Strategic Planning for Small Businesses

Strategic Planning for Small Businesses

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  Setting Our SightsFor Success in 2016 Joe Hines 714-872-0561
• 2.
  Assessing the Situation
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  Situational Questions Which ofmy marketing and selling activities brought the most business for me last year? What mistakes did I make that I should avoid this year? What worked well, but I can improve on this year? What can I learn from my successful campaigns last year? How have my competitors changed in the last year?
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  Top Line Performance •Annual Sales • Sales per month/ quarter/ year • Profitability per month/ quarter/ year Performance By Account • Number of Customers or Clients • Sales per Client – This Year Vs. Last year • Profit per Client Performance By Product or Service • Sales per Product or Service • Profit per Product or Service Performance Related Questions
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  Website Performance • Uniquesite visitors • Monthly unique visitor growth rate • Total email subscribers • Monthly email subscriber growth rate • Unique visitor to email subscriber conversion rate
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  Active Users
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  New Vs Returning
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  Pages
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  Why Commit toPlanning? • Provides a plan for selling new services and products. • Establishes priorities. • Makes sure that all marketing efforts remain on track. • You can't manage what you can't measure.
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  The Planning Process MarketingObjectives Marketing Strategies Marketing Tactics
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  How To GenerateStrategy • S.W.O.T. Analysis • Strengths, Weaknesses, Opportunities, Threats Strengths Weaknesses Opportunities Threats Internal/ Company Specific External/ In Your Business Environment People Products Unique Processes Trademarks Financial Condition Brand Equity Customer Relationships Etc. New Technologies Market Conditions New Customers New Legislation Competitive Market Exit Economic Changes Demographic Changes Etc. Financial Situation Market Awareness Functional Areas Market Reputation Knowledge Base Cost Structure Sales Approach Etc. Competitive Advances Customer Changes Changes in Demographics Changes in Customer Preferences Access to Key Commodities Changes in Legislation Etc.
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  How To GenerateStrategy Strengths Weaknesses Opportunities Threats Internal/ Company Specific External/ In Your Business Environment Leverage Your Strengths To Capitalize on Opportunities Select Specific Opportunities To Drive Growth Given Core Strengths Invest in personal and business Improvements To Defend yourself from competitive attack. Be constantly on guard. Competitive research Customers Network Media Offense Defense
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  Threats/ Opportunities: Questionsto Answer What are the important trends in the marketplace? What are the significant competitive trends? How do your current products compare to the competition? How do your current products compare vs what your customers need? How are your customers changing over time? If you project out several years, will they still need what you have today or are they changing faster than you are?
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  Consumer Changes
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  Manufacturer Responses
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  A Marketing Plan •Objective 1 • Strategy 1 • Tactic 1 • Tactic 2 • Tactic 3 • Strategy 2 • Tactic 1 • Tactic 2 • Tactic 3 • Objective 2 • Strategy 1 • Tactic 1 • Tactic 2 • Tactic 3 • Strategy 2 • Tactic 1 • Tactic 2 • Tactic 3 • Objective 3 • Strategy 1 • Tactic 1 • Tactic 2 • Tactic 3 • Strategy 2 • Tactic 1 • Tactic 2 • Tactic 3
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  What To IncludeIn Your Plan? • Major initiatives regarding: • Changes to your product and/ or service offering • Changes to your pricing strategy • Sales Strategy • New markets you want to enter • Markets you want to exit • Customer plans • New customers you want to sell • Existing customers you want to grow with
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  What To IncludeIn Your Plan? • Promotion Activity • Mission • Vision • Values • Blogging • Newsletters • Social Media • Video • Do you have a branding strategy? Do your customers understand it? • Networking • Content Marketing
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  Goal Setting S.M.A.R.T. Goals •Specific • Measurable • Achievable • Relevant • Time Bound • Start Putting Your Plans on the Calendar • Plan Backwards • Share the Plan • Go Forth and Tweak
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  Promotion As SalesFunnel Blog Social Media Newsletter Website Networking Chambers Professional Networks Meet-Up Volunteer LinkedIn Facebook Twitter Instagram thrivebusinessdirectory.com Thrive Monthly Newsletter Guest Speaking Leads
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  Examples • http://www.thrivebusinessdirectory.com/ • https://www.facebook.com/A-Cubed-Marketing-Services-1388247084721749/ •https://ui.constantcontact.com/rnavmap/emcf/email/view?flow=view&camefrom=view&agent.uid=112259 1219327