development

Minimize Losses

Increased Productivity of People & Machines

Product Re-Design, Re-Branding, Re-Packaging

Product Improvements

Cost reducing Analysis and the resulting integrated strategy

Better Budgeting Control Mechanisms

Reduce Unit Costs:

Add other products in the mix to offset costs

Using idle capacity and assets innovatively

Make certain parts internally if more efficient than purchasing from Vendors

Kaizen Costing:  The advanced cost targeting in all the aspects of product development, design and production. Every company division and cost unit will set specific plans for cost reduction on a quarterly expectation basis.

Subcontract Certain Work and Outsource

Step 7:  Determine how Expenses vary with Sales Volume Changes

Experiment with Expense levels in selling fewer or more units with the information obtained in Step 3, understanding the relationship of Fixed and Variable Expenses to find the optimal mix of Products and the Unit Sales of those Products.

Beware:

Analyze Limited changes in Sales Volume as High Sales Volumes are costly and expend a lot of effort and Low Sales Volumes results in extra costs due to idle capacity, lack of volume discounts, underutilized highly trained and expensive labor force, and so on.

Changing conditions:  Economic shifts, Inflation, Deflation, Customer Shifts, Competitive Products, Market Shifts and other Factors causing changes in Unit Costs.

Step 8:  Understand how Profits vary with Sales Volume Changes

Use different Sales Volumes to determine the resulting Break Even Point and the Profitability Vector.

Step 9:  Analyze Profit Alternatives

Using the information generated in Steps 6, 7 and 8 consider profit increasing alternatives, such as:

Sales Price Changes

Change Advertising / Promotion Strategy

Reduce Variable Costs

Increase / Decrease Quality of Products

Find the right mix of Products

do away with Low-Margin Products

Bundle High Margin Spare Parts with New Equipment

Step 10:  Finalize the Strategic Plan and Implement

Measure the Strategic Plan’s execution over time to keep track of your Company’s resulting Pre-Tax Return on Equity and Pre-Tax Profit Margin.

Implement Tax Savings Strategies to keep more Earnings for future Opportunities and Expansion.

About this Article Author

Frank Goley is a business adviser, business turnaround consultant and business plan consultant for ABC Business Consulting. Frank is considered an expert in writing, developing and implementing business plans, business turnaround plans, business funding plans, marketing plans, strategic plans and web marketing plans. Frank offers comprehensive business consulting, business coaching, business turnaround consulting, along with web seo, web development and web marketing consulting, to small and medium size companies.. Frank is the author of a business plan book, The Comprehensive Business Plan Workbook – A Step by Step Guide to Effective Business Planning, and he has over 50 published articles on business success strategies. He also writes the Business Success Strategies Blog.

How to Increase Your Business Profits is a post from: Strategy Execution Software

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Strategic marketing planning is key to having a successful business, whether it is a box store (storefront) or online.

The start of your strategic marketing planning should be a positioning statement.

Why not start by doing a little brainstorming on who your customer might be.

Your target market is your customer.

Marketing, of course, is the term used for finding and making potential customers mindful that you exist and compel those customers to purchase whatever your product is.

Your product, the promise of your product, who your client is, and why your product is different from other products is what defines your marketing position.

When all is said and done, your statement should be believable and truthful, it should define how your product is different, and should make the product stick in your customer’s mind.

A brief paragraph, no more than three statements, should be enough of a statement.

This positioning statement is used to develop marketing materials for your marketing positioning work.  The positioning statement is for your eyes only.

So, now, ask yourself who would benefit from your product, is there an emotion that your customer will relate to with your product, what exactly is your product, is your product in a particular category of the market, what does your customer need the product for, who is your competition, and what is unique about your product?

Now, take the answers and create your positioning statement.

Before you start reaching out to your customers, learn the difference between benefits & features.  For further inspiration, see this other article.  You can find it by clicking here > strategic marketing planning 

In short, features are what your product has, benefits are how the client relates to the product.

If your product is a car, how will your customer feel when he is driving it? 

To get ideas, just watch the ads on television, listen to the radio ads, and the internet ads from major companies have the most well developed ads online.

Appeal to your clients with ads and press releases devised from the answers from your positioning statement. 

Priority #1: Strategic Marketing Planning for Your Bottom Line is a post from: Strategy Execution Software

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• Number of Leads – Get more customers coming through the doors
• Conversion Rate – Convert more enquiries into sales
• Number of Transactions – Increase the frequency a customer purchases
• Your Profit Margin – Increase the profit margin per sale
• Average Dollars per Sale – Increase the average sales amount per customer

By pursuing a regular marketing campaign based on networking, referral gathering, direct contact, writing, public speaking, advertising and promotion you can explode the number of leads pouring into your sales funnel. You can also push your conversion of leads into customers up by 5-10%. This takes a little bit of work but is well worth it.

You can put up your prices – this is a fast way to increase profits. Make sure price increases are made to products or services that have high volume or are moving at an acceptable rate. Throw in higher conversion rates from leads to customer and this will put a smile on your face!

All the above strategies work to improve your profits, yet to obtain the best bang for your buck you cannot beat the following one two punch:

Increase the number of transactions

If your customers usually make 4 purchases per year, then stretching this to 5 per year will have a profound effect on your bottom line. This is a strategy to use on your existing customers. How do you get them to come back more often and buy? Here are just some of the tactics you can use:

• Customer Loyalty programs
• Invitations to special promotions
• Email marketing or newsletter ( keep in touch or else they will drift to your competition)
• Customer appreciation nights and notifications of exclusive offerings

Increase the average dollar amount of each transaction

If you are not already actively encouraging your customers to spend more via the following tactics you should be, for example:

• Up-selling – Guide them to the $400 suit rather than the $200 one
• Cross Selling – Would they like a shirt or tie with that suit? (Buy the $400 suit and we will throw in the shirt and tie for a bundled price)
• Down Selling – Ok so you don’t want the more expensive suit how about the cheaper one?

To appreciate the impact that adjusting these two levers makes to the net profit of this example businessss let’s look at the following lists. The amount of transactions is increased from 4 to 5 and the average dollars per sale rises from $100 to $125. Everything else remains the same.

• Customers
• Transactions Per Year Per Customer
• Units Purchased Per Transaction
• Average Sale Price
• Gross Revenues
• Return %
• Bad Debt %
• Net Revenues
• Gross Profit Margin
• Gross Profit
• Fixed Costs
• Pre-Tax Profits
• Pre-Tax Margin

Figures Before

450,  4,  1,  $100,  $180,000,  2.00%,  3.50% ,$170,100,  50%,  $85,050,  $50,000,  $35,050,  21%

Figures After

450, 5, 1, $125, $281,250, 2.00%, 3.50%, $265,781, 50%, $132,891, $50,000, $82,891, 31%

The bolded figures in the after list are what you should be interested in. The net profit has more than doubled.

Click here for more on strategic management.

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We discussed on how training is less dependable when not fused into an objective centralized system, a system coupled to organizational development goals. After that, we came up with 5 platforms of a solution for better  retention and procedure and
these would save time and money .

The 5 basics are:

1.  Begin with a common vision.

2.  Get your people using a Common Methodology that will help them to be aware of psychology behind the group dynamics

3.  Set 5 facets of organizational development before starting any training and incorporate them into the training system in order to setting foundations to Nourish an paragon workenvironment and it will yield a more passionate organizational culture.

4.  Have multiple training course of studys ready to indoctrinate an intact group.

5.  Establish your major players, the people, who, by popularity or charisma, have the most influence in your groups and set them up to start your rotation.

Well, in addition to the questions that were answered in Part 1…

ever-changing our paradigm of training and people development would be hard!

So, what is the reason for this again???

An Organization’s Culture is its Personality and Attitude. Toschool  productive and Passionate Organizational Culture as well as  give Organizational Change, we must understand  and be able to influence the psychology of its group dynamics. The difficulty is that, unless we know and set the psychological parameters for Corporate Culture, it will be left to risk. According to a 2007 study of 70 like structured companies, you could lose 52% of your productivity potential. The study indicated: Where the mean = 100 people do the work of 100 people, in a poor culture , 100 people did the work of 68. But in a good organizational culture , 100 people did the work of 152! To win in improving  Organizational Culture , the people must “feel” that the company serves their own personal development beyond the paycheck. Now deal about this… How much better (and profitable) could your company be with 52 extra free employees?

Is that an adequate enough reasonto read on…?

So, now the function, the beginning of the Revolution

Six: With the first five steps in belongings, redesign your training as IMPLEMENTATION curriculums so that it renders quick Visible affects.

Huh? Immediate visible results , how? We don’t have time! People are Busy! …

Well, that is true with “Traditional” training! But we aren’t talking about Traditional, are we? We already know that the common vision for a better working environment is shared by your employees. So, implementation must visibly get them nearer to that vision. When personal satisfaction is organized with the organizations objective, it changes the significance of work for your people and provides a frame work by which employees can have personal vision concurrence with the company while creating a more passionate and fulfilled workplace .

But this isn’t going to  really happen with the  average 2 day training here and there. two days is just too much data and no connection to other learning! And worse, if its not related to a “Common Methodology”, how much real implementation will you get across the organization? And what’s about the instant emotional gratification that comes from beholding instant touchable results toward a common goal? Well, there isn’t much and people keep on doing the same old affair they have been doing. To get IMPLEMENTATION, you must take your staff on atravel of Change, Vision, and the macrocosm of a Greater Work Culture where they will be happier. It will be a journey of new perceptions that brings out attributes fundamental to Self Leadership, a journey where your people will “Feel” the “Personal” increase in change and then have a posture to actually make change happen.
After that, give them the social organisation to apply what they have gained and aid others in the organization to do the same.

Every journey needs a plan , and this plan of action starts with getting the common system of understanding to the people. The methodology we use is Directive Communication Organizational Psychology. We use this for 2 reasons. One: it works and it works fast, and Two: well, because I invented it.

Step one: Make sure that you know  the issues that are important with your people, and then set guidelines that senior  leaders are comfortable to make instant change towards those issues.

Step two: With your group of 12 to 15 “key Influencers”, get them trained in one day intervals with one day implementation directly later (and believe, implementation is focused on the creation of their greater purpose to create a personally fulfilling working environment and THEY make the changes based on senior management guidelines). The experiential process involves them and the group over the period of 12 to 14 days (depending on your size). Here is how it plays out.

1.  Key influencers post with peers the issues that should be changed in the organization. (If you have done your preparation, you already know what these are and you have set realistic guidelines that would be enough to get people excited). The key here is that THEY need to find out for themselves and make their own decisions with the group. Facilitators only guide them with the guidelines but they think it’s all their idea.

2.  Using tools like the Colored Brain Communication Inventory or HDMA , your people understand each other at deeper levels for more intelligent cooperation
and it is integrated into the process of implementation

3.  After each one day training, key influencers chose and train 5 to 8 peers and management a condensed indication of what they have learned and apply it to their immediate tasks and problem solving issues.

4.  Relate positive feedback and visible results to the the actions and behaviour modifications that were employed in the process

5.  Do the next day of training and repeat the process  for 4 to 5 days of training and implementation. Carry on each day using the terminology associated with the methodology to reinforce, more meaningful and less reactive communication

6.  Reinforce cognition with 40 minute online learning sessions for all staff

The result is increased synergy and trust across departments from peer training and covering of knowledge with a by product of personal accountability compulsory to take action without looking to others for management. Employees will create a supportive environment where they will draw on the collective strengths of the management and the staff at various levels.

Areas of focus

Personal Understanding :

• measure current organizational culture
• Assess issues that affect culture
• Appraise personal life goals and the effects of  organizational culture on those goals
• Evaluate current results in life Because of Work

Application :

• 5 pillars of Transformation
• Culture Evolution Strategies
• Clarity of Purpose and Direction
• integrated Group individuality
• A personal Success Identity connected to the
  group and the organization

With the entire organization, seeing the beginning of a realization of their greater purpose through work and awareness of the core methodology and its language that makes it happen, their unified identity induces a stronger force for achievement. Why? Because they start to feel like they are in dominance of their own fate. So, its time to move to the next step,solidification.

Seven: Set you efforts up for “Sustainable Change”

The hard work is over, now just add the relish into the initiative and you will see even more drastic results!

1.  During the process,key influencers develop directional principles with peers to create structure

2.  After training; the final day is a presentation of what kind of working environment the “people” want to create for bringing out the best of themselves and others, what they need to create it, and the guiding principles they have personally chosen to live by. This is presented in a fun entertaining show

3.  Senior management agrees because it is within the guidelines of what was already accepted

At this peak, people feel, they mean something in the big picture, that they, no matter what position in the organization, can make a dispute. They feel successful “Through” the organization and the organization goal starts to be aligned with them. After all, if they have the power to influence their corporate culture, they have a look of ownership in the company.

The reason, this program works over and over again over other types of initiatives, is that the psychological foundations are expanded by the employees themselves, neither by management nor by consultants. Each of these Modules contains “Implementation Projects”designed to cultivate ownership and excitement within the ranks of your people. The reappraisal of DC360 Blended Learning people development modules (in accordance with organizational objectives) reinforce created results and perpetuate passion at work.

While the DC psychological strategies affect perceptions, there is no “Mindset Change”. The process simply brings out the facets of identity that Already Exist (although in dissimilar environments). And, since there is no change in mindset, it is easier to sustain new existing behaviours under the different circumstances. Factors such as: Creating a Greater Purpose at work, using the DC psychology to achieve that greater purpose, having a language that reinforces awareness and facilitates better communication with less response, and creating a Unified Identity that aligns the group with the Greater Purpose.

Involving different organizational hierarchies (i.e. management, supervisors, front line, and support) as equals in the acquisition of something better, provides the glue that binds a sense of ownership and brings our self leadership qualities out in the masses. They then become the strike force that ignites the leadership revolution from within; they are the force for the good of the organization. They get a strong sense of purpose because they are fulfilling their own personal gratifications through the organization, not just doing the job.

Eight: Now that the foundation is strong, align it with competency, leadership, and inclusion of new employees. Since the core Directive Communication methodology (DC) applies to any soft skill training, your people will seldom need to go through traditional training again. alternatively, you can now provide ½ day programs in particular applications like: Management, Customer Service , Sales and Marketing, fiscal applications, Leadership, Innovation And Creativity, Communication and Branding…

But Wait!!! All these don’t need to experts in those fields?

Well, YA!

And that is why you can either use your own experts who become certified in Directive Communication Psychology or get  DC trained experts from around the globe who are already certified as DC trainers, each with their own area of expertise.

NOW… Time, scheduling and Cost become less of an issue with multiple platforms to “Apply” new applications of what they have already learned. You can use the multiple platforms to integrate everyone  who knows whats going on so that knowledge and best practices are shared with a common personal vision that is now in line with organizational objectives. And the system of measurement is already in place. So, you can see your people’s development and how the implementation of knowledge is realizing Company  goals  .

Here why you need to use this system:

• Platform flexibility allows everyone to get involved within whatever money you have to invest
• Improves organizational Communication and Cooperation
• Creates an environment where learning is constantly being Reinforced
• Includes Succession provision and Recruitment to maintain overall organizational objectives
• All learning and supporting efforts are systematically directed towards the Organization’s Objectives
• Integrated Leadership means that new knowledge is shared and employees take on roles of training their peers
• Process allows organizations  to design their Corporate Culture with multiple applications of DC
• Allows you to see  clear progress towards objectives and in individuals

Click here to learn more about strategic management.

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1. A formal  written business plan
2. Effective control over costs
3. Strategic pricing of goods sold
4. Promotion of a  well planned  public image
5. Implementation of technological aids
6. Professional advice  listened to and taken to heart
7. Reduction of small business taxes through tax planning
8. Proper coverage when it comes to   insurance
9. Superior product quality
10. A killer sales department
11. Ongoing  employee  training and retention of key personnel
12. Keen insight   of competition
13. Prediction and adaptability  to  market trends
14. Proper   start up funding
15. Accurate and timely financial records
16. An excellent–high traffic  location
17. Two-way communication with family members
18. Acceptance of a partner for the correct business reasons
19. Establishment of a working relationship with a  local banking officer
20. Operation under the proper strategic legal form of business
21. Learning how to learn, school is never out for the pro

So what is the #1 reason small businesses fail?

According to the Department of Commerce 8 out of 10 new businesses will  close  their doors in the first 5 years of operation.  Did you get what you just read? – 8 out of 10 would be ENTREPRENEURS become ENTRE-MANURE in the first 5 years.

Holly COW!  , what an alarming statistic – that so many people in pursuing the American dream will not succeed .  Why is that?

The “text book” answers of why businesses fail include the following:

• Lack of a business plan
• Not enough working capital
• Bad Location
• Poor Management
• Taxes-and the failure to take advantage of small business tax deductions.

Question:  Who started the business without proper planning?

Who started the business without enough working capital?

Who chose the terrible, stupid, bad location?

By the way, who was the poor management?

Answer:  You, you, you, the business owner , the would be super-star entrepreneur did all of that and made all those rotten decisions .  It’s you, period.  What in the world were you thinking?

Now don’t be too hard on yourself, most people are no better off than most of you when it comes to operating your own small company  .  This is  difficult  stuff to do.

But here is the TRUE  #1  reason why most businesses fail.

Most small businesses are not FEASIBLE from the get go .

In other words the business could never generate enough sales, to pay for the cost of sales, to pay all the operating expenses, to pay the notes and have enough green cold hard cash left over in order to pay the owner a reasonable salary.

That’s it in a nutshell; most small  companies  just can’t  succeed  because they are not feasible to become a viable profitable operation from day one .

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Potential Problems and Company Objectives: First direct and rank your Potential Problems in your Company Operations:  Cash Flow, Market Changes, Competition, Costs, Distribution, Productivity, Employee Turnover, Regulation, Market Acceptance, Pricing, Quality, Capital, Service, Control Systems and Facilities are some of the areas you should examine in identifying potential Problems.  With your Problems identified and ranked in importance and severity, you can develop Company Objectives you aim to obtain.  These Objectives should strive to minimize and manage the identified Potential Problems, while emphasizing your Company’s Strengths.

Risk Analysis: Building on your Potential Problems identified in Section One, this Analysis produces Expected Risks.  Look at Litigation Threats, Liabilities, Regulatory Issues, Major Risks and Problems and answer the following questions:  When are Problems expected to occur?  What can you do to mitigate the potential risks and problems?  How will you deal with these problems?  The last part of the Risk Analysis looks at how you can turn these problems into opportunities, which parlays into the next Section.

Company Strategies, Strategic Tactics and Strategic Programs: First develop your Strategies, then the relating Strategic Tactics and then the resulting Strategic Programs.

• Strategy is Focus.  Strategy consists of key factors that distinguish your Company and are most expected to contribute to your success.  It is important that your Company Strategies complement each other so you are not sending your business in separate directions.
• Tactics are used to implement strategies and relate to a specific Strategy.
• Programs are specific business activities which have concrete dates, assigned responsibilities and developed Budgets.  Programs relate to Specific Tactics of a Specific Strategy.

Sales Strategy: Remember that sales close the deals which Marketing opens.  Sales are dealing directly with your Customers.  Develop the Sales Strategy as it specifically relates to the Marketing Strategies you have set forth.  identify and develop the different sale methods and channels you will use to sell your Products and Services.  Determine your Sales Goals and your Sales Process.  Develop an effective Salesperson Training Program and Compensation Structure.  You should also look at order processing optimization, sale milestones expectations, price maneuvering, sales leads propagation, distributor roles; credit and collection policies; how the Internet will be utilized; and so forth.

Sales Programs: After developing your Sales Strategies, it is time to define your resulting Sales Programs.  The Sales Program addresses how your Sales Strategy will be implemented.  Once implemented, you should have systems in place to measure the Strategy Implementation and support your sales efforts.

Strategic Alliances and Joint Ventures: Define your Keystone Strategic Alliances and Partnerships.  Identify and develop Co-Marketing and Co-Development Opportunities; Product Help; Commission, Cooperative and Product / Service Agreements.  Is the fate of your Company tied to another Company?  Explain how these Alliances help your Company and any integral risks.

Operating Budget — Rolling Monthly Outlook (Yearly Basis): The Operating Budget is a Planning and Control Mechanism which helps you develop the next section, the Sales Forecast.  It should be on a Rolling Basis, Outward looking for one year and the format on a Monthly Basis.  Rolling Basis means after each quarter you Budget for the next three months.  The Budget should be twelve months forward looking.  You should have a Target and Actual Column so you can track results and adjust throughout the year as necessary.  Your Operational Budget should directly reflect your Strategic Planning Goals.  Determine whether it is best to use a Top-Down, a Bottom-Up or Blended approach for your Operational Budgets.  Ask yourself:  How will your Budget be used as a Control Measure?  How will your Budget be used to judge Company, Management and Key Employee Performance?  Your Budget is a of value tool to use for Employee Management, Education and Delegation; Managerial and Executive Goals.

Sales Forecast: Based upon your developed Sales Strategy and Programs, along with your One Year Operational Budget, develop a Five Year Projected Sales Summary Forecast.  This Forecast, in turn, will be used to develop your Detailed Profit & Loss Statement in the Financials Section of your Business Plan.  If you are an existing business, be sure to highlight your Historical Sales Trends going back three years.  It is important to show how you will fulfil your Annual Sales Volume Goals, and the Assumptions used to develop the Sales Forecast.  What Growth Rates are you projecting and expecting for your most Vital Products and Services?  What are the major driving forces behind the Forecast?  Is your Sales Forecast believable?  What risks are involved?  It is very important to show how your Sales Forecast relates to your Market Analysis, Target Market Segments, Sales Strategy and Marketing Strategy.   This ensures your Marketing Plan is a direct influence on your Strategic & Sales Plan, resulting in a Synergistic and Focused Company-Wide Strategy.

Milestones Table: Provide your Future Company Goals, Milestones and Strategies, along with your Marketing and Sales Program rollouts.  For each Milestone Event provide:  Quantitative and Qualitative Descriptions; Start and End Dates; Budget Numbers; Manager and Department Responsibilities. During the Milestone Table Development, it is important to answer the following key questions:

• What are the decisive Checkpoints as your Business develops?
• What specific Milestones will mark the lowering of risks due to the increased viability of your Company?
• If you need to deviate from your Plan, can your resources surmount these plan variations?  What contingencies are built into your Strategic Plan?
• What Systems are in place to gauge your Company’s progress in achieving the prescribed Milestones?
• How are your Milestone Analysis & Goals an integral part of your day to day Management and Planning Process?

Control Mechanisms: What Mechanisms for Control of each critical Skill and Resource are available to you?  Is direct ownership necessary for your Resources and Skills or can they be Outsourced and at what cost savings?  How can you build upon Incentives for Cooperation with your critical Resource and Skill Providers; what are the Benefits?  These are just some of the questions to address when identifying Control Mechanisms for your Strategic Plan’s Resources.

Strategic Planning Advisors: Strategic Planning is such an important part of running a Successful Business, we highly recommend  to retain a competent team of Professionals, Advisors, Experts and Consultants.  An Experienced Business Consultant can be a very important part of your Strategic Planning Team, ensuring your Strategic Plan is not just effectively developed, but most importantly, effectively implemented throughout your Company Operations.  After your Strategic Plan is implemented, an experienced Business Consultant can also help you ensure the Strategy stays on track, reaches its goals and / or is adjusted as necessary due to market changes and unforeseen problematic events.

In conclusion, a Successful Strategic and Sales Plan starts with your Products and Services Development, then moves into your Marketing Analysis and Plan Development; this in turn, is a direct influence on your Company’s Strategic Plan.  Flow Charts reveal these important development steps and their relationships:

Products and Services Development => Market Analysis and Segmentation => Market Trends => Market Growth => Competitive Analysis, Positioning and Edge => Marketing Strategy:  Positioning, Pricing, Promotion and Distribution Strategies => Marketing Strategy Profit and Loss Projection => Marketing Programs = An Effective Marketing Plan.

Marketing Plan => Strategic Potential Problems and Risk Analysis => Company Strategies, Strategic Tactics and Strategic Programs => Sales Strategy => Sales Programs and Alliances => Company Operating Budget => Sales Forecast => Milestones and Control Mechanisms = Successful Company Strategic & Sales Plan.

Company Strategic and Sales Plan => Company Profit and Loss Statement Projections = Believable Financial Forecasts.

About the WRITER

Frank Goley is a Business Consultant for ABC Business Consulting and has been helping companies to succeed for many years. He is an expert in developing business plans, marketing plans, funding plans, strategic plans, turnaround plans and project specific business plans. Frank is also a business coach and business turnaround consultant . Frank is author of The Comprehensive Business Plan Workbook – A Step by Step Guide to Effective Business Planning, and he has over 30 published articles on business success strategies. He also writes the Business Success Strategies blog.

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A business consultant can come up with a strategy for cutting costs. Companies need to be able to keep their profits up and losses to a minimum. There are ways to cut back and save thousands, the key is knowing where to look. A consultant can look at every area imaginable and see which areas the company would benefit from is cost with reduced.

Having a sales strategy is also critical. A company has to know what to sell, who to sell to and how much to sell a product for. A consultant can look at how much it costs to provide a product and make sure that it is priced appropriately so that the company makes a profit. Sales are crucial to the growth of a business.

There are many things to keep in mind when expanding . Expansion is a huge decision and a company needs to make sure that they can benefit. A business consultant can do research and see if the location the company will be located in is profitable. If the expansion is taking place within the company, with no relocation, the consultant will make sure that they business can stay afloat.

Business consultants can also come in and figure out funding strategies. If a company needs to borrow money for a project, the consultant can make sure all of the essential paperwork is done. Every lender will require something different or their rules may be different. This can be a lot to keep up with. A consultant can treat every aspect of that.

When it comes to strategizing, business consultants are the best. They will look at the situation, find the pros and cons, and then put their strategy into motion. This can be a huge stress reliever and can save the company valuable time.

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I was in Los Angeles last week, working with a large association, on a strategic plan for their organization. It was the beginning the a process to create a high-performing organization in less than a year. A definite procedure of the First Five Percent is to enlist as many individual feasible from the very start.. You never know who has the good ideas. The more people you engage early on, the quicker you can identify the best thinking and the hidden resources.

There were 300 people in the room, including board members, chapter leaders, and local officers. The agenda was flexible. To ensure people would be involved, I was prepared to go into a number of directions, depending on the results from the first exercise. The first question I asked was: “Think about two years down the road and where you want the association to be. Tell me the specific changes you want to see and your measures of success.

They worked on this question for 60 minutes and wrote down their responses on flip chart paper. Each group then reported out. I then asked them: What did you hear yourselves say? Did you have a meeting of minds?

Everyone called out what they heard. “Increase membership.” “Fill our vacancies,” “Make a new product..”Their juices were flowing.”

“How would you measure success”? I inquired. They shouted out what they’d heard. I listed four specific measures of success. I asked if they all agreed. Everyone raised their hands.

They left for a quick lunch break. I planned my next step, while the room was silent.. I examined all their briefs, and concluded all I have to do is to take advantge of their drive.. I indexed 12 goals in my catalogue. The aims touched on subjects in relation to “recruit more members” or ” escalate our presence in the political arena.. I posted these goals on the walls of the room. When they got back from their lunch break, I said: “Now look around the room. These are your aims. Find the goal you feel most passionate for. Go stand by that goal. If you feel passionate about another goal not listed, there are blank pieces of paper.

The group divided itself into teams around each goal. I required every group to execute a procedure for every goal to be followed by a demonstration.. While the reporting is in progress, I made remarks about major points to be settled and expedited an exchange of ideas for each.. When people drifted off topic, I invoked the two-minute rule Anything important can be said in two minutes and they got back on course. We wrapped it up at 4 p.m.

I asked people to tell me what they liked about the meeting. ” I was thrilled,” somebody said.. “Wonderful ideas” A lot of people made observations. ” Your conduct,” somebody said. “The two minute rule!” Several shouted. “We are very glad to start our group,” a woman said..

“And what would you like to change?” I inquired.

That we have to depart!” a man shouted. Everyone laughed.

About the Author: Eric Douglas is LRI’s senior executive business consultant with expertise change management, leadership development, and strategic planning. His latest leadership book is called Leading at Light Speed.

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