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Presenter: Tony Thomson Theme – Business review

The Business Club 26 June 2012. Presenter: Tony Thomson Theme – Business review. Overview:. Current look at your business compared to your aspirations (brief discussion) Setting your goals for the next period of time Introduction to the one page business overview tool

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Presenter: Tony Thomson Theme – Business review

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  1. The Business Club 26 June 2012 Presenter: Tony Thomson Theme – Business review Our Experience | Our Expertise | Your Advantage

  2. Overview: Current look at your business compared to your aspirations (brief discussion) Setting your goals for the next period of time Introduction to the one page business overview tool Extracting critical success factors (CSFs) Prioritising these to match business goals and customer expectation Keeping on track to achieve goals by reviewing your business regularly (Quarterly/six-monthly etc.) Summary Our Experience | Our Expertise | Your Advantage

  3. Review: Look at your business intentions compared to your aspirations Do you have specific goals for the current year? Are these measurable? Our Experience | Our Expertise | Your Advantage

  4. Review: Gail Mathews – Dominican University of California Our Experience | Our Expertise | Your Advantage

  5. Review: • Setting your goals for the next period of time • For review purposes, never have more than 5 goals and make them broad. • In the operational business plan you can break them down into more specific items. • In general these goals will be • Financial • Marketing • Operational • Growth • Value development Our Experience | Our Expertise | Your Advantage

  6. Review: Introduction to the one page business overview tool This seeks to structure a review of your business using five broad areas each by making five statements in each area. Not four or six, but five and this needs to cover the whole extent of the business. Our Experience | Our Expertise | Your Advantage

  7. Focus on the Business Plan… Start with a clean A4 sheet of paper…

  8. Focus on the Review…

  9. Focus on WHAT… • WHAT? • Which FIVE statements best describe what the business is going to do? • Aaaa • Bbbb • Cccc • Dddd • Eeee

  10. Focus on WHY… • WHAT? • Which FIVE statements best describe what the business is going to do? • Aaaa • Bbbb • Cccc • Dddd • Eeee • WHY? • Which are the FIVE most important reasons for the business? • Aaaa • Bbbb • Cccc • Dddd • Eeee

  11. Focus on HOW… • WHAT? • Which FIVE statements best describe what the business is going to do? • Aaaa • Bbbb • Cccc • Dddd • Eeee • HOW? • Which FIVE statements best describes how the business will be run? • Aaaa • Bbbb • Cccc • Dddd • Eeee • WHY? • Which are the FIVE most important reasons for the business? • Aaaa • Bbbb • Cccc • Dddd • Eeee

  12. Focus on WHEN… • WHEN? • Which are the FIVE most critical milestones to secure success? • Aaaa • Bbbb • Cccc • Dddd • Eeee • WHAT? • Which FIVE statements best describe what the business is going to do? • Aaaa • Bbbb • Cccc • Dddd • Eeee • HOW? • Which FIVE statements best describes how the business will be run? • Aaaa • Bbbb • Cccc • Dddd • Eeee • WHY? • Which are the FIVE most important reasons for the business? • Aaaa • Bbbb • Cccc • Dddd • Eeee

  13. Focus on WHO… • WHEN? • Which are the FIVE most critical milestones to secure success? • Aaaa • Bbbb • Cccc • Dddd • Eeee • WHAT? • Which FIVE statements best describe what the business is going to do? • Aaaa • Bbbb • Cccc • Dddd • Eeee • HOW? • Which FIVE statements best describes how the business will be run? • Aaaa • Bbbb • Cccc • Dddd • Eeee • WHY? • Which are the FIVE most important reasons for the business? • Aaaa • Bbbb • Cccc • Dddd • Eeee • WHO? • Who are the FIVE most important facilitators (people or otherwise)? • Aaaa • Bbbb • Cccc • Dddd • Eeee

  14. The One Page Business Overview Strategyplatform! Marketing brief! Managementand Partners! Criticalpath! Share holdervalues! • WHEN? • Which are the FIVE most critical milestones to secure success? • Aaaa • Bbbb • Cccc • Dddd • Eeee • WHAT? • Which FIVE statements best describe what the business is going to do? • Aaaa • Bbbb • Cccc • Dddd • Eeee • HOW? • Which FIVE statements best describes how the business will be run? • Aaaa • Bbbb • Cccc • Dddd • Eeee • WHY? • Which are the FIVE most important reasons for the business? • Aaaa • Bbbb • Cccc • Dddd • Eeee • WHO? • Who are the FIVE most important facilitators (people or otherwise)? • Aaaa • Bbbb • Cccc • Dddd • Eeee 1. Budget

  15. Extracting CSFs Extracting critical success factors (CSFs) Taking your business as a whole, what five things would prevent the business from achieving its goals and rephrase these positively Overcoming these problems will be critical to the success of the company so they are critical success factors (CSFs) Our Experience | Our Expertise | Your Advantage

  16. CSFs List the CSFs here A – B – C – D – E – Our Experience | Our Expertise | Your Advantage

  17. Prioritising CSFs Hi Urgency wrt clients Lo Hi Draw a square box with axes as shown Urgency wrt to corporate strategy Lo Our Experience | Our Expertise | Your Advantage

  18. Prioritising CSFs Hi Urgency wrt clients Lo Hi Draw a square box with axes as shown Place CSFs onto square based on the stated urgencies A D B Urgency wrt to corporate strategy C E Lo Our Experience | Our Expertise | Your Advantage

  19. Prioritising CSFs Hi Urgency wrt clients Lo Hi Draw a square box with axes as shown Place CSFs onto square based on the stated urgencies Draw diagonal lines of balanced urgency A D B Urgency wrt to corporate strategy C E Lo Our Experience | Our Expertise | Your Advantage

  20. Prioritising CSFs Hi Urgency wrt clients Lo Hi Draw a square box with axes as shown Place CSFs onto square based on the stated urgencies Draw diagonal lines of balanced urgency Prioritise CSFs from top left to bottom right A 1 D 4 B 3 Urgency wrt to corporate strategy C2 E 5 Lo Our Experience | Our Expertise | Your Advantage

  21. Exploding CSFs • For each critical success factor: • List five things that would prevent each CSF from being achieved. • This gives you 25 obstacles between now and achieving your stated goals • This gives you 25 milestones that you can tick off as you achieve them Our Experience | Our Expertise | Your Advantage

  22. Aligning action to goals Focus on overcoming the 25 obstacles in prioritised order. Set aside time to focus on them This approach keeps you strategically focused. You will still have to deal with the daily stuff, but your strategy is being followed. Our Experience | Our Expertise | Your Advantage

  23. Aligning action to goals Our Experience | Our Expertise | Your Advantage

  24. Regular reviews • Quarterly or more frequently if desired • Three pages of A4 • Basis of an operational business plan • Measurable steps for your strategy • Checklist for milestones • Easily communicated and reviewed Our Experience | Our Expertise | Your Advantage

  25. Summary: We covered the following things and hopefully the journey has been enjoyable: Current look at your business compared to your aspirations (brief discussion) Setting your goals for the next period of time Introduction to the one page business overview tool Extracting critical success factors (CSFs) Prioritising these to match business goals and customer expectation Keeping on track to achieve goals by reviewing your business regularly (Quarterly/six-monthly etc.) Summary Our Experience | Our Expertise | Your Advantage

  26. The Business Club 26 June 2012 Presenter: Tony Thomson Theme – Business Review Thank you for your time, I hope you found this exercise useful Our Experience | Our Expertise | Your Advantage

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