Successful Leaders Plan Their Business

Business Planning

Business planning often gets a bad press.  Yet those who do sit down and plan their business are so much more focused, confident, and successful than those who float along with the economic tide. Successful leaders plan their business, so they can focus on leading their team to deliver their plan. Over the past ten years as a strategic planner we’ve worked with hundreds of business owners and seen how those that create a plan and implement it. Those that plan their business do so much better than those owners who try aimlessly lead their business on a wing, a prayer or a dream.  Successful leader’s plan their business, so that everyone knows where they are going what their role is in achieving that success. The way forward in business, clear vision and direction supported by a supportive culture and a clear business plan According the latest BERR report, Small and Medium-sized Enterprises (SME’s) together accounted for 99.9 per cent of all enterprises, 59.8 per cent of private sector employment and 49.0 per cent of private sector turnover. SME’s really do matter to the British economy, and yet they receive little effective support from Government agencies despite being the backbone of the economy, employment, and innovation.

Why Business Leader’s Don’t Plan

“If you don’t make things happen, things will happen to you” Lanes Company Having questioned business owners over the last decade the reasons why owners have not put a plan in place and then executed it, the excuses range from not having the skills, make the time, or have the conviction of their thoughts. Owners know they should have a plan ‘we had one when we first started, but have not looked at it since’ is a common theme. The other is being too busy fire fighting to realise that preventing fires starting, is the best way to not have to fight them. Do business owners not see the value in developing a plan for their business? On the other hand, is the classic perception for business owners that frenetically staying alive is seen as being successful? For many not knowing how to plan is one major reason why people haven’t and don’t plan their business.  Where to start, and how to know what they are trying to achieve immediately puts people of planning.
Faults in Business Planning
Business planning is also often at fault here.  The most common reason new start up businesses create a business plan is to secure funding from banks, that’s when banks did fund business start-ups (now they just offer a high interest mortgage backed by the Government). Therefore, once people have received funding they no longer see the main advantages of planning (and the real advantages are not around money).

Business planning by Richard Gourlay creates a clear path and direction for your business.

Business Planning Skills – Have some GOALS

“The discipline of writing something down is the first step toward making it happen.” – Lee Iacocca Planning takes time, resources, (grey stuff) not the executive trip to some exotic away weekend planning, but some time allocated to review where you are as a business, how your sector and industry are performing and what you want to achieve in the future. Whether it is looking at the next year or planning the next five years, everyone who owns or directs a business is responsible for setting its direction. However, just having a plan in your head, with the classic defence of ‘its flexible at the moment’ is either ducking the responsibility or deluding themselves. The only way to have a plan rather than a dream is to have it written down, turned (if it is not already) into an action plan which is resourced and owned by someone to deliver. Only then do businesses go forward in a deliberate purposeful way. Only then do the right things happen because you made them happen and only then can everyone, employees, shareholders, customers, channel partners and even other halves, see your dream, share your dream, deliver your dream. That’s when planning works. It is a written document, which lives within your company, and it doesn’t matter if you are a one-man (woman) band or running a multi-national Plc.

What Business Planning Delivers

A clear business plan is the result of a process. It starts with thinking, then writing it down. That commitment itself is a sense-check, it creates a reality and makes the writer accountable for their thoughts. By writing down your business plan a leader takes a dream and begins to make it a reality. Others can see, critically evaluate, and judge the business idea and review the opportunity the plan intends to address. By doing this a business idea is viewed in the round, looking not only at the idea, but the actuality of what needs ot happen across all busienss area functions to turn the idea into reality.
“In the absence of clearly-defined goals, we become strangely loyal to performing daily trivia until ultimately we become enslaved by it.” – Robert Heinlein
business planning, business plan, the elements of a business model Planning provides focus in strategic direction.  It provides clarity of where the business is and where it is going as well as a vehicle for getting from where you are to where you want to be. Planning time out of the business provides time to reflect on personal and corporate goals, time to share and channel new ideas while reviewing existing activities. Planning in a structured and open format develops clarity of purpose and a clear understanding of the organisational and individual skills people have and can use to leverage advantage. Bringing in outside views widens the planning horizon, a fresh perspective to drive businesses forward. This is why many successful businesses use non-executive directors or outside specialists to help drive their business forward. That is one reason why so many people volunteer to get support from people like the Dragons from Dragon’s Den, they are looking for expertise and advice which gives them confidence to go forward as much as the money.
Plan More For Success
British business owners need to plan more often to keep being successful. Good planning creates and sees opportunities as owners and directors lift their heads up from the daily grindstone. How often should you plan? Well it all depends on the speed of your market’s evolution, but even stable and stagnant businesses should review their business every year, and not just a light dusting (add ten percent and change the year) but strategically review what and how well they are doing. It is only by looking for fresh opportunities and how to take best advantage of them, by planning your business around those opportunities, that companies successfully compete in today’s business environment.

Business Planning is not a four letter word

“An organization’s ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage” Jack Welch

The old adage, compete or get beat, is more relevant today than it has ever been. The rise of the Internet means there are no secrets, competitive advantage lies with those who can see an opportunity and adapt fastest to take advantage of it. Those owners and directors who see and go for opportunities become the stronger ones.  That is where good strategic business planning provides it real advantage. That’s why successful leaders plan their business to achieve that success. By orientating a company to where it can retain better, win new and develop existing customers companies that plan their success out compete in their sector, and equally importantly have everyone focused on where they are going. From the smallest to the biggest every business needs to have a plan that is written down, owned and guiding your business in the direction you want it to go. Good Luck
Richard Gourlay
@richardgourlay www.cowdenconsulting.com

Do YOU have a Plan for Growth?

Do you have a plan for GROWTH? 

 
Leadership is most often identified as someone with a clear vision to grow their organisation. Having a plan for growth within your business is often seen as someone on a mission. With a clear vision of where you want to be within your market. By definition, that means looking for and focusing on growth.  All leaders must focus on looking for growth and development of their organisation if leadership is going to be seen as successful. But many leaders do not have a plan for growth within their organisation. So do you have a plan for growth?
 

Do you have a plan for growth? By Richard Gourlay leadership consultant.  Leaders need a plan for growth

Do you have a clear vision of where you are going to take your business?  From understanding the market and its direction to where your business needs to be within those sectors, to profit from the growth within the market.  Leaders need to be strategically aware of their market if they are to find and focus on growth within their organisation.
 
Leaders must also redesign their organisation so that it can take advantage of growth opportunities, redesigning how a business operates to increase turnover and / or profits is at the heart of ensuring a leadership team has plan for growth.  Revitalising the sales and marketing operations is at the heart of acquiring more clients and developing improved relationship structures with customers and channel partners.
 
With a plan for growth leadership teams can reduce the amount of down time and focus their efforts on driving your business forward, with a clear vision of where you are going and why.  Successful businesses develop strategic plans to move their business forward, to grow and succeed, while being in control.
 
The first role af any owner or director is to have a plan, from star-up onwards (not for the banks) but for you to own and deliver. That plan needs to be kept alive, fresh and driven to focus on success and succeeding.
 
 

GROWTH needs a Strategy

strategy is a researched approach by the leadership team, supported by a detailed plan of continual action steps to get the organisation to where you want it to be. The reason strategies are so vital is they keep things moving, and in business, if you are not going forward, you’re going backwards, and that can happen very fast.  So, if you want your business to be successful and/or pay you more, having a strategy that focuses on growth is a must!
 
If you have no formal strategy to take your business to the next level you need to refocus your priorities right now to create growth, here’s the first stage of a growth strategy framework:
 

Create a clear vision of what you want to achieve:

There’s an old saying that you can’t hit a target you can’t see. Well your vision is your target. Your vision needs to be very clear in terms of what you want from your business, by turnover, profit, customer type or all three? What’s your ideal position in that market, do you want to be known as the premier supplier of your product or service, or a low cost or niche player?
 
What about your personal goals to support your lifestyle?  You need to be very clear about what you want and what you don’t want. Have a clear focus that will keep you aligned with your long term goal for you and your business. Make your vision aspirational, where do you want your business to be within the net 3 to 5 years? What will it look like and what will the business feel like to be part of?
 

Looking for Growth

Starting with a clear vision for growth within a business is the simplest and most powerful way a leader can motivate everyone. Growth is about understanding the drivers of growth within your business sector.  Knowing where a market is going requires leaders to step out of the day-to-day operational detail and focusing on the drivers of your market.
 
Growth is fundamental to a successful company. Finding growth does not mean just looking for growth in turnover, growth in profitability is by far the most valuable growth any leader can find. Growth can also be found in winning new market entrants; cross selling penetration to existing customers; launching  innovative products and services or premium pricing of scarce products.  Other profitable ways to grow your business include driving demand of premium and unique products, where your business has or can create a competitive advantage.
 
Like to learn more about creating growth for your business, then get in touch with us through the links below.
 
Cowden provides Strategic Planning Workshops which enable owners to create their vision of what they want to achieve. Our SPW faciliated workshops provide the opportunity for owners to work on their business not in their business. To learn more about Strategic Planning Workshops (SPW’s) or contact us by clicking Cowden to discuss your needs, or go to our website www.cowdenconsulting.com to learn more about us.
 
Like to learn how to find growth for your business? Then why not buy the book on how to build your successful business strategy, with the step-by-step guide on how to build your own business strategy, click the book below to buy now.
 
Learn more click here to read more about Richard Gourlay 
 

Strategy The Leaders Role, by Richard Gourlay 

Like to learn how to build your own strategy: then get the book with step-by-step guild to build your own business strategy, click the link below.

Content Strategy: The future of marketing

The future of marketing is all about inbound marketing: Content strategy

If you can see a trend you have missed it!

In a world of continual change seeing what is happening is often difficult to understand until the paradigm shift has occurred. Many companies are struggling to stay ahead or even in the game of online marketing. Many companies are moving towards online marketing content strategy or as marketing people call it inbound marketing. This major shift in culture and one needs to be fully understood.

 

I have just had an old-fashioned marketing communication from a well-known brand, asking me to make an immediate purchase offering me a FREE upgrade for a new phone, my automatic response is not to be interested, at all because they have not demonstrated that they understand my specific needs. That made me thinks and write this article to explain why in today’s online world that old marketing technique is now as un-effective as a double glazing salesman offering me 50% off!

It’s a complete shift not just an add-on

In a world where everyone is online all the time, the amount of information is drowning people, from Linkedin to Facebook and Twitter the rise of smart phone connectivity has promised much change to marketing but until recently only early adopters, high value and niche players could see what it meant to the marketing process.

Like many changes, it is not until the change becomes tangible does its impact become visual to many marketing departments that enables them to successfully influence a company’s marketing policy. This is considerably harder to convey when there is no tangible evidence of marketing results attributable to hard to track invisible marketing shift. Unlike the shift to direct marketing where direct connectivity between outcome and result can be seen through a transparent return on investment, online inbound marketing is struggling to demonstrate its effectiveness.

Pace is outstripping understanding

Currently content marketing relies heavily upon invisible and poorly understood online activities. Simply put, the rate of change is outstripping the knowledge base of the marketing industry, creating a gap between the understandings of marketing by decision makers. The routes causes of this is that not only are customers sourcing information in newer ways but the platform they are using, the Internet indexing is also changing ever faster, Goggle will make over 600 changes to way it scores content. Rapidly changing customer preferences, coupled with changing technologies and an ever changing platform results in the lack of certainty of what is working and why. By the time you’ve worked out what works it has already changed.

That speed is creating problems for social media to be able to convert this rate of change to make money. This continual change, both step and continual upgrading, makes it difficult for the industry to understand how to build sustainable pipelines of business.

Content Strategy also creates confusion.   

Content strategy marketing process, one that now focuses on creating online and open platform engagement, online PULL; rather than internally controlled PUSH marketing methods, traditional marketers often struggle to understand the process let alone feel uncomfortable with the concept. This is not unreasonable, given the history of marketing in the last 50 years has always focused on the traditional pipeline of generating and then controlling customer decision-making, content marketing turns that on its head. People investing in inbound marketing are asked to spend money on losing control of the potential customer by letting them make an open decision about how and when they engage with your brand.

In the mid 1990’s I remember designing a website to support a brand. No one was interested until it was live and people could see something online. A director then said, “That’s great let’s print it off and send it to all our customers”     

Dialogue NOT monologue

The inbound marketing process is about generating an open dialogue, rather than a structured marketing process. It lets potentials, prospects and suspects move in and out of your control while they select you, rather than being controlled by you.

The Content Strategy Process

  1. Listening – Online is now the first port of call for 78% of web users.
  2. Creating – Great content that answers need and demonstrates expertise.
  3. Engaging – Is about being talked about and developing a dialogue with audiences
  4. Transforming – Is about continual engagement, moving them from suspects to purchasers
  5. Growing – Requires creating perpetual momentum developing new and developing loyalty

 

Source: www.tomorrow-people.com

Traditional marketing models of developing engagement such as AIDA are still highly valid but instead of just focusing on a immediate winning proposition through a grabbing hook, attach a liner and sink them in a simple linear model for winning customers. Content strategy marketing demands  multiple engagement tools which include cross referencing other parties creating competitive collaborative working to generate awareness, giving away FREE content in white papers coupled with fast and slow acquisition tools in decision making.

The strategy needs to be explained better 

Moving to a content strategy is about moving from PUSH to PULL, not about the Internet platform, it is about understanding the importance of open unrestricted dialogue rather than material generation and in reality it is not just about the Internet although this is where its impact is being seen today, but equally will encompass every marketing platform and process. The growth of mobile technology will further the pace and realisation of content strategy.

Like to learn more? Then see article What is Content Marketing or contact us at RichardGourlay.com or see our website or social media channels for more about Cowden::-

 

Richard Gourlay Website – Linked in – Twitter – Facebook – Blog

 

 

Richard Gourlay services: business planning, strategic planning, business development, strategic marketing, Return on Investment, director development, director mentoring.

Cowden is based in Galloway, Scotland and works with businesses throughout the UK.

Business Startups: How to Start your Business Successfully

Starting Up A Business: You Need a Business Plan 

 

Starting a business is an exciting and yet daunting time for everyone, from the seasoned veteran to the first time start-up. Starting up a new venture in any field is one of the most frightening steps anyone can take. Stepping out from the known and safety of being part of another community to stand alone with your idea sounds exciting and thrills people, but also creates a mountain of new and often insurmountable challenges. If you are starting up a business, you need a business plan.

The excitement of starting a new business can be quickly matched (and outshone) by the size of the daunting challenge you have set yourself.  Where do you start in turning your idea into a business?  For many it is talking it through with friends and family, seeing if it has legs, if it is a runner, trying to find the next step in turning the idea into a business.

 

Hidden Challenges Facing All Entrepreneurs

The next stage for many is to try to write down a plan of what they are trying to launch. This is where most people struggle, what to plan and how to plan what you are doing. How to turn your embryonic idea into a fully sized business is one of the hidden challenges facing every entrepreneur.

For many creating a business plan, is too big a challenge. Reframing it as a pointless exercise. Or more realistic something they know they need to do, but want to postpone having to do it until the last moment, or later. Quite often planning their business is something entrepreneurs want to or try to delegate to other people. They want to keep the model flexible, or often in their head, I am working on it are other phrases I come across.

 

Putting All the Pieces Together

Yet to take any idea from embryonic idea to a recognizable business model, requires an investment in planning all the details of your business. Not just focusing on the core product or service, the exciting concept, but functional aspects of how the business will operate, from where and how, what operations have to be undertaken and by whom.

Then a business needs to answer the biggest challenge, where will the customers come from and how. This key area is one, which entrepreneurs struggle to define publicly and honestly, relying on the old adage “build it and they will come.” But turning an idea into a successful business requires more than hope, it requires a clear plan, based upon a defined winning strategy driving a business model which makes sense and explains why it will succeed.

 

Optimum Solution  

The first step many successful entrepreneurs undertake is to review their idea and build their strategic plan.  To take their idea from embryonic idea to a fully formed business model. From understanding your market and the size and scale of opportunity, to working out where to position yourself and what needs to happen to create interest in what you are offering and how you need to respond to it. Business planning should be seen as the first test of success. IF it can be written down it has a chance to be successful. 

Developing a strategic perspective is a vital first stage in developing an agile and responsive business, by defining your strategic plan enables entrepreneurs to fully assess the whole business model, evaluating all aspects of your business and giving you all the ingredients for a business plan.

 

Take Some Action

 

However you decide to start your business, do look for support. Run your idea past experienced people in bringing businesses to market, look at answering the difficult questions early, while optimism is vital, so is reality as is persistence.

If you are looking to develop your business model then look at developing your strategic plan for your business then why not look at my Business Planning Toolkit, how to take the guess work out of your business success video click here to see the video which will give you a clear strategic plan for your business.