“Strategic planning is worthless, unless there is first a strategic vision”

John Naisbitt

Strategic planning creates a common understanding of what an organisation wants to achieve and what it needs to do to achieve it.

The key elements of a strategic plan will include:

The organizations vision, which articulates where the organization wants to be and the mission, which is how it will achieve it. The plan links the two and needs to agile and adaptive enough to respond if the context changes during the execution.

To build a successful plan leadership should scope for trends and disruptions and assess their impact on the organization’s goals.

Poor plans can lead to poor execution. A rigorous strategic planning design effectively translates the strategy into plans that can be executed and implemented.

Let’s look at some examples where you can be strategic and plan accordingly within your business.

• Launching a new product to attract a broader customer base or perhaps expansion into new geographical territories or markets.
• Streamlining internal processes to reduce operational costs, or investing in technology to improve efficiency
• Implementing a Customer Relationship Management system to provide personalised services to customers
• Implementing a training and development program for employees and fostering a positive workplace culture to attract and retain skilled people

Identifying potential acquisition targets through market

• analysis and condusting due diligence to assess compatibility and risk.

Strategic planning is a systematic process that empowers an organization to realize its goals and objectives. This multifaceted approach intertwines thorough analysis, decisive decision-making, and judicious resource allocation, strategically positioning the organization for sustained success in the future.

Thank you for reading my latest article. Feel free to reach out if you would like to help in achieving your goals and objectives.

Nada@magnusbusinessacademy.com

www.magnusbusinessbuilder.com

 

https://www.linkedin.com/pulse/strategic-planning-worthless-unless-first-vision-nada-jamal-tidbc

That starts with having a solid foundation, which will withstand the environmental forces. It starts with your purpose? Why do you do what you do. Why did you start your own business?

Be clear with your goals – What do they look like, what day, month, year will you achieve them? How will you feel? How will you celebrate. As with a building, it does not just appear out of now nowhere.

It needs to be designed with detailed drawings–how many of floors, doors, and windows will it have? What materials will be used, right down to the location of the power ports, and the list goes on. Are your goals written down and mapped out where you can see and track them daily?  The clearer you are with you goals the more likely you are to achieve them.

How committed are you to your goals, do they align with your why. They must be your goals and no one else’s. When we commit, obstacles can be overcome, and solutions are easier to come by

Surround yourself with people that will lift your energy levels, people that want you to succeed in your personal and professional life. Unfortunately, sometimes those people are family.

As with erecting a building, who will you enlist to help you build it? You have this vision which you have committed to, who will you trust to help you realise it. Will you look to the doubters, the people who constantly create obstacles, which lead to lengthy delays in you achieving your goals.

Buildings need regular maintenance, if they not maintained, they fall into disrepair and when that happens. Overtime, existing tenants will complain, and any new tenants will refuse to pay rental premiums and go elsewhere.

 Focus on your strengths – write them down and keep them where you can see them every day.

Use forward moving words – like Can instead of Can’t. Think about the words that you tell yourself.

Try Reframing – its simply shifting an unresourceful thought or sentence into a resourceful one.

Challenge yourself, do something different and learn something new, this helps to build your confidence and resilience.

A healthy and successful mindset is a constant work in progress, it requires ongoing maintenance.

https://www.linkedin.com/pulse/foundations-business-success-start-you-nada-jamal-rcksc

Strategy and tactics are at times confusing as they go hand-in hand. Having one without the other is counterproductive. A strategy is an overarching goal, vision or direction a business is looking to take. Whilst tactics are the daily, weekly and monthly actions that a business will use to achieve their goals.

For every strategy, there can be many tactics. Here are examples of some of them.

The Strategy

To focus on building strong relationships with customers by understanding their needs and providing excellent customer service and staying in regular contact to maintain the relationship.

The tactics would be based on the form of communication that you use, is it via email, telephone, face-to-face, in person. The frequency and language.

• Active Listening: Train your customer service team to actively listen to customers during interactions. Encourage them to ask open-ended questions to understand the customer’s needs and preferences better.
• Customer Surveys and Feedback: Regularly solicit feedback from customers through surveys or feedback forms. Analyse the data to identify areas for improvement and address any concerns promptly.
• Personalization: Use customer data to personalize your interactions. Address customers by their names, recommend products or services based on their past purchases, and tailor your communication to their preferences.
• Timely Responses: Respond to customer inquiries and issues promptly. Establish clear response time goals and meet or exceed them consistently.
• Social Media Engagement: Engage with customers on social media platforms by responding to comments, messages, and mentions. Address both positive and negative feedback publicly to demonstrate your dedication to customer satisfaction.

 

The Strategy

Leverage social media platforms, such as LinkedIn, Facebook, Instagram etc. To build brand awareness, engage with potential customers and promote your products and services.

The Tactics will depend on your content. Will you using storytelling to connect with potential customers or to illustrate how your products or services have helped other customers? Will your content be educational to build credibility? Will you use testimonials? What Images will you use, if any? How often will you post.

These tactics would vary based on the platform.

• Optimize Your Company Page: Create a professional and compelling LinkedIn company page. Use high-quality images, a clear description of your business, and relevant keywords to help users find your page.
• Publish Engaging Content: Share informative and valuable content related to your industry, products, and services. Focus on thought leadership and providing solutions to common problems your target audience faces.
• Participate in Groups: Join LinkedIn groups relevant to your niche and actively participate in discussions. Be helpful, offer insights, and avoid overtly promoting your products to build credibility.
• Engage with Your Audience: Respond promptly to comments, messages, and reviews. Encourage discussions and user-generated content to foster a sense of community around your brand.

The Strategy

To expand your product or service offerings, to meet the evolving needs of your customers. This can help to differentiate your business and provide additional value to customers.

Your tactics would be based on how you market and promote these to your customers

• Email campaigns: Create targeted email campaigns to announce your new offerings, offer special deals, and keep your audience informed about updates.
• Organize webinars or live demos: Showcase your new products or services in action. Interact with the audience, answer questions, and address their concerns directly.
• Encourage customers to try out your new offerings: Provide limited-time discounts or exclusive deals to early adopters.
• Invest in high-quality images and videos: To showcase your new products or services. Visual content is more engaging and memorable than plain text.

https://www.linkedin.com/pulse/strategic-v-tactical-planning-nada-jamal

Running and growing a successful business requires dedication, determination, commitment, and effort. It also requires having a growth mindset. What is a growth mind-set and how do you achieve it? I am sure you have heard this term used before. A growth mind-set is having vision, a vision for where you want your business to be in the future and working towards achieving it.

What is your vision? You may want to sell or create a legacy business, you may want to be the number 1 in your industry in your region, country or even the world.

Once you have worked out your vision, you want to then work out how to get there. This is where strategic planning comes in.

Your Strategic Plan will include your current situation, your strategic objective – what you want to achieve and how you will get there. I find the optimum length for a plan is 18-months or 3 years. Some businesses have a 5-year plan. This is too long. Covid-19 and its effects have shown us, how unpredictable our world can be. Having a plan does not guarantee success, ideally you want to review your plan every 6 months. Remember it is a working document.

Implementation is just as important as planning; this is where I find, most plans fail. No matter how great your plan is, it needs to be implemented correctly. Before implementing your plan, you will need to work out what resources are needed, assign tasks and projects to your team, develop a schedule. Running regular me

eting updates will help you to keep track and allow you to make the necessary changes as required.

Systemization of your business will enable efficiencies and allow you to focus on growing your business rather than working in it. That is the whole objective, isn’t it?

Processes and procedures will not only create efficiencies, but they will also ensure that your business is compliant and transparent. Having processes in place for the operational aspects of your business, reduces risk. Other benefits include consistency, repeatability, and transferability. These last three benefits lead to a positive impact your team. I will elaborate further, by having processes in place, your staff know how to perform certain tasks and any new people that you hire will also know what the what, where and how and help them in the initial onboarding phase.

 People are the most critical component of business success. They are now more important than ever. Every business is experiencing a shortage in skilled people. Having a Workforce Plan is now more important than ever. A workforce plan that includes attracting, recruiting, onboarding, engaging, managing performance, staff development and letting go staff members. Also crucial to this is, work culture. Culture starts at the top; it starts with you. What type of culture do you have? Are you happy with it? Can it be improved or changed? The answer is, yes, you can change it. Which leads us to leadership.

Leadership can be developed. I find as a Business Owner, it can be lonely, we are expected to know everything, we are good at giving feedback. Who is there to give us feedback on our performance? I would recommend developing a questionnaire for your staff to provide their feedback on your leadership. This will not only help you to find out how you are perceived by them, but will also enhance work culture and communication

Finance, without money there is no business. Many businesses go broke, not because they do not have an excellent product, staff, or all of what I just covered, but because of poor financial management. Keeping on top of cash lows, knowing what your pricing is and break-even point. Keeping records of all incomings and outgoings. If finance is not your strong point, having a bookkeeper help you with your books and an astute Accountant to provide tax and other financial advice.

 

https://www.linkedin.com/pulse/yes-you-can-run-grow-successful-business-nada-jamal-1c

It will help you to understand customer needs, interact with them across multiple channels, and provide self-service options. Using data analytics to gain insights into customer behavior and preferences for targeted marketing and personalized offerings. Which in turn leads to an enhanced customer experience

It streamlines and automates business processes, reducing manual effort, errors, and costs. Identifying areas where technology can optimize workflows, increase productivity, and eliminate bottlenecks. Can improve operational efficiencies.  By Utilizing tools such as cloud computing, workflow automation, and collaboration platforms to enhance efficiency and enable remote work.

Technologies provide access to vast amounts of data. The use of data analytics tools and techniques will enable you gather insights, identify patterns, and make informed decisions. Leverage business intelligence solutions to track key performance indicators (KPIs), measure outcomes, and identify opportunities for optimization and growth.

It offers scalability, enabling businesses to expand operations without significant infrastructure investments. Leverage cloud computing, virtualization, and software-as-a-service (SaaS) solutions to scale your business rapidly and flexibly. Explore digital channels and e-commerce to reach new markets and customer segments.

Embracing digital transformation can give your business a competitive edge. Leverage emerging technologies such as artificial intelligence, machine learning, Internet of Things (IoT), and automation to innovate products, services, and business processes.  Adopt technology solutions that align with your strategic goals and staying updated on industry trends can give your business a competitive advantage.

Customer data security and privacy are now more critical than ever, implementing cybersecurity measures and adhering to data protection regulations are paramount. Transparent communication with customers about data practices will build trust.

Digital technology continues to evolve and change, at times at a rapid pace, it requires continuous learning and adaptation. Businesses are required to stay updated on emerging technologies, market trends, and customer expectations. Investing in employee training and development to ensure they have the skills needed to leverage digital technologies effectively. Foster a culture of continuous learning, experimentation, and adaptation to stay ahead of the curve.

Digital transformation is an ongoing journey, not solely about implementing technology but also about reimagining processes, people, and customer experiences. Align digital initiatives with your overall business strategy, involve stakeholders from various levels, and communicate the benefits and goals of digital transformation throughout the organization. Continuously assess and adjust your digital roadmap to meet evolving business needs and customer

How you can create a Unique Selling Proposition

Creating a Market Dominating position

You might be unique, but it won’t matter to your prospects unless it’s a hot-button issue for them. A Market Dominating Position is basically a USP (Unique Selling Proposition) or distinctive advantage targeting the hot buttons of your market. This is the foundational element of marketing.

1. What benefit(s) do you offer to your target market that separates you from all of your competitors?
2. Are those benefits based on the “hot buttons” of your prospects – the problem they have and don’t want and the result they want but don’t have?
3. If I were to walk through your business and ask your employees what your Market Dominating Position or USP is, to what degree would I get the same answer?
4. If we could articulate your unique benefit in a single sentence and have you and your staff use it when speaking with prospects, by what percent would that impact your business?

So now ask yourself what, if anything, makes your business different from your competitors as perceived by your targeted prospects and customers? For the vast majority of businesses that answer is price

The key to adding value is determining what your customers and target market perceive as valuable. You must understand their needs, wants, troubles and inconveniences in order to entice them with solutions through added value products or services. Adding value will also add to your profits, but if you don’t focus on genuinely helping your clients you’ll have a difficult time attracting them.

CREATING A MARKET DOMINATING POSITION INVOLVES A FIVE STEP PROCESS. Step number one, determine your strategic position in the market.

What specific niche market or segment of the marketplace should your business focus on? Determining this involves combining the skills your business has with the unmet needs of your targeted prospects and then designing your product or service to fulfill those needs.

Step number two, determine your primary market dominating position. This is the most dominating advantage that separates you from your competitors

Step number three, determine your supporting business model. How will you specifically deliver what your strategic position and primary market dominating position promises? What changes, if any do you need to consider making to your business to ensure you deliver consistently on your position and your promise?

Step number four, determine your secondary market dominating position. What additional competitive advantages does your business offer that your customers will perceive as being different from your competition? Domino’s secondary benefits might include special pricing, assorted sizes, a much broader selection of toppings or additional menu items.

Step number five, create your market dominating position statement or elevator pitch. This is a simple statement you can create by combining steps one through four. This helps you to state unequivocally what differentiates you from your competitors to your targeted prospects and customers.

The Secrets to Successful Goal Achievement

Goals focus your energy and intentions and direct your motivation in a productive direction. Goals outline a plan of action, while dreams are conceptual visions.

Your goals are the milestones you will reach along the way to achieving your vision. They break down the process into smaller pieces, the little successes en route to the big success story.

Studies have shown that only three to five percent of people in the world have written goals – the same three to five percent who have achieved success in business and earn considerable wealth.

Setting strong goals and committing them to paper is the most effective way to achieve success. Goals will focus your time, energy and the outcomes that are the highest priority at a time. When you prioritize and concentrate your efforts, you avoid being stretched too thin, and produce greater results.

One of the biggest challenges we face when we want to change something in our lives whether its personal or business related, is that we may be clear on what we DON’T want……but not have much of an idea of what we DO want!

Our brains are efficient goal achieving machines. With the right information, our unconscious can help us achieve new heights that we can barely imagine. But without this information, we just stay cycling around and around, stuck in what we “know” – our comfort zone. For many people a lack of skill in building a strong meaningful detailed picture of what they DO want is the biggest barrier to achieving their dreams.

Let’s be clear – so often the problem is not that we: can’t” take the necessary steps to get what we want – it’s that we don’t know which steps to take because we don’t know where we are going.

Most people stop at the dreaming stage and then think that the rest will take care of itself. The bottom line is that without action, nothing changes. And without being specific, how on earth can you ever take action? The more specific the action the better. If you can define the first step then, then you will be able to take it.

Steps to successful goal setting

Dream Big – Act today

As you embark on the process of goal setting, to ask yourself the following:

Clarity – be crystal clear, use your imagination to paint your ideal picture.

What do your goals look like? How will you feel when you achieve them? How will you celebrate?

When do you want to achieve them? What day, month year?

Be detailed – An example of this is the following: Imagine travelling overseas and having the full itinerary of your trip, which includes the airline, time, date, the accommodation, the restaurants you’ll be dining at and all the daily activities. The items you will pack, and the list goes on.

Be realistic, are they achievable? Can you achieve them? If your goal is to be an astronaut and you have no interest in science or maths. How will you achieve this?

Challenge yourself – if the goal is too easy, how satisfied will you be? Achieving challenging tasks and activities builds confidence and resilience.

Do they align with your WHY? If they don’t then the chances of success are slim.

Are they your goals? They must be yours; this isn’t about pleasing others. This is about following your own dreams and passions. It’s about doing what you love and want.

How committed are you? When you commit, obstacles can be overcome, and solutions are easier to come by.

Write them down and have them mapped out, include the activities, tasks, and the resources you will need to help you achieve them. Include things like any new skills you would need to learn, the people who will help you, education and courses you would need to undertake. There are many Goal Setting templates online.

A good goal setting template should include:

• Short-term goals (less than 1 year)
• Medium -term goals (1-5 years)
• Long-term goals (more than 5 years)

Or you can create your own. Whatever template you use, I do suggest writing them down. Writing them down is your first action step.

Once you’ve completed and committed to your goals, create a Monthly Action Planner. This should include the daily tasks and activities that will enable you to move towards achieving your goals. It’s the little steps that will lead to big gains.

Keep them where you can see and track their progress daily.

Another critical factor in achieving your goals is – Mindset.

Developing and maintaining a healthy and successful mindset is an ongoing work-in-progress. How can you effectively manage the setbacks and challenges along your journey towards your goals because they will occur? Here are some ways in which you can do that.

• Surround yourself with people that will lift your energy levels. People that want you to succeed in your personal and professional life.
• Focus on your strengths – write them down and keep them where you can refer to them every day.
• Use forward moving words – like CAN instead of CAN’T. Think about the words that you tell yourself.
• Try reframing – it’s simply shifting an un-resourceful thought or sentence into a more resourceful one.

Here’s to your success!

1. Newsletters build trust.
   A consistent newsletter that features useful information or expert advice will boost credibility, and encourage trust. Newsletters also allow your reader to get to know you and your company, which creates stronger relationships and increases loyalty.
2. Newsletters educate customers.
   Successful newsletters often ‘tell’ more than they ‘sell’. They provide an opportunity to educate customers on the full range of products or services you offer, as well as on any relevant changes, additions and developments in your business.
3. Newsletters promote your offering.
   Obviously, a newsletter will promote what you have to sell. Whether this is a single product of the week, or an entirely new product line, the newsletter will arrive directly in the customer’s inbox and describe what’s in it for them.
4. Newsletters maintain awareness.
   When you use newsletters to keep in touch with your customers, you increase the number of times they are exposed to your brand, which boosts awareness and advertising recognition.
5. Newsletters build community.
   Regular newsletters that feature useful information and community events create a community of people with a common interest: your knowledge, expertise, and offering.

You and probably everyone else you know are part of a customer loyalty program. Just look at your key ring, or in your wallet, and you’ll probably find a bunch of cards for a variety of businesses. It is estimated that at least 75% of consumers have at least a single loyalty card, and that those with more than two comprise a third of the population. Loyalty programs have been around for decades, and many businesses have some form of simple strategy, if not a more elaborate one.

While you may fear that a loyalty program is too expensive or complicated, there are a host of really simply strategies that can have just as much impact for a fraction of the financial investment.

With this in mind, you need to make sure that your program is structured around your customer and what they believe is valuable. Otherwise, the reward or incentive won’t be enough to motivate your client to return.

Keep in mind that customer loyalty programs also allow you to track and monitor your customer’s purchasing habits, and even gain further demographic information through a detailed sign-up form. Your loyalty program could serve as a vital component of your ongoing marketing research.

I want to note that customer loyalty programs don’t work for every business – to imply so would be misleading. If you sell high priced items, chances are that customer isn’t going to be coming back to buy from you every month. In that case, you may be better served by an incentive-based referral strategy to gain more business from your customer’s friends and family network. This will still maximize your customer acquisition investment.

You want to create a program that works for your business, costs very little, and is nearly effortless to maintain.

When it comes to marketing and generating more revenue, I find that most business owners are focused outward.

They’ve carefully established and segmented their target market, and created specific offers and messages for each market segment. They spend thousands of dollars in advertising and direct mail campaigns in hot pursuit of more leads, more customers, and more foot traffic.

A repeat business strategy means focusing inward – on the customers you have already converted. You’ve paid to acquire their business, so it’s worth a little extra effort to maximize that investment and get that customer to come back and purchase again.

Generating more repeat business means focusing on the marketing strategies that aim to keep your existing customers instead of purchase new ones – effectively reducing the cost of attracting new customers to your business by spreading it over multiple transactions.

Repeat customers create a community of people around your business that presumably share the same needs, desires and frustrations. The information you gain from these customers (market research) can help you strengthen your understanding of your target audience, and more accurately segment it.

Remember – 80% of your revenue comes from 20% of your customers. Always focus on these customers. They are ideal customers that you want to recruit, and hold on to.

Cultivating repeat business is a smart move because you’re leveraging time and money that you’ve already spent.