Entrepreneurial Leadership ELS

Entrepreneurial LeadershipELS

Strategic Business and Market Planning

Katcher Associates LLC-Proprietary Information

2


The Process

Create a Vision

Develop a Plan

Define & Execute

Evaluate Process

Continuously Improve


3

Planning Process

VisionMission

Critical Success FactorMarket PlanSales PlanOperations

Financial/BudgetReview


Internal

Appraisal

External

Assessment

A Continuous Process

Planning helps you to manage your time rather than

it managing you

CORE VALUES CORE VALUES


4


Benefits of Planning

• Prioritize Activities• See Beyond Immediate Issues-Focus on Desired

Outcome• Aligns Day to Day Activities With Long-Term Goals and

Vision• Avoid Endless Crisis That Are Not Important to Your

Goals• Focus Energy on Your Vision• Comprehensive Plan The Most Important Tool You Can

Utilize to Build a Successful Business


5


Why People Fail

• Lack of Vision and Purpose• Lack of Financial Planning and Review• Poor Management• Poor Capitalization• Lack of Market/Competition Knowledge• Failure to Establish Goals


6


Your Vision

• Mental Snapshot of Where You See Your Business in the Future

• Describes Who You Are As a Company– Who You Have the Capability to Become

– Why You Are Unique and Important

• Articulates the Business You Are In/Reason For Being in Business

• Answers the Question: “What Do You Want to Become”


7


Why A Vision

• Vision Driven Leaders Out-Perform Their Competition• Serves as a Source of Inspiration• Guides Decisions• Vision of Your Future Is Essential to Your Success

– Provides Direction and Motivation– Before Anything Can Be Actually Accomplished, It Must Be Mentally Accomplished

“ Living without a Vision is like taking a trip without a Destination”


8


Your Vision

• Core Values:– How do you want to be known by:

• Our customers

• Our suppliers

• Our shareholders

• The community

• Our employees

• Define Your Core Values


9


Your Vision

• Define Your Vision:


10


Your Mission Statement

• Business Goals and Plans for Next 12 mos.• Provide Sense of Direction• Defines Your Principal Service and Uniqueness• Changes With the Time, As You

Accomplish It• Should Be:

– Clear, Involving, Memorable, Align With Values,

Directed At Vision, Linked to Customer Needs, Stretch But Not Impossible, Measurable


11

Establish Critical Goal Categories

• Critical Few Things That Must Happen For Your Mission To Be Successful

• Aligns With Your Mission• Should Have Between 3-7• Examples:

– Market Penetration– New Product/Service– Customer Satisfaction– Cash Flow

“The Ultimate reason for setting goals is to entice you to become the person it takes to achieve them” Jim Rohn



12

Create Goals

• Create Specific Goals To Support The Critical Success Categories

• More Specific Than Success Categories• Short Term: Improve Market Penetration By %

– Develop Market Penetration Measurement Instrument– Gather Current Information – Initiate A Task Force To Address the Issue

• Long Term: Improve Market Penetration By %– Establish An Advisory Board



13

Create Goals

• No Limit To The Number– “What Ever It Takes”

• S M A R T: Specific Measurable

Attainable Realistic

Time Bound

• Determine:– Rewards and Benefits: Makes The Goal Worth Doing– Consequences

• Identify Obstacles• Identify Solutions



14

Write Action Steps

• Determine The Steps It Takes To Accomplish Your Goals– Align Each Step With Their Goals

• Create A Plan As To Who Does What By When• Critical Goal: Improve Market PenetrationGoals Action Step Responsible Priority Check Pt Due Date

RESULTS



15


Market Plan

• Overall Goals of Plan– Creating a Name – Strong Customer Base/Relationship– Increase Sales

• Market Analysis– Target Market– Competition– Market Trends– Market Research

• Marketing Budget– Expected Return

• Marketing Vehicles– Adv, PR, Seminars, DM, Networking, Website, etc.

• Marketing Assessment


16


Sales Plan

• Sales Strategies/Goals– Direct Sales– Direct Mail– E-Mail– Prospecting

• Cold Calls• Networking• Referrals• Seminars/Talks

• Sales Incentives– Free Session– Online Promotion

• Building Customer Relationship/Customer Service• Sales Assessment


17


Operations

• How Do You Run Your Business– Equipment– Facilities– Resources

• Production Process– Process Manual– Production Plan– Capacity Utilization– Safety

• Order Fulfillment and Customer Service• Assessment


18


Financial/Budget Plan

• Create Financial Projects/Budget– Income Statement– Cash Flow Analysis– Balance Sheet– Budget – Assumptions

• Review Quarterly– Plan vs Actuals

• Financial Assessment


19

Planning Process

VisionMission

Critical Success FactorMarket PlanSales PlanOperations

Financial/BudgetReview


Internal

Appraisal

External

Assessment

A Continuous Process

Planning helps you to manage your time rather than

it managing you

CORE VALUES CORE VALUES


20

Alignment

Vision

Mission

Critical Success Categories

Goals

Action Steps

RESULTS


Align

With

Everyone


21

Key To Success

• Alignment:– People– Functions– Organization– Resources– Processes

• Everyone Understands What Steps Are Needed To Make The Company Successful

“Lack of Opportunity is Often Nothing More Than Lack of Purpose or Direction” -unknown



22


Need Help

Karen Katcher

Katcher Associates, LLC

908-719-1027

[email protected]

Entrepreneurial Leadership ELS

Documents

Transcript of Entrepreneurial Leadership ELS