Creating A Strategic
Growth Plan
As Featured in “My Business Plan Book:
New Venture Starter Kit”
1
Where Are You Now?
• Changes in the Marketplace
• Trends in the Industry
• Economic Downturn
• Financial Limitations
• Technological Advances
All impact the way we make business
decisions; ultimately affecting the way we do
business and the level of business operation
To reach a higher levels you have to know
what to do and when to do it
2
Is This Where You Want to Be?
Through your vision - you serve as the pilot driving your business.
Would you travel to an unknown and unseen location without a map
(now-a-days a GPS) ?
When your vision is blurred your plans to conduct business are cloudy, off
course and not well defined
As a result you lead the company as though you are lost and confused.
Your marketing is out of focus
This is where your Business Plan comes into the picture. Your plan is your
guide. Your plan begins with your vision for a prosperous future.
“Begin With The End in Mind” a quote from…Steven Covey.
If where you are right now is not where you want to be, a Growth Plan +
Strategy, the (GPS) is what you need.
3
The Marketing Mix Match
•
How many times have you recognized business people, friends
and associates, that you’re unable to tell what business they’re in.
•
You couldn’t refer anyone, or better yet, even do business with
them because you are just not sure.
•Not sure of their merchandise line
•Not sure if they would do a good job for you
•Not sure if they were still in business
•
•
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They have no policies, no image, inconsistent quality, uncommitted
leadership. The list goes on and on …
•
All you know is what you see… and still, you are just not sure. I can
tell you about many small businesses like that. One is on page 54
in “MY Business Plan Book: New Venture Starter Kit”. It’s about a
guy named Geo.
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The Growth Plan Strategy
What if - you knew where you were going and you could not
get lost?
The Growth Plan Strategy (GPS) involves:
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Predictable Sales – ultimately leading to a constant sales
flow, growth and profits
Operational Consistency – on a daily basis – as the norm
Maximum Efficiency – as reflected on financial statements
and in your business activity
Marketing Synergy – Advertising - promotes sales - which
drives quality services and superior products - supported by
timely deliveries, and competitive prices, etc.
Reputation & Trust established as a result of positive
perceptions of your business image - coming from satisfied
customers, industry leaders, financial opinion leaders;
people who have come to respect you and your brand.
5
Marketing is an Investment
A Small Business Spends Marketing Dollars to Generate
Results. Results are achieved in various forms:
• Impact – How will you know if goals were reached?
• Quantitative Returns - On marketing investments in
the form of sales, and a continuum of loyalty purchases
• Good Will – For future sales (BBB concept), trust,
reputation, etc.
• Qualitative Results – How is the marketing ROI
translated. Is it in social media hits, brand awareness, or
dollars & cents? What does it mean to gain market
share, increase sales & achieve greater levels of
profitability?
6
The Budget, The Plan & Growth
• Will your plans to Produce, Promote, Price and
Distribute your goods be drastically diminished
because you don’t have enough money?
• Your BUDGET is critical to the strategies outlined in
your plan to:
1. Get More Customers
2. Build Your Brand
3. Achieve Customer Loyalty
4. Package, Promote and Distribute
5. Manage Relationships With Clients
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How Do I Make This Year Better
The first move is to step outside of your company; and outside
of yourself as its CEO
• Look at your profit center(s) and cost center(s):
• If you are unable to diminish the need for the cost center,
and increase the value driven from your profit center, then
a marketing plan is needed. It will become your Most
Valuable Tool (MVT)
Ask Yourself:
1. “How can I reduce costs in areas like distribution, time
spent on sales transactions, getting customers, space,
production. etc.”?
2. “In what areas can I make changes that will enable me
to generate more revenue”?
3. For example look at ways to repackage current
products, create new uses for old products, upgrade
services to accommodate loyal customers, and more.
What can you do?
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Strategic Marketing Plan
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Forecasting 101
• You should always “Be in the Know” about your
industry, the marketplace, technology, and the
consumers’ interests, as related to your products
and services.
• Understanding these trends will help you forecast for
growth. Ask your accountant. He or she should
know.
• Which reminds me - Should you fire your
accountant or give him or her a raise?
• You’ll get the answer to this question, and others
on February 23rd at the upcoming, one-dayworkshop retreat.
10
Forecast Growth For Your 2nd Quarter
Forecasting 101 – 7 Basics you need to know:
1. Customers’ buying patterns
2. Media updates - Economy updates
3. Response rates to your advertising, promotion, and PR
4. Situations in the marketplace that affect your business
5. Industry growth patterns, including any drastic changes
(present or future) that can create pitfalls
6. Reasons why customers buy
7. What the competition is up to
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Available at:
• AJ Management
• Amazon
• Barnes & Noble
• The
Empowerment
Bookstore,
Jamaica, NY
www.mybusinessplanbook.com
Marketing Strategy – The Heart of the
Marketing Plan
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