business planning basics seminar

Welcome

Over the duration of this 2 hour seminar you will:

1. Identify the top 3 key issues and opportunities for your business

2. Develop a clear Now and Where for your business3. Build a One Page Business Plan4. Learn a range of problem solving and strategy

development tools

Page 1

Now – Where - How

Page 1

Now – Where - HowEXERCISE

• Where are you NOW in regard to the below Factors?

FACTORS Where are you NOW?

Your Customers

Sales, Costs & Profits

Your Products / Services

Your Pricing

Marketing & Promotion

Your People

Your Role

IndustryPage 2

Now – Where - HowEXERCISE

• WHERE do you want to be in regard to the below Factors?

FACTORS WHERE do you want to be?

Your Customers

Sales, Costs & Profits

Your Products / Services

Your Pricing

Marketing & Promotion

Your People

Your Role

Industry Page 3

Strategic Planning Model

SUSTAINABLE COMPETITIVE ADVANTAGE

MARKETING STRATEGY

OPERATIONS STRATEGY

INNOVATIONSTRATEGY

HUMANRESOURCESTRATEGY

FINANCIALSTRATEGY Page 3

Magic Wand

If you had a Magic Wand and

you didn’t have to worry about

the how or the cost involved,

what would you change about

your business?

Page 4

Magic WandEXERCISE

• Record below what you would change.

MAGIC WAND CHANGES

1. 14.

2. 15.

3. 16.

4. 17.

5. 18.

6. 19.

7. 20

8. 21.

9. 22.

10. 23.

11. 24.

12. 25.

13. 26.

Page 4

MindmappingEXERCISE

• Mindmap a key issue or opportunity

Page 5

Pareto Analysis

• Use this tool when you need to sort out the vital few from the trivial many

• It is based on the premise that 80% of problems are due to 20% of the possible causes.

Examples:

• 20% of your customers provide 80% of your sales

• 20% of your products provide 80% of your sales

• 20% of your products provide 80% of your problems

• 20% of your customers provide 80% of your problems

80%

20%

Page 6

Issue Ranking

EXERCISE

• Select issues that you feel are the most relevant from the previous exercises and score them out of 10, against the two factors.

IssueOpportunity

ForImprovement

Ability to Support the

SCATotal Score Comments

Example Quality 6 7 13 Has been a focus in the past

Page 7

Force Field

A Force Field Analysis enables you to identify the action plans you need to put in place to remove any of your barriers.

A Force Field takes your strategies into action.

Page 8

Force FieldEXERCISE

• Select the Number 1 issue from your previous Pareto process

Page 8

Strategic SWOTA Strategic SWOT Analysis is a terrific way to develop strategies

Page 10

One Page Plan

T I M I N G - Who & When ByA C T I O N P L A N SS T R A T E G I E S

K P ManufacturingSALES PLAN

Date Revised: 21 October 2013

W H E R E N O W

• Sales $1.9 million• No sales person• Order taking culture• Average sales $15k

• Sales $3 million• Two full time sales person• Problem Solving Culture• Average sales $25k

SALES TRAINING

KEY ACCOUNT

COMPETITORS

SOCIAL MEDIA

1. Implement a new CRM system

2. 4 day SPIN course for staff

3. 1 Page Plan top 20% clients

4. Alliances Plan

5. Target exposed Clients

6. Regional selling events

7. Video online for all products

8. Connect via LinkedIn to all customers/ prospects

1. MP Immediate

2. JS November

1. JS October

2. JS October

1. BM January

2. JS November

1. JS January

2. JS March

Page 12

One Page Plan

EXERCISE

• Develop your One Page Business Plan

T I M I N G - Who & When ByA C T I O N P L A N SS T R A T E G I E S

W H E R E N O W

Page 14

Covey’s Time Management Matrix

URGENT NOT - URGENT

CrisisPressing ProblemsDeadlines

Build RelationshipsPlanningStrategyTrainingFitnessFamilySelf

InterruptionsSome phone callsSome mailPressing MattersPopular ActivitiesMeetingsReports

TriviaSome MailSome phone callsPleasant actionsTime Wasters

1 2

3 4

IMPORTANT

NOT

IMPORTANT

Page 15

DVP Change Formula

D V PDissatisfaction Vision Plan

WHY? WHAT? HOW?

Example:5/10 2/10 1/10

= 10/1000 = 1%

What can be done to influence the improvement in the Change Potential?

Page 16

Small Business Mentoring Service

Business mentors help you to identify a clear direction for you and your business.Business mentors can also advise you on how to:

conduct market researchprice and/or cost your products or servicesdevelop an effective marketing strategyuse other business management tools

To arrange a session with a business mentor go to:www.sbms.org.au

Visitbusiness.vic.gov.au/events

for more workshop information

Discussions and Questions

Thank you for attending, what is your Number 1 take home lesson?