focus: 5 secretsto effective business planning - the secrets
DESCRIPTION
Business Planning is IMPORTANT, it's been BROKEN, It's EASY and it can be FAST! FOCUS31 guarantees it! In previous segments we have identified; -The 5 reasons business owners don't Business Plan -The 5 reasons why Business Owners need to Business Plan -The 5 Benefits of Effective Business Planning. In this segment we share our 5 Secrets to Effective Business Planning (See our YouTube video as well at http://www.youtube.com/watch?v=vWGA6Wpcsbk). Here are the 5 Secrets to Effective Business Planning: 1) Have a Vision Statement that simply states "how much, by when, doing what, for whom, in what geographical area". 2) Have a Mission Statement of 4 - 8 powerful words that answer the question "why does this business exist or what do you want the customer experience to be?" 3) Have Objectives that set the parameters for success for the fiscal year and measure yourself against them 4) Have Strategies, BHAGs (Big Hairy Audacious Goals) plus 3 - 4 ways you can begin to progress your business towards the BHAGS 5) Have Action Plans, project work that implements the business plan Busines Planning is IMPORTANT, it's been BROKEN, it's EASY and it can be FAST! FOCUS31 guarantees it! Learn how to engage in effective Business Planning with FOCUS31. Email [email protected]TRANSCRIPT
FOCUSTHE SECRETS
!
5 SECRETS TO EFFECTIVE BUSINESS
PLANNING
Secret #1
Have a VISION Statement
Answers the question…
What Are You Building”
In the form of
• How much? (Revenue)• By when? (3 years)• Doing what? • For whom? • In what geographical
location?
Secret #2
Have a Mission Statement
Answers the Question…
Why does this business exist?
4 – 8 powerful words that define the customer experience or what it will become and aligns the employees to it.
Secret #3
Have Annual Objectives
Answers the Question…
What will be measured?• Revenue• Profit• Net New Customers
• Verb + Noun + Date .
You must measure them!
Secret #4Have Strategies
Answers the Question…
How will this Company be built?
= BHAG + 3 or 4 ways to progress the Company towards their achievement
Have 4 – 5 BHAG eg.• Perfect Business Planning • Raving Fans• Employer of Choice
Secret #5
Have Action Plans
Answers the Question…
What work must be done?
Format of:
Verb +Project Name+ Due Date
Eg. Launch web site by 05/31/11
Other: • Max. 3/Quarter• Max. 9 at any give time
My Guarantee
1.Business Planning is IMPORTANT
2.Business Planning has been BROKEN
3.Business Planning can be EASY
4.Business Planning can be FAST
