The Ultimate Business Improvement Plan for Those Too Busy To Plan

The Ultimate Business ImprovementPlan for Those too Busy to Plan:7 Doable Initiatives You Can Take NOW toImprove Your Business TomorrowProfessionalDevelopment SeminarMay 2, 2013Presented by:Clyde S. Taylor

Why is this Seminar Critical?• Business is becoming more and morechallenging.• Need for “balanced focused” in our businesses.• Operations – HR – Marketing – Customer /MemberCare & Support – Collaborative Partnerships – Etc.• No time to plan!!

Elements of an Effective Business Plan• Executive Summary• Company Overview• Industry Overview• Competitive Analysis / Situation• Company Resources• Company’s Unique Qualities• Company’s Advantages• Basic Financial Condition• Financial Forecast and Budget• Goals, Strategies, Tactics

Elements of YOUR Business Plan…• The Three Phases of an Effective Business PlanAssessmentBusinessPlan CycleActionPlanning

Elements of YOUR Business Managementand Growth Plan• Assessment• Initiative #1• Initiative #2a & 2b• Initiative #3• Planning• Initiative #4• Initiative #5• Action• Initiative #6• Initiative #7

7 Doable Initiatives to Take NOW#1: Assess Last Year’s Business• Identify / Assess / Evaluate• Goal: Don’t take a step back• Keep moving forward• Identify “what you need” versus “what youwant”

7 Doable Initiatives to Take NOW#1: Assess Categories…• Revenue• Sales, profit, growth, category sales• Equity / worth• Products / Services• Customer expectations• Operational efficiencies• Promotional / Marketing effectiveness

7 Doable Initiatives to Take NOW#1: Assess Last Year’s Business• Ask yourself:• What will I do again this year based on lastyear’s performance and impact?• What do I need to stop doing or modify base onlast year’s performance / impact?

7 Doable Initiatives to Take NOW#1: Repeat again this year if…• Increased revenue• Sales, profit, growth, category sales• Increased equity / worth• Met or exceeded our business goals• Met / exceeded customer expectations• Improved operational efficiencies

7 Doable Initiatives to Take NOW#2a: Identify Your Unique Value• What makes you special?

What’s Your VALUE Message?Mental Billboard…

What’s Your VALUE Message?Visit Beautiful (XYZ)County…[Blah..blah..blah]

What’s Your VALUE Message?Visit Beautiful NorthernCounty…Blah..blah..blah

Your Value PropositionWhat YouDo Well

Your Value PropositionWhat YouDo WellWhat YourCustomersWant, Need& Value

Your Value PropositionThis is Your Value PropositionWhat YouDo WellWhat YourCustomersWant, Need& Value

Your Value Proposition Worksheet• Develop your Value Proposition for each ofyour customer groups.Customer / TargetedGroupList of SpecificValues / Benefits(Prioritized List)Values / Benefits forTargeted CustomerGroupExisting Customers(B-2-B)Existing Customers(Consumers)ProspectiveCustomers(B-2-B or Consumers)Community or TravelPartners1.2.3.1.2.3.1.2.3.1.2.3.1.2.3.1.2.3.1.2.3.1.2.3.

7 Doable Initiatives to Take NOW#2b: Identify How and Where toCommunicate Your Unique Value• Diverse communications “platforms”• Targeted communications• Value-based communications

7 Doable Initiatives to Take NOW#3: SWOT Analysis• Strengths• Weaknesses• Opportunities• Threats

SWOT AnalysisInternalStrengthsOpportunitiesWeaknessesThreatsExternal

SWOT AnalysisStrengthsWeaknessesInternal• Unique capabilities• Corporate advantages• Existing resourcesOpportunitiesThreatsExternal

SWOT AnalysisInternalStrengths• Unique capabilities• Corporate advantages• Existing resourcesOpportunitiesWeaknesses• Achilles heal?• Disadvantages• Resource and capabilitylimitationsThreatsExternal

SWOT AnalysisInternalExternalStrengths• Unique capabilities• Corporate advantages• Existing resourcesOpportunitiesWeaknesses• Achilles heal?• Disadvantages• Resource and capabilitylimitationsThreats• Resistance to change• Lack of interest or motivation• Economy / Unemployment• Mismatch of resources and/orstrategic direction• High risks or impossible odds

SWOT AnalysisInternalExternalStrengths• Unique capabilities• Corporate advantages• Existing resourcesOpportunities• Changes in social, economic,political environment• New technology / processes• Partner, staff, industrycapabilities• Organization flexibility andfocusWeaknesses• Achilles heal?• Disadvantages• Resource and capabilitylimitationsThreats• Resistance to change• Lack of interest or motivation• Economy / Unemployment• Mismatch of resources and/orstrategic direction• High risks or impossible odds

SWOT AnalysisInternalStrengths• Unique capabilities• Corporate advantages• Existing resourcesOpportunitiesGAPSGAPSWeaknesses• Achilles heal?• Disadvantages• Resource and capabilitylimitationsThreatsExternal• Changes in social, economic,political environment• New technology / processes• Partner, staff, industrycapabilities• Organization flexibility andfocus• Resistance to change• Lack of interest or motivation• Economy / Unemployment• Mismatch of resources and/orstrategic direction• High risks or impossible odds

SWOT AnalysisInternalStrengths• Unique capabilities• Corporate advantages• Existing resourcesOpportunitiesGAPSGAPSWeaknesses• Achilles heal?• Disadvantages• Resource and capabilitylimitationsThreatsExternal• Changes in social, economic,political environment• New technology / processes• Partner, staff, industrycapabilities• Organization flexibility andfocus• Resistance to change• Lack of interest or motivation• Economy / Unemployment• Mismatch of resources and/orstrategic direction• High risks or impossible odds

7 Doable Initiatives to Take NOW#4: Identify Top 5-7 Primary Goals• Based on your Annual Assessment• Based on your SWOT Analysis• Based on Your Ability to Implement• Time, Talent, Resources• Categorize goals:• Efficiency versus Effectiveness• Effectiveness: “Doing the right thing”• Efficiency: “Doing things right”

7 Doable Initiatives to Take NOW#5: Identify 3 “areas of opportunity”that can have a significant impact onbusiness improvement in 2013 - 2015.• Identify collaborative partnerships tohelp make it happen!

7 Doable Initiatives to Take NOW#6: Update Your Website• Most important marketing priority• “Refresh” / update content

7 Doable Actions to Take NOW#7: Your “3 + 3 Plan”• Simplification tool for staying focused

The “3 + 3 Plan”Create a “3 + 3 Plan” for your Company• Focus on 3 “things” you want / need “to do” (fromInitiative #5). Such as:• Target key customer group(s)• Improve high impact programs / services• Create new programs / services / partnerships• Then, focus on 3 actions for each “thing.” Such as:• Implementation or improvement strategies• Action Items / Communications Plans

Your 3 + 3 Plan – “First things first…”Your 3 + 3 Plan – Prioritize Key Focus Areas!• Prioritize the three “focus areas” (Emotion, Results,Financial Benefit / Impact) – by Audience Group.• Your Board / Your Association / Your Company• Your Customers• Region / Community / Demographics / Strategic or VendorPartners• Other

Mental Billboard…Put Your Message Here

Target Audience: Prospective ConsumersTravelers Wanted:Stay and spend money at our property.We have WiFi, a pool, FREE A.M. coffee &doughnuts, and some local attractions tokeep you busy.Contact us for reservations (not information).

Target Audience: Prospective ConsumersTravelers Wanted:Stay and spend money at our property.We have WiFi, a pool and some localattractions to keep you busy.Contact us for reservations (not information).

Target Audience: Strategic PartnersAttn: Strategic PartnersFact: Our costs are going up.Fact: We need to reduce our expenses.Solution: We want you to be a strategic partner.Customer’s Mindset: How much & is it worth it?

Target Audience: Strategic PartnersAttn: Strategic PartnersFact: Our costs are going up.Fact: We need to reduce our expenses.Solution: We want you to be a strategic partner.Customer’s Mindset: How much & is it worth it?

Target Audience: Groups2013 Rate Increase:Effective March 15, 2013, our group rates willincrease to $$. Also, a new 5% fee will be added toyour invoice for late payments.Be sure to send us your payment on or before thedue date. We will see you soon!

Target Audience: Groups2013 Rate Increase:Effective March 15, 2013, our group rates willincrease to $$. Also, a new $50 fee will be added toyour bill for late payments.Be sure to send us your payment on or before thedue date. We will see you soon!

Maximization & ManageabilityYour “3 + 3 Plan”• Identify 3 services, amenities, programs, areas ofsupport or service you can “communicate” to otherswith a focus on:• Emotion• Impact / Results• Financial Benefits• Identify 3 key initiatives or goals you can use to“deliver” this message to your target audience(s).

Your Guest Programs / Services: “TargetAudience Focus” – Prioritized 1 to 3Target AudienceEmotionalImpactTangibleResults/Impact$$ BenefitLoyal businessclasscustomerFrequent consumercustomerTransient /Regional grouptravelerFirst-time guest

Your Guest Programs / Services: “TargetAudience Focus” – Prioritized 1 to 3ExamplesTarget AudienceLoyal businessclasscustomerEmotionalImpactTangibleResults/Impact$$ BenefitFrequent consumercustomerTransient /Regional groupcustomerFirst-time guest

Your Guest Programs / Services: “TargetAudience Focus” – Prioritized 1 to 3ExamplesTarget AudienceLoyal businessclasscustomerEmotionalImpact3TangibleResults/Impact1$$ Benefit2Frequent consumercustomerTransient /Regional groupcustomerFirst-time guest123

Your “Communications Impact Matrix”Focus on Each Target Audience’s Two Highest PrioritiesTarget Audience Emotion Impact $$ Benefit OtherLoyal businessclasscustomerHighHighFrequent consumercustomerHighHighTransient / Regionalgroup customerHighHighFirst-time customer High High

Your Guest Programs / Services:Top 3 Goals / Initiatives & Focus AreasGoals /InitiativesEmotionalImpactTangibleResults/Impact$$ BenefitGoal #1:(Audience):Goal #2:(Audience):Goal #3:(Audience):

Your Guest Programs / Services: Identify TopGoals / Initiatives & Focus AreasCircle Your “Top 3.” These are your focus areas.Goals /InitiativesEmotionalImpactTangibleResults/Impact$$ BenefitGoal #1:(Audience):1.2.3.4.5.6.1.2.3.4.5.6.1.2.3.4.5.6.Goal #2:(Audience):1.2.3.4.5.6.1.2.3.4.5.6.1.2.3.4.5.6.Goal #3:(Audience):1.2.3.4.5.6.1.2.3.4.5.6.1.2.3.4.5.6.

Your Guest Programs / Services: Top 3 Goals /Initiatives & Strategies (Goal #1)Goal / Initiative #1:Goal /Initiative #1EmotionalImpactTangibleResults/Impact$$ BenefitStrategy #1:(Audience):Strategy #2:(Audience):Strategy #3:(Audience):

Putting it All Together…

YOUR “Doable” Business Plan• Three Phases of an Effective Business Plan6. Update Website7. Your 3+3 PlanActionAssessmentBusinessPlan CyclePlanning1. Assess Business2. Identify Value3. SWOT Analysis4. Identify Top Goals5. Identify Areas ofOpportunity

Thank you!It’s a honor to be with you today.