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Successful	
  Business	
  Planning	
  
	
  
	
  Robert	
  Pedigo	
  
Vice	
  President	
  for	
  Client	
  Services	
  
Ca...
The	
  100,000	
  Foot	
  View	
  
Vision	
  without	
  ac=on	
  is	
  a	
  day	
  dream.	
  Ac=on	
  
without	
  vision	
...
Business	
  Planning	
  
  Why	
  do	
  it?	
  
  What	
  is	
  it?	
  
  What	
  makes	
  it	
  work	
  well?	
  
  H...
Change	
  is	
  inevitable.	
  Change	
  is	
  
constant.
	
  	
  	
   	
   	
  -­‐	
  Benjamin	
  Disraeli	
  
	
  
Wheth...
What	
  Is	
  Business	
  Planning?	
  
  A	
  tool.	
  
  The	
  managerial	
  process	
  of	
  developing	
  and	
  
m...
What	
  is	
  Strategic	
  Planning?	
  
  A	
  blueprint	
  
  The	
  vision	
  oriented	
  process	
  of	
  developing...
Business	
  Plan	
  Elements	
  
  Execu=ve	
  Summary	
  
  Business	
  Overview	
  
  Financial	
  Data	
  
  Suppor...
Business	
  Plan	
  Elements	
  
  Execu=ve	
  Summary	
  
  Your	
  Statement	
  of	
  Purpose	
  
  Your	
  Mission	
...
Business	
  Plan	
  Elements	
  
  Execu=ve	
  Summary	
  
  Business	
  Overview	
  
  Product/service	
  descrip=ons	...
Business	
  Plan	
  Elements	
  
  Execu=ve	
  Summary	
  
  Business	
  Overview	
  
  Financial	
  Data	
  
  Balanc...
Business	
  Plan	
  Elements	
  
  Execu=ve	
  Summary	
  
  Business	
  Overview	
  
  Financial	
  Data	
  
  Suppor...
A	
  Pearl	
  of	
  Wisdom	
  
No	
  plan	
  survives	
  first	
  
contact	
  with	
  the	
  
enemy. 	
  
	
  
-­‐	
  Helmu...
Business	
  Planning	
  Should	
  
 Be	
  feasible	
  considering	
  internal	
  and	
  
external	
  constraints.	
  
 L...
What	
  Works	
  Well	
  
  Con=nual	
  planning	
  
  Communica=on	
  across	
  the	
  organiza=on	
  
  Get	
  and	
 ...
Leadership	
  
Vision
Wisdom
Knowledge
Information
Data
Leadership:	
  Board	
  &	
  Staff	
  
  Establish	
  an	
  encompassing,	
  ar=culated	
  
direc=on	
  for	
  the	
  orga...
Before	
  you	
  build	
  a	
  beber	
  mousetrap,	
  it	
  
helps	
  to	
  know	
  if	
  there	
  are	
  any	
  mice	
  o...
Piealls	
  
  Most	
  planning	
  efforts	
  are	
  fantas=c	
  
  Change	
  aversion	
  
  Conflic=ng	
  agendas	
  
  ...
Planning	
  Polari=es	
  
  Long	
  term	
  	
  -­‐	
  	
  Tomorrow	
  
  Hard	
  data	
  	
  -­‐	
  	
  Intui=on	
  
 ...
Prac=cal	
  Considera=ons	
  
  Plan	
  for	
  changing	
  condi=ons	
  
  Consistent	
  terminology	
  
  Start	
  sma...
Plan	
  and	
  Ac=on	
  
  Conven=onal	
  ideal	
  
 ready,	
  aim,	
  fire	
  
  Guesswork	
  
 ready,	
  fire,	
  aim	...
Change	
  Piealls	
  to	
  Plusses	
  
  Most	
  planning	
  efforts	
  are	
  fantas=c	
  
  Change	
  aversion	
  
  C...
Know	
  your	
  enemy,	
  
know	
  yourself,	
  and	
  
your	
  victory	
  will	
  not	
  
be	
  threatened.	
  Know	
  
t...
Robert	
  Pedigo,	
  MBA	
  	
  
rpedigo@castleworldwide.com	
  
	
  	
  
+1.919.657.6920	
  
www.castleworldwide.com	
  
...
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Successful Business Planning

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Test delivery programs often suffer from inadequate or ineffective business planning. This presentation was shared with certification & licensure leaders at the Certification Network Group in Chicago (and by webcast) to sensitize certification and licensure managers to the core elements of planning and differences that make a big difference in business planning success.

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Transcript of "Successful Business Planning"

  1. 1. Successful  Business  Planning      Robert  Pedigo   Vice  President  for  Client  Services   Castle  Worldwide     Originally  delivered  to  the  Cer=fica=on  Network  Group,  Chicago,  21  January  2010  
  2. 2. The  100,000  Foot  View   Vision  without  ac=on  is  a  day  dream.  Ac=on   without  vision  is  a  nightmare.            -­‐  Japanese  Proverb  
  3. 3. Business  Planning     Why  do  it?     What  is  it?     What  makes  it  work  well?     How  does  it  oPen  under-­‐perform  or  fail?     How  can  I  apply  best  prac=ces  to  my  tes=ng   program?  
  4. 4. Change  is  inevitable.  Change  is   constant.          -­‐  Benjamin  Disraeli     Whether  you  drive  it,  an=cipate  it  or  just  react   to  it,  know  that  change  is  assured.     Those  in  the  driver s  seat  have  a  greater   likelihood  of  reaching  a  desirable  des=na=on.  
  5. 5. What  Is  Business  Planning?     A  tool.     The  managerial  process  of  developing  and   maintaining  a  fit  between  an  organiza=on's   strategic  plan,  its  resources,  and  its  changing   business  environment  by  engaging  in   research,  analysis,  jus=fica=on,  selec=on  and   implementa=on  of  a  course  of  ac=on.  
  6. 6. What  is  Strategic  Planning?     A  blueprint     The  vision  oriented  process  of  developing   goals  and  organiza=onal  objec=ves  to  define   what  the  organiza=on  will  look  like  and  when.  
  7. 7. Business  Plan  Elements     Execu=ve  Summary     Business  Overview     Financial  Data     Suppor=ng  Documents
  8. 8. Business  Plan  Elements     Execu=ve  Summary     Your  Statement  of  Purpose     Your  Mission  Statement     The  opportunity  and  the  strategy     Economics,  profitability,  and  exit  poten=al     The  offering  to  prospec=ve  investors     Business  Overview     Financial  Data     Suppor=ng  Documents  
  9. 9. Business  Plan  Elements     Execu=ve  Summary     Business  Overview     Product/service  descrip=ons     Target  markets  and  customer  profiles     Loca=on  of  business  and  compe==ve  analysis     Marke=ng,  sales,  and  opera=ons  plans     Management  team  and  personnel     Investment  requirements  and  expected  use  of  funds     Summary     Financial  Data     Suppor=ng  Documents  
  10. 10. Business  Plan  Elements     Execu=ve  Summary     Business  Overview     Financial  Data     Balance  sheet       Break-­‐even  analysis       Income  projec=ons  (Profit  &  Loss  Statements)     Cash  flow  projec=ons     Sensi=vity  analysis  (Best-­‐Planned-­‐Worst  Case  Scenarios)     Historical  financial  reports  for  exis=ng  business     Suppor=ng  Documents  
  11. 11. Business  Plan  Elements     Execu=ve  Summary     Business  Overview     Financial  Data     Suppor=ng  Documents     Execu=ve  team  resumes     Supplier,  customer,  and/or  partnership  lebers  of  intent     Job  descrip=ons     Leases,  contracts,  and  legal  documents  
  12. 12. A  Pearl  of  Wisdom   No  plan  survives  first   contact  with  the   enemy.     -­‐  Helmuth von Moltke
  13. 13. Business  Planning  Should    Be  feasible  considering  internal  and   external  constraints.    Lead  to  a  long-­‐term  compe==ve   advantage.    Add  value  for  stakeholders.    Be  sustainable  in  the  long  term.    Be  adaptable  to  cope  with  a  changing   environment.  
  14. 14. What  Works  Well     Con=nual  planning     Communica=on  across  the  organiza=on     Get  and  maintain  stakeholder  involvement     Planning  for  change  in  the  face  of  uncertainty     Recogni=on  that  changing  condi=ons  are  an   opportunity     Vision  and  direc=on  should  be  set  at  the  top   and  be  based  on  reality  
  15. 15. Leadership   Vision Wisdom Knowledge Information Data
  16. 16. Leadership:  Board  &  Staff     Establish  an  encompassing,  ar=culated   direc=on  for  the  organiza=on     Set  the  working  agenda  and  focus  the   organiza=on s  aben=on  and  effort     Personal  commitment  to  leading  change     Teach  knowledge  and  skills  throughout  the   ranks     Genuine  empowerment  of  their  people  
  17. 17. Before  you  build  a  beber  mousetrap,  it   helps  to  know  if  there  are  any  mice  out   there.            -­‐  Mor=mer  Zuckerman  
  18. 18. Piealls     Most  planning  efforts  are  fantas=c     Change  aversion     Conflic=ng  agendas     Not  invented  here     Lack  of  business  planning  skills     Faulty  or  misapplied  processes     Over  confidence     Big  hurry     Gridlock     Absence  of  clarity  regarding  roles  and  responsibili=es  
  19. 19. Planning  Polari=es     Long  term    -­‐    Tomorrow     Hard  data    -­‐    Intui=on     Diverse  perspec=ves    -­‐    Focused  decisive  team     Op=mis=c    -­‐    Realis=c     Specific  goals    -­‐    Flexible  and  adaptable     Niche    -­‐    Large  growth  market     Core  competence    -­‐    New  learning     Leverage  current  trends    -­‐    Spark  new  movement     Research  data    -­‐    Experimenta=on  
  20. 20. Prac=cal  Considera=ons     Plan  for  changing  condi=ons     Consistent  terminology     Start  small     Get  buy-­‐in     Make  plans:  start-­‐up,  roll-­‐out,   maintenance     Don t  under-­‐es=mate  the  effort     Balancing  plan  and  ac=on  
  21. 21. Plan  and  Ac=on     Conven=onal  ideal    ready,  aim,  fire     Guesswork    ready,  fire,  aim     Analysis  paralysis    ready,  aim,  aim,  aim,  aim...       Successive  approxima=on      ready,  aim,  fire,  aim,  fire,  aim,  fire...     Rapid  reac=on    ready,  fire,  aim,  fire,  aim,  fire,  aim,  fire...  
  22. 22. Change  Piealls  to  Plusses     Most  planning  efforts  are  fantas=c     Change  aversion     Conflic=ng  agendas     Not  invented  here     Lack  of  business  planning  skills     Faulty  or  misapplied  processes     Over  confidence     Big  hurry     Gridlock     Absence  of  clarity  regarding  roles  and  responsibili=es  
  23. 23. Know  your  enemy,   know  yourself,  and   your  victory  will  not   be  threatened.  Know   the  terrain,  know  the   weather,  and  your   victory  will  be   complete.          -­‐  Sun  Tzu  
  24. 24. Robert  Pedigo,  MBA     rpedigo@castleworldwide.com       +1.919.657.6920   www.castleworldwide.com    
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