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Strategic Planning for an Exceptional Company

Develop an effective strategic plan for business success. Understand components, create alignment, set goals, measure outcomes, and adapt for growth. Ensure proactive management with clear communication.

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Strategic Planning for an Exceptional Company

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  1. Strategic Planning Defining and Creating an Exceptional Company Phillip Rosebrook JR, CR Business Mentors

  2. Imagine • 1 year • 3 years • 5 years • 10 years

  3. … Planning to Fail • What are you doing substantially different this year • Are you experiencing the same day • Life is a series of choices - so is your business • There is very little that you have to doYour position is the result of your plan or lack of

  4. Proactive Businesses • Synergistically working toward shared destination • Lack of plan forces subjective & reactive decisions

  5. What You Want to be When You Grow up? • Benefits • Communicated • Measured • Implemented • Coached • Celebrated • A comprehensive Approach

  6. Your Business is Not about Jobs or Accounts • Big picture framework • Details paint the picture • Predictable decisions

  7. Components of an effective plan • Destination • Partnership alignment • Vision • Strategic Goals • Financial and objective measurements

  8. Plan Components • Cash plan • Personnel plan • Operating budget • Staff development • Marketing action plan • Plan review and realignment

  9. Destination • Owner motivations • What is truly important to you? • What does it look and feel like - more detail the better • When things are working well…

  10. Partnership Alignment • Values • What are you working for? • Imagine your life in 10 years • Are you on the same page • Job descriptions • Compensation • Skills and needs • Exit plan and strategy

  11. Vision • People want to be a part of something bigger • More clearly defines destination • Easily communicated to your staff • Potentially more subjective than goals • How are you perceived

  12. Strategic Goals • Core goals about 5 total • Goal definition • Longer term big picture with short term component • Focus on core business activities and needs.

  13. Modeling your Organization • Production capabilities • Gross and net margins • Key operational expenses • Capital requirements

  14. Financial and Objective Measurements “In order to effectively manage you need to have effective measurements.” • Financial understanding required • Dynamic measurements needed • Objective measurements prevent subjective decisions • Roadmap to your destination • Individual, team, departmental expectations • Enables easy performance management • Allows you to model your company • Core of effective management

  15. Cash Planning • Understand the turn on receivables and how to turn revenue to cash • Funding Options • Internally funded • Bank or other funding

  16. Personnel Plan • Hire to your weaknesses • Look to your business model • Financially justify each position • Explore profiling to manage “fit”

  17. Operational Budget • Start with goals and build backwards • Expectations • Marketing - 2%-5% of revenue • Sales and production - less than 10% • Total overhead - 25%-40% • Equipment, vehicles, facilities need to be justified financially • Rent, lease, own?

  18. Staff Development • Formal training - plan training activities and opportunities - strategic not reactive • Ongoing internal training program • Scholarships and outside oportunities • Upward mobility & develop a deep bench

  19. Marketing Action Plan • First step is goal setting • Match actions to goal acheivement • Set budget based on expectations - 1.5% -5% or revenue • Team approach not department • Sales-based culture • Measure and reinforce • Create a strong online presence

  20. Plan Review and Realignment • Bump into - review often • Market conditions • Quarterly review • Annual planning

  21. Implementation Action Plan • Planning is good - Execution is essential • Unwrap and plan and prioritize • Strong communications • Short term victories with long term focus • Expectations, modeling and coaching • Enjoy the journey • Plan and personnel assessments • Don’t be afraid to make adjustments

  22. Constraints of Growth • Organizations are limited not by strengths but greatest weaknesses • Plan needs to address and shore weaknesses • Avoid hiring to strengths • Make your plan realistic • Cash considerations

  23. Effective organizations • Proactive • Strong leadership • Balanced approach • Clear communications • Coaching and celebration

  24. Adaptation • Maintain focus • Things change • Market conditions • Cash flow • Goal when things slow

  25. Managing Changes • COMMUNICATION • What stays the same • Strategically plan the changes • Create contingencies • Know when to walk away from your plan • LEADERSHIP

  26. Strategic Plan Summary • Begin with the end in mind • If you are not in control of your company - someone else is • Proactive planning creates synergy • A company or a job? • Make your time count

  27. Thank You Phillip Rosebrook JR, CR Phillip@businessmentors.net

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