mckinley plowman - strategic planning your business for maximum success!
TRANSCRIPT
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www.mckinleyplowman.com.au strategic planning for success!
Strategic Planning your Business for Maximum Success!
Alec Blacklaw Director Business Improvement & Strategy
www.mckinleyplowman.com.au
Commercial in confidence – Intellectual Property of Alec Blacklaw, McKinley Plowman.
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www.mckinleyplowman.com.au strategic planning for success!
Securing your Financial Future
Partnering with you to improve your business, maximise your profits, protect & grow your assets and invest the
balance for growth.
Pension Transfer
Specialist
Wealth Creation
CFO2goTax
Accounting
Finance
Business Improvement
& Strategy
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www.mckinleyplowman.com.au strategic planning for success!
Today you will learn
o Growing your business profitably and achieving greater certainty of outcomes.
o How to strategically increase the value of your business.
o Developing options to maximize the sale price & conditions.
o Accessing Business Growth Grants for the development of your business.
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Little tip’s to get the most out of todayo Consider everything is new if you are currently not doing it.
o Every business skill is learnable.
o If others have done it, you can too.
o Take action on the most important things that are critical for your success.
o Take away at least one thing and implement it!
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The best businesses have…o A clear strategic business plan that drives their objectives and
performance.
o A vision that connects with their team & clients.
o A clear point of difference and strong brand.
o An inclusive engaging culture.
o A high performing team.
o KPI’s for the critical success factors that drive the business performance – a visual dashboard.
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The importance of strategic planningo Provides direction (lighthouse)
o Helps organisations make the right decisions about resource allocations and priorities (management)
o To identify issues in the way of success (risk management)
o Ensures everyone rows the boat In the same direction (consensus)
o Ensures the right things are being measured (KPI’s)
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Designing your vision – things to considerMake it clear what you do… and what you don’t do!
o Clearly establish your ‘Point of difference’ (POD).
o Arouse curiosity – get attention, be memorable.
o Incorporate your mission, what you are famous for, how you will be known, including exit strategy,
the difference you make.
o Provides a base from which all strategic decisions can be made.
o ....Will ensure focus.
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Vision explainedo Where tomorrow begins.
o A realistic, credible, attractive future for your organization.
o Expresses what you and others who share the vision will be working hard to create.
o A carefully formulated statement of intentions that defines a destination.
o A necessary pre-condition for strategic planning.
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Common mistakes in planning• Too much gut feeling, not enough real data.
• Little analysis of competitive advantage.
• Too much enthusiasm for why the plan will work and not enough thinking about why it may not.
• Full of good ideas that are not always implemented.
• Underestimating the critical need for a competent management team.
• Failure to prove revenue projections.
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Trust
Rel
atio
nshi
p
Written
Telephone
Meet
Read
Listen
Meet
3 dimensions of effective communication and building trust
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Developing a clear point of differenceYour POD will…
o Solve a problem.
o Allow your audience to be or feel better off.
o Delivers loads of value and is premium/special.
o Creates a new need.
o That is different from your competitors.
So, that you do not have to compete on price
o Be memorable & connect with your target audience.
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Cultureo The glue that makes all the difference.
o That your target audience will connect with - & will position or reinforce your company and your brand.
o It’s for you to design otherwise you get what you deserve.
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A winning cultureo Is built on your core values that you define.
o The wind that drives your momentum and allows your business to be aligned for maximum performance.
o Is learned human behavior patterns.
o A big asset – not often on your balance sheet.
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Key performance indicators – measure what matters
Heard it all before?
o Understand Urgent vs. Important.o Manage & make the best use of your time- always.o Watch the score, trends, your dashboard.o Take corrective action quickly.
o Identify, understand and communicate your critical success factors with your team – no exceptions.
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3 things that mattero Objectives
– What– When– Whom
o Value to client– What– How I am better off
o Measures of success– Qualitative– Quantitative
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Growing your business profitablyo Design your trading and operations to deliver the objectives and
value you desire. Take control of the reins.
o All stakeholders to know your target audience – current and proposed. Shout it from the top- get alignment & buy-in.
o Know your margins from all products and services.
o Understand and work on those P & S that make you money.
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…with greater certainty of outcomes o Improve the average transaction value and how often
clients deal with you / develop return business.o Go deeper, not necessarily more clients.o Build trust & quality of relationship.o Improve the effectiveness and efficiency of everything you do.o Understand where the value
is and leverage consistently.o Build a business that does
not depend on you.
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Improving the value and options on any exit
o Understand where your value lies, supported by your critical success factors.
o A business that is not dependent on any one person, client, product or service. “Own your space – be a leader”.
o Protect the assets – get the right structure.
o Build your “key assets” into business systems and processes.
o Strong brand – patent, trademark, commercially own the segment.
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More on value upon any exito Multiple Distribution platforms – for your P & S.
o Maintain emotional connection with your target audience.
o Remain current and relevant – watch the scoreboard and keep an eye on the market.
o Documented succession plan – with options to cope with voluntary or involuntary events.
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Government grants for business growth
o The Business Growth grants matched $ for $ up to $20,000 on eligible business and activity.
o How you qualify.
Focus on your strategic plan and development of your business, market, research, marketing, branding, getting
the most out of your people, systems & processes and the Implementation of your strategic action plan.
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We look forward to hearing about your success.Alec Blacklaw – Business Improvement & Strategy
9301 2200 0408 [email protected]
A Complimentary Business Health Check for the first 5 people who get in
touch with us.