managing with your business plan

Copyright ©Nick Bettes Consulting www.nickbettes.co.uk

Managing Against a Plan

Business Planning


Agenda

• Business surgery

• Workshop

– Managing against a plan

• Action planning


Course Overview and Positioning

MARKETING SALES OPERATIONS MONEY

SYSTEMISATION AND RESILIENCE

BUSINESS PLANNING

VALUE

BUSINESS DIRECTION

PEOPLE


Learning Objectives

• Workshop objectives

– To explain why a disciplined management routine is the most effective way to run a business and how to achieve this

– To explain how to organise effective monthly management meetings


Why Have a Management Routine?

• Improves your control of the business

• Supports and encourages delegation

• Improves internal communication and employee engagement

• Provides consistency and stability to employees

• Sets an example of your values

• Makes it more likely that you will achieve your planned objectives


What Are The Prerequisites?

• A plan!

• Quantitative targets – budget and KPIs

– Systems to report these

• Accountability

– Job descriptions

– Individual objectives

– Clear reporting lines


The Annual Management Cycle

ANNUAL QUARTERLY MONTHLY WEEKLY


The Annual Management Cycle

ANNUAL QUARTERLY MONTHLY WEEKLY

Update business plan & set budget & KPI targets

Managementmeeting

Operations meeting

Appraisals

121s & performance reviews

Reviewperformance v objectives

Agree objectives next 12 months

Team meeting


The Monthly Management Meeting

• Purpose

– Check the business is on track v plan and take corrective action if necessary

• Internal improvements

• External (strategic) adjustments

– Reinforce and increase delegation

• Coaching

– Internal communication



• Agenda

– Progress on actions

– Finance

– Sales

– Marketing

– Operations

– Projects

– AOB


The Monthly Management Meeting• Management reports

– Trended over time– Smoothed– Compared with budget or

history– Pose longer-term

directional questions

• Detailed reports– List– Snapshot– Answer historical specific

questions

Sales

Name Value Profit

Sale 1 Smith £ 10,000 40%

Sale 2 Jones £ 2,000 30%

Sale 3 Bloggs £ 4,000 20%

Sale 4 Finney £ 3,500 25%

Sale 5 Lofthouse £ 12,000 60%

Sale 6 Matthews £ 8,400 23%

Sale 7 Charlton £ 2,500 46%

0

5

10

15

20

Income and Profit

Sales Profit



• Finance management reports

– P&L

– Working capital

• Finance detail reports

– Job profitability

– WIP

– Debtors

– Detailed transaction report



• Sales management report– New enquiries volume and value

– Quote bank volume, value and days

– Sales volume and value

– Order book volume, value and days

– Conversion rate

• Sales detail reports– Quote list

– Order list



• Marketing management report

– New enquiries source, volume and value

– Marketing spend

• Marketing detail reports

– Google analytics report

– Cost per enquiry per source

– Enquiry list



• Operations management reports

– Productivity

– Utilisation

– Quality/service

• Operations detail reports

– Job profitability

– WIP



• Individuals responsible prepare and circulate reports

• Manage the time

• Use management reports to identify issues

• Use detail reports as required to investigate

• Assign actions (who, by when)

• Circulate action list immediately


Action Planning

• Suggestions

– Implement your annual planner

– Review the way your management meetings work