Creating A Strategic Growth Plan Creating A Strategic Growth Plan As Featured in “My Business Plan Book: New Venture Starter Kit” 1

Where Are You Now? Changes in the Marketplace Trends in the Industry Economic Downturn Financial Limitations Technological Advances All impact the way we make business decisions; ultimately affecting the way we do business and the level of business operation To reach a higher levels you have to know what to do and when to do it 2

Is This Where You Want to Be? Through your vision - you serve as the pilot driving your business. Would you travel to an unknown and unseen location without a map (now-a-days a GPS) ? When your vision is blurred your plans to conduct business are cloudy, off course and not well defined As a result you lead the company as though you are lost and confused. Your marketing is out of focus This is where your Business Plan comes into the picture. Your plan is your guide. Your plan begins with your vision for a prosperous future. “Begin With The End in Mind” a quote from…Steven Covey. If where you are right now is not where you want to be, a Growth Plan + Strategy, the (GPS) is what you need. 3

The Marketing Mix Match How many times have you recognized business people, friends and associates, that you’re unable to tell what business they’re in. You couldn’t refer anyone, or better yet, even do business with them because you are just not sure. Not sure of their merchandise line Not sure if they would do a good job for you Not sure if they were still in business They have no policies, no image, inconsistent quality, uncommitted leadership. The list goes on and on … All you know is what you see… and still, you are just not sure. I can tell you about many small businesses like that. One is on page 54 in “MY Business Plan Book: New Venture Starter Kit”. It’s about a guy named Geo. 4

The Growth Plan Strategy What if - you knew where you were going and you could not get lost? The Growth Plan Strategy (GPS ) involves: Predictable Sales – ultimately leading to a constant sales flow, growth and profits Operational Consistency – on a daily basis – as the norm Maximum Efficiency – as reflected on financial statements and in your business activity Marketing Synergy – Advertising - promotes sales - which drives quality services and superior products - supported by timely deliveries, and competitive prices, etc. Reputation & Trust established as a result of positive perceptions of your business image - coming from satisfied customers, industry leaders, financial opinion leaders; people who have come to respect you and your brand. 5

Marketing is an Investment A Small Business Spends Marketing Dollars to Generate Results. Results are achieved in various forms: Impact – How will you know if goals were reached? Quantitative Returns - On marketing investments in the form of sales, and a continuum of loyalty purchases Good Will – For future sales (BBB concept), trust, reputation, etc. Qualitative Results – How is the marketing ROI translated. Is it in social media hits, brand awareness, or dollars & cents? What does it mean to gain market share, increase sales & achieve greater levels of profitability? 6

The Budget, The Plan & Growth Will your plans to Produce, Promote, Price and Distribute your goods be drastically diminished because you don’t have enough money? Your BUDGET is critical to the strategies outlined in your plan to: 1.Get More Customers 2.Build Your Brand 3.Achieve Customer Loyalty 4.Package, Promote and Distribute 5.Manage Relationships With Clients 7

How Do I Make This Year Better The first move is to step outside of your company; and outside of yourself as its CEO Look at your profit center(s ) and cost center(s ): If you are unable to diminish the need for the cost center, and increase the value driven from your profit center, then a marketing plan is needed. It will become your Most Valuable Tool (MVT) Ask Yourself: 1.“How can I reduce costs in areas like distribution, time spent on sales transactions, getting customers, space, production. etc.”? 2.“In what areas can I make changes that will enable me to generate more revenue”? 3.For example look at ways to repackage current products, create new uses for old products, upgrade services to accommodate loyal customers, and more. What can you do? 8

Strategic Marketing Plan 9

Forecasting 101 You should always “Be in the Know” about your industry, the marketplace, technology, and the consumers’ interests, as related to your products and services. Understanding these trends will help you forecast for growth. Ask your accountant. He or she should know. Which reminds me - Should you fire your accountant or give him or her a raise? You’ll get the answer to this question, and others on February 23 rd at the upcoming, one-day- workshop retreat. 10

Forecast Growth For Your 2 nd Quarter Forecasting 101 – 7 Basics you need to know: 1.Customers’ buying patterns 2.Media updates - Economy updates 3.Response rates to your advertising, promotion, and PR 4.Situations in the marketplace that affect your business 5.Industry growth patterns, including any drastic changes (present or future) that can create pitfalls 6.Reasons why customers buy 7.What the competition is up to 11

Marketing Strategy – The Heart of the Marketing Plan Marketing Strategy – The Heart of the Marketing Plan Available at: AJ Management Amazon Barnes & Noble The Empowerment Bookstore, Jamaica, NY 12