Reinventing Your Business Plan

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A look at overcoming obstactles and a few ideas in reinventing your business in a changing environment.

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Reinventing Your Business Plan

  1. 1. Reinventing Your Business Plan in a Changing Environment John DeGaetano Productions For licensing and other considerations Visit our Website: johndegaetanoproductions.com Amazon Author Page: amazon.com/author/johndegaetano
  2. 2. This image is a mosaic of people and companies. Although we can’t see exactly what they’redoing in each individual frame, their change in image can change the entire look of the overall picture.
  3. 3. Like it or not the world economy is changing fundamentallyObviously business challenges are different than say 20 or even 5 years ago. It can be said that we’re still using, in some cases, the same model for our businesses and expecting different results. Gone are the days of an employee working for one company for 35 years. In addition, corporate futures and the ability to adapt to stalls in growth and remain creative will be their most important missions for survival. 3
  4. 4. Business Development Skills Roadmap To Overcoming Obstacles It’s difficult to foresee and head off stalls in businessSo in a changing environment there are a few things businesses must get right when business development comes to a stand still Most managers are oblivious to the early signs. Aside from what you hear in the news… •The biggest setback companies face comes into play from the economical alternative challenges of competitors or current market conditions. •A company whose product or service remains popular finds no reason to change however innovation lies lurking and strength can turn to stand still.
  5. 5. Reviewing Your Plan• Another major challenge is in the talent skills or lack of training of your employees. As a reflection of your company are they sending the right message? Do you have “low cost” tactic or resource to tackle this as an obstacle?• Other development factors can include an unrealistic or out of touch strategic plan or model.• Also contributing to slowness can be marketing’s development, creativeness or interchange in relation to the market . 5
  6. 6. Reinventing…• While these signs may take a while to see, recovery plans are far more crucial to implement in the early stages than over time. Whatever your concerns may be…• It’s important to review and/or possibly reinvent your business plan either internally or by a skilled independent professional by your side to evaluate development issues and help you assess or plan a new roadmap to overcoming or avoid specific breakdowns. 6
  7. 7. A closer look…• Consumer behavior is the focal point of branding, and experts say brand or marketing specifics can dramatically increase the perceived value in an existing product or service and effectively rejuvenate growth.• The key for business owners who want to reinvent their companies is to understand what their businesses do exceptionally well and communicate that message distinctively and consistently over all media, from advertising and Web development to special events and trade shows, etc.• And… overcoming the obstacles 7
  8. 8. Overcoming Obstacles Research What is in Management Control? 61% 61% STRATEGIC PLAN Unrealistic strategic design/model •Inconsistent research 9% 9% Unrealistic strategic Unrealistic strategic •Misperceived market design/model design/model •Diversification in plan 11% 11% Slow redevelopment to Slow redevelopment to Slow redevelopment to market market market •Inadequate department personnel 2% 2% Voluntary slowdown by Voluntary slowdown by •Insufficient timing management management Voluntary slowdown by management 24% 24% Competitor price or •Project funding Competitor price or adjustments adjustments Competitor price or adjustments 10% 10% Operational flaws and •A value shift Operational flaws and obstacles obstacles •Recent innovations 5% 5% Disruption or improper Disruption or improper Operational flaws and obstacles distribution channel distribution channel •In plannned delivery •Changes in technology or flow Disruption or improper distribution channel •Consumer shift or dependence •Cost of delivery, etc *Based in part on research team case studies and comprehensive analysis of growth in stalled Fortune 500 type-sized companies . 8
  9. 9. Overcoming Obstacles 28% Next… ORGANIZATIONAL ORGANIZATIONAL    3% 3% Unclear directional goals Unclear directional goals Unclear directional goals •Little or lack of decision making 19% 19% •Breakdown in communications Talent skills gap and lack Talent skills gap and lack •Dysfunctional team of training personnel of training personnel 4% 4% Talent skills gap Poor motivation and/or Poor motivation and/or •Lack of training incentive incentive •Few experience based employees 2% 2% Tackling organizational Tackling organizational •Loss of performers design design Poor motivation and/or incentive •Teamwork non-existent •Lack of awards in recognition •Disruptive employee(s) Tackling organizational design •Inflexible in execution •Inconsistent review by management 9
  10. 10. Overcoming Obstacles Out of Management Control 11% 11% ON THE OUTSIDE ON THE OUTSIDE    Changes in economy 6% 6% Changes in Changes in •Confidence levels economy economy •Current needs base for product or service 4% 4% Federal regulatory Federal regulatory Federal regulatory or policy revisions or policy revisions or policy revisions •Affecting product or service structure 1% 1% Demographic Demographic •Due to legal actions market changes market changes Demographic market changes •Change in target base •Market saturation 10
  11. 11. 89%Overcoming Obstacles Mapping Internal Factors - Within Management Control 61% 61% 28% 28% STRATEGIC PLAN STRATEGIC PLAN ORGANIZATIONAL    3% 3% 9% 9% Unclear directional goals Unclear directional goals Unrealistic strategic Unrealistic strategic design/model design/model 19% 19% 11% Talent skills gap and lack Talent skills gap and lack 11% Slow redevelopment to of training personnel of training personnel Slow redevelopment to market market 4% 4% 2% Poor motivation and/or Poor motivation and/or 2% Voluntary slowdown by incentive incentive Voluntary slowdown by management management 2% 2% Tackling organizational Tackling organizational 24% 24% design design Competitor price or Competitor price or adjustments adjustments 10% 10% Operational flaws and Operational flaws and obstacles obstacles 11% 11% ON THE OUTSIDE ON THE OUTSIDE 5% 5%    Disruption or improper Disruption or improper distribution channel distribution channel 6% 6% Changes in Changes in economy economy 4% 4% Federal regulatory Federal regulatory 11% or policy revisions or policy revisions External Factors - 1% 1% Demographic Demographic Out of market changes market changes Management Control 11
  12. 12. So what is the bottom line? Whether you choose a reinvention strategy or not, you will;1. Need to closely monitor your results and trends in a shifting environment.2. Or - obtain a company-wide commitment to a possible change and a willingness to redefine your business.3. Develop new strategies for supply management, product/service innovations, and customer targeting that helps you think outside the box of conventional, 20th-century approaches to business planning.4. Locate varied new sources of growth and revenue for your organization.5. Transform the organization from best product to total customer solutions. 12
  13. 13. More of the bottom line…5. Review what is important to your business and makes you stand out.6. It’s amazing what happens when you talk to your customers and what may be their “new” needs.7. Identify and prioritize the fundamental set of tasks that you will need to execute in order to move to a customer-centric strategy and serve your customers in the most creative way.8. Your company can then reemerge as a new and improved organization - one better prepared to compete and grow in the next century. 13
  14. 14. Summary Reinventing Your Business Plan Re-Vision of your business Possible revised product or service - proposed “new” features and/or benefits What pain does your product or service solve for the customer in this economy? Has your target market and size of your market changed? Review primary new and old competitors and their up to date competitive advantage Pricing strategy in a downed economy… What does management team and advisors bring to the table? How do you plan to fund your venture? New costs and cash flow projections - How does it translate to profits? …Exit strategy 14
  15. 15. Working Together! 15
  16. 16. Thank You! Training – Marketing – Consulting 707-338-2886
  17. 17. Spotlight on Business John DeGaetano For licensing and other considerations Productions Visit our Website: johndegaetanoproductions.com Amazon Author Page: amazon.com/author/johndegaetano

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