Presentation on theme: "Chart Your Course to Business Success"— Presentation transcript:
1Chart Your Course to Business Success March 13, 2012Chart Your Course to Business SuccessAdvisors On TargetOn Target Business Intensive: Session 10
2Implementation Steps Session 1 Session 2 Session 3 Create a working draft of your Mission StatementCreate a working draft of your 1 and 5 year VisionAnswer the 10 questions on the handoutSession 2Review your own financial statements and chart of accounts with what you learned in Session 2Session 3Create a budget for 2012If you already have a budget, review and revise as neededUse the cashflow projection model (at the bottom of the budget tool)2
3Implementation Steps (cont.) Session 4Determine your breakeven point for your 2012 budgetAnnualFor the month of February 2012Define your target markets (Fill in Marketing Plan – Part 1)Do a competition analysis (Fill in Marketing Plan – Part 2)Session 5Define Marketing Strategies (Fill in Marketing Plan – Part 3)Create a Marketing Budget using the templateSession 6Start Job Costing every job if you aren’t alreadyImplement a system to track job profitability over time to measure progressCoach foremen to improve3
4Implementation Steps (cont.) Session 7Review Job Process Outline and Job Process ChecklistCustomize Checklist for your companyStart to implement a more organized approach to your job process – add structure a piece at a timeSession 8Schedule a recurring company meetingCreate an agendaHold your first meetingSession 9Review PCSI MaterialPractice awareness and using your communication styleTry using coaching conversations using the 5 step modelStart Job Costing every job if you aren’t alreadyImplement a system to track job profitability over time to measure progressCoach foremen to improve4
6Agenda for today Finish Coaching Conversations Topic Recap last week – Questions about communication styles and coaching conversationsBringing it all back to your planSpecific Q & A Requests?
7Coaching Conversation Model® URENTALIYOGEstablishFocusStep 1Step 2Plan theActionStep 3RemoveBarriersStep 4RecapStep 5DiscoverPossibilitiesCoaching Through the GapCoaching SkillsContextual Listening®Discovery Questioning®MessagingAcknowledging & CelebratingThe Coaching Conversation Model® is a registered copyright of CoachWorksInternational, Dallas, TX USA and is used by CCUI with permission.
8The Coaching Conversation Establish FocusDiscover PossibilitiesPlan the ActionRemove BarriersRecapS7 (2-2)
9Step 1 - Establish Focus For the meeting For the task For the gap
10Step 2 – Discover Possibilities Ask powerful questionsQuiet your mindListen non-judgmentallyParaphraseDraw out consequencesShare personal experiencesS9 (2-4)
11Step 3 – Plan the Action Guide development of an action plan Focus on the desired outcomeDivide into “byte size” chunksSet target dates for completionDefine parameters to guide actionsIdentify role overlapDiscuss how this project fits within the organizationS10 (2-5)
12Step 4 – Remove Barriers Ask questions to explore resource needs Clarify actions needed to clear barriersSupport by ensuring cooperationS11 (2-6)
13Step 5 - Recap Ask the individual to review the meeting Gain commitment to take actionRe-emphasize your support and what you will doEstablish accountabilityS12 (2-7)
14Live Coaching Practice 2 Rounds (7 minutes each) Timing Scenario A coaches BB coaches ATiming5 minutes coaching session2 minutes feedback (coach then coachee)Scenario1 person plays business owner, 1 plays foreman/team leaderForeman is not adequately leading/monitoring the job & his team’s performanceS32 (3-18)
15The power of an idea is only in its implementation…
16What we have talked about Week 1 - Vision, Mission, Big Picture StrategyWeek 2 – Effective Financial ManagementWeek 3 – Creating a Budget/Profit Plan for 2012Week 4 – Marketing StrategyWeek 5 – Marketing TacticsWeek 6 – Job Profitability and ProductionWeek 7 – Client Process SystemWeek 8 – Company MeetingsWeek 9 – Leadership, Delegation & CultureWeek 10 – Business Planning/Strategy
17Company ValuesProvide guidelines on how to proceed as one pursues organizational purpose.Answer the questions “What do I want to live by?” and “How?”Describe behaviors that demonstrate that the value is being lived.Review company or organizational values.(5 min.)Presented by Tony Ande, MBA, CPA
18What is our Mission? What is our reason for being? What are our guiding principles?
19Mission StatementA clear statement of your company’s long-term mission. Try to use words that will help direct the growth of your company, but be as concise as possible.
20What is your Business Model? A business model describes the rationale of how an organization creates, delivers and captures valueWhat is your reason for existence?What do you bring to the marketplace?What is the structure of your operations?How are you rewarded for what you do?
21What business am I in? What do I do? What do I bring to the market? Value Proposition: The bundle of products and services that create value for a specific customer segmentWho are my target markets?Customer Segments: The different groups of people or organizations your business aims to reach and serve
22Core Competencies What factors will make the company succeed? What are your major competitive strengths?
23Where do I want to go? What is my Vision for the company? Long term Short term
24How do we get there from here? What is your current situation - where are you now?How do you see the business some time in the future - where do you want to get to?What are your strategies for how you are going to get there?What are your specific goals to be reached by particular dates so you can track your progress as you go?
25Goals One year goals Five-year goals State specific measurable objectivesState market share objectivesState revenue/profitability objectivesWhat are your plans for the future of the business?Growth? If so, at what rate and how will you achieve it?
26Strategies How are you going to go about achieving your goals? What are the actions steps to carry out your strategies?What are your time frames for these?
27SWOT analysis SWOT ANALYSIS Internal Assessment Of The Organization External Assessment Of The EnvironmentInternal Assessment Of The OrganizationSWOTANALYSISStrengthsThreatsWeaknessesOpportunities
31ReviewReview the tools and ideas you’ve gotten from this 10 week IntensiveReview your Values, Mission and VisionReview your 1 year goal and 3-5 year goalsReview where you are now (SWOT)
32PlanBrainstorm strategies to bridge the gap between where you are now and where you want to beWrite out the strategies you plan to useCreate an Org chart for your company for year 1 and year 5Create your Budget/Profit Plan for 2012 to achieve your year 1 goalWrite out your Marketing Plan including your Customer Communications Plan for 2012Create your Marketing Budget by MonthDecide what other tools and ideas from the 10 Week Intensive will fit into your strategies
33DoWrite out an action plan for next steps to achieve your strategies based on your activities in the planning phaseDecide who will carry out each actionAssign a due date to each action
34What do you need to succeed in this process? Set aside planning timePeriodic mini-retreatsWeekly calendared planning (1 hour)Look for ways to delegateEmployeesSpouse/Business PartnerOutsourceUse organizational toolsCalendarSmart Phone
35On the road to becoming an ON TARGET Contractor…
36What is an On Target Contractor? Works ON the businessA Leader with a visioNKnown for InTegrityAccountable to self and companyApplies best business pRacticesGrowing personally and professionallyCommitted to ExcellenceHas an extensive neTwork
37Leadership Has a clear vision, purpose and values for self & company Articulates these effectively to team so that team “buys in” to the leader’s vision, purpose and valuesHas and is implementing an annual strategic planHas and is implementing a 3-5 year business planDelegates effectively!Team members are developing along a career pathOwner can take time away from the business without negative results
38Finance Accounting system is fully & accurately functioning Controls are in place to ensure accuracyOn Target Financial Monitoring is up to date and being used effectively as a business toolKey Metrics are up to date and being used to keep your finger on the financial pulse of your businessOwner reviews Financial Data and Metrics at least monthly and takes action where indicatedAn adequate credit line is in placeThe business has a good accountant and banker who understand and effectively support the business goalsCompany is profitable, solvent and able to finance its growth and reward stakeholders
39Administration Has functioning operating systems HR Systems – hiring & recruiting procedures, job descriptions, performance management system, employee manualPolicies/Procedures for all key activitiesTechnology/software are in place and being used effectively including effective network and backup systemsHas an effective customer process flow with all employees “buying in” and implementingHas an Employee Training programOffers employee benefits & growth path to encourage long term employment for good employeesHas a Performance Review process in placeHas an office/shop that is suitable for current & planned growthHas appropriate support personnel to manage present & upcoming growth
40Marketing & Sales Has a Marketing Plan with the following components Marketing Strategy – with target markets, and strategy for eachMarketing Budget - with breakdown for each strategyMarketing Timeline – when each strategy is to be launched or otherwise acted uponMeasures the ROI on each Marketing strategyHas an effective system to stay in contact with customers and potential customersEvaluates periodically, the target markets, niches and marketing strategies to ensure that they are still in line with current growth plans, market changes, and new initiativesInvests in Education & Training for sales team (including mentoring by owners or other sales team)Measures the effectiveness of sales team
41Innovation Growing personally and professionally Looking for better ways achieve your business goals and to serve your target marketsNew productsNew servicesNew methods of service deliveryNew marketing opportunitiesNew ways to deliver your marketing messageNew ways that technology can serve your businessNew trends that serve your marketNew ways to differentiate your company
42Rewards of being “On Target” Become more profitableBe able to reward shareholders and key employeesAchieve your business goalsMake timely changes to your strategyImprove quality of life both personally and professionallyDevelop a great support group and good friends with whom to celebrate your progress
43Implementation StepsSet appointment for consultation if you haven’t alreadyCall Linnea Blair at orSign up for my newsletter at advisorsontarget.comSign up to be a free member of advsiorsontarget.comClick on Member PortalThen Click on Free ResourcesRegisterFollow me on Social Media