Posts Tagged ‘Strategic Planning’

If Your Goal is “Implied,” You Don’t Really Have a Goal

Thursday, September 8th, 2022

In interviewing for a job several years ago, I went through a round of interviews with various members of the organization. When meeting with the Chief Administrative Office (CAO), he handed me a brochure and said: “What do you think about this brochure?” My immediate thought was: “In what regard?,” but I resisted the urge to say that and, instead, said:

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“More” is Not a Good Marketing Goal. Why Specificity Matters.

Tuesday, August 16th, 2022

Many of you have probably been at goal-setting seminars or workshops where the leader will pose a question like: “Would you like to make more money?,” and, of course, everybody nods or raises their hand. Then the leader will approach a workshop participant and  (more…)

Our Top 5 Content Marketing Predictions for 2019

Wednesday, January 2nd, 2019
It’s hard to believe another year is winding down. It’s the old “toilet paper roll theory” (a not-so-scientific way of explaining relativity). Time may pass more quickly (at least perceptually) for me, than for the university students I teach, for instance. For them a year represents about 1/20th of their lifetime. For me, well, you get the point!
At any rate, as another year is almost behind us, it’s time for two annual traditions: making predictions for what the new year may hold and making resolutions.
Here’s a look at our top predictions for 2019.

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3 Plans to Drive Small Business Success

Friday, May 18th, 2018

by Justin Grensing, Esq., MBA

Every small business owner knows that the path to success is fraught with many challenges. From managing staff, to financing, to marketing efforts, small business owners often feel overwhelmed with the ancillary yet critical activities they need to succeed at in order to pursue their love of event planning, or flower arrangement, or owning their own medical practice, etc. In a recent article for Entrepreneur, Pamela Slim discussed “How to Overcome Common Challenges and Help Your Small Business Grow,” and one of the topics Slim focused on was the concept of “reacting versus looking ahead.” (more…)

Identifying Product/Service Substitutes That Could Compete For Your Market

Tuesday, March 21st, 2017

Michael Porter revolutionized the world of business strategy when he developed his Five Forces framework, which evaluates the competitiveness — and resulting attractiveness — of an industry based on five competitive forces. We’ve discussed the framework previously, but now we’re taking a more in-depth look at each individual force. Today, we’re looking at the threat of substitutes. (more…)

Planning is Overrated: Execution is Where It’s At

Tuesday, October 4th, 2016

executing your strategic plan, strategic planning, strategic communicationWhat’s more important: a great idea or great execution? There’s certainly an argument to be made for the importance of ideas for entrepreneurs, and it’s easy to point to famous examples of huge fortunes and successful businesses that sprung from a great idea — Facebook, the automobile, the PC, etc.; but the idea is just the beginning. (more…)

Looking Ahead to a Successful New Year!

Monday, December 28th, 2015

With the new year approaching, the thoughts of many turn to New Year’s resolutions. It’s an annual tradition of setting goals for the coming year that dates back millennia, according to Oklahoma State University’s “Newsline.” However, while a 2013 article from Forbes estimates that roughly forty percent of American’s make a New Year’s resolution, only eight percent end up keeping that resolution! We think we can beat that number. (more…)

The “Big Rocks” of Effective Strategic Plan Implementation

Thursday, August 6th, 2015
Strategic planning is one of those activities that is often looked upon with either fear or disdain. Why? Because all too often business professionals who have been engaged in what can be a very long and arduous process are disheartened when the plan never really seems to reach fruition. It becomes a document based on an exercise that can take an inordinate amount of time (but doesn’t have to…).
In our experience working with a number of different organizations on strategic planning efforts, and conducting research on strategic planning when writing “The Complete Idiot’s Guide to Strategic Planning,” there are a number of reasons that even the most carefully created plans fail to be implemented as planned, let alone serve to achieve the desired results.

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What’s in a SWOT? Exploring an Important Input to the Strategic Planning Process

Monday, February 9th, 2015

A SWOT analysis – Strengths, Weaknesses, Opportunities and Threats – is a critical element of a strategic plan, if done correctly. Far from being a “silly exercise” (and I’ll admit in the early days of my career I sometimes felt that it was…) the SWOT is an important input that leads to the development of strategies. It can be a determinant of whether or not you will be able to successfully achieve your goals and objectives. But, it has to be done correctly to deliver that value. (more…)

5 Competitive Forces That Should Be Shaping Your Strategy

Thursday, October 9th, 2014

Every MBA student or undergraduate in an introductory business strategy course has encountered Porter’s Five Forces. The concept, outlined by Harvard economist and professor Michael E. Porter in 1979, has been a foundation of business strategy in both academia and the business world for decades.

Professor Porter revisited the topic in a recent article in Harvard Business Review, appropriately titled “The Five Competitive Forces that Shape Strategy.”

For those unfamiliar with the five forces, they are: (more…)