Philip Walcoff - "The Fast Forward MBA in Business Planning for ...

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Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"Page 86cient detail to set the stage for setting goals and eventually developing your tactics. Your responses tothe five questions will lay the foundation for an effective business plan. In order to help you frame yourmission statement, examples taken from the mission statements of the 20 sample companies areprovided.Question 1—In 10 Years, Who Are My Clients and What Am I Selling?The first mission statement question, which you'll answer in Exercise 20, deals with your future clientsand what you'll be selling to them. This question gives you an opportunity to consider the possibility offuture expansion of your products and services as well as your client base. For example, if your currentclient base is the federal government, do you believe you should expand in the future into state andlocal government or the commercial sector? Should your client base take on a global character? If youare strictly a product company, should you consider offering services in the future, or vice versa? It isacceptable, even encouraged, to be visionary regarding the business you will be in 10 years from now.Why put limits on a dream? Examples of responses to Question 1 follow:1. The mission of ABC, Inc., is to provide our Fortune 500 Companies, government, and internationalclients with complete information system solutions, niche data management software products,specialized technology training, and expert advisory services.2. The mission of DEF, Inc., is to provide our commercial, industrial, and government customers withwaste and recycling products and services.3. The mission of GHI, Inc., is to provide our mid-Atlantic construction, industrial, commercial,recycling, and homeowner customers with construction equipment and related products and services.4. The mission of JKL Construction, Inc., is to profitably construct high-quality and energy-efficientcustom residences.Page 875. The mission of MNO, Inc., a world-class provider of information technology solutions, is to provideour worldwide government, commercial, and consumer clients with networks, computer systemintegration, business process reengineering, and software development services and products.file:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (100 of 219)16.02.2005 13:54:23
Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"Each of these five responses to the mission statement's first question clearly articulates the company'sclient base and the products and services it offers. Be assured that these five examples don't reflect theclients and offerings of these companies today, but are an expression of their future clients andofferings. As an example, company ABC serves only federal government clients today, but it plans toeventually expand its client base to include large private companies and international government andcommercial organizations. Company MNO currently offers computer systems support, but, as indicated,it plans on considerably expanding its product and service line.EXERCISE 20: DESCRIBE WHO YOUR CUSTOMERSARE AND WHAT YOU'RE SELLING 10 YEARSFROM NOWReview the five sample answers to Question 1 and documentyour own answer in your business plan (see Appendix B).Remember that this is the time to be a little aggressive; don'tbe tied to the clients and offerings your current companyreflects. Describe what you think your products and servicesshould be and what clients you should be serving 10 yearsfrom now.Question 2—In 10 Years, What Value or Benefit Do My Clients Receive from My Products and Services?The second mission statement question, which you'll answer in Exercise 21, deals with the benefits yourclients will derive from yourPage 88future offerings. It's important to understand what you want your future clients to get from doingbusiness with you. What's their payoff? What will the nature of your products and services look like inorder to maximize your client's benefit? Examples of responses to Question 2 follow:1. The benefits our clients derive from our services are that they achieve their objectives better, faster,and more cost-effectively through innovative technological solutions.2. The benefits of our products and services are that in an age of increasing environmental regulation,we provide our customers a single source for handling a broad array of waste-removal and recyclingservices and quality recycled products.file:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (101 of 219)16.02.2005 13:54:23
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