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UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 1
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 2
UK Business Advisors
UKBA: the local business improvement team ......with worldwide back-up. The Pragmatic Approach to Business Solutions Who are we? - We are a group of independent business advisors working across the UK. Accredited by the Institute for Independent Business, we all have hands on experience of running our own businesses. We know what it's like! Who do we work with? - We work with small to medium sized organisations that are working too much "in the business", rather than "on the business"....and who are looking to develop a future strategy, as well as being open to external help and support. What do we do? - We help small businesses grow to become bigger organisations and achieve sustained profitable growth. How do we do it? - With expertise across a wide range of industry sectors and skills, we adopt a hands on, practical approach to the issues facing a business.....working with Managing Director/Owners to resolve problems across finance, sales and marketing, operations, people and management. We develop action based, timed and measured plans to achieve results. We look at where you are now, where you want to get to and how you are going to get there. Why do we do it? - We get passionate about the different businesses that we work with and are driven by making your business (as well as ours!) a success.
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 3
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 4
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 5
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 6
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 7
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 8
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 9
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 10
o o o o
Strengths--internal factors- such as expertise, innovation, and resources. Weaknesses--internal factors- such as a high level of debt, slow moving inventory, and labour shortages. Opportunities--external advantages- such as a rapidly growing market where demand outstrips supply. Threats--potential external risks- such as natural disasters, competitive price undercutting, and changes in the general business environment.
Calculate SWOT, and you can quickly identify your venture's pros and cons. Aligning internal strengths and weaknesses with external opportunities and threats is essential to sound strategic planning. With SWOT, you know where you stand today and where you are going tomorrow. With SWOT, you can identify and prioritize the issues that will accelerate success. In the planning stages of jump starting your business, SWOT is essential to your business plan--especially if you're looking for capital. Why? Investors appreciate any type of analysis that minimizes their risk. The SWOT analysis identifies internal and external factors that can impact your business success.
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o o o o o o
Operational issues--the efficiency of your operation. Staff and employees--the loss of a key salesperson or supervisor. Capacity-- resources available that match supply with demand. Cash flow--the timely flow of revenues to pay financial obligations. Costs--costs of doing business such as payroll, equipment, and rent. Productivity--ability to produce desired number of products or level of service within a given time frame.
External factors are general conditions and environmental factors that are outside of your control:
o o o o o o o
The general business environment--interest rates and demographics. Economic change--a sudden deterioration in the geographic/regional market or growth in the macroeconomic climate. Industry/market/customer trends- -changes in the competitive landscape. Technology trends--trends that can be used to your advantage. Regulatory environment--changes that can create opportunity. Weather issues--whether you are a tennis pro, a painter, or a landscaper, long periods of bad weather can limit revenue-generating opportunities. Product availability-- manufacturing materials that you count on are suddenly impossible to obtain.
The purpose of the SWOT analysis is to examine and identify all of these factors, (the likelihood that some or all of the factors will come into play), quantify how they can affect your business, and then develop a contingency plan. Examine each of the internal and external factors and develop reasonable responses.
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 12
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 13
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Meet with existing society managers and volunteers to Develop telephone soliciting campaign Mail out flyers and brochures to targeted contributors Organize a celebrity dinner at $200 per plate Involve the business community, meet with Chamber of
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UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 21
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o o o o o o o o
Begin with a discovery process to confirm the viability of your venture. Do your homework. Uncover fundamental objectives, insights, opportunities and risks. Research the market. Examine your offering, market conditions, trends, and the competition. Excavate potential problems. Outline your goals and objectives. Compile the business intelligence you need to create a solid foundation of actionable information to chart your present and future direction.
The next logical step is to develop a plana strategic business plan that functions as a living document to define your objectives, guide your business, and take you from Point A(where you are today) to Point Z (where youd like to be). But remembera strategic plan is about more than securing fundingits essential to jump starting your business. And once youve written your business plan, follow it up with an action plan that spells out your short and long-term objectives and how youll achieve them. Just remember thisthere is no underestimating the power of planning. As the former CEO of Octel and Lucent Technologies notes, People usually plan their vacations more carefully than they plan their careers. Im a compulsive planner, but there were times when I had no idea what I was doing.
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o o
Cover letterwrite a cover letter to introduce you and your business plan to your audience. Title pageinclude a title page that details the content of your plan, your name, address, phone number, names and positions of the executive team, date and contact information.
o o
Table of contentsadd a table of contents to make it easy for readers to find information. Statement of purposeinclude a clearly stated explanation of your companys goals and how youll achieve them. For example, your statement of purpose may be to provide quality, reliable landscaping services for less in the Phoenix metropolitan area. Describe your value proposition, whether its price, convenience, service or another attribute, how much capital youll need, and how youll repay it.
Executive summarythis is the most important part of your business plan. Include a brief summary that highlights the major points of your plan. Provide background on your business, the market, your value proposition, key team members, projected ROI (Return on Investment), internal rate of return, and current and potential risks.
Market informationdescribe your target market(s). Substantiate statements with facts and supporting detail. Include market research on initial and future markets, key market segments, past growth rates, anticipated trends and changes.
o o
Companydescribe your company, its type, history, legal structure, industry, market, principals, and revenue size and growth rate. Product/service descriptiondescribe your offering, relevant business benefits, stage of development, how your product/services will satisfy a real business need and enable you to compete.
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Potential risk factorsinclude an assessment of the risks facing the company. Describe the worst-case scenario and anything that could go wrong today and in the future. Offer strategies for overcoming risk.
Execution/action plandescribe how youll translate your business plan into actionable results down to the finest detail. Describe how you will obtain licenses to do business, open an establishment, get products on the shelf, hire employees, and forge partnerships. Describe production schedules, delivery processes, and customer service policies in order to set operational benchmarks to measure progress.
Financial informationInclude a section that projects future revenues and profits three to five years out. Base this information on best-case, worst case and most likely-case scenarios. Summarize financial data like cash flow, income statements, balance sheets, banking relationships, terms and rates of loans, financing plans and working capital requirements.
Legal preparationincludes corporate bylaws, patents and trademarks, licenses to do business, employment agreements, and customer contracts. Anticipate the legal and documentary setup your business will require. Writing a business plan can seem like a daunting task. However, there are many resources available to help you prepare a sound plan. You can find books in your local bookstore, software programs and templates online and in local computer/software stores or you can work with a consulting firm, a nearby Small Business Development Centre or a local business school.
No time like the present to start to plan your work and work your plan. Happy planning
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Most effective strategy processes begin with a stock-take: a review and assessment of the organizations current products, markets and customers. This is an essential first step to kicking off a good strategy-setting exercise. Yet no strategy process that I have come across conducts an even more crucial preliminary activity even before the one described above. This is to ask what the sponsor of the strategy process thinks of when he or she thinks about strategy. What, in effect, does strategy mean to you? Everyone leading or facilitating a strategy review should ask this question. The answers may amaze you. And they may make the sponsor quite uncomfortable. The reason is that most people in business have a very different idea of what strategy really means. Unless a facilitator unpacks the organizations perception about what a strategy means to them, then success is unlikely. It becomes impossible to determine what must be delivered. For some executives, a strategy will be the way they hope to increase the share price over the next year. For others, it will mean sorting out which take-over candidates it should approach. One of my clients saw strategy as determining how to negotiate a management buy-out from the majority shareholder. Still others will see strategy in a purer light: what is the long term future that we can envision for the company, and what is the best route to get there? None of these different perceptions of strategy is wrong. They are the sponsors genuinely held beliefs. But each represents a starting point in the sponsors mind about why a strategy was seen to be required. And a facilitator of strategy needs to understand these at the start. But theres even more to it than this.
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UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 31
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UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 35
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 36
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o o o o o o o o
Create an action plan based on your business plan. Review the action plan with your team and solicit feedback. Agree on a strategy and a direction. Review your long-and short-term objectives. Break the objectives down into manageable components. Identify required tasks and prioritize them. Begin executing against these goals, taking incremental, baby steps. Break large tasks down into manageable short-term efforts. As each smaller goal is reached, youll experience a sense of accomplishment and generate momentum and confidence.
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 39
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 40
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UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 42
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 43
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A feasibility study is a great tool that can help you to assess risk and reward. It provides a detailed investigation and an analysis of factors that influence your project to determine whether or not the project is viable. The study examines the economic, marketing, technical, managerial, and financial aspects of your proposed business idea. The feasibility study is based on a cost benefit analysis of your actual business, and the study is used to support your decision-making process. A feasibility study is an effective way to safeguard against the waste of resources of time, people, or money that may be exhausted before an idea or project is deemed viable. Whether you are applying for a SBA business loan, seeking funds for expansion or plant modernization, or deciding which steps come next in growing your business, a detailed feasibility study will give you the professional support that you need to make your case. A thorough feasibility analysis investigates the impact that each of following issues can have on your idea or project:
o o o o
Economic (labour, utilities, transportation, economic impact, etc.) Marketing (availability, plans, competition, targets and potential, etc.) Technical (site, equipment, modernization, constraints, etc.) Financial (cash flow, costs)
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UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 67
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 68
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 69
Where decisions about key business directions are taken without reference to financial performance indicators such as cash flow and profit;
o o
Where accountants report to strategy meetings but are not asked to explain the business trends that might have generated the numbers; Where marketing departments develop strategies without road-testing these in financial terms;
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 70
Institute a change program at Board level to ensure that future strategic governance can deal more effectively with corporate accounts;
o o o o
Re-vamp accounting departments to also provide insightful information about what is happening in the business; Build stronger links with the providers of customer and market Management Information in the company; Build financial models that explicitly connect strategy to financial impacts; Build training courses on key financial measures for the other departments in the company;
Such efforts will pay-off over time. The captain of a naval destroyer understands exactly the capability of the engine room and where the precise application of horsepower will have most effect. Accounting departments need similarly to see themselves as guardians of the information that drives the engine room of the business.
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 71
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 72
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 74
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 75
o o o o o o o o o o o
A strong, clear, well-defined, growth-oriented vision A pervasive, consistently reinforced cultural ambience which fosters creativity, autonomy, innovativeness, and best practices Clear internal rules and operating requirements Internal solidarity through an us vs. them paradigm (which can be highly effective in a competitive business environment) Exemplary financial and psychological income and reward systems A high degree of carefully calculated risk taking Fearless action in the face of changing in business environments Confident in leading change and an unwavering belief in right strategy Strong internal locus of control, i.e., self-directed, autonomous, and independence of thought and action A laser-like focus on vision and goals throughout the entire execution process Ability to generate and maintain interest and enthusiasm in employees and customers
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 76
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 77
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 78
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 79
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 82
If they don't have your business card, how easy is it to find you?
Let's keep this simple. Have business cards. Always have business cards. They don't have to be super fancy, but they need to be professional looking and accurate.
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 83
People usually don't mind going into voice mail or dropping an email that doesn't get an immediate response. They DON'T accept too long of delays. How long is acceptable? It depends on your business and your competition. If you are in a really competitive business such as real estate or banking, do you want them left hanging too long?
Are you're hours of operation normal and if not, do they know it?
I had a cruise consultant that worked 2 days of the week and different hours during those days. It made me crazy. In her case, a simple solution would be to send me a note with a card that I could keep by my phone with her business hours and oh, by the way, this person or that person could help you also. Just remember if your hours are too much out of whack with theirs, that could be a deciding factor and not in your favour.
Another simple question. Everyone in any business should have a website. Even if you are working for someone, for a couple of bucks a month have www.johndoecares.com. Put a picture, contact information and a link to your company's website and you're done. If it's your business, you can still keep it simple with hours of operation and what you do and why you are different. Even if you have a lot of information, each page should be easy to look at, not too laden with text and simple to move around in. Remember that the website is you. So if the potential customer is having a difficult timing getting around or understanding your website, they are having a difficult time with you.
If you have marketing material, is it easy to understand and clear on how to contact you?
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 84
If you're on vacation or out of the office, does your voice/e mail reflect that?
Simple (and frequent) mistake. Think about the client that emails you with a question and it goes into a black hole. Very frustrating, even if they do find out two weeks later you were on vacation. What you need to do is relevant again to your industry. It may be acceptable just for a bounce back that states" you are out until such and such a date, and if it's an emergency (always have that line) they can contact Alice Associate at xxxxxxx or you on your cell at xxx-xxxx". You may need or want someone to check both your phone and email frequently. Bottom line is NEVER leave a customer or potential customer without an alternative, because THEIR alternative is your competition.
If they have a problem with your services, do you confront the issue or try to avoid it?
You are allowed to make mistakes. You really are. You WILL however be judged on how you DEAL with that mistake. Acknowledge the issue, apologize for their inconvenience, RESOLVE the issue, take steps to ensure that it won't happen again and then move on. Believe it or not, taking those 5 steps will take less effort and consequence then trying to avoid the issue.
This is the "before the stuff hits the fan" moment. You see a mistake before the customer does or you sense the customer is displeased with something but you don't know what it is. Deal with it. If it's the customer out of sorts, ask them if there is an issue. If you are the proactive one, it shows you care about your relationship and it's important to you that everything is good between you. The customer will eat it up!
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 85
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 86
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 87
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 88
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 89
NOTE: Price ... Where margins are low price is a order winner.. Where margins are high price is not an order winner. Customers in high margin items are just looking for a range to fit their needs and will purchase if it is "competitive."
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 91
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 93
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 94
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 96
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 97
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 100
o o o o o o o o
Knowing your strengths and weaknesses Having targets in place Plan covering all aspects of the business Effective measurements in place for the business performance Ensuring that product and service offerings meet the needs of the market Ability to create a competitive edge Efficient, clear and consistent business processes Inspired and driven leaders
Getting back to your core competencies and strengths in order to focus and build upon them is where we can work with you to provide you with that competitive advantage and get back to that vision you had for your company. In its simplest form where you are now, where do you want to be and how are you going to get there through an action based plan.
o o o
Do you have a shared vision for the business, or has it been forgotten? Are you struggling with growth or profitability issues? Would you like to make a step-change in revenue and profit growth?
This strategy review could help your company make a step change in its performance, productivity and profitability. Typically a medium sized business has developed a basic business platform. However, it may not yet have a full team of effective leaders or a clear strategy for growing the business.
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 101
o o o o o o o
Vision & Mission The Marketplace Sales & Marketing Operations Resources Finance Actions
What do we actually do? Plan: Agree the intended outcome in advance with the MD and senior management team. Request some preparatory work prior to the strategy day. Assess: A review of where your business is at now within finance, sales and marketing, operations and resources, where you want it to be your vision, how you are going to get there given the market conditions. What are the business issues and how can they be resolved. What are some of the key performance indicators and measures to put in place to measure success? Feedback: A Business Development Proposal is facilitated with the management team. Typically this will be up to half a dozen initial objectives for immediate development and implementation.
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 102
o o o
Prioritised actions Expected benefits Costs of our involvement to make this happen
Typically this will entail a couple of days a month helping to drive the business forward. In the early days our involvement may be more intensive but this very much depends on what you want to do.
To apply for a strategic review for your organisation, please get in touch with us via any of the contact details below.
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 103
http://www.chadons.com/ | terry@chadons.com
Shane Busby, BSc. MBA, is the principal of the firm. Shane has 16 years of experience in providing advice and services to individuals and organizations in the healthcare sector. Prior to opening the Firm, Shane served 12-years with the Ministry of Health in British Columbia in both consultancy and management positions. He has specialized knowledge in services and programs for seniors and has participated on several provincial committees and working groups dedicated to healthcare policy, strategy, finances, and legislation. http://www.busbyplans.com | shane@busbyplans.com
Busby & Associates Consulting | Vancouver | BC | Canada P h o n e ( 778) 338 5325 | Fax (778) 338 5326
Art Consoli held eight corporate positions with Johnson & Johnson before starting his first business. He went on to build over twenty businesses from patents or ideas or from businesses others couldn't make successful. These ranged from starting a veterinarian drug company to taking over a steel fabricating company to developing the first manufactured home subdivision to qualify for every private and government assisted mortgage program in Arizona. He also did ten workouts for lenders and owners; the last was a $30 million, 300 employee, precision parts manufacturing plant that made parts for the auto industry. Consoli's unique background and skills allow him to speak and write about how someone with limited experience can do a self-evaluation which will let him decide which business opportunity is best, how to evaluate opportunities and gain control over the one which offers the greatest potential and then manage that business to success. http://www.businessstrategyartconsoli.com | aconsoli@cox.net
Art Consoli | P O Box 9666 | Scottsdale | AZ 85252 Phone/Fax (480) 949 7125
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 104
www.metamatrixconsulting.com | david@davidgoldsmith.com
An author, speaker, and consultant, Terry H. Hill is the founder and managing partner of Legacy Associates, Inc., a business consulting and advisory services firm based in Sarasota, Florida. A veteran chief executive, Terry works directly with business owners of privately held companies on the issues and challenges that they face in each stage of their business life cycle. Terry is the author of the business deskreference book, How to Jump Start Your Business. He hosts the Business Insights from Legacy Blog at http://blog.legacyai.com and writes a bi-monthly eNewsletter, "Business Insights from Legacy eZine." http://www.legacyai.com | terry.hill@legacyai.com Legacy Associates Inc | 8223 Championship Court | Lakewood Ranch | Florida 34202
Phone (941) 556 1299 | Fax (941) 929 2976
Connie Knieper resides in the south eastern Michigan with future plans to migrate to the north and live in her dream house, a log cabin. She enjoys spending time with family and friends, and she loves many outdoor activities, such as boating, gardening, fishing, hunting, snowmobiling, or just relaxing in the hammock reading a book. Connie describes herself as an optimistic, enthusiastic person. She has very high expectations of herself and is extremely organized. When she is given a task or responsibility she gives wholeheartedly to it and aggressively works to accomplish it. Her greatest strength is developing and organizing plans to achieve goals. Her greatest weakness is being too direct. http://www.goalachievements.com/ | clknieper@hughes.net
Goal Achievements, L.L.C. | P. O. Box 751 | Lakeland | MI 48143 Phone (734) 645-0599 | Fax (734) 954-0094
Nick McCormick is a principal of Be Good Ventures, a management consulting company and author of "Lead Well and Prosper: 15 Successful Strategies for Becoming a Good Manager" http://BeGoodVentures.com | nick.mccormick@begoodventures.com
Be Good Ventures LLC | 102 Patrick Henry Dr | Downingtown | PA 19335 Phone (610) 518 2126 | Fax (610) 518 2127
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 105
In 1989 Dr. Rebecca Staton-Reinstein discovered $1.2 million of annual waste in a major US company where she worked and implemented a successful solution to eliminate it. What was ground breaking about her initiative was that no one else had analyzed the existing data and discovered the story that they told. For over 20 years "Dr. Rebecca" has been helping companies as a manager, leader and consultant discover their own stories and create improved business value and results from them. http://www.AdvantageLeadership.com | rebecadv@cs.com
Advantage Leadership | 633 NE 167th St., Ste. 1015 | North Miami Beach | FL 33162 Phone (305) 652 3466 | Fax: (305) 652 3866
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 106
UKBA Business Advisors Ltd | White House | 66 Altwood Road | Maidenhead | Berkshire | SL6 4PZ Phone 0870 420 2756 | Fax 0709 280 8482 | www.ukba.co.uk | info@ukba.co.uk UK Business Advisors Limited is registered in England & Wales, company number 0528 8512. No unauthorised use of any of the contents of this ebook is permitted - All rights reserved 107
Paul Green
20/11/2007 12:55:00
Strategy Review
In order to support businesses with achieving sustained profitable growth, UK Business Advisors have put together a simple but effective strategic review aimed at companies with over 5 people. There are nearly 4 million businesses in the UK. Every year nearly 400,000 are formed with nearly as many failing. Most businesses stay small or plateau at a certain level without being able to grow. So what distinguishes a successful business? Knowing your strengths and weaknesses Having targets in place Plan covering all aspects of the business Effective measurements in place for the business performance Ensuring that product and service offerings meet the needs of the market Ability to create a competitive edge Efficient, clear and consistent business processes Inspired and driven leaders
Getting back to your core competencies and strengths in order to focus and build upon them is where we can work with you to provide you with that competitive advantage and get back to that vision you had for your company. In its simplest form where you are now, where do you want to be and how are you going to get there through an action based plan. Do you have a shared vision for the business, or has it been forgotten? Are you struggling with growth or profitability issues? Would you like to make a step-change in revenue and profit growth?
This strategy review could help your company make a step change in its performance, productivity and profitability. Typically a medium sized business has developed a basic business platform. However, it may not yet have a full team of effective leaders or a clear strategy for growing the business.
Our review will develop an agreed Business Development Proposal, which will identify the key steps needed to move the business forward, such as: Vision & Mission The Marketplace Sales & Marketing
What do we actually do? Plan: Agree the intended outcome in advance with the MD and senior management team. Request some preparatory work prior to the strategy day. Assess: A review of where your business is at now within finance, sales and marketing, operations and resources, where you want it to be your vision, how you are going to get there given the market conditions. What are the business issues and how can they be resolved. What are some of the key performance indicators and measures to put in place to measure success? Feedback: A Business Development Proposal is facilitated with the management team. Typically this will be up to half a dozen initial objectives for immediate development and implementation.
What happens next? We complete the Business Development Proposal outlining: Prioritised actions Expected benefits Costs of our involvement to make this happen
Typically this will entail a couple of days a month helping to drive the business forward. In the early days our involvement may be more intensive but this very much depends on what you want to do.
To apply for a strategic review for your organisation, please get in touch with us via any of the contact details below.
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