By BOB ROSNER
Jan. 11, 2008
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Dear WOUNDED: Our company does a crummy job of strategic planning. I was invited to participate in the process this year, what can I do to help us actually accomplish something?
ANSWER: Have you ever woken up during a road trip only to find your surroundings looking very similar to the scenery you passed hours ago? I once was driving with a friend to Florida and woke up to discover that my driving buddy had made a wrong turn and we had spent hours driving in the wrong direction. When I pointed out we were driving in the wrong direction he said, "At least we made great time."
Story
RSS Feed: Send ABC Business News to Your Computer
Sound similar to the last strategic planning session that you were involved with? You made progress, but much of it in the wrong direction? Or maybe you've just always wanted to be part of the decision-making process for your company. I've listed three do's and one don't to help you exert the maximum influence over the direction that your company takes in the future. For more, check out Erica Olson's book, "Strategic Planning for Dummies" (Wiley, 2007).
DO Ask tough questions. One way to ensure that your strategic plan is pointed in the correct direction is to ask tough questions. What would happen if we lost our biggest customer? What if a new competitor entered our market? What could we do if the bottom dropped out of our industry?
Start by taking off your rose-colored glassed and challenging every assumption out there about your industry, customers and business. Avoid the temptation to just mimick what others in your industry are doing, and instead tailor your plan to your company's specific strengths and weaknesses.
DO Look for leverage. Most of us focus on the "planning" part of strategic planning at the expense of the "strategic" part. What is unique about your company? What do your customers like about working with you? What don't they like about working with you? The overused phrase here is "competitive advantage." What do you do better than anyone else in the market and how can you leverage that? Or what are you doing that you shouldn't be doing?
DO Get everyone involved. Many organizations restrict participation in planning to the corner office crowd. Unfortunately, many of the breakthrough ideas come from the front lines, from the people actually interacting with customers and suppliers. Look for ways to get all the stakeholders involved in the process -- focus groups, surveys, town hall-style meetings. I'm not suggestion chaos, but come up with a process that includes a wide range of perspectives and opinions.
DON'T Seek to control the process.Corporations hate surprises. Strategic planning processes should be full of surprises, because they are looking into the future. Be careful to not stifle brainstorming or dissent. The more reality that gets into the process, the better your company will be positioned to handle the reality it faces in the future.
Follow these tips and your planning process will make great progress, in the correct direction.
Thought for the Week
"Plans are nothing, planning is everything." -- President Dwight Eisenhower
Full Coverage
Business News Every Morning: Sign Up for MONEYScope Daily E-Mail Now
List of the Week
Wacky work … Best workplace stories from last year
# A move by South Korea's Hana Bank to send single female employees on blind dates to boost morale.
# An architecture firm in Barcelona's plans to build a $4 million-per-night hotel on the moon by 2012. It acknowledged the challenges zero gravity poses to bathroom builders.
# Delinquent policemen in Thailand being punished by having to wear Hello Kitty armbands.
# Millbrook, Alabama's full-day shutdown of city hall so employees could visit the new Wal-Mart. They had to bring a receipt back as proof of purchase.
# The firing of an Iowa woman for keeping a diary of how she avoids work.
From: Challenger, Gray & Christmas
Bob Rosner is a best-selling author, speaker and internationally syndicated columnist. He'd love to hear your thoughts on this topic, especially if you have better ideas than he does. His books include "The Boss's Survival Guide" and "Gray Matters: The Work place Survival Guide." Send your questions or comments to him via: bob@workingwounded.com.
ABCNEWS.com publishes a new Working Wounded column every Friday. This work is the opinion of the columnist and in no way reflects the opinion of ABC News.
Monday, January 14, 2008
Working Wounded: Planning for Your Company's Future
By BOB ROSNER
Jan. 11, 2008
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Dear WOUNDED: Our company does a crummy job of strategic planning. I was invited to participate in the process this year, what can I do to help us actually accomplish something?
ANSWER: Have you ever woken up during a road trip only to find your surroundings looking very similar to the scenery you passed hours ago? I once was driving with a friend to Florida and woke up to discover that my driving buddy had made a wrong turn and we had spent hours driving in the wrong direction. When I pointed out we were driving in the wrong direction he said, "At least we made great time."
Story
RSS Feed: Send ABC Business News to Your Computer
Sound similar to the last strategic planning session that you were involved with? You made progress, but much of it in the wrong direction? Or maybe you've just always wanted to be part of the decision-making process for your company. I've listed three do's and one don't to help you exert the maximum influence over the direction that your company takes in the future. For more, check out Erica Olson's book, "Strategic Planning for Dummies" (Wiley, 2007).
DO Ask tough questions. One way to ensure that your strategic plan is pointed in the correct direction is to ask tough questions. What would happen if we lost our biggest customer? What if a new competitor entered our market? What could we do if the bottom dropped out of our industry?
Start by taking off your rose-colored glassed and challenging every assumption out there about your industry, customers and business. Avoid the temptation to just mimick what others in your industry are doing, and instead tailor your plan to your company's specific strengths and weaknesses.
DO Look for leverage. Most of us focus on the "planning" part of strategic planning at the expense of the "strategic" part. What is unique about your company? What do your customers like about working with you? What don't they like about working with you? The overused phrase here is "competitive advantage." What do you do better than anyone else in the market and how can you leverage that? Or what are you doing that you shouldn't be doing?
DO Get everyone involved. Many organizations restrict participation in planning to the corner office crowd. Unfortunately, many of the breakthrough ideas come from the front lines, from the people actually interacting with customers and suppliers. Look for ways to get all the stakeholders involved in the process -- focus groups, surveys, town hall-style meetings. I'm not suggestion chaos, but come up with a process that includes a wide range of perspectives and opinions.
DON'T Seek to control the process.Corporations hate surprises. Strategic planning processes should be full of surprises, because they are looking into the future. Be careful to not stifle brainstorming or dissent. The more reality that gets into the process, the better your company will be positioned to handle the reality it faces in the future.
Follow these tips and your planning process will make great progress, in the correct direction.
Thought for the Week
"Plans are nothing, planning is everything." -- President Dwight Eisenhower
Full Coverage
Business News Every Morning: Sign Up for MONEYScope Daily E-Mail Now
List of the Week
Wacky work … Best workplace stories from last year
# A move by South Korea's Hana Bank to send single female employees on blind dates to boost morale.
# An architecture firm in Barcelona's plans to build a $4 million-per-night hotel on the moon by 2012. It acknowledged the challenges zero gravity poses to bathroom builders.
# Delinquent policemen in Thailand being punished by having to wear Hello Kitty armbands.
# Millbrook, Alabama's full-day shutdown of city hall so employees could visit the new Wal-Mart. They had to bring a receipt back as proof of purchase.
# The firing of an Iowa woman for keeping a diary of how she avoids work.
From: Challenger, Gray & Christmas
Bob Rosner is a best-selling author, speaker and internationally syndicated columnist. He'd love to hear your thoughts on this topic, especially if you have better ideas than he does. His books include "The Boss's Survival Guide" and "Gray Matters: The Work place Survival Guide." Send your questions or comments to him via: bob@workingwounded.com.
ABCNEWS.com publishes a new Working Wounded column every Friday. This work is the opinion of the columnist and in no way reflects the opinion of ABC News.
Jan. 11, 2008
Font Size
Share
Dear WOUNDED: Our company does a crummy job of strategic planning. I was invited to participate in the process this year, what can I do to help us actually accomplish something?
ANSWER: Have you ever woken up during a road trip only to find your surroundings looking very similar to the scenery you passed hours ago? I once was driving with a friend to Florida and woke up to discover that my driving buddy had made a wrong turn and we had spent hours driving in the wrong direction. When I pointed out we were driving in the wrong direction he said, "At least we made great time."
Story
RSS Feed: Send ABC Business News to Your Computer
Sound similar to the last strategic planning session that you were involved with? You made progress, but much of it in the wrong direction? Or maybe you've just always wanted to be part of the decision-making process for your company. I've listed three do's and one don't to help you exert the maximum influence over the direction that your company takes in the future. For more, check out Erica Olson's book, "Strategic Planning for Dummies" (Wiley, 2007).
DO Ask tough questions. One way to ensure that your strategic plan is pointed in the correct direction is to ask tough questions. What would happen if we lost our biggest customer? What if a new competitor entered our market? What could we do if the bottom dropped out of our industry?
Start by taking off your rose-colored glassed and challenging every assumption out there about your industry, customers and business. Avoid the temptation to just mimick what others in your industry are doing, and instead tailor your plan to your company's specific strengths and weaknesses.
DO Look for leverage. Most of us focus on the "planning" part of strategic planning at the expense of the "strategic" part. What is unique about your company? What do your customers like about working with you? What don't they like about working with you? The overused phrase here is "competitive advantage." What do you do better than anyone else in the market and how can you leverage that? Or what are you doing that you shouldn't be doing?
DO Get everyone involved. Many organizations restrict participation in planning to the corner office crowd. Unfortunately, many of the breakthrough ideas come from the front lines, from the people actually interacting with customers and suppliers. Look for ways to get all the stakeholders involved in the process -- focus groups, surveys, town hall-style meetings. I'm not suggestion chaos, but come up with a process that includes a wide range of perspectives and opinions.
DON'T Seek to control the process.Corporations hate surprises. Strategic planning processes should be full of surprises, because they are looking into the future. Be careful to not stifle brainstorming or dissent. The more reality that gets into the process, the better your company will be positioned to handle the reality it faces in the future.
Follow these tips and your planning process will make great progress, in the correct direction.
Thought for the Week
"Plans are nothing, planning is everything." -- President Dwight Eisenhower
Full Coverage
Business News Every Morning: Sign Up for MONEYScope Daily E-Mail Now
List of the Week
Wacky work … Best workplace stories from last year
# A move by South Korea's Hana Bank to send single female employees on blind dates to boost morale.
# An architecture firm in Barcelona's plans to build a $4 million-per-night hotel on the moon by 2012. It acknowledged the challenges zero gravity poses to bathroom builders.
# Delinquent policemen in Thailand being punished by having to wear Hello Kitty armbands.
# Millbrook, Alabama's full-day shutdown of city hall so employees could visit the new Wal-Mart. They had to bring a receipt back as proof of purchase.
# The firing of an Iowa woman for keeping a diary of how she avoids work.
From: Challenger, Gray & Christmas
Bob Rosner is a best-selling author, speaker and internationally syndicated columnist. He'd love to hear your thoughts on this topic, especially if you have better ideas than he does. His books include "The Boss's Survival Guide" and "Gray Matters: The Work place Survival Guide." Send your questions or comments to him via: bob@workingwounded.com.
ABCNEWS.com publishes a new Working Wounded column every Friday. This work is the opinion of the columnist and in no way reflects the opinion of ABC News.
Working Wounded: Planning for Your Company's Future
By BOB ROSNER
Jan. 11, 2008
Font Size
E-mail
Print
Share
Dear WOUNDED: Our company does a crummy job of strategic planning. I was invited to participate in the process this year, what can I do to help us actually accomplish something?
ANSWER: Have you ever woken up during a road trip only to find your surroundings looking very similar to the scenery you passed hours ago? I once was driving with a friend to Florida and woke up to discover that my driving buddy had made a wrong turn and we had spent hours driving in the wrong direction. When I pointed out we were driving in the wrong direction he said, "At least we made great time."
Story
RSS Feed: Send ABC Business News to Your Computer
Sound similar to the last strategic planning session that you were involved with? You made progress, but much of it in the wrong direction? Or maybe you've just always wanted to be part of the decision-making process for your company. I've listed three do's and one don't to help you exert the maximum influence over the direction that your company takes in the future. For more, check out Erica Olson's book, "Strategic Planning for Dummies" (Wiley, 2007).
DO Ask tough questions. One way to ensure that your strategic plan is pointed in the correct direction is to ask tough questions. What would happen if we lost our biggest customer? What if a new competitor entered our market? What could we do if the bottom dropped out of our industry?
Start by taking off your rose-colored glassed and challenging every assumption out there about your industry, customers and business. Avoid the temptation to just mimick what others in your industry are doing, and instead tailor your plan to your company's specific strengths and weaknesses.
DO Look for leverage. Most of us focus on the "planning" part of strategic planning at the expense of the "strategic" part. What is unique about your company? What do your customers like about working with you? What don't they like about working with you? The overused phrase here is "competitive advantage." What do you do better than anyone else in the market and how can you leverage that? Or what are you doing that you shouldn't be doing?
DO Get everyone involved. Many organizations restrict participation in planning to the corner office crowd. Unfortunately, many of the breakthrough ideas come from the front lines, from the people actually interacting with customers and suppliers. Look for ways to get all the stakeholders involved in the process -- focus groups, surveys, town hall-style meetings. I'm not suggestion chaos, but come up with a process that includes a wide range of perspectives and opinions.
DON'T Seek to control the process.Corporations hate surprises. Strategic planning processes should be full of surprises, because they are looking into the future. Be careful to not stifle brainstorming or dissent. The more reality that gets into the process, the better your company will be positioned to handle the reality it faces in the future.
Follow these tips and your planning process will make great progress, in the correct direction.
Thought for the Week
"Plans are nothing, planning is everything." -- President Dwight Eisenhower
Full Coverage
Business News Every Morning: Sign Up for MONEYScope Daily E-Mail Now
List of the Week
Wacky work … Best workplace stories from last year
# A move by South Korea's Hana Bank to send single female employees on blind dates to boost morale.
# An architecture firm in Barcelona's plans to build a $4 million-per-night hotel on the moon by 2012. It acknowledged the challenges zero gravity poses to bathroom builders.
# Delinquent policemen in Thailand being punished by having to wear Hello Kitty armbands.
# Millbrook, Alabama's full-day shutdown of city hall so employees could visit the new Wal-Mart. They had to bring a receipt back as proof of purchase.
# The firing of an Iowa woman for keeping a diary of how she avoids work.
From: Challenger, Gray & Christmas
Bob Rosner is a best-selling author, speaker and internationally syndicated columnist. He'd love to hear your thoughts on this topic, especially if you have better ideas than he does. His books include "The Boss's Survival Guide" and "Gray Matters: The Work place Survival Guide." Send your questions or comments to him via: bob@workingwounded.com.
ABCNEWS.com publishes a new Working Wounded column every Friday. This work is the opinion of the columnist and in no way reflects the opinion of ABC News.
Jan. 11, 2008
Font Size
Share
Dear WOUNDED: Our company does a crummy job of strategic planning. I was invited to participate in the process this year, what can I do to help us actually accomplish something?
ANSWER: Have you ever woken up during a road trip only to find your surroundings looking very similar to the scenery you passed hours ago? I once was driving with a friend to Florida and woke up to discover that my driving buddy had made a wrong turn and we had spent hours driving in the wrong direction. When I pointed out we were driving in the wrong direction he said, "At least we made great time."
Story
RSS Feed: Send ABC Business News to Your Computer
Sound similar to the last strategic planning session that you were involved with? You made progress, but much of it in the wrong direction? Or maybe you've just always wanted to be part of the decision-making process for your company. I've listed three do's and one don't to help you exert the maximum influence over the direction that your company takes in the future. For more, check out Erica Olson's book, "Strategic Planning for Dummies" (Wiley, 2007).
DO Ask tough questions. One way to ensure that your strategic plan is pointed in the correct direction is to ask tough questions. What would happen if we lost our biggest customer? What if a new competitor entered our market? What could we do if the bottom dropped out of our industry?
Start by taking off your rose-colored glassed and challenging every assumption out there about your industry, customers and business. Avoid the temptation to just mimick what others in your industry are doing, and instead tailor your plan to your company's specific strengths and weaknesses.
DO Look for leverage. Most of us focus on the "planning" part of strategic planning at the expense of the "strategic" part. What is unique about your company? What do your customers like about working with you? What don't they like about working with you? The overused phrase here is "competitive advantage." What do you do better than anyone else in the market and how can you leverage that? Or what are you doing that you shouldn't be doing?
DO Get everyone involved. Many organizations restrict participation in planning to the corner office crowd. Unfortunately, many of the breakthrough ideas come from the front lines, from the people actually interacting with customers and suppliers. Look for ways to get all the stakeholders involved in the process -- focus groups, surveys, town hall-style meetings. I'm not suggestion chaos, but come up with a process that includes a wide range of perspectives and opinions.
DON'T Seek to control the process.Corporations hate surprises. Strategic planning processes should be full of surprises, because they are looking into the future. Be careful to not stifle brainstorming or dissent. The more reality that gets into the process, the better your company will be positioned to handle the reality it faces in the future.
Follow these tips and your planning process will make great progress, in the correct direction.
Thought for the Week
"Plans are nothing, planning is everything." -- President Dwight Eisenhower
Full Coverage
Business News Every Morning: Sign Up for MONEYScope Daily E-Mail Now
List of the Week
Wacky work … Best workplace stories from last year
# A move by South Korea's Hana Bank to send single female employees on blind dates to boost morale.
# An architecture firm in Barcelona's plans to build a $4 million-per-night hotel on the moon by 2012. It acknowledged the challenges zero gravity poses to bathroom builders.
# Delinquent policemen in Thailand being punished by having to wear Hello Kitty armbands.
# Millbrook, Alabama's full-day shutdown of city hall so employees could visit the new Wal-Mart. They had to bring a receipt back as proof of purchase.
# The firing of an Iowa woman for keeping a diary of how she avoids work.
From: Challenger, Gray & Christmas
Bob Rosner is a best-selling author, speaker and internationally syndicated columnist. He'd love to hear your thoughts on this topic, especially if you have better ideas than he does. His books include "The Boss's Survival Guide" and "Gray Matters: The Work place Survival Guide." Send your questions or comments to him via: bob@workingwounded.com.
ABCNEWS.com publishes a new Working Wounded column every Friday. This work is the opinion of the columnist and in no way reflects the opinion of ABC News.
Your 2008 plan for success
anuary 11, 2008 3:28:58 AM PST
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It's a new year, and 2008 can be the best year ever for you and your business. How? Develop an annual business plan. If you're like me, you've got big hopes for your business in 2008. If you want to make those happen, you've got to have a plan.
Related Stories
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Yes, I know- that's not sexy. It's not as exciting as going to a motivational seminar with some wanna-be business guru and purchasing a set of their incredibly expensive motivational CDs.
But while business planning isn't seemingly exciting, it is very effective. You can substantially increase your sales this year with just some simple planning. And making more money is sexy.
It's worked for me. Last year, 2007, was my company's best ever, even though we had incredible challenges. We thrived because of decisions we'd made at previous annual business plan sessions.
Developing an annual plan saves you money as well as makes you money. It helps you decide on how to focus your marketing and development efforts, so you don't waste your precious cash.
Your annual business planning process can be fairly formal, like the one we do in my business, where we set aside a couple of days for planning meetings. But hey, I wrote the book on business plans, so I've got to do the whole shebang.
You can keep it much simpler. Just set aside a few hours or a day for planning. Include your key personnel. Get away from the office or store, and especially the phones.
Here's how to develop your 2008 annual plan:
• Look at the past. Before going in new directions, evaluate what worked and what hasn't. In particular, identify which activities have been the most successful in terms of profit not just income.
• List your goals. Begin by listing all your goals — how much money you want to make, products or services you want to add, changes in work patterns or operations.
• Get specific. Now put details with each goal, especially numbers. Let's say one of your goals is to increase sales. Don't just say you'd like to double your income. Instead, list each product or service you offer, and set a goal of a specific number of customers and income for each.
Develop steps. Identify the steps necessary to achieve each specific goal. For instance, to attract more customers, you'll need to increase marketing. List the ways you'll do this: advertising, trade shows, direct mail, etc.
Related Stories
*
With No Office, Freelancers Build a Community
Top Money stories
*
Subprime Fallout: Citi May Write Down $24B
*
Gold Hits Record Above $900
*
Ford, Chrysler Introduce New Pickups
• Estimate money. Put a dollar figure next to each step. The more specific you've been with each step, the easier it will be to come up with a range of costs for every goal.
• Estimate time. Things don't just take money; they take time. Next to each step, estimate how much time it might take. For instance, writing a newspaper ad may only take two hours, exhibiting at a trade show might require five days.
• Estimate people. Figure out who will be responsible for each step and how many people are needed. This gives you an overall sense of the total "person-hours" necessary to achieve your goals.
• Prioritize. By now, you've got a list that would take much more money, more time, and more people than you have. So, prioritize your goals and steps. Rate highly the things you must do to survive. Next, choose those activities with the highest chance of success. Don't try to do everything; it's better to eliminate some goals altogether rather than attempting all partway.
• Write an action plan. Based on your priorities, come up with an action plan. Schedule the month, week or day you're going to take action on each step and what that action will be.
• Reality check. Look over your action plan. Does it fit with how you and your employees truly behave? If you plan seems overly ambitious, it probably is. Go back and re-prioritize.
• Get consensus. Discuss the plan with all affected parties (employees, subcontractors, family members). Are they willing to commit to it?
Once you've developed your annual plan, you're on your way to achieving your goals and being a success in 2008.
Rhonda Abrams is president of The Planning Shop, publisher of books for entrepreneurs. Their newest is Finding an Angel Investor In A Day. Register for Rhonda's free business planning newsletter at www.PlanningShop.com. For an index of her columns, click here. Copyright Rhonda Abrams 2007.
Font Size
Share
It's a new year, and 2008 can be the best year ever for you and your business. How? Develop an annual business plan. If you're like me, you've got big hopes for your business in 2008. If you want to make those happen, you've got to have a plan.
Related Stories
*
With No Office, Freelancers Build a Community
Top Money stories
*
Subprime Fallout: Citi May Write Down $24B
*
Gold Hits Record Above $900
*
Ford, Chrysler Introduce New Pickups
Yes, I know- that's not sexy. It's not as exciting as going to a motivational seminar with some wanna-be business guru and purchasing a set of their incredibly expensive motivational CDs.
But while business planning isn't seemingly exciting, it is very effective. You can substantially increase your sales this year with just some simple planning. And making more money is sexy.
It's worked for me. Last year, 2007, was my company's best ever, even though we had incredible challenges. We thrived because of decisions we'd made at previous annual business plan sessions.
Developing an annual plan saves you money as well as makes you money. It helps you decide on how to focus your marketing and development efforts, so you don't waste your precious cash.
Your annual business planning process can be fairly formal, like the one we do in my business, where we set aside a couple of days for planning meetings. But hey, I wrote the book on business plans, so I've got to do the whole shebang.
You can keep it much simpler. Just set aside a few hours or a day for planning. Include your key personnel. Get away from the office or store, and especially the phones.
Here's how to develop your 2008 annual plan:
• Look at the past. Before going in new directions, evaluate what worked and what hasn't. In particular, identify which activities have been the most successful in terms of profit not just income.
• List your goals. Begin by listing all your goals — how much money you want to make, products or services you want to add, changes in work patterns or operations.
• Get specific. Now put details with each goal, especially numbers. Let's say one of your goals is to increase sales. Don't just say you'd like to double your income. Instead, list each product or service you offer, and set a goal of a specific number of customers and income for each.
Develop steps. Identify the steps necessary to achieve each specific goal. For instance, to attract more customers, you'll need to increase marketing. List the ways you'll do this: advertising, trade shows, direct mail, etc.
Related Stories
*
With No Office, Freelancers Build a Community
Top Money stories
*
Subprime Fallout: Citi May Write Down $24B
*
Gold Hits Record Above $900
*
Ford, Chrysler Introduce New Pickups
• Estimate money. Put a dollar figure next to each step. The more specific you've been with each step, the easier it will be to come up with a range of costs for every goal.
• Estimate time. Things don't just take money; they take time. Next to each step, estimate how much time it might take. For instance, writing a newspaper ad may only take two hours, exhibiting at a trade show might require five days.
• Estimate people. Figure out who will be responsible for each step and how many people are needed. This gives you an overall sense of the total "person-hours" necessary to achieve your goals.
• Prioritize. By now, you've got a list that would take much more money, more time, and more people than you have. So, prioritize your goals and steps. Rate highly the things you must do to survive. Next, choose those activities with the highest chance of success. Don't try to do everything; it's better to eliminate some goals altogether rather than attempting all partway.
• Write an action plan. Based on your priorities, come up with an action plan. Schedule the month, week or day you're going to take action on each step and what that action will be.
• Reality check. Look over your action plan. Does it fit with how you and your employees truly behave? If you plan seems overly ambitious, it probably is. Go back and re-prioritize.
• Get consensus. Discuss the plan with all affected parties (employees, subcontractors, family members). Are they willing to commit to it?
Once you've developed your annual plan, you're on your way to achieving your goals and being a success in 2008.
Rhonda Abrams is president of The Planning Shop, publisher of books for entrepreneurs. Their newest is Finding an Angel Investor In A Day. Register for Rhonda's free business planning newsletter at www.PlanningShop.com. For an index of her columns, click here. Copyright Rhonda Abrams 2007.
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