STRATEGIC PLANNING. STRATEGIC PLANNING DEFINITIONS (1) PLANNING PROCESS (2) STRATEGIC.
8( a ) Business Development Training: Strategic Planning
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Transcript of 8( a ) Business Development Training: Strategic Planning
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
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8(a) BUSINESS DEVELOPMENT TRAINING: STRATEGIC PLANNING
THE SMALL BUSINESS ADMINISTRATION’S OFFICE OF NATIVE AMERICAN AFFAIRS
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
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OUR MISSION
ONAA Mission: The Office of Native American Affairs (ONAA) mission is to ensure that American Indians, Native Alaskans and Native Hawaiians seeking to create, develop and expand small businesses have full access to the necessary business development and expansion tools available through the Agency's entrepreneurial development, lending and procurement programs. www.sba.gov/naa
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
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OUR MISSION CNTS Mission: The mission of Cherokee Nation Technology
Solutions (CNTS) under this contract is to provide training services to Tribal Corporations, Alaska Native Corporations, and Native Hawaiian organizations in the developmental and transitional stage of the 8(a) Business Development Program. CNTS is a Native American operated technical assistance firm that helps transform and build strong tribal nations, enterprises and organizations.
Through CNTS’s experience, we will provide advice, resources, and practical tools to help your
organization meet the challenges facing tribal communities today.
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
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SBA 8(A) PROGRAM MISSION
Provide a logical, systematic approach to Federal market access and enterprise growth to 8(a) businesses
Assists firms by facilitating the award of sole-source and limited-competition contracts
“Participation by Native Businesses in the 8(a) program has helped Native communities develop their own business tools and become active participants in the U.S. economy – across all states.”
- Native 8(a) Works
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
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SESSION OVERVIEW
Purpose: To assist entity-owned businesses in Native American communities throughout the United States to understand federal government contracting programs and plan to seek opportunities that will lead to contract awards.
Focus: Understanding of how the planning provides a roadmap to success for selling to the government through the 8(a) program.
Objective: Have a general understanding of federal contracting, markets and how to strategically pursue 8(a) and non-8(a) contracting opportunities.
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
AGENDA
Strategic Plan purpose, and where it fits in your business processes
Steps in the strategic planning process
Benefits associated with strategic plan
Tips for better strategic planning
Strategic planning pitfalls
Strategic plan versus the business plan or long-range planning
Setting and mapping goals
Wrap up
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
DO THESE DESCRIBE YOU?
We don’t know where to begin. If you don’t know where to begin, you don’t know how to get started. Strategic planning helps define your objectives and criteria for success and provides a roadmap for actions and activities.
We bid on anything. If you are bidding anything, it’s because there is nothing telling you not to. Without specific criteria that are used like a filter, companies are usually incentivized to bid everything they find.
We’ve used up resources chasing leads. If you don’t strategically apply a filter to what you bid, then it’s easy to wake up and realize you have no budget left to pursue more leads, because you wasted it all chasing low-hanging fruit. Now you have no wins, and no budget to go after better leads.
We occasionally get lucky. Sometimes an opportunistic company shows up when a customer is ready for a change and gets lucky. They win just enough business to get by and reinforce their bad habits. But they don’t prosper and they don’t have the strength to weather a bad business cycle.
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
WHY DO I NEED TO DEVELOP A STRATEGIC PLAN?
The Small Business Act, 15 U.S.C. Sec. 644(a) requires that a fair proportion of Government contracts in each industry category be placed with small business concerns.
Government policy provides ‘maximum practicable’ opportunities to small firms as prime and sub contractors
There is more than $700B available to federal contractors.
The result?
More opportunity than you know what to do with!
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
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WHY DO I NEED TO DEVELOP A STRATEGIC PLAN?
Non-8(a) Business Activity/Competitive Business Mix Targets in the out-years of the program can be met and maintained through proper strategic planningParticipant's Year in
the Transitional StageNon-8(a) business activity targets
1 (Program year 5) 15%
2 (Program year 6) 25%
3 (Program year 7) 35%
4 (Program year 8) 45%
5 (Program year 9) 55%
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
STRATEGIC PLANNING GETS RESULTS!Ficticious Construction Company, LLC NAICS Code: 238140 Masony Contractors Size Standard $15M8(a) Awarded 3/15/11 8(a) Graduation 3/15/20
Contract Type Award Date End Date Avg. Annual Revenue 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 20218(a) 1/1/2012 12/31/2017 $500,000.00 $500,000.00 $500,000.00 $500,000.00 $500,000.00 $500,000.00 $500,000.008(a) 8/6/2014 8/7/2018 $2,500,000.00 $2,500,000.00 $2,500,000.00 $2,500,000.00 $2,500,000.00 $2,500,000.008(a) Target 6/5/2015 6/1/2020 $4,000,000.00 $4,000,000.00 $4,000,000.00 $4,000,000.00 $4,000,000.00 $4,000,000.00 $4,000,000.008(a) Target 4/8/2019 4/6/2022 $3,700,000.00 $3,700,000.00 $3,700,000.00 $3,700,000.00
TOTALS $500,000.00 $500,000.00 $3,000,000.00 $7,000,000.00 $7,000,000.00 $7,000,000.00 $6,500,000.00 $7,700,000.00 $7,700,000.00 $3,700,000.00
Contract Type Award Date End Date Avg. Annual Revenue 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021non 8a 3/7/2008 3/6/2012 $89,000.00 $89,000.00 $89,000.00non 8a 1/1/2009 12/31/2013 $1,200,000.00 $1,200,000.00 $1,200,000.00 $1,200,000.00non 8a 2/14/2010 2/13/2015 $650,000.00 $650,000.00 $650,000.00 $650,000.00 $650,000.00non 8a 10/1/2013 9/30/2016 $75,000.00 $75,000.00 $75,000.00 $75,000.00 $75,000.00non 8a Target 9/30/2014 9/29/2019 $1,200,000.00 $1,200,000.00 $1,200,000.00 $1,200,000.00 $1,200,000.00 $1,200,000.00 $1,200,000.00non 8a Target 6/7/2017 6/6/2021 $2,500,000.00 $2,500,000.00 $2,500,000.00 $2,500,000.00 $2,500,000.00 $2,500,000.00non 8a Target 8/31/2018 8/30/2022 $5,000,000.00 $5,000,000.00 $5,000,000.00 $5,000,000.00 $5,000,000.00
TOTALS $1,289,000.00 $1,939,000.00 $1,925,000.00 $1,925,000.00 $1,925,000.00 $1,275,000.00 $3,700,000.00 $8,700,000.00 $8,700,000.00 $7,500,000.00 $7,500,000.00
$1,289,000.00 $2,439,000.00 $2,425,000.00 $4,925,000.00 $8,925,000.00 $8,275,000.00 $10,700,000.00 $15,200,000.00 $16,400,000.00 $15,200,000.00 $11,200,000.00$0.00 $500,000.00 $500,000.00 $3,000,000.00 $7,000,000.00 $7,000,000.00 $7,000,000.00 $6,500,000.00 $7,700,000.00 $7,700,000.00 $3,700,000.00
$1,289,000.00 $1,939,000.00 $1,925,000.00 $1,925,000.00 $1,925,000.00 $1,275,000.00 $3,700,000.00 $8,700,000.00 $8,700,000.00 $7,500,000.00 $7,500,000.00
0.00% 20.50% 20.62% 60.91% 78.43% 84.59% 65.42% 42.76% 46.95% 50.66% 33.04%100.00% 79.50% 79.38% 39.09% 21.57% 15.41% 34.58% 57.24% 53.05% 49.34% 66.96%
15% 25% 35% 45% 55%
Size Standard $1,289,000.00 $1,864,000.00 $2,051,000.00 $3,263,000.00 $5,425,000.00 $7,375,000.00 $9,300,000.00 $11,391,666.67 $14,100,000.00 $15,600,000.00 $14,266,666.67
Graduate
TOTAL 8(a) revenue
Non 8(a) revenue
8(a) % of RevenueNon 8(a) % of Revenue
NON 8(a) Target per SBA
Development Phase Transition Phase
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
OBJECTIVES
Be able to explain the strategic planning process steps and the advantages of strategic planning to the small business owner
Be able to understand where strategic planning fits in the business process cycle
To understand the importance of strategic planning
Comprehend strategic planning benefits and pitfalls
Understand the difference between strategic planning and business planning, and long-range planning
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
WHY A STRATEGIC PLAN?
Your Vision Why my company exists; it’s purpose
Define your Purpose
Define your Mission
Define Core Values
Identify three to five strategies that are borne out of your greatest strengths, all highly focused on achieving your Mission.
“Strategy Planning Methodology” breaks down your current Mission into the annual and quarterly priorities you need to complete in order to achieve your Mission
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
WHERE STRATEGIC PLANNING FITS
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Source: willswann.com
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
PLANNING STEPS
Identify core values and culture.
Craft vision and/or mission statements.
S.W.O.T.
Evaluate internal and external influences.
Design Initiatives and Goals to achieve improvement and desired results.
Engage and deputize all involved.
Celebrate and revise14
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
BENEFITS
Clearly defines the purpose of an organization or individual.
Establishes realistic goals and objectives.
Communicates to all affected.
Gains buy-in and ownership.
Blueprints the use of resources.
Creates measurement and evaluation.
Focuses efforts and results.15
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
STRATEGIC PLANNING FRAMEWORK
Where are we now? Review your current strategic position and clarify your
mission, vision, and values.
Where are we going? Establish your competitive advantage and your vision.
Clearly see the direction your organization is headed.
How will we get there? Lay out the road to connect where you are now to where
you’re going. Set your strategic objectives, goals, and action items and how you’ll execute your plan.
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
THE FRAMEWORK
Strategic planning involves vision, mission and outside-of-the-box thinking
Strategic planning involves "feel" just as much as it depends on management science
Since it depends on creativity and outside-the-box thinking, there is no perfect way to design a winning strategic plan
The more you understand your company, your industry, and your corporate "wish list," the better a winning strategic plan you'll create.
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
TIPS FOR BETTER STRATEGIC PLANNING
Pull together a diverse, yet appropriate group of people to make up your planning team.
Allow time for big-picture, strategic thinkingGet full commitment from key people in your
organizationAllow for open and free discussion regardless of each
person’s position within the organizationThink about execution before you startUse a facilitator, if your budget allows
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
TIPS FOR BETTER STRATEGIC PLANNING (CONT.)
A SWOT -- strengths, weaknesses, opportunities, and threats -- analysis is a wonderful way to prepare for developing a strategic plan
Make your plan actionable
Don’t write your plan in stone
Clearly articulate next steps after every session
Make strategy a habit, not just a retreat
Check out examples online19
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
STRATEGIC PLANNING PITFALLS
Relying on bad info or no info
Ignoring what your planning process reveals
Being unrealistic about your ability to plan
Planning for planning’s sake
Not having your house in order first
Copying and pasting
Ignoring your culture and organizational readiness
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
STRATEGIC ISSUES
Typical strategic issues include answers to the following questions: How will we grow, stabilize, or retrench in order to sustain our
organization into the future?
How will we diversify our revenue to reduce our dependence on a major customer?
What must we do to improve our cost structure and stay competitive?
What is our new value proposition given that our customers are buying substitute products and we have new competitors?
How and where must we innovate our products and services?
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
WHY IS A STRATEGIC PLAN IMPORTANT?
There is a clear vision and direction
Helps build your competitive advantage
Communicates your strategy to staff - Everyone understands the direction and is “on the same page.”
Prioritizes your financial needs
Provides focus and direction to move from plan to action
Hardest part - start the process and follow-through
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
STRATEGIC PLAN VERSUSBUSINESS PLAN
A business plan Is a planning tool
Helps define the purpose of your business
Helps plan human resources and operational needs
Is critical if you’re seeking funding
Assesses business opportunities
Provides structure to ideas
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
STRATEGIC PLANNING VERSUS LONG-RANGE PLANNING
A matter of emphasisLong range planning:
A major assumption in long-range planning is that current knowledge about future conditions is sufficiently reliable to enable the development of these plans
Emphasis is on the articulation of internally focused plans to accomplish agreed-on goals
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
STRATEGIC PLANNING VERSUS LONG-RANGE PLANNING
Strategic Planning: A major assumption in strategic planning is that an
organization must be responsive to a dynamic, changing environment
Emphasis is on understanding how the environment is changing — and will change — and on developing organizational decisions that are responsive to these changes
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
GOAL SETTING
Use the S.M.A.R.T. goal setting strategy to determine if your goal is Specific, Measurable, Attainable, Realistic, and Time -Bound
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
MAP YOUR GOALS: STRATEGIC PLANNING MODEL
Where are you now?Example: I help friends plan parties but
I want to formalize my services for extra income.
What is your S.M.A.R.T Goal?Example: I will launch the business and
have 2 events lined up by June.
How will you get where you want to be? What is your strategy?
Example: I will launch a part-time home-based event planning service.
What steps must you take?
Example: Action1: Refine offerings and
consolidate contacts for other referrals.
What steps must you take?
Example: Action 2:Create a compelling
value proposition.
What steps must you take?
Example: Action 3: Collect testimonials and
references from past clients.
What steps must you take?
Example: Action 4: Create marketing
materials and communicate my services via my
personal network.
Source: STRATEGIC PLANNING FOR SMALL BUSINESS, empowerment group
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
THE ONE-PAGE PLAN2014 Strategic Plan
Purpose: To be recognized as the absolute best pressure regulation supplier to the process control industry
2014 Focus = GROWING SALES REVENUES
KEY OBJECTIVES
Market Development Process Improvement People Development Product Development
INITIATIVES
• Expand regulator market reach
• Increase customer visits by engineers
• Review distribution strategy
• Implement lean process
• Develop/implement supply chain strategy
• Implement personnel planning
• Improve communication
• Increase teamwork
• Increase quick-change regulator line
• Expand range of QPRO line
KEY PERFORMANCE INDICATORS
• Revenue/Distributor
• Revenue/Month
• Cash-to-Cash days• First-time through
%/month
• % Turnover/Month• % Absenteeism/
Month
• New Product Revenue/Month
28Source: Strategic Planning for Your Small Business in Eight Simple Steps, Gregg Stocker of The Praecedo Group
© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
WHEN TO CHANGE THE STRATEGIC PLAN
In mature markets, a strategic plan can be valid for a long time
In more dynamic markets, which is the case for many small businesses, a strategic plan's shelf life is usually a lot shorter
Several warning signs that potentially spell the need to change one's strategic plan Declining sales from a small business' core customers
A change in market position by competitors
Entry of new competitors
Evolution of the market
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
STRATEGIC THINKING VERSUSSTRATEGIC PLANNING
Counter-argument: Strategic Planning is appropriate for large businesses only
Small businesses: Don’t have the time or the resources to invest in days of planning
Can’t justify the expense in personnel and time away from normal and more productive duties
See it as only a small payoff
Require continual strategy adjustments; strategies are short-lived due to factors beyond their control.
Small businesses win because they are nimble, quick to seize unexpected opportunities than their larger competitors. Long term planning can slow them down…..
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
STRATEGIC MESSAGE
“If you don’t know where you are going, that’s probably where you’ll wind up, no
where.”
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
LINKS
http://mystrategicplan.com/examples/
GSA Vendor Support Center- www.vsc.gsa.gov
Small Business Administration (SBA) http://sba.gov
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© Copyright 2013-14. Stover & Associates, Inc. All Rights Reserved. Used with permission This activity is funded by the U. S. Small Business Administration (SBA) under contract number SBAHQ-13-C-0021.
SBA’s funding is not an endorsement of the contractor or any products, opinions or services. All SBA programs are extended to the public on a non-discriminatory basis.Reasonable arrangement for persons with disabilities will be made if requested at least two weeks in advance.
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