Sweet Business Barometer

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Information about Sweet Business Barometer
Business & Mgmt

Published on March 12, 2014

Author: WillNoble

Source: slideshare.net


The Sweet Business Barometer is a simple tool you can use when you decide it's time to get strategic. The audit, unique to Sweet, rates your readiness in 17 critical areas across your business, and gives you a simple to understand barometer report to highlight where work is needed.

Business Barometer ! Prepared for John Appleseed, Sample Co. ! ! ! ! ! [Customer Logo] ! ! ! ! ! ! ! ! ! ! ! ! ! ! Prepared by: Will Noble Date: [DD Month YYYY] Commercial in Confidence © Copyright 2006-2014 Sweet Business

Discovery Planning Execution Measurement Business
 Planning Sales
 Enablement Sweet
 Counsel Net
 Score Market Intelligence ! Special Ops ! Project Management ! Representation Sweet Business Introduction ! The Sweet Business Barometer is a discovery tool employed to benchmark your business, highlight the areas where you need to focus most effort, and contextualise any potential Consulting and Services requirements. The dashboard informs your growth journey, not least by providing the yard-stick against which your progress will be measured. ! Growth Modules ! Discovery - Business Analysis of the "As-is" and "To-be" situation Planning - Formulating a strategy to deliver the agreed transformation Execution - Services, tactics and enablement to deliver and manage the
 change defined in the strategy Measurement - Performance against KPIs and benchmarks defined in
 discovery and planning ! Consulting ! Business Planning - Clearly define your Purpose and Vision, and create
 your roadmap for success Sales Enablement - Create a simple, measurable, results-orientated sales and
 marketing plan; providing your team with the right skills and tools Sweet Counsel - Not coaching or mentoring, not training or consulting;
 but at the same time it's all of these things Net Promoter Score - On average, an industry’s NPS leader will out-grow its competitors
 by a factor greater than two times ! Services ! Market Intelligence - The Intelligence, Business Analysis and Insight required to shape the Planning phase for the business overall, programmes of work or discreet projects Special Ops - Flexible and knowledgeable on-demand resources to undertake non Business-as- Usual engagements Project Management - Agile and PRINCE2 project management to manage risk openly and keep business requirements prioritised ahead of implementation convenience Representation - On-demand, card-carrying, on-brand members of your team for sales, events, and special promotions Commercial in Confidence © Copyright 2006-2014 Sweet Business

Purpose Strategy/Direction Vision Marketing Goals & Targets Offering Sales - new business Sales
 existing clients Systems Culture Financials Technology Personal
 Fulfilment Action Review Wealth Creation Profit
 Enhancement Business Barometer Results for Sample Co. Overview ! Sample Co. rates 8.5/10 for readiness and likelihood to fully achieve its growth and development plans. There are a number of units you should consider for review. ! Modules ! Discovery: 7.5/10 - Clarity of purpose and vision. The business’ self awareness of the "As-is" and "To-be" situation and the appetite to grow. ! Planning: 7/10 - Strategy to deliver the programmes, projects and tactics require to achieve an agreed transformation. SMART* ! Execution: 9/10 - Tactics, skills and tools driving the enablement to deliver and manage the
 change defined in the strategy. ! Measurement: 8.5/10 - Measuring performance against KPIs and benchmarks defined in discovery and planning and translating that into a new cycle of Discovery and Planning. *old school: SMART: • Specific – target a specific area for improvement • Measurable – quantify an indicator of progress • Assignable – specify who will do it • Realistic – state what results can realistically be achieved, given available resources • Time-related - specify when the result(s) can be achieved 10 9 8 7 6 5 4 3 2 1 0 Commercial in Confidence © Copyright 2006-2014 Sweet Business

Discovery ! Purpose - It is critically important that you understand your own values and those of your business, and that these are reflected in a clearly articulated statement that delivers the What, How and Why of your business. - The purpose of your business, its values, must be communicated through everything you do (it’s more than a sign in reception!). Staff, customers, suppliers, and other stakeholders must all understand what it is you stand for. ! Vision - Create an easily accessible and up-dateable document that describes what your business will look like when it is “complete”. It’s OK for this Vision to change over time. - As part of your written document, create progress milestones for what the business will look like at 3, 5, and 10 years. These milestones make are critical preparation for measurement. ! Planning ! Strategy/Direction - When you have constructed a Vision you are comfortable with, create a strategy and planning document that will ensure you achieve the vision for your business. - Brainstorm with people from outside the business to ensure you have considered all other options available to you to help you grow your business and achieve your vision. ! Goals & targets - Commit to written objectives for the business for the next 3, 6, 12 months, communicate this to staff and ensure they have 3, 6, 12 months objectives focused on delivering success. ! Execution ! Culture - Give staff crystal clear expectations of what their role is in the business and reward and recognise performance and behaviours you wish to promote and cultivate. - Spend time with your team to ensure buy-in to the purpose, vision and short-term objectives of the business. Remember “the meaning of our communication is in how it is received” - if you’re not getting your message across, it’s more likely to be your problem, not theirs. ! Marketing - Create a marketing plan/schedule driven by the Purpose, Vision and strategic direction - Understand and maximise all routes to market for your offering, implement reporting. - Implement a simple-to-follow brand guideline, including tone-of-voice and social media policy for all communications (on-line & off-line). - Define what your ideal customer looks like and focus effort on communicating with them. ! Offering - Keep offerings simple, if your team are confused - imagine how your customers feel. - Understand and communicate to your team the value proposition of your offering. - Ensure you understand where you do and do not make margin vs building loyalty. ! Sales – new business - Implement a sales process, then measure at evert stage to understand and optimise lead generation, conversion and maximise sale value; crate feedback-loops to marketing. Sales – existing clients - Become a CRM Nazi; measure customer advocacy (using a simply tool such as NPS). - Measure, understand and make it the mission of the business to eradicate customer churn. - Work with your front-line staff to formulate tactics to increase repeat / up-sell. - Set benchmarks to focus the effort of your team on maximising the opportunities to generate revenues from your current list of customers. - Create a written Account Management plan for the business linked to reward/recognition. ! Systems - Incentivise your team to create efficiency in the business, to create systems or automated systems. - Regularly review systems and processes to identify opportunities to out-source. - Create an environment, and test it, whereby you don't need to be present in the business (try day a week, week out, month out, quarter out). ! Financials - Drive processes to obtain as close as possible to real-time financial data. - Produce monthly management accounts with a key metrics dashboard. - Monitor proportion of turnover coming from how many customers, manage to spread risk. - Determine a threshold of financial health for the business to include in your dashboard. ! Technology - Wherever you see paper in the organisation, make it your mission to make it electronic. - Document a data back-up routine/procedure and test it regularly. - Regularly review any on-premise technology; research out-sourced or cloud alternatives. ! Action - Agree an approach to meetings; purpose, agenda, desired outcome, necessary preparation - Formulate a standard project delivery procedure; business analysis, business case development, change management, delivery, testing, training and support. ! Measurement ! Personal fulfilment - Define your requirements from the workplace; working hours, pay, environment, etc. - Understand your ideal work/life balance (specifically what you wish to achieve outside of work), document it, and do it. - Consider and document possible exits from the business; MBO, disposal (to who), IPO, etc. ! Profit enhancement - Schedule a review of pricing at least once every 12 months. - Schedule a review of costs at least every 6 months. - Review up-sell and cross-sell opportunities (new and existing sales) every 6 months. ! Wealth creation - Appoint a Personal Financial Advisor; discuss, agree and document a plan for your personal wealth creation. - Regularly (every six months) review the value of your superannuation against an agreed target to allow you to retire. ! Review - Review every key project to understand “lessons learned”. - Establish a 360 degree review process for all staff and given them an opportunity to suggest ideas to improve their own role, your offering, or the business. - Create a mechanism to celebrate success on a periodic and ad-hoc basis. Units for Consideration Commercial in Confidence © Copyright 2006-2014 Sweet Business

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