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Actual for You - Tips for Better Strategic Planning in the Smaller Company
Are you good, great or awesome?One of the early lessons I learned about speaking (and business as a whole) was from Lou Heckler.Man, talk about a great last name for a humorist, huh?Anyway, here’s what Lou told me in 2003. I never forgot it:There are three kinds of speakers in the world.First, there’s a GOOD speaker. After he’s done with his talk, audience members come up to him, shake his hand and say, “Good speech. Thanks a lot!”Then, there’s a GREAT speaker. After he’s done with his talk, audience members come up to him, shake is hand and say, “Great speech! That story about that guy you met on th
Given these three key differences, here are some important tips for making the strategic planning process e
I've been getting lots of email from my readers lately. And one thing that I hear often is that people need more sales leads. In order to generate sales leads, you need three things: A written profile of your target prospect, A list of suspects containing potential prospects, A method of reaching your sales prospects. In this article, I am going to discuss eight proven methods of reaching your sales prospects. Complementary Partner Referrals I put this sales lead generation method first because this one generates the highest quality sales leads. How you do this depends on the marke
There are several key differences between doing strategic planning in a business with 10 employees and one with 100 employees. First, the team is likely to be smaller, and contain people with greater front line responsibility. The sales manager might be the only salesperson, and the operations manager probably does a significant part of the operation. Even the CEO in such an organization is likely to have a big chunk of time required for routine sales, operations, and financial functions. It's also quite likely that there is no distinction between sales and marketing in the smaller company, and that some overhead functions, like IT, finance and HR, are largely or completely outsourced.
The second key difference is that the smaller company obviously has less resources to invest strategically, in terms of both time and money. This limits the strategic options available, which is a negative, but also makes the necessity of focus easier to understand, which is a great positive.
The third important difference is the availability of resources for the planning process itself. While it might be a good choice, it is a significantly more difficult investment for a small company to invest a few days of management time and thousands of dollars in any process.
Given these three key differences, here are some important tips for making the strategic planning process ef
Morale is deceptively important in the running of an efficient call center. The reason it is deceptive is because while most bosses acknowledge the relationship between morale and productivity, few call center bosses are able to accurately pin down a decrease in productivity as being directly related to a lowered morale. The reason it is important is the same; namely that a higher morale means happier workers, which in turn leads to an overall increase in call center productivity.What does it mean to have high productivity in a call center? Well for starters it means a higher level of customer focus, as call center agents with higher moral
There are several key differences between doing strategic planning in a business with 10 employees and one with 100 employees. First, the team is likely to be smaller, and contain people with greater front line responsibility. The sales manager might be the only salesperson, and the operations manager probably does a significant part of the operation. Even the CEO in such an organization is likely to have a big chunk of time required for routine sales, operations, and financial functions. It's also quite likely that there is no distinction between sales and marketing in the smaller company, and that some overhead functions, like IT, finance and HR, are largely or completely outsourced.
The second key difference is that the smaller company obviously has less resources to invest strategically, in terms of both time and money. This limits the strategic options available, which is a negative, but also makes the necessity of focus easier to understand, which is a great positive.
The third important difference is the availability of resources for the planning process itself. While it might be a good choice, it is a significantly more difficult investment for a small company to invest a few days of management time and thousands of dollars in any process.
Given these three key differences, here are some important tips for making the strategic planning process e
Direct sales or network marketing is providing many people with financial freedom. Robert Kiyosaki, bestselling author of Rich Dad Poor Dad, considers direct sales as the "PERFECT BUSINESS". It is the perfect choice because the company provides you with the skills needed to become successful. There is a low start up cost, usually less than $500. You work as a part of a team rather than being completely on your own.Business skills are the key to making money. Your knowledge of your business will increase your success. By working in direct sales, you become part of a team. This works completely to your advantage because you have help. There ar
The second key difference is that the smaller company obviously has less resources to invest strategically, in terms of both time and money. This limits the strategic options available, which is a negative, but also makes the necessity of focus easier to understand, which is a great positive.
The third important difference is the availability of resources for the planning process itself. While it might be a good choice, it is a significantly more difficult investment for a small company to invest a few days of management time and thousands of dollars in any process.
Given these three key differences, here are some important tips for making the strategic planning process e
Details can kill your web business. And I'm not talking about details killing your business from the standpoint of being careless about them. While it's true that being careless can hurt your business, everybody knows that (even if they don't always put it into practice).The way I'm talking about that details can kill your business is if you focus too much on them.Say what?How on earth can focusing too much on details hurt your business?Ever tried to walk on a railroad track?When I was a kid, my aunt and uncle had a house right next to a railroad track. My uncle once challenged me to walk on the track without falli
The second key difference is that the smaller company obviously has less resources to invest strategically, in terms of both time and money. This limits the strategic options available, which is a negative, but also makes the necessity of focus easier to understand, which is a great positive.
The third important difference is the availability of resources for the planning process itself. While it might be a good choice, it is a significantly more difficult investment for a small company to invest a few days of management time and thousands of dollars in any process.
Given these three key differences, here are some important tips for making the strategic planning process e
Every firm looks out for free business leads since they are free of cost. But getting free business leads requires a lot of effort on your part. Firstly, you have to define the business. Defining one’s business accurately is the starting point of getting business leads. It is the prime requisite for selecting the right opportunities and steering the firm in the right direction.In addition, to make sense out of the multifarious changes taking place in the environment, to understand what a possible benefit is and what could be a hidden threat, a firm must first understand what business it is in, exactly. While preparing a business lead, a firm
Given these three key differences, here are some important tips for making the strategic planning process effective in a smaller organization:
1. Keep the team small — while 6-8 people is ideal for a 100 person company, 3-5 is likely to be better for smaller companies. Make sure your team represents the three points of the Tension Triangle - the market, finance and operations. Also, of course, make sure the CEO (or in some cases, owner) is fully involved in the process.
2. Don't have too many market segments — we routinely work with 5-10 segments in most client companies, but 3-5 is a good number in smaller companies. Remember, while you lose some ability to focus on specific customer behaviors, fewer segments also means less time is necessary for the planning process. A benefit of reducing the number of segments you use is that you may end up forcing yourself to focus more.
3. Skip some of the less critical parts of the process — in past years, we have skipped some parts of the process with clients in order to focus on the most critical issues. While this can be dangerous, you might consider not doing the following exercises in a smaller company: Supplier Market Assessment (1.3), Significant Regulations (1.6), Other Assumptions (4.3), How Can We Shoot Ourselves in the Foot? (5.3), and Mission Statement (6.1). You can also save time by combining Measures of Success (2.3) with Goals (6.2), and reducing the number of Strategic Issues (5.2) you examine.
4. Understand you will have next year to tackle another set of issues — It's a good idea to
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