Strategic Planning for Small Business

Will your business be any better next month?

Only, and if only, you put a plan in place to change it.  It’s the beginning of the 2^nd quarter. Start it with a simple plan that’s all on 1 page… a plan that connects your long term goals for your business to the activities that your team members wake up planning to do today.

Earlier this month I shared this tidbit from Verne Harnish when he talked with the head of GE’s famous Crotonville executive training center:

 “In planning, the middle is gone. You only have to define 2 points: where you plan to be 10 to 25 years from now and what you have to do in the next 90 days.”

I believe in a simple, 1-page strategic plan that gives you a line of sight from your long-term goals to the activities that you need to do today that’ll get you to those long-term goals. Strategic planning for small business owners is so important that every quarter I run a workshop in central Indiana, pricing it only to cover my cost. Small business owners come together and help each other complete their 1-Page Strategic Plans—it’s become a ritual for all of us. You can download a free copy of the 1-page strategic plan here and complete one for yourself.

 I thought you’d like to see a sample of how one small business owner’s strategic plan connects her 10-30 year goal to her staff’s daily activities:

10-30 year goal –

Produce exceptional architecture that provides solutions which respond to the unique circumstances of each customer and at the same time, through the emotive qualities of the materials, brings out the richness and power and beauty of the surroundings.

• Live a healthier life
• Reduce work hours to 30/week
• Travel to Asia
• Spend more time with family
• Develop a strong leadership team

3-5 year goal – Dec. 31, 2019

•  Revenues $8,500,000
•  Gross profit $4,250,000
•  Net income $850,000
  • Add new product lines
  • Launch new services
  • Create succession plan
  • Mobile equipment for office, decrease lease expenses by half

1 year goal – Dec. 31, 2015

• Revenues $5,500,000
• Gross profit $2,200,000
• Net income $330,00
• Increase sales by 23%
  • Increase gross margins by 20%
  • Become content marketing specialists, optimize blog
  • Increase customer satisfaction to 98% average score

Quarter 2 goals – Jun. 30, 2015

• • Revenues $1,375,000
  • Gross profit $550,000
  • Net income $82,500
    • Sales booked $900,000
      • Strategy 1 – Complete bookings with Bayre and Comm
        • Task 1 – Set up meeting with Bayre owner and CFO together – Karl, by Apr. 15
        • Task 2 – Set up intros with 10 new prospects – Mari, by Apr. 15
        • Task 3 – Make weekly calls on ABC Typeset, HIJ Auto – Karl, each week
      • Strategy 2 – Speed up ordering process
        • Task 1 – Design new process – Joe, by May 15
        • Task 2 – Implement new process – Joe and Jim, by Jun 15

This gives you a good idea of how to complete your own plan. Give it a try then join us at the 2^nd quarter 2015 Growth Plan Workshop. I and fellow business owners will help you refine it. The day includes an educational period, work in small groups, a fun exercise, and hot lunch together. At the end of the day you’ll have a long range strategic plan and an executable Action Plan for the next 90 days.

Fri., Mar. 27, 2015, 9—4pm

Hilton Garden Inn Indianapolis Airport, 8910 Hatfield Dr., Indianapolis  46231

To register, click here.

You’ll walk away with:

• A clear picture of where you want your business to be in 10-30 years, a 3-5 year plan, a 90-day plan, & a ready-to-implement action plan to get you there
• Your 12-month goals broken into bite-size quarterly goals, monthly milestones, & weekly actions
• Strategies to build your profits right away
• A network of like-minded business owners

Cost is $247 at the door, $187 in advance, and FREE for clients.  Until March 23, you can take advantage of an Early Bird Special for $97.

Strategic planning for small business — I guarantee you’ll see improved profit.