Posts Tagged ‘ planning ’

No Business Plan, No Problem!

If you’ve come to this place in time of your organizational life cycle without a documented plan, and not sure how to begin the process in mid-stream; no worries! I am presuming, of course, that you are not on the brink of bankruptcy due to the lack of planning and review.

My first suggestion is that you clean off your desk to begin setting up short term goals and objectives that can be implemented immediately: today or tomorrow. Document your end of year targets:

  • gross sales
  • prospecting growth (new accounts)
  • marketing plan
  • promotional budget
  • operating expenses

In your review and analysis of the short term goals and objectives, constantly review new strategies:

  • prospects
  • cross sell existing customers
  • marketing and promotional avenues with best ROI
  • expenses in your operating budget.

Over the next several months you will also reflect and establish the long term organizational issues, which I tend to do in reverse order:

  • succession plan
  • 10-year vision
  • 5-year vision
  • 3-year vision

Be sure to establish earmarks on your long term plans. Keep in mind that these plans will get worked into the short goals and objectives. They may come to fruition, or be adjusted to accommodate new theories, technologies, and opportunities.


Adjusting Your Business Plan

You rang in the New Year. Au Lang Syne! You shook off your frustrations and losses, and set your sights of a prosperous New Year!

In setting your annual business plan, it is important to establish your short term (six to twelve months) goals and objectives (G&O’s). But you must also monitor and set earmarks against these G&O’s to better plan the longterm. It is the longterm (3-5-10 years) that exercises the macro plan and sets the corporate “big picture” vision.

If this is your first year executing your business plan – Congratulations! Be sure to monitor and analyze the G&O. Use this as a learning experience. You’ll gain insight to the realistic nature of your expectations. Before your re-track your steps, remember that sometimes it’s just a tweak that’s needed. “Don’t throw out the baby with the bath water!” This is a live and learn exercise.

If the plan has been operating for sometime, continue to monitor G&O and press for new methods and better results. Optimize your core assets: staff, equipment, and time. The following are some good concepts to consider when gauging the analysis of your 2012 Plan:

  • Have revenues measured up to expectations?

  • Is Operations and Technology, Sales and Marketing, and Administration holding true to their G&O’s? (Be sure you are receiving goals and objectives from every manager of staff and systems, and that they are in line with the organization!)

  • With the information you have through this analysis, what steps can be done to enhance performance over the balance of the year?

The first impact on your business plan is that you are being attentive! Employees (if you are blessed with them) may have done the exercise and put their respective G&O in the desk draw. Once they realize you are paying attention, they will be more attentive to their results and contributions.

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