Small BusinessPlanning in 12 St    Steps
Earn Showcase Trust using                  TrustedBusiness.com                  T   t dB i TrustedBusiness.com is a total...
60 Minute Strategic Plan                    g   Simple   Flexible   Can be    C b applied t any i                 li d ...
Strategic Planning             g          gVision  Reality       Intentions  Results               Purpose Performance ...
Strategic Planning              g          g A course of action        Productivity  to address                Profitab...
The ProcessWhere   How
Step 1: Issue
Issue An opportunity for, or obstacle to growth                 for              to, Which to choose?       Highest pri...
Strategic Issues…               g   Improve competitiveness   Create a customer benefit   Need t    N d extra effort or...
Clues to Your Issues Culture                    Customers Purpose and direction      People Structure and           ...
Indigo, Inc.                   g ,   200 employees   Employee average age = 43   30% will retire i 5 years           il...
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Step 2:  St 2Assumptions
Assumptions                 pBeliefs as to why your strategic issue isimportant     Inaction Worst-case scenario  Unsol...
Assumptions…              p Are reasons to finish regardless of the  obstacles Answer: “Why are we spending the extra   ...
$ Difference   Financial business impact over time   Rationalizes the ROI for diverting and spending    resources       ...
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Indigo, Inc.                  g , Unsolved:  • Declining skills and lost knowledge  • Lack of leadership  • Employees bor...
Indigo, Inc.         g ,$200K/year X 10 years = $2M
Step 3: Values
ValuesOperating philosophies or principles thatguide an organizations conduct  •   Integrity  •   Customers are #1  •   Ri...
Values Beliefs and behaviors needed to resolve  this specific issue Example   Issue: Create an employee ownership equity...
How Measured? Measure = Manage Example  • V l    Value: H           Happy E l                 Employees  • How Measured?...
Measuring Values                g How do you know if your values are  exemplified by your workers if you don’t  measure t...
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Indigo, Inc.                g , Effective and knowledgeable leadership Personal accountability Teamwork and cooperation
Step 4: Vision
VisionThe best imaginable outcomes for the issue            AB FAB BHAGs             ABsolutely             FABulous      ...
Currently Impossible              y p You already be doing them if they weren’t                                      were...
Quantify                     y        Specific          Measurable            Ambitious                Reviewable         ...
Vague vs. Quantifiable      gVague: Increase revenueQuantifiable: Double sales force productivity in 3 years from $200K to...
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Indigo, Inc.                g , Create a formal cross training program by                  cross-training  the end of Q1 ...
Step 5: St 5CustomerBenefits
Customer Benefits Customer payoff from the vision Your company does not make money—it  provides products or services; in...
Customer Benefits Your vision must address your customers’                                 customers  needs How do the o...
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Indigo, Inc.                 g , Answer questions in one phone call Higher customer satisfaction than  competitors b 25%...
Step 6: OtherSt 6 OthBeneficiaries
Other Beneficiaries Co-workers and others needed to help  Co workers  resolve the issue. This can include:  •   Employees...
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Indigo, Inc.                   g , Employees: For each new verifiable skill  employees learn within 18 months they will  ...
Step 7:  St 7Vital Signs
Vital Signs                     g Measurements to audit track and adjust                      audit, track,  your plan (k...
Which to Choose? Those that reinforce the accomplishment  of the issue’s visionary outcomes Select up to eight from:  • ...
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Values Effective Leadership Measurement: Employee job satisfaction survey Accountability Measurement: % of commitments e...
Vision Cross training program Measurement: In place by Q1 2012 Mentor program Measurement: In place by the end of Q2 2012
Customer Benefits Customer questions Measurement: Total percentage answered in one call Customer satisfaction Measuremen...
Other Beneficiaries Employee growth opportunities Measurement: # new skills gained in 18 months Shareholder equity Measu...
Step 8: St 8Obstacles
Obstacles Obstructions to the vision Make vision currently impossible BHAGS = BH performance gap                    f  ...
Obstacles Frame obstacles in a constructive manner Turn them from negatives into positives  and excuses into challenges...
How to (H2)       ( )      x We lack urgency      How to (H2) createa sense of urgency
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Indigo, Inc.                    g , H2 obtain budget to create a mentor program H2 determine skills and competencies nee...
Step 9: Strengths,Weaknesses,Weaknesses and  Opportunities
S, W, and O’s             , , What you have going for and against your  issue/vision  • What you have to work with (stren...
Example                   p Vision: Develop a best-in-class R & D                    best in class  facility  X Great den...
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Strengths                   g Managers and supervisors are highly-                                  highly  skilled and w...
Weaknesses No in-house training staff     in house Lack of training tracking system
Opportunities            pp Distance learning technology Leverage local university continuing ed  leadership program
Step 10: StrategicInitiatives
Strategic Initiatives             g Performance gaps that need to be closed                                   closed.  Se...
Which gaps first?              g p Select those that               that…  • Are of the highest priority  • Must be closed...
Strategic Initiatives            g For each item you select describe:                    select,  • The status quo of the...
Initiative Champions                    p Assign one strategic champion or owner                       champion, owner,  ...
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Indigo, Inc.                  g , Mentor Program            g  From: None  To:   Formal program Training Budget  From: M...
Step 11:Actions
Actions Activities necessary to close a  performance gap What must be done to take a From to a To
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Indigo, Inc.                   g ,Mentor Program  From: None  To:   Formal programActions:  •   Define the scope and parti...
Step 12:  Title
Title Gives the project an identity Makes it easier to communicate about the  plan Is a rallying cry Vision in 3 to 5 ...
Indigo, Inc.        g ,         Issue:    Workforce Planningand L d hi D  d Leadership Development                   l     t
Indigo, Inc.         g ,Leaders Developing Leaders
We’re done!You have learned a simple and flexibleplanning process you can use to create aplan that you can begin to implem...
Free and Paid Accountswww.60minutestrategicplan.com/register
60 Minute Strategic Plan Webinar
60 Minute Strategic Plan Webinar
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60 Minute Strategic Plan Webinar

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Anne Marie Smith, President of 60 Minute Strategic Plan, takes us through the 12 different steps of strategic planning.

Learn more about 60 Minute Strategic Plan at http://www.60minutestrategicplan.com/

Webinar video: http://www.youtube.com/watch?v=oh-mpWl_lHM

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60 Minute Strategic Plan Webinar

  1. 1. Small BusinessPlanning in 12 St Steps
  2. 2. Earn Showcase Trust using TrustedBusiness.com T t dB i TrustedBusiness.com is a totally FREE service to help y y p you earn and showcase trust. Five easy steps: 1. Signup at TrustedBusiness.com 2. Create your business page 3. Promote among your customers/network to get endorsements 3 P t t / t kt t d t 4. Gain shields and badges to showcase trust 5. 5 Earn great perks from partners  Create your page today to claim your URL. There is no downside. You will get many benefits including SEO, if you have a page that is endorsed by many social identities.
  3. 3. 60 Minute Strategic Plan g Simple Flexible Can be C b applied t any i li d to issue llarge or small ll It’s a proven process that’s been used with much success by over 10,000 businesses since 1997
  4. 4. Strategic Planning g gVision  Reality Intentions  Results Purpose Performance THINKING PLANNING ACTING
  5. 5. Strategic Planning g g A course of action  Productivity to address  Profitability  Revenues problems or  Management succession opportunities  Market positioning Identifies the  Geographic expansion desired vision and  New products and services the objectives, objectives strategies, tactics, measures, measures and actions
  6. 6. The ProcessWhere How
  7. 7. Step 1: Issue
  8. 8. Issue An opportunity for, or obstacle to growth for to, Which to choose?  Highest priority  Most impact
  9. 9. Strategic Issues… g Improve competitiveness Create a customer benefit Need t N d extra effort or performance ff t f Ability to implement
  10. 10. Clues to Your Issues Culture  Customers Purpose and direction  People Structure and  Production delegation  Service Information and control t l Finances
  11. 11. Indigo, Inc. g , 200 employees Employee average age = 43 30% will retire i 5 years ill ti in 49% will retire in 10 years They must prepare for the turnover and loss of knowledgeg
  12. 12. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  13. 13. Step 2: St 2Assumptions
  14. 14. Assumptions pBeliefs as to why your strategic issue isimportant  Inaction Worst-case scenario  Unsolved  Action  Best-case scenario  Solved
  15. 15. Assumptions… p Are reasons to finish regardless of the obstacles Answer: “Why are we spending the extra Why effort and resources?” A your ROI Are
  16. 16. $ Difference Financial business impact over time Rationalizes the ROI for diverting and spending resources $100K X 3 years = $300K
  17. 17. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  18. 18. Indigo, Inc. g , Unsolved: • Declining skills and lost knowledge • Lack of leadership • Employees bored and may leave S l d Solved: • Transfer of skills and knowledge • Leaders developed • Employees challenged and motivated
  19. 19. Indigo, Inc. g ,$200K/year X 10 years = $2M
  20. 20. Step 3: Values
  21. 21. ValuesOperating philosophies or principles thatguide an organizations conduct • Integrity • Customers are #1 • Risk Tolerance • Results • Open Communication O C i ti
  22. 22. Values Beliefs and behaviors needed to resolve this specific issue Example Issue: Create an employee ownership equity program Value: Marketplace agility x Value: Share the rewards 
  23. 23. How Measured? Measure = Manage Example • V l Value: H Happy E l Employees • How Measured? R d Reduce employee t l turnover b 50% by  Increase job satisfaction to 100%  Moral improved by 10% a year
  24. 24. Measuring Values g How do you know if your values are exemplified by your workers if you don’t measure them? So, make sure you can measure your values because you choose two to track and measure in an upcoming step.
  25. 25. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  26. 26. Indigo, Inc. g , Effective and knowledgeable leadership Personal accountability Teamwork and cooperation
  27. 27. Step 4: Vision
  28. 28. VisionThe best imaginable outcomes for the issue AB FAB BHAGs ABsolutely FABulous Big y Hairy Audacious Goals Stretch
  29. 29. Currently Impossible y p You already be doing them if they weren’t weren t Don’t constrain yourself with realistic or practical AB FAB BHAGs Doable
  30. 30. Quantify y Specific Measurable Ambitious Reviewable Time boundIf you don’t know, guess If d ’t kThe more clear and precise your vision, the more compelling
  31. 31. Vague vs. Quantifiable gVague: Increase revenueQuantifiable: Double sales force productivity in 3 years from $200K to $ $ $400K p salesperson; per p ; gross margin no lower than 50%.
  32. 32. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  33. 33. Indigo, Inc. g , Create a formal cross training program by cross-training the end of Q1 2012 C t and i l Create d implement a mentor program t t by end of Q2 2012 Reduce training redundancy by 50% by end of Q3 2012
  34. 34. Step 5: St 5CustomerBenefits
  35. 35. Customer Benefits Customer payoff from the vision Your company does not make money—it provides products or services; in exchange, customers pay youC t Customers validate your vision b lid t i i by investing in it (that is, your company) They are, in effect the VC for your plan
  36. 36. Customer Benefits Your vision must address your customers’ customers needs How do the outcomes for this strategic issue measurably contribute to my customers customers’ success? Quantify your customers’ ROI in your vision. I it cheaper, f t and better? By i i Is h faster, d b tt ? B how much?
  37. 37. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  38. 38. Indigo, Inc. g , Answer questions in one phone call Higher customer satisfaction than competitors b 25% i one year tit by in
  39. 39. Step 6: OtherSt 6 OthBeneficiaries
  40. 40. Other Beneficiaries Co-workers and others needed to help Co workers resolve the issue. This can include: • Employees • Shareholders • Vendors • Alliance partners B i =i l Buy in implementation t ti What payoff will they receive from the vision?
  41. 41. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  42. 42. Indigo, Inc. g , Employees: For each new verifiable skill employees learn within 18 months they will receive a bonus Vendors: Will increase the volume of business they do with them on an average of 25% p y g per year Owners: The company will increase in value by p y y 50% within 3 years, so the owners will see their financial equity increase
  43. 43. Step 7: St 7Vital Signs
  44. 44. Vital Signs g Measurements to audit track and adjust audit, track, your plan (key performance indicators) Track plan progress Indicate if corrective actions are needed
  45. 45. Which to Choose? Those that reinforce the accomplishment of the issue’s visionary outcomes Select up to eight from: • Values (step 3) • Vision (step Vi i ( t 4) • Customer Benefits (step 5) • Other Beneficiaries (step 6)
  46. 46. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  47. 47. Values Effective Leadership Measurement: Employee job satisfaction survey Accountability Measurement: % of commitments every employee meets or exceeds
  48. 48. Vision Cross training program Measurement: In place by Q1 2012 Mentor program Measurement: In place by the end of Q2 2012
  49. 49. Customer Benefits Customer questions Measurement: Total percentage answered in one call Customer satisfaction Measurement: 25% higher in one year
  50. 50. Other Beneficiaries Employee growth opportunities Measurement: # new skills gained in 18 months Shareholder equity Measurement: 50% increase in 3 years
  51. 51. Step 8: St 8Obstacles
  52. 52. Obstacles Obstructions to the vision Make vision currently impossible BHAGS = BH performance gap f A T C Effort L S E Innovation B O S Current Vision Vi i Reality Performance Gap
  53. 53. Obstacles Frame obstacles in a constructive manner Turn them from negatives into positives and excuses into challenges “How to” (or H2)
  54. 54. How to (H2) ( ) x We lack urgency How to (H2) createa sense of urgency
  55. 55. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  56. 56. Indigo, Inc. g , H2 obtain budget to create a mentor program H2 determine skills and competencies needed for leadership positions H2 identify duplication of training efforts H2 motivate employees to participate in programs
  57. 57. Step 9: Strengths,Weaknesses,Weaknesses and Opportunities
  58. 58. S, W, and O’s , , What you have going for and against your issue/vision • What you have to work with (strengths you can build on) • What you don’t have to work with don t (weaknesses to correct or finesse) • Immediate opportunities that you can leverage Stay specific to your issue and vision
  59. 59. Example p Vision: Develop a best-in-class R & D best in class facility X Great dental coverage  E l fi PhD Employ five PhDs
  60. 60. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  61. 61. Strengths g Managers and supervisors are highly- highly skilled and well-educated Work culture supports innovation, risk innovation risk- taking, and sustainable change
  62. 62. Weaknesses No in-house training staff in house Lack of training tracking system
  63. 63. Opportunities pp Distance learning technology Leverage local university continuing ed leadership program
  64. 64. Step 10: StrategicInitiatives
  65. 65. Strategic Initiatives g Performance gaps that need to be closed closed. Select from: • Obstacles in step 8 • Weaknesses in step 9 Identify up to three gaps (to start) If you take on too many, you are all likely to t t get overloaded l d d
  66. 66. Which gaps first? g p Select those that that… • Are of the highest priority • Must be closed first sequentially Example: • Issue: S the business Sell • First gap to close: Determine market value Once you close a gap, replace it with another open gap
  67. 67. Strategic Initiatives g For each item you select describe: select, • The status quo of the gap—the current From state) • The successful transition needed—the desired To state From To “As Is” “Want to Be” Performance Gap
  68. 68. Initiative Champions p Assign one strategic champion or owner champion, owner, per initiative Responsible for executing and completing the initiativeD l Delegates t k and f ll t tasks d follows up
  69. 69. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  70. 70. Indigo, Inc. g , Mentor Program g From: None To: Formal program Training Budget From: Minimal To: Adequate Leadership Curriculum p From: Ad hoc To: Formal program
  71. 71. Step 11:Actions
  72. 72. Actions Activities necessary to close a performance gap What must be done to take a From to a To
  73. 73. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  74. 74. Indigo, Inc. g ,Mentor Program From: None To: Formal programActions: • Define the scope and participation • Identify and train mentors • Create mentoring website g • Create definition of success • Create recognition p g g program • And so on…
  75. 75. Step 12: Title
  76. 76. Title Gives the project an identity Makes it easier to communicate about the plan Is a rallying cry Vision in 3 to 5 words
  77. 77. Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
  78. 78. Indigo, Inc. g ,Leaders Developing Leaders
  79. 79. We’re done!You have learned a simple and flexibleplanning process you can use to create aplan that you can begin to implement rightaway …except… except Most Strategic Plans Never Get Implemented
  80. 80. Free and Paid Accountswww.60minutestrategicplan.com/register
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