Inventing the Future

Objectives – Learning

How to simplify
– Manage the CRITICAL goals instead of the
trivial many

– Manage 3-5 things instead of managing 50-60

How to develop long term/intermediate

term/short term plans

2
What is Strategic Thinking?

“Strategic thinking produces a vision, profile

of what an organization wants to become,
which then helps managers make vital
choices”
Source: Michel Robert (1998), Strategy Pure & Simple II

3
What is Strategic Planning?

The Strategic Plan and the Vision are WHAT YOU

want to look like, or the ORGANIZATION wants to
look in the future (5, 10, or 20 years in the future)

The Vision is the WHAT to look like, the mission

statement is the HOW to get there

The strategic plan is the LONG term plan for what

you want to look like. The Business Plan is much
shorter term and is more operational

4
Strategic Thinking is Like Picture
Painting

Picture or profile that will determine the

direction, nature, & composition of the
business

It is important to continue Strategic

Thinking in everyday business, not just
when we do Strategic Planning

It is the type of thinking that allows us to

achieve success in anything we do
5
What is Strategic Thinking?

Most People Do Not Fail to Plan

They Plan to Fail

6
How many

do you see?

7
Keep an Open Mind

100% Input

Prejudging
Old Paradigms

10% value

8
Keep an Open Mind

100% Input 100% Input

Prejudging
Old Paradigms
Limiting Thoughts

Creatively
Seeing New
Opportunities

10% value 100%+ value

9
How to Work

Measured Results
Elated Customers
Moments of Truth

Employees

Operational Management
Systems Systems

Strategic
Plan
10
The Personal Side of the Formula

A * (S + K) + Goals = PBC = IRº

P
V & B (f) C = 88%

-------------------------------

73%
-------------------------------
-------------------------------
++++
27%
-------------------------------
++++

11
The Power of Personal
Development

“The greatest discovery of our generation is

that human beings, by changing the inner
attitudes of their mind, can change the outer
aspects of their lives”

William James, father of American Psychology

12
Is there a Problem with
Leadership?
Excessive meetings
Preponderance of consensus-driven
decision making (i.e. a cover-your-
behind mentality)
Lack of personal accountability
Time consuming and/or meaningless
performance evaluation
Communication problems
Difficulty terminating poor performers
Misalignment/lack of coordinated effort
Personality conflicts and/or power
struggles
Unacceptable results
Time management problems
Reactive rather than pro-active thinking
Micro-management
Can’t-do-attitudes
Chronically sagging sales
Unproductive teams and/or ineffective
teamwork
Duplication of effort
High staff turnover
Failure to achieve quality standards
Fear of making decisions
13
 the
Top Management

Middle Management
People issues

Technical issues
Supervisions

Individual Contributors

What Skills Am I Being Paid For? 14

It Start’s with a Choice of
Vision

“vision without action is a daydream.

Action without vision and planning is a

nightmare”

- Japanese proverb

15
Benefits--Balance

PERSONAL ORGANIZATIONAL

Financial
People Sales/
Skills Influencing
Family Mental Skills

Spiritual Physical Time Productivity

Management

Social

16
Three questions for today…

Where are you today?

Where do you want to be tomorrow?

How are you going to get there?

17
I agree to:

I take 100% responsibility for my own success, both personally & professionally
I am committed to continuous daily growth & improvement
I’m committed to learning what I need to do to be successful, both personally &
professionally
I’m committed to learning how to do what I need to do to be successful, both personally
& professionally
I’m committed to taking action on what I know & what I‘ve learned
I’m committed to view anything that gets between my goals & me as an obstacle for
which there is a path around. I’ll find that and ACT on it
I recognize that viewing an obstacle as insurmountable, or by not trying, I’ve made a
choice to give up. Giving up is failure and I will not do that
Not acting or delaying action on a problem is a choice, a choice to choose failure. I
choose to not take that path
Nothing just happens to me. Being a victim is a choice
I’m committed to doing whatever it takes to accomplish my goals without violating the
law of the universe, God and mankind
I agree to take charge of my life and my business 18
 Reactive Planning Inactive Planning
Look to Evaluate the
the Past Current
Environment

PRESENT PRESENT
RESULT: Recreate the Past RESULT: Maintain “Status Quo”

Preactive Planning Interactive Planning

Look to Move
the Future Yourself
& Predict Into the
Future &
Invent it

PRESENT PRESENT
RESULT: Forecast the Future RESULT: Create & Control Your Destiny
19
The Logical Future
The future is an extension of the past

Future
Present
Past

The “Willed” Future

The future is anything we will it to be

Future

Present
Past
20
Strategic Thinking & Business Planning
Process Vision
Strategic Plan Values
Systems

Internal Appraisal
External Assessment Long Term Structure
Customer Segments Goals & Resources
Competitive Analysis Objectives Strengths & Weaknesses
Trend Analysis
Key Assumptions

Base Business
Business Plan Focus
Mission Statement
Customer base
Reviews What to Achieve
Continuous Feedback
Customers How Measured
Budgeting Employees
Suppliers
Monthly Business Critical Goal
Sales Plan Reviews Categories

Programs
Performance Marketing Business Goals
Indicators Plan/Programs Plan Statements 21
 Chapter 1
Strategic Planning
Building a Successful Business

Some of the attributes that got you to this

point in your success will continue to be
assets in your role as a business leader

Some will have to change

23
Building a Successful Business

If you got where you are with technical

skills, you’ll find
– If you are to build a business you must now get
others to do what you do

– You will have to manage people and the

business, not technical issues

– This requires a different set of skills

24
Building a Successful Business

Does change imply that you were doing it wrong?

– Change indicates growth & progressiveness
– Change, & new and better ways of doing things are
stepping stones to future success
– Change is difficult for many people & the ability to
adapt to change is a prime factor in many business
failures

Your roles will be different & will require that you

assume different responsibilities
And in some cases develop new skills

25
Your Roles

Each role will require different skills & focus

Some will be comfortable

Some will not

26
Your Roles

Speed is of the essence

– The faster you grow the Create a
Vision
faster your business
will grow Evaluate
Progress &
Continuously Develop a
Speed of your Improve Strategic
Planning
Strategic Plan

growth will be Model

determined by Define & Execute

Implementation Develop a
your ability Throughout the
Organization
Shorter-term
Plan
to plan 27
The Steps to Success

Stage One – Vision

Stage Two – Strategic planning

Stage Three – Business Planning

Stage Four – Implementing the plan

Stage Five – Review & Continuous Improvement

28
Stage one – Visioning

“We’d better pay attention to the future,

because that’s where we’re going to spend
the rest of our lives”

The foundation for success

– A clear picture of where WE ARE GOING
(personally, professionally & our business)

– And what we want to be (the RESULT)

29
Stage Two – Strategic planning

Strategic planning is the process of

determining the future of the organization
and what organizational resources will be
needed to achieve organizational goals

30
Stage Three – Business
Planning
Business Planning is the process
– That actualizes the strategic plan

– Takes the long term plan into the shorter term

mission statements

These are supported by goals and action plans

to achieve the mission

If you have other departments, each will have a

mission and a business plan

31
Stage Four – Implementing the
Plan

The real key to success of this process is ACTION!

Vision alone does not ensure success

Without action, the process is just a mental

exercise that is meaningless

Without measurement you can’t see progress

Everything relies on execution

32
Stage Five – Review & Continuous
Improvement

Success requires continued learning and

improvement
There is always something you can do to gain
control over virtually any situation
There is always something you can learn to
become a little bit better
There are always aspects of your business that
change, or SHOULD change, because of growth
or trends

33
How to Get Most from this
Process
The process you are about to start on is
the cornerstone to success in anything you
do (personally, professionally, or for your
business)

Realize that it IS a PROCESS

34
How to Get the Most from this
Process

Knowledge is not power,

Applied knowledge is power

35
What Is Strategic Planning?

It is the process of
– Thinking about and

– Envisioning the future to which you aspire

And the growth you will have to realize to

achieve that future state

36
What Is Strategic Planning?

We will analyze your strengths, weakness,

opportunities, & threats (SWOT analysis)

Key assumptions
– Those factors which, based upon what you
know, will happen or will continue to happen or
effect our decisions

37
What Is Strategic Planning

A pro-active approach to building a business

which allows you to create you future, not simply
react to current business

Define the future you want to create

Establish values

Set clear goals and specific time frames

– Determine the action steps to make the vision reality

38
What Is Strategic Planning

The key ingredient is thought & dreaming

Gathering information, selecting that which

is relevant to success

Brainstorming the possible applications

And exploiting opportunities that have

been discovered

39
Building a Business

Building a business means

– Creating processes & developing your skills
and/or other people who can effectively
perform the business functions

– It isn’t working harder, it’s working smarter

– In the beginning both are required

Discussion?

40
Building a Business

The value of business is not what it can do

with you, but what it can do without you

41
Excuses for Not Planning

Frequently people don’t plan because they don’t know

how to plan
– They lack the knowledge and the skills

Plenty of technical expertise – isn’t that enough?

Some feel that planning is a choice
– Nice to do, but not necessary

If I work hard enough I’ll make it anyway

– Building a business isn’t about surviving
– It’s about succeeding
– Recognize the value, but don’t have the time
42
Excuses for Not Planning

I’ll do it when my company gets bigger

– The facts is, without planning, they will probably never succeed,
much less get bigger

Too busy
– Many businesses are so “busy doing business” on a day to day
basis (fire fighting) that they don’t have time to plan
– The fact is that unless you make time to plan, you’ll waste time,
money & energy and if the mistakes are too great, you will go out
of business

Some don’t know where to begin, or what is realistic or

what is important

43
Benefits of Planning

Helps to Prioritize your activities

– I’ve had clients working on the wrong things
– After the strategic planning, I’ve had a client end up where he thought he
was going before he started planning
– Some activities seem important, but really aren’t
– Focus activities on the important issues that NEED to be done to succeed
– Critical goals versus the trivial many

Shows what responsibilities you may have

It’s THE MOST IMPORTANT TOOL, you’ll have to build success
(personally, professionally or in business)
It is the path to
SUCCESS NO MATTER WHAT YOU DO!
44
Your vision, Your Dreams

Your vision is your mental snapshot of where

you see
– You personally
– You professionally
– Your business

It describes who you (or your company) is

CAPABLE of becoming, & why you are unique
and important
It answers the question: “What do you want to
become”
45
Why Should You Create a
Vision?
Vision-driven leaders and their companies
significantly outperform their competitors

If you want to consistently outperform you

must have a powerful, compelling vision

46
Why should you Create a
Vision?
Focus

With urgency, there is focus

With confidence, there is urgency

With direction, there is confidence

With vision, there is direction

47
Creating a Vision Statement

As soon as you begun visioning, you must crystallize your

vision with a powerful vision statement (a description of
the future as you want it)
The foundation for your planning process, in fact, the
foundation for your business is your vision of the future
A vision gives meaning to an organization’s existence
A powerful vision is vivid. You can see, hear, taste, feel
and smell it
It is easy to understand
It sparks creative ideas
It is not random dreaming, it is focused, a technique that
has developed winners for decades 48
Rework Frequently

I’ve heard some consultants say

– “a strategic plan is cast in stone & won’t change.”

That should not be the case

A strategic plan becomes something we can look at & once we can see it
clearly (more clearly than we’ve ever been able to see our business
before) then we see ways to make it better
Once we start thinking about ways to achieve the vision, then it is on our
mind in everything we do, so we are constantly finding new ideas to
achieve our vision
Once we have a vision, we frequently improve on it in the next few
weeks, so don’t be afraid to change it
However, we should be narrowing in on a singular purpose, and not
losing focus

49
Can You see Where You Want
to Go?

50
 Chapter 2
A Passion for Succeeding
Values & Principles
Values

Add meaning to your vision to establish

values

52
Values

How do we see our relationship with:

– Our Employees

– Our Customers

– Our Suppliers

– Our Stockholders

– The Community

– All Others

53
Values

Achievement & excitement must be tempered,

however, by values, lest people pursue goals
without consideration for ethics or other people
The foundation for business today is provided
through values & value-based decisions &
behaviors
Business values define the beliefs, standards &
acceptable behaviors
Values ensure that we perform with integrity,
honor, and consideration for what is the right
thing to do
54
Values

Vision

Provides direction

Values

Determine Rightness of direction

Decision Making

The Core values of he organization lay the foundation

and provide the framework for decisions
55
Values

They serve as a guide for all in the organization,

who through their individual efforts, will
collectively achieve the organizational goals

As you determine your goals, consider what you

– Know to be “right”

– As well as how you want to be known by others

56
Value Examples

To be regarded by our customers as easy to deal with

and as a provider of high-quality, reliable products &
services
The customers must always be made to feel as though
they are right
Our employees are our most important asset, and we
will strive to treat them with respect and fairness
Our 1st concern is for our customer. Our 2nd concern
is for our employees. Our 3rd concern is for our
management. Our 4th concern is for our community. Our
5th concern is for our stockholders.
Treat others as they want to be treated 57
Ensuring Your Success

Building a business is an opportunity to succeed,

to become known
Yet it has it’s problems, and sometimes failure
The key is not in avoiding defeat, or to be lulled
into complacency by victory
Rather it is learning from both and continuing to
strive, improve, and achieve even grater
victories
Fear of failure is one of the biggest reasons for
failure
58
The Success Formula

Why do some seem to always succeed

almost effortlessly, while others who seem
to work hard, fail?

59
The Success Formula

Do those who succeed

– Have certain skills

Do those who fail

– Lack intelligence, or experience, or skills or
capital?

60
Formula

A * (S + K) + Goals = PBC = IRº

P
V & B (f) C = 88%

-------------------------------

73%
-------------------------------
-------------------------------
++++
27%
-------------------------------
++++

61
Those Who Succeed Have Common
Traits

A few of the traits of successful people

confidence/a belief they CAN succeed, attitude
They learn from failures and are not discouraged by them
They learn from successes and do not become complacent
They set goals/targets, measure their progress toward them,
& are constantly fine tuning the process to get better
– Learning from what is working
– Learning from what is not working (or not working well)
– Then readjust
62
Common Reasons Why Businesses
Fail

 Lack of knowledge of the business they are in

 Lack of vision and purpose by principals

 Lack of financial planning and review

 Overdependence on specific individuals in the business

 Poor market segmentation and/or strategy

 Failure to establish and/or communicate company goals

 Competition/lack of market knowledge

 Inadequate capitalization/under funded/poor cash flow

 Absence of standardized quality program

 Owners concentrating on technical, rather than strategic work at hand

63
Developing Success Attitudes

Your belief in yourself and your ability to

achieve will influence your ability to deal
with others

A negative attitude about yourself and your

worth, or about worth of others, will be like
an anchor, pulling away from success

64
Key to Develop Strong Success
Attitude

First
– Your attitudes have been developed, they can
therefore be changed or developed to be more
conducive to your success
– That change or strengthening process can only
begin with you

Second
– Any meaningful & lasting change must occur over a
period of time & evolve from conscious, daily input of
positive, growth-oriented ideas
– Success attitudes result from repetitive, positive input
over a period of time 65
Affirmation

The most common form of success

attitude reinforcement

Helps develop confident attitude toward

success

Can help overcome negative attitudes

66
Affirmation Qualities

Positive

Statements in the first person & expressed in

the present tense

Within the realm of your capacity to believe

(realistically high)

Directly related to your goals & those qualities

you seek to develop

Yours, written by you, for you

67
Examples of affirmations

Write on a 3x5 cards. Keep them where

you will see them constantly

“I boldly confront “I gently lead

& conquer the others to wanting “making Cold
challenges of to do business calls is essential
succeeding!” with me!” to my success.
I can do it.
Once I’ve started
“I am a respected the pain will
“I am the top
and successful subside!”
salesperson!”
businessperson!”

68
 Chapter 3
Developing a Competitive
Edge
Becoming a World Class Competitor
Becoming a World Class Competitor
Assessment

Evaluate current conditions

– Externally

– Internally

How will these impact our success?

70
External Assessment

Economy
Industry
Market Segments & Opportunities
Competitive Analysis
Which issues do we have control over?
Which issues do we not have control over?
Trend Analysis

71
Customer segments

A portion of the market where there

are similar customer needs!

72
Customer segments Examples

Individuals between the ages pf 35 & 40

People seeking prestige
Professionals earning over $100,000/Year
Businesses having over 300 employees located
within a fifty mile radius
Minority-owned businesses
Homeowners (as opposed to renters)

73
Customer segments

Customer segments may vary from

– Industry specific to industry general

– Specific income bracket to all income brackets

– Geographically concentrated to
geographically dispersed

74
Customer Segment

Entrepreneurs & small businesses that

provide a service frequently have a very
large and diverse market

As compared to a manufacturer that

produces a part that is used in one type of
equipment

75
Customer Segment

If you are working with internal customers

(internal to company), what do your
customers look like?

76
Customer Segment

With a focus on customer segments &

customer expectations

We can see opportunities more clearly

77
Customer Segment

Vicks took a traditional cough medicine that

made people sleepy

Renamed it NyQuil

And went after a new market

78
Competitive Analysis

Why do we want to look at the competition?

79
Competitive Analysis

How competitive is:

– The Product/Service
– The Company

Who are the Competitors

What are they doing?
– Right
– Wrong

Are they growing or declining, and why?

80
Competitive Analysis

How do we compare to the competition?

How do we differentiate our company form the
competition?
What sets us apart?
What are our strengths & weaknesses and how
do they compare to the competition?
Why should the customer buy from us instead of
the competition?

81
Trend Analysis

What changes are taking places:

– In our industry?

– In our competitors?

– In our customers’ industry?

– In other areas of our world?

– In our business?

– In our product or service?

82
Trend Analysis

I see companies in the US that are

complaining that they are at the mercy of
the economy (victim of the economy, or
victim of what else?)

83
Trend Analysis

But I work with companies every day that

are doing extremely well. They are not held
back by anything!

84
Trend Analysis

What is the difference between those that

succeed (even in a down economy, down
industry, etc.) and those that are victims of
whatever is blowing in whatever direction?

85
Trend Analysis

What’s different today about the markets we serve?

– The markets served by
My customers?
My competitors?

What will be different tomorrow?

How can these changes influence the products or services I offer?
What are the trends taking place in
– My customer’s business
– My competitor’s business
– the industry
– Similar products
– Are there other things we should be looking at?
86
Trend Analysis

Structure & Function

Resources

Strengths & Limitations

87
Trend Analysis

Vision

Plan

Implement

88
Trend Analysis
THE LOGICAL FUTURE
The future is an extension of the past

Future
Present
Past

THE “WILLED” FUTURE

The future is anything we will it to be

Future

Present
Past
89
Internal Analysis Organizational
Structure

Are we easy to do business with?

– Eliminate all hassles?

Is the way a customer places an order an easy

process?
How do we
– Respond, and
– How quickly,
– When a customer has a problem or needs us?

90
Internal Analysis Resources

A company is a collection of resources

– Land
– Equipment
– Capital
– Products
– Support
– Demonstration
– People

91
Internal Analysis Resources

Utilizing those resources effectively &

productively is extremely important

The goals you accomplish will be

dependent on the action you take with the
resources you have available or acquire

92
Internal Analysis Resources

Understanding our markets allows us to

better understand what we will need to do
to ensure that we can effectively
– Compete

– Succeed

– Keep the customer happy

93
Internal Analysis Strengths &
Limitations

Identifying our
– Strengths
To capitalize on those strengths to be better than our
competition
To understand why we are good & feel good about it
To be able to sell it/market it

– Weaknesses
To identify where we need to improve
To improve to become better, more competitive

94
Developing a Base strategy

Commodity-driven focus

Technology-driven focus

Quality-driven focus

Service-driven focus

95
Developing a Base Strategy
Commodity-driven Focus

Differentiation Price Sensitivity

Use when there is not

much differentiation
between our products
& the competitor’s
High differentiation = Low Sensitivity
To differentiate you Porsche vs. Yugo
We do not expect the price to be similar

might choose either

pricing or value to
differentiate
Low differentiation = High Sensitivity
Apples vs. Apples
We will shop for lowest price 96
Developing a Base Strategy
Technology-driven Focus

Use when you have a technological advantage,

or in a market where superior technology
provides a competitive advantage

Usually requires a massive investment in R&D,

or an active involvement in partnering
agreements with either emerging companies, or
companies who have the technology but are not
selling into your market or industry

97
Developing a Base Strategy
Quality-driven Focus

This assumes that your product or service is superior in

quality to those of the competitors
Requirements:
– You must have systems in place to create & maintain this
leadership
– Continuous improvements
– Tightly monitoring development, production & execution
– Identify quality indicators such as rework, warranty claims &
complaints, and regularly measure them

With the right processes, systems & people

– This focus can put you in a position to always exceed your
customers’ expectations in quality
98
Developing a Base Strategy
Service-driven Focus

Use if in a position of being unable to

differentiate your products or services in terms of
price, technology or quality
Focus on value-added benefits of doing business
with you
Possibly focus on service, delivery, follow-up,
training, packaging, guarantees, convenience,
saving time, or other value-added benefits
important to the customer

99
Developing a Base Strategy
Customer-driven Focus

Places a premium on going beyond meeting

customer’s expectations

Focuses on exceeding the customer’s

expectations

Important that everyone in company be trained &

empowered to have that focus

Internal communications & response time is

important to achieving this

100
Selecting a Base Strategy
Describe
Current
Focus
 Customer Input
 Trends
 Competitor’s Strategies
 Employee Input
Evaluate
Current
Focus

Identify
Alternative
Focus

New
Focus Accomplishment of Mission

101
 Chapter 4
Effective Planning
Techniques
Business Planning
Business Planning Process
Strategic Thinking & Business Planning Process
Vision
Strategic Plan Values
Systems

Internal Appraisal
External Assessment Long Term Structure
Customer Segments Goals & Resources
Competitive Analysis Objectives Strengths & Weaknesses
Trend Analysis
Key Assumptions

Base Business
Business Plan Focus
Mission Statement
Customer base
Reviews What to Achieve
Continuous Feedback
Customers How Measured
Budgeting Employees
Suppliers
Monthly Business Critical Goal
Sales Plan Reviews Categories

Programs
Performance Marketing Business Goals
Indicators Plan/Programs Plan Statements 103
Business Planning

The strategic planning process is essentially

complete

We have
– Developed a vision statement

– Analyzed external & internal factors, and

– Developed the strategy

We are ready to start the business planning

104
Business Planning

The steps that will help you turn your

thoughts and strategies into:
– Goals

– Plans, and

– Actions steps

Which will turn your vision into reality

105
Business Planning

This step involves:

– Developing a mission statement

– Identifying critical success factors

– Setting goals

– Creating a market plan

– Developing a sales plan

– Financial projections

106
Business Planning

The business plan differs from the strategic plan in that:

– The strategic plan focuses on the long-term future by helping you
focus on and plan the present
– The business plan will help you identify
What specific actions must be accomplished,
Who will accomplish them,
How they are going to be accomplished, & by when,
So that the future you envision will become a reality

– It can, and probably should, contain the phases or steps along

the way

107
Business Planning

Your vision is a color picture of he future

Your mission is the developing process

A vision expresses what you want to become

Your mission statement will express how
you’re going to get there

108
Business Planning Mission
Statement

A statement what describes how the vision will

be achieved during a specific time frame
Provides Direction
– Boundaries of business
– Where organization is going
– Customer population
– Direction for employees
– What to be done

109
Business Planning Mission
Statement

Has a shorter focus than the vision

– Usually 12 to 36 months & will change based on
business conditions
– The actual time is not important
– What IS important is having a specific time frame &
target date

The Mission Statement serves as the basis for

developing goals & plans
It should address customers, products, principal
services, and qualities that make you and your
business unique 110
Business Planning Mission
Statement
Should meet the following criteria:
– Clear
– Involving
– Memorable
– Aligned with company values
– Directed at company vision
– Linked to customers’ needs
– Seen as a stretch – difficult, but not impossible
– Measurable

111
Business Planning Mission
Statement

The successful companies

– Create the future they want
– Proper planning prevents poor performance

Taking time now to define the aspects of

our business & the growth we want to see
will provide the luxury of time that you’ll
need tomorrow to develop your excellence
and future growth

112
Business Planning Excellence
Every Time
Haste makes waste
There will be times when you believe time is the most
precious commodity
– In fact, often in trying to get more time, you hurry
– When you hurry, you are more likely to make mistakes
– Mistakes mean rework
– Rework means more time (which you already don’t have) and
additional cost, both of which result in lower profits and the
possible loss of customers

Doing things right the first time eliminates the hidden

costs of rework

113
Business Planning Excellence
Every Time

Speed is an important factor in succeeding in

today’s competitive environment, and taking the
time to do things right the first time will ultimately
take less time and be appreciated by your
customers and clients
Doing it now
Strategic thinking and planning will help you
develop the plans and strategies to manage your
time, rather than having it mange you!

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Business Planning Shortening
Your Learning Curve

The various roles you play in your business and

the various tasks you perform will require
different skills and focus
Some will be comfortable, some will not
Some knowledge you already possess, and
some you will have to acquire
Speed is of the essence
The faster you grow the faster your business
will grow
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Business Planning Shortening
Your Learning Curve

ASK is a valuable cornerstone to build your

future

Ask questions and listen carefully

Seek opportunities to meet people and join

clubs, associations, and organizations

Knock on every door looking for

opportunities
116
Business Planning Shortening
Your Learning Curve

Everyone has setbacks

– Expect them

– Look forward to them

– Use them to learn and jump to higher levels of

success

117
Business Planning Shortening
Your Learning Curve
Business Leaders who take the time to create a strategic
plan find that they are able to create a level of motivation
and commitment that fuel continuously higher levels of
achievement
They can overcome
– Procrastination
– Inertia
– Fear and
– Bad economic conditions

Because they have a clear vision & strategy

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 Chapter 5
Execution Is Everything
Critical Goals Categories
Critical Goal Categories

What must happen, or

What we must make happen for our

mission to be achieved?

120
Critical Goal Categories

Most people and companies are trying to

manage 50-60 things at once

Psychologists tell us that we can only

manage 5-6 things at a time

So, what does that mean to us?

121
Critical Goal Categories

In most cases
– We end up managing only those things that
literally surprise us or cause us the most pain

– We are not managing the things that would

achieve our strategic plan or our business plan

122
Critical Goal Categories

We must focus on the things that will

achieve the long term vision, and the short
term business plan

The others are often just waste

123
Critical Goal Categories Examples

Customers
Cash flow
Best-of-breed product quality
Quality suppliers
Motivated, skilled workers
Product packaging which meets the needs of selected segments
Lowest delivered cost
Sales representatives in a specific geographic area
Warehousing or distribution in a specific geographic area
Specific capabilities for selected market segments
New market penetration
124
Business Planning Goals

Critical Goal Categories tend to be general,

but they must be connected to business
planning goals which are VERY specific

125
Business Planning Goals

Major goals are accomplished by

achieving the smaller goals

Specific, challenging goals lead to better

performance than vague or easy goals

the following are some examples of vague

vs. specific goals

126
Business Planning Goals Examples

Hazy Goals
Specific Goals
Increase revenues $250,000 additional revenues within the
next 12 months

Improve sales skills Successfully complete a sales training

program by 9/15
Increase sales by 20% by June 1
Get in shape
Do 20 minutes of aerobic exercise daily
Be able to lift 20 pounds more by June 1

Be a success Realize a 20% growth in revenues with a

corresponding increase in profits by end
of next quarter

127
Business planning Goals

Goals should be S.M.A.R.T.

– Specific

– Measurable

– Attainable

– Reachable (with a challenge)

– Timebased

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Inventing the Future