Business planning

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Business planning

  1. 1. BUSINESS PLANNING SOME THOUGHTS ON BUILDING MOMENTUM Andy Coote Bizwords
  2. 2. The Elements  Getting the basics right  Understanding your ‘right’ direction  Building momentum
  3. 3. Getting the Basics Right (Personal)
  4. 4. Getting the Basics Right (Business) Strategy – how to get to long term target Tactics – short term activity Basics – Cash, products, pricing, systems, people, customers, time
  5. 5. Filling your capacity  Rocks  Stones  Gravel  Water
  6. 6. Filling your capacity  Rocks – regular work contracted/retainer Standard pricing. Low cost of repeat. Account Management  Stones – significant work. Not contracted but known clients. Premium price?  Gravel – Jobbing work. One off client. Amount determined by rocks and stones. Price to utilise dead time – like late hotel rooms.  Water – internal work. Maintenance, marketing. Fit into gaps. Important but not urgent.
  7. 7. Direction – True North
  8. 8. Direction – True north  What is your True North?  If you don’t know where you’re going  Any road will get you there  Any activity will be wasted  Where do you want to be  Long term – overall direction  Medium – staying close to straight line  Short – process goals
  9. 9. Momentum
  10. 10. Momentum  Effort needed to overcome initial inertia  Keep the wheel moving  Apply continuous effort in the same direction – minor adjustments are fine BUT  Stop it and the initial effort is wasted  Reverse it and confuse the market  So – constant application in the right direction
  11. 11. Quick recap  Get the basics right  Personal  Business  Understand your ‘right’ direction  True North  Build momentum  One direction  Continuous attention
  12. 12. Thanks to -  Abraham Maslow (hierarchy of needs)  Stephen Covey (filling the jar from 7 habits)  Bill George and Peter Sims (True North)  George Harrison (any road will get you there)  Jim Collins (Flywheel from Good to Great)
  13. 13. Questions/thoughts  Too simple?  What have I missed?  Applicable to you?  Where might it go?

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