In phase one we get to know everything about you and your business – where you are now and where you want to be in the future.
What do you want out of this? We need to formulate your personal objectives which will act as the catalyst to plan your business development strategy.
We take a look at the key numbers and where the gaps are and then review the previous twelve months and the fundamental trends.
The business health check will identify areas of the business that are OK, will need reviewing fairly soon or will need immediate attention.
The business analysis will provide a framework we can use in phase two to assess our short and long term goals and targets and produce our business improvement plans.
In phase two we create a vision statement and the business values which are our moral compass and expected behaviour. We then agree goals and targets from the information produced in our discovery sessions.
This is where we put in place our business foundations after reviewing the modules from phase one. There are more than 20 of these and usually for each business a different combination.
We are now able to produce our business improvement plans (BIP’s) and key performance indicators (KPI’s), the first of our business foundations.
Another essential business foundation is the organisations ‘scorecard’ which is introduced usually with between 5 and 10 measures.
We then look at the marketing options currently being used and new options moving forward. There are over 70 different options to assess and agree. Usually trial 2 or 3 and review (phase four).
Phase three and we now need to understand exactly who are target markets are.
Then we drill down to find our ‘dream customer’ within these markets that we want to attract and move towards.
Before we contact these potential customers we need to look at all the of the marketing material being planned or in use and conduct a ‘scientific marketing makeover’ on each piece, this includes your website homepage and LinkedIn page(s).
For our ‘Category of One’ we need to find the important elements that truly separate your business from the competition. Differentiators and USP’s.
Ordinary, boring, forgettable messaging is responsible for the failure of many marketing campaigns. So we don’t fall into this trap, our messages are compelling and we communicate very regularly.
We introduce a sales and marketing tracker so we can monitor leads per week or month, conversion rates and costs per lead per marketing pillar.
Now we need to document the businesses processes and procedures particularly when monitoring performance and costs. This will also help with training.
Meetings (weekly and monthly) should be scheduled to review the performance of BIP’s and KPI’s and to close off completed plans and introduce new ones.
A documented review of all the organisations digital systems should take place to assess the current status. IT hardware & software, database, CRM, ERP, etc.
A company skills matrix should be produced to assess training needs for the business.
A customer centric organisation demands that the customer is the focal point of all decisions related to delivering products, services and experiences to create customer satisfaction, loyalty and advocacy.
Diversification by looking for new markets and sectors, offering new services by utilising new technology and skills.
Scaling up by reviewing and realigning 4 categories – People – attracting and keeping the right personnel, Strategy – creating a truly differentiating strategy, Execution – Relentlessly driving flawless execution, Cash – Having plenty of cash to weather the storms (Power of One Again).
Acquire businesses where you can gain new clients/customers and share overheads. This will open up other opportunities in sectors not currently served by you.
The 10 things every business owner should put in place as part of their exit strategy.
Build your ‘Business Toolbox’ to streamline the business handover.
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