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"Figure 7.1Customer survey form.Page 102Asking your clients how you are doing has two major benefits. First of all, you receive importantfeedback regarding your level of performance as perceived by your customer, and second, you have anopportunity to ask for more business. A happy client is the best lead for new business, and it's amazinghow business will show up if you ask for it.Competitive Distinction GoalsYou should have one or two five-year goals supporting the answer to the third mission statementquestion, regarding what distinguishes you from your competition (Exercise 28). It's very important todevelop these distinctions over the next five years because this will set you apart from your competitorsand ensure your place in your market. You don't have to be the only company with these distinctions,but you want to be in the small group of companies ahead of the pack. Some examples of competitivedistinction goals follow:1. Three world-renowned product lines2. 5 niche products generating 25 percent of the business3. Three specialized training programs in place and all instructors fully certified in all training programsofferedfile:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (116 of 219)16.02.2005 13:54:23
Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"4. Highly competitive rates, reflecting a 65 percent overhead and 6 percent G&A5. Comprehensive R&D program in place leading toward new FY 2004 products and services6. 20 certified engineers in niche technology areas7. Good reputation in the marketplace, as evidenced by being on 10 major prime and 10 small businessteams pursuing major ($25 million) programs8. Highly experienced technical staff, as evidenced by average experience of 15 yearsThese examples of five-year goals all identify something that distinguishes the company from thecompetition.Page 103EXERCISE 28: DESCRIBE YOUR FIVE-YEARCOMPETITIVE DISTINCTION GOALSUsing one or more of the examples shown in the precedingtext, or other mission statement distinctions you have defined(distinguishing characteristics), document one or two fiveyearcompetitive distinction goals in your business plan (seeAppendix B).Strategic Marketing GoalsYou should have several goals supporting the answer to the fourth mission statement question,regarding what your major marketing strategies are (Exercise 29). It's very important to identify somemeasurable milestones toward achieving this critical element of your mission statement. Examples ofmajor marketing strategy goals follow:1. High visibility in the market, as evidenced by publishing 4 papers, actively participating in 5professional organizations, participating in 3 trade shows, publishing 12 press releases, and advertisingin 3 industry trade journals2. Niche products generating half the company revenue3. Advertising budget equal to 1.5 percent of gross revenuesfile:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (117 of 219)16.02.2005 13:54:23
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