5 Ways To Help You Establish The Right Business Strategy.

Before you decide to implement the plan throughout the year, let's see if you can pass the following 5 tests.

Your company

You have to remember that you are betting on the future of the company in strategic planning.

If details are inadequate or inappropriate, the two days you spend on strategic planning will ultimately cause damage to your company.

There is still time to improve strategic planning to maximize efficiency in 2011.

One

Worried about the decline in profits, Austen Cohen, the founder of Ticket City, the founder of the ticketing agency, once laid off workers in 2008, and cut managers' salaries in 2008.

Later, Cohen read an old article, Don t Be Afraid. The article is about the company that once focused on growing up.

He realized that he had fallen into the mindset of playing safety cards.

As a result, he adjusted his thinking, hired 10 new employees, and increased the investment in marketing, which increased from $30 million to $40 million in 2010.

Profits also showed growth.

Today, he has further increased his investment in sponsoring a new American College bowling match, Ticket City Bowl, which is televised across the United States.

This is the initiative to attack!

2. soliciting customers' opinions

As one of the largest online contact lens retailers in North America, Coastal Contacts has no idea how to speed up its business growth in the end of its two day strategic planning agenda.

So over the next six months, CEO Roger Hardy and his executive team call clients every week to see what they think.

What surprised the company is that customers have repeatedly mentioned one thing, that is, they hope to receive contact lenses in second days.

"We started implementing all orders overnight delivery," Hardy said.

The US market, which recently made this adjustment, grew by 41% in 2010, pushing the company's sales to $155 million.

3 know what to ignore.

If you satisfy all customers' expectations, they may bankrupt you.

At the request of the customer, Hardy agreed to let the customer choose four pairs of glasses to try out at home (Coastal Contacts also sells glasses), then placed an order and returned to try glasses.

The data soon showed that shoppers who wore glasses with multiple glasses finally returned to the ratio of those who bought glasses, which were almost the same as those who ordered only one pair of glasses.

Later, Hardy cancelled the project because sales growth did not make up for the increase in pport costs.

4. let middle managers participate.

When Dow snail saw his USA Mortgage, a residential mortgage bank in Saint Louis, raised the amount of loans from $113 million in January 2009 to $1 billion 200 million at the end of the year, he was very excited.

When other lenders were struggling, he stepped up sales.

But because they failed to inform middle managers about the growth plans such as acquisitions, they were surprised by the increase in workload caused by the rapid expansion of the company.

As a result, almost all middle managers have resigned, and he can only employ other successors.

Now, at the annual and quarterly planning meetings, he will involve middle managers.

5. priority goals are not many, but in essence.

A few years ago, Toni Fisher J, a chief executive of Single Source Systems, a software company in Indiana, USA, and its team set 15 goals each year, such as automatization of some software functions.

But with too many targets to distract the company's energy, the company achieved a 11% lower revenue than the target of $8 million 100 thousand.

"No one is concentrating on one thing to do," he said.

Later, he decided to set up only a few important priorities.

Last year, the company achieved a target of $10 million in sales.

How many priorities do you have in 2011? Less is more!