Law is a management tool but other tools are needed. We are delighted to have secured a guest blog from Alan Dring of the Mad Approach Ltd. Alan runs his own sales and marketing consultancy.
As many of you will know we run practical workshops and training courses of course but also publish occasional blogs from friends of the firm.
This month we have two blogs from Alan and in this first part Alan looks at growth and sustainability issues for MD or business owners. In the second part he will look at action planning for survival.
NEVER BEFORE HAVE BUSINESS OWNERS NEEDED HONESTY
The growth and sustainability of a business depends on the TALENT of its people and how prepared and motivated they are when facing an increasingly competitive environment.
80% of businesses have not done a business SWOT in the last 12 months …is yours one? No business SWOT usually means no personal SWOT’s …so do you really know how good (or bad) your team are?
70%of businesses do not have a business action plan; known to all the business…does yours have one?
80% of businesses who have done SWOT’s highlight COMMUNICATION (internal and external) as their major weakness…if asked would your staff say your internal communication was good?
Businesses with between 10-100 staff rarely seek the views of an external resource to give another perspective believing that their internal resource is adequate….is yours?
If those stats strike a chord it is worth giving some consideration to the following 5 aspects of a suggested action plan…. be honest
Identifying Target Markets
- What does your database look like?
- How do you use it?
- Where are you going? Who is going to help you get there?
- Your existing client base
- What do they contribute to your growth?
- The basis of your business and marketing plans
Developing Partnership Business Model
- Ensuring “selling” is an integral part of your culture
- The strength of your brand. How can it be improved?
- Recruitment – Hunters or Farmers?
Promoting Your Business Objectives
- How do you currently measure the value to the business?
- Benefits to be derived from breakfast meetings, Chambers of Commerce etc.
- Networking and how to develop your technique
Building & Gaining Internal Commitment
- Do you have people with a natural flair for innovation to deliver your targets? Do you recruit the “right” staff?
- Do your current rewards and incentives work?
- Are they understood by all?
- How can they be improved to drive growth?
17 bullet points = 17 ticks and you are on the right road to growth.
Anything less or If my comments give you food for thought ring for a chat
Alan Dring – M: 07528 201244 E: firstname.lastname@example.org