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Strategic Planning

Strategic Planning. Defining and Creating an Exceptional Company Phillip Rosebrook JR, CR Business Mentors. Imagine. 1 year 3 years 5 years 10 years. … Planning to Fail. What are you doing substantially different this year Are you experiencing the same day

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Strategic Planning

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  1. Strategic Planning Defining and Creating an Exceptional Company Phillip Rosebrook JR, CR Business Mentors

  2. Imagine • 1 year • 3 years • 5 years • 10 years

  3. … Planning to Fail • What are you doing substantially different this year • Are you experiencing the same day • Life is a series of choices - so is your business • There is very little that you have to doYour position is the result of your plan or lack of

  4. Proactive Businesses • Synergistically working toward shared destination • Lack of plan forces subjective & reactive decisions

  5. What You Want to be When You Grow up? • Benefits • Communicated • Measured • Implemented • Coached • Celebrated • A comprehensive Approach

  6. Your Business is Not about Jobs or Accounts • Big picture framework • Details paint the picture • Predictable decisions

  7. Components of an effective plan • Destination • Partnership alignment • Vision • Strategic Goals • Financial and objective measurements

  8. Plan Components • Cash plan • Personnel plan • Operating budget • Staff development • Marketing action plan • Plan review and realignment

  9. Destination • Owner motivations • What is truly important to you? • What does it look and feel like - more detail the better • When things are working well…

  10. Partnership Alignment • Values • What are you working for? • Imagine your life in 10 years • Are you on the same page • Job descriptions • Compensation • Skills and needs • Exit plan and strategy

  11. Vision • People want to be a part of something bigger • More clearly defines destination • Easily communicated to your staff • Potentially more subjective than goals • How are you perceived

  12. Strategic Goals • Core goals about 5 total • Goal definition • Longer term big picture with short term component • Focus on core business activities and needs.

  13. Modeling your Organization • Production capabilities • Gross and net margins • Key operational expenses • Capital requirements

  14. Financial and Objective Measurements “In order to effectively manage you need to have effective measurements.” • Financial understanding required • Dynamic measurements needed • Objective measurements prevent subjective decisions • Roadmap to your destination • Individual, team, departmental expectations • Enables easy performance management • Allows you to model your company • Core of effective management

  15. Cash Planning • Understand the turn on receivables and how to turn revenue to cash • Funding Options • Internally funded • Bank or other funding

  16. Personnel Plan • Hire to your weaknesses • Look to your business model • Financially justify each position • Explore profiling to manage “fit”

  17. Operational Budget • Start with goals and build backwards • Expectations • Marketing - 2%-5% of revenue • Sales and production - less than 10% • Total overhead - 25%-40% • Equipment, vehicles, facilities need to be justified financially • Rent, lease, own?

  18. Staff Development • Formal training - plan training activities and opportunities - strategic not reactive • Ongoing internal training program • Scholarships and outside oportunities • Upward mobility & develop a deep bench

  19. Marketing Action Plan • First step is goal setting • Match actions to goal acheivement • Set budget based on expectations - 1.5% -5% or revenue • Team approach not department • Sales-based culture • Measure and reinforce • Create a strong online presence

  20. Plan Review and Realignment • Bump into - review often • Market conditions • Quarterly review • Annual planning

  21. Implementation Action Plan • Planning is good - Execution is essential • Unwrap and plan and prioritize • Strong communications • Short term victories with long term focus • Expectations, modeling and coaching • Enjoy the journey • Plan and personnel assessments • Don’t be afraid to make adjustments

  22. Constraints of Growth • Organizations are limited not by strengths but greatest weaknesses • Plan needs to address and shore weaknesses • Avoid hiring to strengths • Make your plan realistic • Cash considerations

  23. Effective organizations • Proactive • Strong leadership • Balanced approach • Clear communications • Coaching and celebration

  24. Adaptation • Maintain focus • Things change • Market conditions • Cash flow • Goal when things slow

  25. Managing Changes • COMMUNICATION • What stays the same • Strategically plan the changes • Create contingencies • Know when to walk away from your plan • LEADERSHIP

  26. Strategic Plan Summary • Begin with the end in mind • If you are not in control of your company - someone else is • Proactive planning creates synergy • A company or a job? • Make your time count

  27. Thank You Phillip Rosebrook JR, CR Phillip@businessmentors.net

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