THINGS TO CHECK IN A BUSINESS PLAN Monday, Dec 1 2008 

We have been consulting an investor ( a strategic VC Operations) on investing in various projects.

Common findings:

  • The entrepreneurs who had approached the investors were operating more from their gut feelings than from data.
  • They are very optimistic about their future prospects, even though they have been facing tough times for a long time.
  • The data of the best possible scenario is generally referred to as the standard expected scenario, which is never even remotely close.
  • Expenditures are considered on a very loose levels and always underestimated.
  • Lot of challenges are discounted and overlooked till the time they become big and unconfrontable.
  • Competition is never given its dues in terms of considering market share, marketing, sales and talent retention challenges.
  • Sweeping generalities become the business plan instead of data oriented thought through strategies.
  • Cash Flow is expected to be taken care of, by the expected business revenue – which generally fail to be as per the expectations.
  • Challenges faced by the industry as a whole, are not fully considered and rarely brainstormed to create innovative solutions.
  • Scant respect for Financial Planning, strategy, HR, training and development are seen in many cases.
  • Employees are expected to be automatically aligned to the vision that is hidden in the mind of the promoters.

These are some of the observations, but definitely not applicable to everyone.

Many entreprenuers have demonstrated that they do not fall in the above pitfalls and they steer their organizations to great success and sustained performance standards by combining the entreprenuers fire in the belly, with the strategy and systems.

WHAT WORKS:

  1. Have accurate data of the past and realistic data about the future.
  2. Have all industry related information handy.
  3. Have your financial data impeccable and ready to discuss.
  4. Have your competition and various factors affecting your organization performance detailed out.
  5. Have a strong strategy and marketing plan.
  6. What are the Key requirements for success in your industry, is it technolgoy, manpower, skills, market converage? Have all the bases worked out.
  7. Realistic Growth Plans.
  8. Detailed SWOT Analysis or the reverse TOWS Analysis.
  9. Create a realistic picture of the Opportunites and Challenges and your plans for dealing with them.
  10. Clearly identify the areas where you have not yet sorted out things or you would like inputs or are working out external inputs.
  11. Have guidance from professionals like CAs, Management Consultants, Govt. liasoning officers etc., as required.
  12. Create 3 plans , worst scenario, best scenario and realistic scenario.

To discuss more, contact:

MANAGEMENT INNOVATIONS

managementinnovations2020@gmail.com; manojonkar@gmail.com; 919375970812

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CONSULTANCY SERVICES OFFERED Monday, Dec 1 2008 

MANAGEMENT 

  • Facilitating CREATION OF VISION, MISSION AND CORE VALUES
  • Guding in GETTING THE ORGANIZATION ALIGNED ON THE VISION,MISSION AND CORE VALUES
  • Supporting in POLICIES AND PROCESSES – REINTERPRETATION & REFINEMENT based on the Vision, Mission and Core Values.
  • Creating Operating guidelines for each and every role holder inside of the Vision,Mission and Core Values
  • Facilitating Creating Strategies for the short term and long term growth strategy. We recommend using the Blue Ocean Strategy along with TOWS (SWOT) as the starting point of planning.
  • Guiding in the Strategy Implementation. We recommend the BSC – Balanced Score Card given approach as the guiding principle for Strategy Implemenation.
  • Creating Systemic and Systematic Change Management disciplince.

MARKETING

  • Facilitate creation of the Marketing Strategy
  • Guiding on Shortlisting of the Target Market Segments
  • Advice on Creating Specific Strategies for each Specific Target Market Segment.
  • Support on Implementing the Marketing Strategies including using various medium including eStrategies
  • Guidelines for ongoing monitoring, feedback and updating the Marketing Strategies.
  • Continuous innovation and work on Branding and Positioning.
  • Inputs on Online Marketing

 

SALES

  • Training and coaching people on the World Best Consultative Sales Models ( We recommend Huthwaite’s SPIN Model as the foundation for learning Consultative Sales. There are some other good models which can also be used)
  • Guiding people on Key Account Management Strategies.
  • Guiding people on Relationship Marketing as building long term mutually rewarding and respecting relationships with clients.
  • Guiding in Channel Management and Market Coverage Strategies and Implementation
  • Facilitating a Sales and Marketing oriented culture in the organization.
  • Creating a result oriented culture with strong MIS and reporting systems with continuous updates, feedback, coaching, interventions.
  • Guiding on Online Sales, Web Stores, ECommerce, Online Business, Online Lead Generation

 

HR

  • Guide in Creating Performance Based Culture fostering leadership,initiative, ownership and result orientedness.
  • Facilitating KRA setting, performance management, performance appraisal, issue resolutions, teamwork, and growth orientation. 
  • Guide in Creating HR as a strong back bone enriching and supporting the vision, mission, core values and the strategy implementation.
  • Advise on Creating People Development and Talent Management as everyday responsibility of the Supervisors and Managers and integrating it with everyone’s KRAs and Performance Appraisals.

 

TRAINING:

  • Vision, Mission, Core Values – Consulting and Workshops.
  • Strategy Creation – Consulting and Workshops
  • Market Segmentation – Consulting and Workshops
  • Consultative Sales – Consulting, Workshops & Coaching Camps
  • Leadership, Managerial and Supervisory Development, Soft Skills, Attitude, TeamBuilding, Holistic Self Development – Consulting, Workshops and Coaching Camps

MANAGEMENT INNOVATIONS

managementinnovations2020@gmail.com; manojonkar@gmail.com; 919375970812