"Build Your Business Plan from the Customer Back"
The only way to truly do that is to learn how to build your plans “from the customer back.” This is not always easy, nor obvious.... But it is something that can be learned and mastered if you take the time to do it right.
There are three types of business planning that you need to consider:
The First is your long-term, exit strategy. We will all leave this earth one way or another. It is not a question of if you will exit your business, it is only a question of when. The way that you leave your business is up to you. It can be at a point of your choosing or allow the forces of the world to determine your fate. Because it is so critical to determine the “end-game”, you should get a long-term financial planner and adviser to help you think through this issue.
The Second is a midterm strategy of two or three years. This is an important ingredient in your planning process. This is the direction you need to take your company. Steven Covey in his book “7 Habits of Highly Effective People” tells us to “Begin with the end in mind.” What kind of company do you want to have? What do you want to stand for in the marketplace? What do you want your customers to think about you?
The Third is the six to twelve months plan that can be stated simply by “What are the most important things you need to do in the next six to twelve months that would have the greatest impact on your business?” The foundation of strategy is deciding those activities where an organization can truly excel. There are many values that customers cherish. Which values will you be able to say “Here is where I am truly great?” The essence of strategy is deciding those unique combinations of competitive advantages you will emphasize. This is the proper mix of those excellent values. Price, quality, speed, and service are examples where you can mix and match strategies to produce the right blend for your marketplace. The final part in building a strategy for your business makes all the difference in the end. How will you create a sustainable, strategic advantage? It can only be done by developing a system to reinforce each of the choices you make.
Contact a TalentValue Certified Advisor to discuss how we can help you Build Your Business from the Customer Back.