A plan is only as good as those who see it through. Putting together a life-changing plan is only as good as your ability to follow it and actualise it. So where do you want to be? How do you intend to win in business in 2015?
Each year your business plan needs to change and be updated. Consider what worked well this year and if it is applicable for your 2015 market. The questions is, what should you change? Here are a few points to challenge your 2015 game plan:
Assess your external environment and review the critical assumptions that would significantly affect your business. Whilst the overall economy might not have changed much, some details may have, and it’s worth looking to check on research data and emerging factors particular in your industry. Here are some of the challenge questions worth considering:
1. What are the major technology trends inside and outside your market?
2. Which regulatory trends and rules influence your market?
3. Where is the market heading?
4. What are our customers’ biggest unsatisfied needs?
5. Is the economy in a boom or bust phase?
6. How good is the public infrastructure in your market?
7. Who are the new entrants in your market?
8. Which products/services could replace yours?
You may already have the gist of what next years’ market will bring. Even if you already have a plan in place, ensure that you adjust it accordingly as new results come in.
Even if the external setting has no surprises, your business plan needs to be updated in consideration of the factors in your business. What areas of your business are working really well? Can you improve on these areas to increase your margin for next year? Analyse your organisation’s current position and use this analysis to gain a strategic advantage in the year ahead.
To help you challenge your plans and implement a game changing strategy these questions could help you clarify some salient points in your business:
1. Who are your most important customers?
2. What value do you deliver to your customers?
3. What is the preferred method by which your customers like to be contacted?
4. What type of relationship does each of your customer segments expect you to establish and maintain with them?
5. What value are your customers really willing to pay?
6. What key resources do your value propositions require?
7. What key activities do your value propositions require?
8. Who are your key partners/suppliers and how can they help you leverage your business?
9. What are the most important costs inherent in your business?
To further to assist you with your planning, we invite you to complete our Growth and Profit Solutions Diagnostic
to pinpoint your Top 3 Business and Personal Issues and Opportunities to focus on in 2015.
Challenging your game plan is an ongoing process. Don’t miss this opportunity to plan ahead in order to hit the ground running next year. Make sure you are poised for a win by wrapping up your game plan before the year starts.