Strategic planning for small business

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When you are a small business owner, it's easy to get caught up in doing the work. This presentation shows you how to take a step back and think about what work you want to do and how you want to go about it. (Given as a webinar to the STC CIC SIG
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  • 1. Strategic Planning for Small Business KATHERINE (KIT) BROWN-HOEKSTRA
  • 2. Introductions 26 March 2014Copyright © 2014 Comgenesis, LLC 2 Pangaea Papers blog
  • 3. 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? 26 March 2014Copyright © 2014 Comgenesis, LLC 3
  • 4. Agenda  Finding the trailhead  Identifying your tools and supplies  Starting the Journey  Avoiding hazards  Celebrating your arrival 26 March 2014Copyright © 2014 Comgenesis, LLC 4
  • 5. 26 March 2014Copyright © 2014 Comgenesis, LLC 5Finding the Trailhead
  • 6. 26 March 2014Copyright © 2014 Comgenesis, LLC 6Strategic Planning Model
  • 7. 26 March 2014Copyright © 2014 Comgenesis, LLC 7 What Kind of Person Are You?  Know Yourself  Strengths  Weakness  Passions  Values  Know Your Circumstances  Finances  Lifestyle  Time Challenges
  • 8. 26 March 2014Copyright © 2014 Comgenesis, LLC 8 Got Skills?  Management  Technical  Administrative  Accounting  Sales
  • 9. 26 March 2014Copyright © 2014 Comgenesis, LLC 9 Image: taoty / FreeDigitalPhotos.net Analyze Where You Are
  • 10. 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 26 March 2014Copyright © 2014 Comgenesis, LLC 10
  • 11. 26 March 2014Copyright © 2014 Comgenesis, LLC 11
  • 12. SWOT Analysis 26 March 2014 Copyright © 2014 Comgenesis, LLC 12 Strengths Weaknesses Opportunities Threats
  • 13. Identifying Tools & Supplies 26 March 2014 Copyright © 2014 Comgenesis, LLC 13
  • 14. 26 March 2014Copyright © 2014 Comgenesis, LLC 14 Picking your Team  Lawyer  Accountant  Banker  Financial planner  Insurance agent  Real estate agent?  Mentors
  • 15. 26 March 2014Copyright © 2014 Comgenesis, LLC 15Plan Your Route http://www.trailinfo.co.za/hiking/klipkraal/maps.html
  • 16. Starting the Journey 26 March 2014Copyright © 2014 Comgenesis, LLC 16
  • 17. 26 March 2014Copyright © 2014 Comgenesis, LLC 17 Keep Visualizing Wilderness Guide Mary Murphy on Appalachian Trail http://bit.ly/GA1LIH
  • 18. 26 March 2014 Copyright © 2014 Comgenesis, LLC 18 Close the Gap
  • 19. 26 March 2014 Copyright © 2014 Comgenesis, LLC 19 Measure Your Progress Credit: ED YOUNG/SCIENCE PHOTO LIBRARY
  • 20. 26 March 2014 Copyright © 2014 Comgenesis, LLC 20 Houston We Have a Problem  Financial  Project Management  Personnel  Legal  Burnout
  • 21. 26 March 2014 Copyright © 2014 Comgenesis, LLC 21 Financial  Cash flow  Client payment  Vendor payment  Taxes
  • 22. 26 March 2014 Copyright © 2014 Comgenesis, LLC 22 Project 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
  • 23. 26 March 2014 Copyright © 2014 Comgenesis, LLC 23 Personnel  W2 or 1099?  Hiring/firing  Training  Harassment  Managing with clients
  • 24. 26 March 2014 Copyright © 2014 Comgenesis, LLC 24 Legal  Contractual  Liability  Workers comp
  • 25. 26 March 2014Copyright © 2014 Comgenesis, LLC 25 Burn 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/
  • 26. 26 March 2014Copyright © 2014 Comgenesis, LLC 26 Saving 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
  • 27. Questions?
  • 28. 26 March 2014 Copyright © 2014 Comgenesis, LLC 28 Small 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/)
  • 29. 26 March 2014 Copyright © 2014 Comgenesis, LLC 29 Resources (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)
  • 30. 26 March 2014 Copyright © 2014 Comgenesis, LLC 30 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
  • 31. 26 March 2014 Copyright © 2014 Comgenesis, LLC 31 Contact Info Kit Brown-Hoekstra +1 720.542.3075 Kit.brown@comgenesis.com www.comgenesis.com www.pangaeapapers.com @kitcomgenesis
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