7 Simple Steps To Grow Your Business

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Presentation given to Institute of Directors on 8 October 2010

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7 Simple Steps To Grow Your Business

  1. 1. Through The Brick Wall: 7 Simple Steps To Grow Your Business Diane Garfield T: +44 (0) 7836 620439 E: [email_address]
  2. 2. The A-P-I Model Audit Plan Implement
  3. 3. Business benefits <ul><li>Smarter thinking/working </li></ul><ul><li>Measure success </li></ul><ul><li>Control </li></ul>
  4. 4. Step 1: Macro-environment audit <ul><li>Use a structured approach eg PEST analysis </li></ul><ul><ul><li>Political </li></ul></ul><ul><ul><li>Economic </li></ul></ul><ul><ul><li>Social </li></ul></ul><ul><ul><li>Technological </li></ul></ul><ul><ul><li>[Legal] </li></ul></ul>
  5. 5. Step 2: Micro-environment audit <ul><li>SWOT </li></ul><ul><ul><li>Strengths </li></ul></ul><ul><ul><li>Weaknesses </li></ul></ul><ul><ul><li>Opportunities </li></ul></ul><ul><ul><li>Threats </li></ul></ul>
  6. 6. Step 2 cont… <ul><li>Two Cs: </li></ul><ul><ul><li>Competitors </li></ul></ul><ul><ul><ul><li>Direct </li></ul></ul></ul><ul><ul><ul><li>Substitution </li></ul></ul></ul><ul><ul><li>Clients </li></ul></ul><ul><ul><ul><li>Demographics </li></ul></ul></ul><ul><ul><ul><li>Other characteristics eg organisational structure </li></ul></ul></ul>
  7. 7. Step 2 cont… <ul><li>The Management Mix: </li></ul><ul><ul><li>S (Selling proposition) </li></ul></ul><ul><ul><li>P (Price) </li></ul></ul><ul><ul><li>E (Exploration/promotion) </li></ul></ul><ul><ul><li>C (Community/the stakeholders) </li></ul></ul><ul><ul><li>I (Information systems/processes in support) </li></ul></ul><ul><ul><li>A (Awareness/physical evidence) </li></ul></ul><ul><ul><li>L (Location/where people buy) </li></ul></ul>
  8. 8. Business benefits <ul><li>Clear understanding of the industry and your place in it </li></ul><ul><li>Able to define success </li></ul><ul><li>Leading to better decision-making </li></ul>
  9. 9. Step 3: Plan your strategic vision <ul><li>Define and articulate: </li></ul><ul><ul><li>What business you are in </li></ul></ul><ul><ul><li>What you are setting out to achieve (mission) </li></ul></ul><ul><ul><li>How you see the ‘look and feel’ of the business over time (including any exit strategy) </li></ul></ul>
  10. 10. Step 4: Objectives and roadmap <ul><li>Agree SMART objectives and set out the roadmap that identifies: </li></ul><ul><ul><li>Where you meet the needs of your marketplace </li></ul></ul><ul><ul><li>Opportunities for growth </li></ul></ul><ul><ul><li>If any operational changes need to take place </li></ul></ul>
  11. 11. Step 4 cont… Ansoff’s Matrix Diversification Market development Product development Market penetration Existing markets New markets Existing New products/services products/services
  12. 12. Step 5: Your Proposition Foundation to support your proposition and business values eg testimonials, case studies and biographies Go-to-market proposition Business value #3 Business value #1 Business value #2
  13. 13. Business benefits <ul><li>Clarity of purpose for the whole team </li></ul><ul><li>Success can be defined and measured </li></ul><ul><li>Effective decision-making for implementation and audit review </li></ul>
  14. 14. Step 6: Implement <ul><li>Determine and agree investment: </li></ul><ul><ul><li>Time </li></ul></ul><ul><ul><li>Money </li></ul></ul><ul><ul><li>People </li></ul></ul><ul><ul><li>Technology </li></ul></ul>
  15. 15. Step 6 cont… <ul><li>Develop tactics eg: </li></ul><ul><li>Decide what you can afford to give away for free and use this as a marketing tool </li></ul><ul><li>Package services to encourage a purchase decision based on value rather than price </li></ul><ul><li>Multi-tiered engagement model to support the sales cycle: </li></ul><ul><li>Awareness -> Interest -> Benefits -> Desire -> Action -> Rewards </li></ul>
  16. 16. Step 7: Review <ul><li>Review measurement parameters against objectives </li></ul><ul><li>Feedback what you learn into the audit stages (Steps 1 and 2) </li></ul>
  17. 17. The A-P-I Model Audit Plan Implement
  18. 18. Through The Brick Wall: 7 Simple Steps To Grow Your Business Diane Garfield T: +44 (0) 7836 620439 E: [email_address]

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