strategic planning for small business

Strategic Planning for Small Business

KATHERINE (KIT) BROWN-HOEKSTRA

Introductions

26 March 2014Copyright © 2014 Comgenesis, LLC

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Pangaea Papers blog

About You

How many years have you been in business?

What type of business do you have?

What’s your vision?

What’s one thing you want to take away from today?


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Agenda

Finding the trailhead

Identifying your tools and supplies

Starting the Journey

Avoiding hazards

Celebrating your arrival


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5Finding the Trailhead


6Strategic Planning Model


7What Kind of Person Are You?

Know Yourself Strengths Weakness Passions Values

Know Your Circumstances Finances Lifestyle Time Challenges


8Got Skills?

Management

Technical

Administrative

Accounting

Sales


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Image: taoty / FreeDigitalPhotos.net

Analyze Where You Are

Purpose of Analysis

Highlights true focus and vision Provides context Builds awareness and buy-in Builds a trail guide Identifies areas that need

additional resources/pain points

Allows you to plan globally and act locally

Identifies priorities


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SWOT Analysis


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Strengths

Weaknesses

OpportunitiesThreats

Identifying Tools & Supplies


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14Picking your Team

Lawyer

Accountant

Banker

Financial planner

Insurance agent

Real estate agent?

Mentors


15Plan Your Route

http://www.trailinfo.co.za/hiking/klipkraal/maps.html

Starting the Journey


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17Keep Visualizing

Wilderness Guide Mary Murphy on Appalachian Trail http://bit.ly/GA1LIH


18Close the Gap


19Measure Your Progress

Credit: ED YOUNG/SCIENCE PHOTO LIBRARY


20Houston We Have a Problem

Financial

Project Management

Personnel

Legal

Burnout


21Financial

Cash flow

Client payment

Vendor payment

Taxes


22Project Management

IT

Juggling multiple priorities

Slipping schedules

Bad clients

Paperwork

Knowing which projects to take

http://www.dem.ri.gov/programs/director/emerresp/pictures/chemical_fires/slides/cf13.html


23Personnel

W2 or 1099?

Hiring/firing

Training

Harassment

Managing with clients


24Legal

Contractual

Liability

Workers comp


25Burn Out

Working 24/7

Trying to do to much

Not saying NO

Needing new challenges

Needing a vacation/sabbatical

Fretting over finances

http://inhabitat.com/why-global-warming-is-not-the-biggest-reason-forest-fires-are-so-rampant-now/


26Saving Your Own Bacon

Use your team Ask advice Plan Perform regular risk assessment Schedule yourself in “Sharpen the saw” Regularly re-evaluate Say NO Take a vacation and leave your work behind

Questions?


28Small Business Resources

Organizations: SBA (www.sba.gov) NAWBO (www.nawboboise.org) SCORE (www.score.org/) Chamber of Commerce (www.boisechamber.org/) STC CIC SIG (www.stcsig.org/cic/)


29Resources (continued)

Publications BusinessWeek (www.businessweek.com/) Inc (www.inc.com/welcome.html) FastCompany (www.fastcompany.com) Wall Street Journal Fortune Escape from Cubicle Nation

(www.escapefromcubiclenation.com) Duct Tape Marketing (www.ducttapemarketing.com)


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Resources (continued)

Books Body of Work

Now, Discover Your Strengths

Standout

Consulting for Dummies

Finding Your Own North Star

7 Habits

Do What You Are


31Contact Info

Kit Brown-Hoekstra

+1 720.542.3075

[email protected]

www.comgenesis.com

www.pangaeapapers.com

@kitcomgenesis