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Plan for Profit in 2010

This time of year we should be spending time looking ahead. We should be thinking what we want for our businesses in 2010.

But we all know many people fail to plan.

Whatever you call it, strategic planning, business planning, year-end planning, it sounds important. It also sounds like a lot of work. It looms large as a big, complicated responsibility that a lot of people are not sure how to do.

So, to help you get started and have a successful planning session this year, here is an easy yet effective system you can use.

It’s focused on getting and keeping your clients. Your clients drive your business so they should also drive your planning.

1. Clarify your mission

What does it do for your clients (how does it help them get what they want)? What business are you in (product, service, industry or profession)? And finally, what are your measurable objectives for the next 12 months? (Revenue, net profit, growth?)

2. Identify your best market

Your best market is people who want what you do AND whom you can serve better than anyone else. It’s not enough to know who wants what you do. You need to focus on those you can serve best based on the resources and competitive advantages of your business. That enables you to serve them so well they come back and they tell others.

3. Create your message

How do you tell your market what you do for them? What can you say that they will want to listen to? Make it about them not you. Without a good clear message it will be much harder to attract enough customers to have a sustainable business.

4. Commit resources

Decide how much you will invest in helping your business meet the objective(s) in step #1. Measure this in time as well as money. Make it realistic but make it a stretch too. You don’t grow a business without making an investment.

5. Make it happen

Pick three ways you can deliver your message to your market based on the resources you’ve committed to investing. Then implement them religiously. Focus and concentrate your message on a group small enough so you can connect with them multiple times throughout the year. Track what you are doing and monitor the results. Build a process so you can see what actions (inputs) helps you achieve your objectives (outcomes).

For further information, please contact us on 0121 355 4774 or email
info@je-consulting.co.uk or send us an enquiry.

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