creating strategy in the small business
TRANSCRIPT
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Creating strategy in a small businessEd Kless@edkless
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How? Vs. What Matters?
How do you do it? What refusal have I been postponing?
How long will it take? What is the commitment I am willing to make?
How much does it cost? What is the value of it to me?
How do you get ‘those people’ to change? What is my contribution to the problem?
How do you measure it? What is the judgment I need to make?
How have others done it successfully? What do we want to create together?
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The modified Seven S Model
Strategy Staff
Skills
Structure
Style
Systems
Shared Vision
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The modified Seven S Model
Strategy Staff
Skills
Structure
Style
Systems
Shared Vision
@edkless #accountexUK
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Strategy beliefs versus realities
• Strategy is about analyzing your situation
• Strategy is planning
• Strategy is about what to do
• Strategy is more creative than analytical
• Strategy is execution
• Strategy is more about what to say “no” to
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Believed MOASQ
How much revenue do we need to make (in the time period for the plan) and how
are we going to achieve it?
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Five years of history
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FY-4 FY-3 FY-2 FY-1 Current £-
£20,000
£40,000
£60,000
£80,000
£100,000
£120,000
£140,000
£160,000
£100,000
£115,000
£121,900
£132,871
£139,515
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1001 days of history
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1 2 5 4 9 7 3 9 7 1 2 1 1 4 5 1 6 9 1 9 3 2 1 7 2 4 1 2 6 5 2 8 9 3 1 3 3 3 7 3 6 1 3 8 5 4 0 9 4 3 3 4 5 7 4 8 1 5 0 5 5 2 9 5 5 3 5 7 7 6 0 1 6 2 5 6 4 9 6 7 3 6 9 7 7 2 1 7 4 5 7 6 9 7 9 3 8 1 7 8 4 1 8 6 5 8 8 9 9 1 3 9 3 7 9 6 1 9 8 50
20
40
60
80
100
120
140
160
Days of Life
Hap
pine
ss o
f Goo
se
Christmas
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Real MOASQ
How much value are we going to create for our customers (in the period) and how
are we going to do that?
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Strategy is the rare and precious skill of staying one
step ahead of the need to be efficient.
- Dr. Jules Goddard
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Three rules of business
• Better before cheaper
• Revenue before costs
• Price before volume
• People before process
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Strategy
Budgeting
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PotentialPast
Competition
Plan
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Strategic Triangle“Be better than the competition at what is important to customers.”
Original 3C concept developed by Dr. Kenichi Ohmae
Customer
Company Competition
Need
s
Differentiation
Needs
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The oldest and most basic strategic tool
S W
O T
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Another simple, but better tool
Start
Stop
Continue
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We have known for years that:
Colleague satisfaction
Customer satisfaction
Financial performanc
e
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Some questions for strategic planning
1. How can we educate our people better than our competition in both technical and people skill areas so that they will be more valuable than their counterparts at other companies?
2. How can we become more valuable to our customers by listening to the them and understanding their market, and applying the two together?
3. What three things would you change about your company’s practices and policies?
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Marcus Buckingham’s 12 Statements
• I know what is expected of me at my job.• I have the materials and equipment I
need to do my job right.• I have the opportunity to do what I do
best every day.• In the last seven days, I have received
recognition or praise for doing good work.
• My supervisor seems to care about me as a person.
• There is someone at work who encourages my development.
• At work, my opinions seem to count.• The mission/purpose of my company
makes me feel my job is important.• My co-workers are committed to doing
quality work.• I have a best friend at work.• In the last six months, someone has
talked to me about my progress.• In the last year, I have had opportunities
to learn and grow.
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Fred Reichheld’s Ultimate Question
What is the likelihood that you would recommend our product/service to a friend or
colleague?
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Okay, okay, but what do we measure
• NPS• HSDs• Value Gap
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What to Do Next
• If you are not going to commit to something, do nothing
• Research various strategic planning tools and decide to which one you can commit
• Commit! Commit! Commit!
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Ed Kless@edkless
thesoulofenterprise.com