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Creating strategy in a small business

Even small organizations can create and execute meaningful strategic plans. Creating a well-defined strategy is hard work and not for everyone, as it requires us to begin to say "no" to stuff we usually say "yes" to. You are hereby invited by facilitator Ed Kless, to open a dialogue about how best to go about creating a strategy for your small business organization.

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Creating strategy in a small business

  1. 1. Creating strategy in a small business Ed Kless GN-26 Wednesday, July 29th, 1:30pm – 2:15pm @edkless
  2. 2. 2 #SageSummit The contents of this presentation were provided by the individual(s) and/or company listed on the title page. The information and opinions presented in this presentation may not represent the positions, strategies, or opinions of Sage. Unless explicitly stated, Sage is not responsible for the content herein and no endorsements are implied. ©2015 Sage Software, Inc. All rights reserved. Sage, the Sage logo, and any Sage product and service names mentioned herein, are trademarks of Sage Software, Inc. or its affiliates. All other names used in this presentation are for informational purposes only and may be trademarks of their respective owners. @edkless
  3. 3. 3 #SageSummit How? vs. What matters! How do you do it? What refusal have I been postponing? How long will it take? What is the commitment I am willing to make? How much does it cost? What is the price I am willing to pay? How do you get those people to change? What is my contribution to the problem? How do you measure it? What is the judgment I need to make? How have other people done it successfully? What do we want to create together? @edkless
  4. 4. 5 #SageSummit Strategy Staff Skills Structure Style Systems Shared Vision The Modified Seven S Model @edkless
  5. 5. 6 #SageSummit Seven S Model Fundamentals Strategy Staff Skills Structure Style Systems Shared Vision @edkless
  6. 6. 7 #SageSummit Strategy beliefs • Strategy is about analyzing your situation • Strategy is about what to do • Strategy is planning @edkless
  7. 7. 8 #SageSummit Strategy realities • Strategy is more creative than analytical • Strategy is more about what to say “no” to • Strategy is execution @edkless
  8. 8. 9 #SageSummit The MOASQ is: How much value are we going to create for our customers (in the period) and how are we going to do that? NOT How much revenue do we need to make (in the time period for the plan) and how are we going to achieve it? @edkless
  9. 9. 10 #SageSummit 1001 Days of History 0 20 40 60 80 100 120 140 160 1 201 401 601 801 HappinessofTurkey Days of Life Thanksgiving @edkless
  10. 10. 11 #SageSummit Strategic Triangle “Be better than the competition at what is important to customers.” Original 3C concept developed by Dr. Kenichi Ohmae Customer Company Competition Differentiation @edkless
  11. 11. 12 #SageSummit The oldest and most basic strategic tool – Lascaux S W O T @edkless
  12. 12. 13 #SageSummit Another simple, but better tool Start Stop Continue @edkless
  13. 13. 14 #SageSummit Business Process We have known for years that: Employee satisfaction Customer satisfaction Financial performance @edkless
  14. 14. 15 #SageSummit • Question 1 - How can we educate our people better than our competition in both technical and people skill areas so that they will be more valuable than their counterparts at other companies? • Question 2 - How can we become more valuable to our customers by listening to the them and understanding their market, and applying the two together? • Question 3 - What three things would you change about your company’s practices and policies? Three great strategic questions @edkless
  15. 15. 16 #SageSummit Marcus Buckingham’s 12 Statements • I know what is expected of me at my job. • I have the materials and equipment I need to do my job right. • I have the opportunity to do what I do best every day. • In the last seven days, I have received recognition or praise for doing good work. • My supervisor seems to care about me as a person. • There is someone at work who encourages my development. • At work, my opinions seem to count. • The mission/purpose of my company makes me feel my job is important. • My co-workers are committed to doing quality work. • I have a best friend at work. • In the last six months, someone has talked to me about my progress. • In the last year, I have had opportunities to learn and grow. @edkless
  16. 16. 17 #SageSummit Fred Reichheld’s Ultimate Question What is the likelihood that you would recommend our product/service to a friend or colleague? @edkless
  17. 17. 18 #SageSummit@edkless
  18. 18. 19 #SageSummit The Big Three @edkless
  19. 19. 20 #SageSummit What to Do Next • If you are not going to commit to something, do nothing • Research various strategic planning tools (aka diets) and decide to which one you can commit • Commit! Commit! Commit! @edkless
  20. 20. 21 #SageSummit Questions? • Send any questions you may have about this session to the following email by August 15: @edkless
  21. 21. 22 #SageSummit Session survey • Complete a survey for this session! @edkless Session code: GN-26 Session title: Creating strategy in a small business