Posts Tagged ‘strategic planning’

The Benefits Of A Strategic Plan

Tuesday, July 27th, 2010

Leadership Workshop (3 of 12) - Sharpen the Focus

Leading at Light Speed is a must-have leadership book by Eric Douglas highlighting the 10 Quantum Leaps to build trust, spark innovation, and create a high-performing organization. Chapter 2 is all about Sharpening the Strategic Focus.

A strategic plan shows how to implement your vision and is divided into three parts: goals, objectives and actions.

Once you’ve defined the vision, you need to define the priorities for the organization in the form of goals and objectives. The desired amount of goals is approximately three or four. Too many goals will tend to blur the focus and make it hard to accomplish what you desire. After the organization has productively accomplished what they sought to with their priorities, they can then introduce more.

Mediocre leaders have long laundry lists of goals and priorities. Too many goals and priorities can have a negative impact on the focus and energy of the organization. One CEO had 14 goals for her company. When asked, she remarked: “It’s important to me that we have a goal that reflects everything we do.Sharpening the focus of an organization relies on the establishment of priorities, rather than the satisfaction of everyone’s pet project.

How do you define priorities? If you perceive the expansion of your organization, be sure to implement goals that will reflect this. Incorporate related objectives that will help to open new offices or introduce new products in order to ultimately attract more sales in that market. If your vision is to become more vertically integrated in the sources of production, then one goal might be to buy a manufacturing plant. The importance is in the clarity of the priorities. A priority should be isolated and addressed independently.

Objectives seek to define the initiatives and developmental points you need to reach in order to achieve your goals. Actions capture the specific steps, timetables and responsibilities for achieving the objectives.

The senior leaders of the organization should take responsibility to articulate the goals. Leaders need to be held responsible for refining the goals of their department and tieing them together with specific objectives and steps of action. This “cascade” effect enables every manager – and ultimately every employee – to connect what they do to the strategic plan.

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Loyal Customers Will Keep Coming Back and Your Business Will Thrive

Wednesday, March 17th, 2010

First sales are always more difficult than repeat sales.  So, small business owners are always looking to build a loyal customer base.  Regardless of what you sell, there are a lot of ways you can maintain a loyal customer base.  Here are some tips:

Stay Professional by Keeping Your Training Up to Date 

Never stop learning about what you are selling.  It is important to always be perceived as the expert in your field.  Since information is so readily available on the Internet, customers are becoming more and more knowledgeable every day.  It would not be good for your customer to know more than you do about something you are supposed to be an expert at.  So read the updates and take the courses you need to always be up to date on what’s going on in your industry.  Your commitment to lifelong growth will be rewarded by loyal customers. 

Solve the Problems Fast 

Customers rarely tell you straight out if they perceive an issue, so it is important to stay intuitive.  You could learn a lot by asking your customers periodically how their experience with your and your company has been and request suggestions for improvement that might make their situation even more enjoyable. 

Most important, when you hear of a problem never give in to the SODDI defense (some other dude did it).  It’s your business, so everything that goes wrong is your fault – take the blame with grace.  Then rapidly solve the problem.  Your customers rarely encounter that mentality.  Rather than remember the mistake, they will remember the pleasant resolution and give you their future business.  In fact, you may find that some of your biggest “problem” customers will end up being your best referral source. 

Remind the Customer Why They Chose You in the First Place 

This is no time to be humble; continually point out your advantages over your competitors, and praise your customer for being so perceptive and astute to choose you.  Everyone deserves a little praise, so why not also take the opportunity to remind your customer of your competitive advantages while praising them for making a good choice in you. 

To create customers that remain loyal year after year, all you really have to do is treat them in such a way that all other competition falls far short in comparison.  Give them such great service automatically, and they will demand the same for years to come.  That is when you have a loyal customer. 

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Relieve Employee Apathy and Indifference and Meet Your Strategic Planning Goals

Thursday, February 25th, 2010

Taking employees from their assigned tasks is a challenge at any time, particularly in the difficult economic environment of today.  Yet senior managers committed to meeting their strategic planning goals are doing just that.  They are providing a brief intermission from the hectic day to day for their employees by providing speech presentations on a wide array of topics related and unrelated to their job.

 

Many speakers are available to provide presentations that will inspire and encourage your employees to pitch in to help meet the company’s strategic planning goals.  It is not critical to find a speaker that will talk directly about your line of work.There are many presentations available that will complement what you do.Your staff will be challenged to think in new and creative ways which can often result in a positive increase to the bottom line. 

 

Here is a checklist of things to discuss with a potential speaker:

 

1.Nuts and Bolts. 

 

Communicate the exact date, time, and location up front when talking with potential speakers.  In addition, make sure to communicate from the start how long you would like the presentation to be.    This may all sound simplistic, but so often a manager gets well into the planning only to find out that the speaker is not available when needed, or can’t stay as long as required. 

 

  It will also help if you can give the speaker an estimate of attendees and details about the group they will be talking to.This is a big help to a speaker in aiming their speech to the group and will give your staff a more relevant function. 

 

2.Event Promotion.

 

Ask the speaker for a summary of their presentation in advance so that you can start building excitement among your employees.  Do this through email teasers, flyers and other forms of promotion.Offer food and other perks that will make it fun. Bottom line is to make sure the employees see the event as a benefit to them rather than something that management is making them do. 

 

3.         Compensation. 

 

If you have a budget available to pay a speaker you will be working with a larger selection.  Most speakers have a set rate for local and non-local venues.  Many also request travel reimbursement, or extra compensation for a longer presentation. 

 

Don’t worry if cost is a factor.Fees vary a lot, and speakers are often willing to adjust fees if you can offer other incentives.For many, the objective is less about the speaking income and more about gaining possible customers. 

 

Two typical forms of payment on a low budget are promoting the speaker’s products to the audience, or, even better, buying a copy of their book or product for each attendee. 

 

 

There are other ways to compensate a speaker on a low budget.  Open the event up to others in your industry or building to make a larger group.You could also obtain the names and contact information of everyone attending so that the speaker can perform their own follow up.Many speakers are grateful to receive a great testimonial and entre to similar groups that you know through your personal referral. 

 

It takes some effort and time to set up a speaker session your employees will enjoy and get value from, but it is a great way to build positive energy and increase commitment among your staff.It is all important to always stress the benefit of the experience on the employee, and that you as their manager are committed to their growth as a person.Your final reward will be the positive impact on the company’s bottom line.     

 

Marty Dickinson moved beyond his techno-fear of the Internet more than 14 years ago and has since launched more than 100 of his own websites while helping more than 300 clients to use the Internet to grow their businesses. Internet Marketing Speaker, business owner, and co-author of “Web Marketing All-in-One for Dummies” (Wiley 2009), he enjoys inspiring other techno-phobic business owners, authors and speakers to move beyond their fear of the Internet to embrace its full potential.


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