“ The Fundamental Approach for Small Business Growth!”   presented by John D. Lloyd - Founder / Principal  OnPoint Coachin...
Overview <ul><li>Marketing Plan Development </li></ul><ul><li>Client Relationship Management  </li></ul><ul><li>New Busine...
<ul><li>A  marketing plan  is a written document that details the necessary actions to achieve one or more marketing objec...
<ul><li>A few  reminders  in  marketing plan development : </li></ul><ul><li>Portfolio planning -  Coordinated planning fo...
<ul><li>Monitoring the performance on the execution of a marketing plan, against predetermined targets, represents an impo...
<ul><li>Client Relationship Management  commonly known as  CRM  is not just a technology but rather a comprehensive,  cust...
<ul><li>A look at the qualitative approach:  </li></ul><ul><li>80:20 rule  – The  top 20%  of an organization’s clients sh...
<ul><li>A look at the quantitative approach – (the use of CRM software applications): </li></ul><ul><li>Operational CRM : ...
<ul><li>The  objectives  of a  CRM  strategy must consider a company’s  mission ,  vision  and its  values . Information g...
<ul><li>New Business Development  is about  expansion  not diversification! It’s about taking your business model and tapp...
<ul><li>How does  NBD  get done? </li></ul><ul><li>Assessment of marketing opportunities and target markets = ( MPD ). </l...
<ul><li>Strategic planning  is an organization's process of defining its strategy or direction and making decisions on all...
<ul><li>Strategic planning  is a  tool  for effectively mapping the direction of an organization and is  fundamental to th...
<ul><li>Are you a visual person?  Try this approach:   Draw-See-Think </li></ul><ul><li>Draw  - what is the ideal image or...
<ul><li>Project planning  encompasses goals and objectives, managing resources, budget forecasting and pre-determining sco...
<ul><li>Let’s take a look at the  10 Essential Elements  to  Project Planning : </li></ul><ul><li>Aim of project : What is...
<ul><li>Somewhat abstract,  sustainability  in relation to the business environment is a  wide ranging term  with  varying...
<ul><li>A  financial forecast  is normally an estimate of future financial outcomes for a company and unlike a financial p...
<ul><li>For example,  measurement  of cash flow can be used to determine a project's  rate of return or value . The time o...
<ul><li>The  ROI  ratio  can provide small business owners and entrepreneurs with a valuable tool to measure their progres...
CONTACT <ul><li>www.onpointcoachingservices.com </li></ul><ul><li>[email_address]   </li></ul><ul><li>http:// blog.onpoint...
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OnPoint Coaching - The Fundamental Approach

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OnPoint Coaching - The Fundamental Approach

  1. 1. “ The Fundamental Approach for Small Business Growth!” presented by John D. Lloyd - Founder / Principal OnPoint Coaching
  2. 2. Overview <ul><li>Marketing Plan Development </li></ul><ul><li>Client Relationship Management </li></ul><ul><li>New Business Development </li></ul><ul><li>Strategic Planning </li></ul><ul><li>Project Planning </li></ul><ul><li>Sustainability </li></ul><ul><li>Financial Forecasting: ( Cash Flow Analysis / ROI ) </li></ul>
  3. 3. <ul><li>A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives and it can be for a product or a service . The foundation of a well-written marketing plan lies within the enforcement of 5 simple factors: </li></ul><ul><li>Clear - The plan should be an unambiguous outline of exactly what is to be done.  </li></ul><ul><li>Quantifiable - Each activity should be quantified , therefore performance can be monitored.  </li></ul><ul><li>Focused - Apply the 80:20 rule ! </li></ul><ul><li>Realistic - Activities and/or goals should be achievable.  </li></ul><ul><li>Agreed – Staff and/or Departments who are to implement them should be committed to them, and agree that they are achievable. </li></ul>
  4. 4. <ul><li>A few reminders in marketing plan development : </li></ul><ul><li>Portfolio planning - Coordinated planning for the individual products and/or services contributes towards a balanced marketing plan portfolio. </li></ul><ul><li>80:20 rule - The marketing plan needs to concentrate on the 20 percent of products and/or services, which will account for 80 percent of the profit.  </li></ul><ul><li>7 P's - Product, Place, Price, Promotion, Physical Environment, People and Process. </li></ul>
  5. 5. <ul><li>Monitoring the performance on the execution of a marketing plan, against predetermined targets, represents an important aspect of the planning process. If feasible, OPC recommends a quarterly rolling review – (planning one full year ahead each new quarter) if time and planning resources are available. </li></ul><ul><li>Quantifiable elements of a marketing plan: </li></ul><ul><li>Sales analysis - Most organizations track their sales results or in non-profit organizations,…the number of clients. </li></ul><ul><li>Market share analysis - Is an important metric! Though sales might grow in an expanding market, an organization’s share of the market can decrease. Factors to keep in mind when collecting data on market share analysis: overall market share , segment share – ( that in the specific targeted segment ) and relative share - ( in relation to the market leaders ). </li></ul><ul><li>Expense analysis - The key ratio is typically the marketing expense to sales ratio . </li></ul><ul><li>Financial analysis - The &quot;bottom line&quot; of marketing activities be the net profit, except for non-profit organizations, where the comparable emphasis may be on remaining within budget. </li></ul>
  6. 6. <ul><li>Client Relationship Management commonly known as CRM is not just a technology but rather a comprehensive, customer-centric approach to an organization's philosophy of dealing with its clients. </li></ul><ul><li>CRM is a combination of policies, processes, and strategies implemented by an organization to enhance its customer interactions and provide a means to track customer information . It involves the use of technology in attracting prospective clients, while strengthening bonds with existing ones. </li></ul><ul><li>CRM is a combination of a qualitative approach : ( human interaction ) and a quantitative approach : ( software application ), and plays an intricate role in marketing plan development . </li></ul>
  7. 7. <ul><li>A look at the qualitative approach: </li></ul><ul><li>80:20 rule – The top 20% of an organization’s clients should have a customized CRM approach. </li></ul><ul><li>Relationship strategy – Determine what client opportunities you should pursue. </li></ul><ul><li>Client leadership – Become a trusted advisor to the client and a recognized thought leader within the client organization. </li></ul><ul><li>Ambassadorship – Represent the entire firm's capabilities, not just your area of expertise. </li></ul><ul><li>Quality Assurance – Ensure high quality work at all times! Managing: pricing, contracting, negotiating and ensuring firm profit standards are being met. </li></ul>
  8. 8. <ul><li>A look at the quantitative approach – (the use of CRM software applications): </li></ul><ul><li>Operational CRM : Operational CRM processes customer data for a variety of purposes – (eg. managing campaigns, enterprise marketing automation, sales force automation, sales management system ). </li></ul><ul><li>Analytical CRM : Analytical CRM analyzes customer data for a variety of purposes – (eg. designing and executing campaigns , analyzing customer behavior and creating a management information system) . </li></ul><ul><li>Sales Intelligence CRM : Sales Intelligence CRM is a direct sales tool – (eg. cross-selling / up-selling, sales performance, customer trends and customer margins ). </li></ul><ul><li>Social CRM : The integration of social media platforms – (eg. LinkedIn, Twitter, Facebook, Blogs, etc .) into the CRM system application. * Note : OPC recommends “Social CRM” should be monitored for real-time marketplace feedback and trends. </li></ul>
  9. 9. <ul><li>The objectives of a CRM strategy must consider a company’s mission , vision and its values . Information gained through CRM initiatives can support the development of the marketing plan strategy and ultimately increase the organization's knowledge in areas such as: (customer segmenting, customer retention and improve product/service offerings) . </li></ul>
  10. 10. <ul><li>New Business Development is about expansion not diversification! It’s about taking your business model and tapping into new markets to create new revenue streams . New Business Development is anchored on market research and then transitions into market penetration strategies. What is the roadmap to capturing this market? How much of a percentage of the market can be tapped? Competition? Feasibility? NBD is both operational and sales focused, it doesn’t require but wouldn’t hurt…a business plan. </li></ul><ul><li>What is NBD about? </li></ul><ul><li>Growth </li></ul><ul><li>New Verticals </li></ul><ul><li>New Revenue Streams </li></ul><ul><li>Innovation and Creativity </li></ul><ul><li>Leveraging Technology </li></ul><ul><li>Collaborative Partnerships </li></ul><ul><li>Go Global </li></ul>
  11. 11. <ul><li>How does NBD get done? </li></ul><ul><li>Assessment of marketing opportunities and target markets = ( MPD ). </li></ul><ul><li>Intelligence gathering on customers and competitors = ( CRM ). </li></ul><ul><li>Generating leads for potential sales = ( CRM ). </li></ul><ul><li>Proposal and presentation management = ( CRM ). </li></ul><ul><li>Business model design = ( BP ). </li></ul><ul><li>New Business Development is a key factor in the equation of the fundamental approach on how to grow your business . Why?...because it’s summarizes the grow your business part, the fundamental approach part is a process and involves other variables – (eg. MPD and CRM). </li></ul>
  12. 12. <ul><li>Strategic planning is an organization's process of defining its strategy or direction and making decisions on allocating its resources to pursue this strategy, including its capital and people . Strategic planning should start with objectives and end with a roadmap of ways to achieve those objectives. </li></ul><ul><li>Various “text book” business analysis techniques include: </li></ul><ul><li>SWOT analysis (Strengths, Weaknesses, Opportunities and Threats ). </li></ul><ul><li>PEST analysis (Political, Economic, Social and Technological). </li></ul><ul><li>STEER analysis (Socio-cultural, Technological, Economic, Ecological and Regulatory). </li></ul>
  13. 13. <ul><li>Strategic planning is a tool for effectively mapping the direction of an organization and is fundamental to the growth of a business because a business that fails to plan is a business that plans to fail! That said, strategic planning itself cannot foretell exactly how the market will evolve and what issues will surface, therefore semi-annual and/or annual review of the planning process coupled with the appropriate tweaking to the plan is instrumental for an organization to survive the turbulent business climate. </li></ul>
  14. 14. <ul><li>Are you a visual person? Try this approach: Draw-See-Think </li></ul><ul><li>Draw - what is the ideal image or the desired end state? </li></ul><ul><li>See - what is today's situation? What is the gap from ideal and why? </li></ul><ul><li>Think - what specific actions must be taken to close the gap between today's situation and the ideal state? </li></ul><ul><li>Plan - what resources are required to execute the activities? </li></ul><ul><li>A few reminders to keep in mind when developing the strategic plan of an organization: </li></ul><ul><li>Vision statement : Defines the desired or intended future state of an organization. </li></ul><ul><li>Mission statement : Defines the fundamental purpose of an organization. </li></ul><ul><li>Values : Beliefs that are shared among the stakeholders of an organization. Values drive an organization's culture and priorities. </li></ul>
  15. 15. <ul><li>Project planning encompasses goals and objectives, managing resources, budget forecasting and pre-determining scope of work and scalability. The nemesis of project planning is time allocation , thus project planning requires flexibility in its execution! </li></ul>
  16. 16. <ul><li>Let’s take a look at the 10 Essential Elements to Project Planning : </li></ul><ul><li>Aim of project : What is the end game? What are we aiming to accomplish? </li></ul><ul><li>Outputs : At completion, what will the project produce? </li></ul><ul><li>Quality criteria : What the project produces needs to be of good quality and it needs to be SMART – (specific, measurable, attainable, relevant and time-based). </li></ul><ul><li>Resources : What resources will we need to achieve the project – (eg. staff, capital, equipment, etc.). </li></ul><ul><li>Management structure : How are we going to manage the work and/or different streams of work? </li></ul><ul><li>Milestones : Benchmark progress and review according to the project timeline. </li></ul><ul><li>Tolerances : Setting tolerance in terms of finance of +/- 5%, and/or a tolerance in terms of time of +/- 10%. Additional tolerances may be required. </li></ul><ul><li>Dependencies : Dependencies should include both internal to the project – (eg. what’s under your control), and external – (eg. what’s outside of your control). </li></ul><ul><li>Risks : What could go wrong? What are your liabilities? </li></ul><ul><li>Schedule : As mentioned, project planning requires flexibility in its execution but requires an overview and how the project will be broken down into sensible chunks. </li></ul>
  17. 17. <ul><li>Somewhat abstract, sustainability in relation to the business environment is a wide ranging term with varying degrees of definition . It’s relevancy to small business growth is more theoretical-based than model-based . That being said…. </li></ul><ul><li>Q.- What does sustainability mean to you? Why is it important? Have you implemented a sustainability strategy into your business model? </li></ul><ul><li>THINK : </li></ul><ul><li>Longevity </li></ul><ul><li>Diversification </li></ul><ul><li>Social, economical, technological and environmental impact. </li></ul><ul><li>Natural evolution </li></ul><ul><li>Sustaining growth is taking a look at the big picture and then scaling back. For small business it’s about stability and long term growth . Sustainability factors in everything we discussed so far and asks the question is my business sustainable? </li></ul>
  18. 18. <ul><li>A financial forecast is normally an estimate of future financial outcomes for a company and unlike a financial plan or a budget a financial forecast doesn't have to be used as a planning document it can be used as a tool to estimate a company's success in the coming quarter or year on the rollout of a project or new initiative. </li></ul><ul><li>Starting with cash flow… cash flow is essentially the movement of money into and out of your business; it's the cycle of cash inflows and cash outflows that determine your business' solvency. Critical to business growth and directly related to project rollout and/or business development, cash flow is the main ingredient in determining how you will grow your business. </li></ul>
  19. 19. <ul><li>For example, measurement of cash flow can be used to determine a project's rate of return or value . The time of cash that flows into and out of projects are used as inputs in financial models such as internal rate of return , and net present value . </li></ul><ul><li>Reminder : Cash flow can be used to determine problems with a business's liquidity. Being profitable does not necessarily mean being liquid . A company can fail because of a shortage of cash, even while being profitable. </li></ul><ul><li>Coupled with cash flow is ROI , and the financial forecasting of ROI on specific marketing strategies and project execution is critical to small business owner(s) needing to make decisions on growth potential. ROI is a financial ratio that compares the amount of income derived from an investment with the cost of the investment . ROI is known as a profitability ratio, because it provides information about management's performance in using the resources of the small business to generate income. </li></ul>
  20. 20. <ul><li>The ROI ratio can provide small business owners and entrepreneurs with a valuable tool to measure their progress against predetermined internal goals , external goals and at times the overall industry. ROI is a very popular metric because of its versatility and simplicity , BUT remember the intangibles are sometimes the most important benefits, but because many of them may be long term, they are typically the most difficult to quantify. </li></ul>
  21. 21. CONTACT <ul><li>www.onpointcoachingservices.com </li></ul><ul><li>[email_address] </li></ul><ul><li>http:// blog.onpointcoachingservices.com </li></ul><ul><li>C. 617.359.0099 | F. 617.507.7710 </li></ul>

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