2011 Business Plan Specifics for Action: Part III

I continue to write about the huge benefits that can come from an annual business plan both because I feel that it is incredibly important and, over the past two weeks, I have received feedback from my followers and other readers that I have opened windows of important thinking for them.

Here are some further thoughts based on feedback that I have received from readers:

Writing the plan as a team
If we are part of a team, write the plan as a team, with everyone participating. Why? Because we want everyone to share ownership of what we must do to satisfy clients, grow our business, be more visible, and do all the things prudent to a successful and growing business. We want everyone to contribute their ideas and feel that they are listened to and appreciated, that they matter, and matter a lot!

If outside facilitation will help get everyone to contribute their ideas, then we must do it. We need everyone to share in developing our plan.

Asking the right questions
We want to explore all segments of our business that will make our year successful and be creative in our thinking about answering the following questions:

• How do we keep our clients very happy with our service? We must learn what they expect, need and want from us.
• How do we grow our business?
• How do we secure good, new clients?
• How do we ourselves continue to learn, grow as professionals and improve each day?
• What are our values as a team; what do we stand for?
• How can we help one another do our very best work?
• What and how should we communicate with one another?
• What would enable us to be comfortable with disagreements and healthy conflict, as we want different opinions?
• What new ideas should we think about?
• What are new ways in which we can help our clients?
• How do we establish accountability to one another, and be comfortable asking one another where we stand on doing what we say we will?
• How can we be comfortable accepting these inquiries, realizing that this is what we should be doing in order to have the 2011 that we all want to have?

Again, it can help us to have an outsider follow up with the team. I have seen many teams with the best of intentions during meetings let their intentions slide when they get back to their desks, out on the road, and back to the demands of their work days.

Financials

I have not fully addressed the financials, which may or may not be crafted by all team members.

•  What are our revenue, expense and profit goals?
•  What are the mileposts associated with each set of goals?

Financials should certainly be part of our 2011 business plan, so that during the year we can measure whether or not we are on target.

Marketing

I also encourage us to spend at least that much time, and probably more, on our marketing plan. We must grow, so marketing is essential! The dynamics of marketing change rapidly and are complex, and so we have to pay close attention to how we can capitalize on our people, our strengths, our service and products, our values and how we reach out and invite and engage potential new clients. Ask your team the following questions:

• How do we present ourselves?
• What are our target markets?
• How do we gain visibility?
• How do we network with centers of influence?
• What is our public relations plan?
• How are we advertising? Is it effective?
• How do we best use social media, including our web site, LinkedIn, Facebook, and Twitter to attract and engage potential clients? This, believe me, is key. Get help if necessary

While I believe it is very helpful to get our team together to write a business plan for 2011, I do think it can be done quickly, that is there no reason to spend a great deal of time developing our plan. Here is my challenge to you:

2011 business plan creation checklist:

1. Discuss creating a plan with the appropriate individuals
2. Decide if you want an outside facilitator to join the meetings, remembering that accountability is key and often overlooked
3. Set a date, time and place for the meeting
4. Create an agenda including which topics will be discussed at the meeting
5. Compose and circulate a list of questions about which you want team members to think prior to the meeting
6. Make sure to emphasize that you want the team to bring any and all ideas to the table
7. At the meeting, take measures to create an open and honest atmosphere where everyone’s voice can be heard
8. Take good notes
9. Create action items
10. Commit to accountability and follow up!