Business Growth

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Business Growth

• A strategy for the future

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www.businesslink.gov.uk
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Current Best Practice
7 hallmarks of a successful business

• Customer ServiceConsistently exceeding
  customers expectations
• New ProductsSuccessfully developing new products
  and service
• InnovationDeveloping efficient procedures
  systems and MI

• Direction Developing clearer goals focus and
  strong commitment
• Financial ControlMonitoring and understanding
  performance
• LeadershipBringing out the best in everyone
• TeamworkGetting everyone working effectively
  together

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1 Direction

• We regularly review and raise our business goals
• We periodically sharpen our 3 year business
  targets, the markets, products/services and
  geographical areas on which to achieve these
  targets.
• We present our business goals and targets
  personally to our staff and involve them in
  achieving these goals.

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Strategic Sourcing/Increasing Sales
Porters Five Forces
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• 2 Financial

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2 Financial

• We continually refer to our cash flow forecast
• We frequently review our margins on all our
  products and services.
• We monitor Metrics and targets.

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It is easier to destroyan organisation than it
is to change it!
Tom Peters
Help with IMPLEMENTATION!
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3 Leadership

• We regularly define and implement the values and
  principles we need to bring out the best
  in everyone
• We encourage our people to set personal
  development goals and take responsibility for
  their individual development
• We involve everyone in generating and
  implementing a steady stream of improvements

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The Paradigm
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4 Teamwork

• External
• Internal

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Partnering

• Learning from other business people
• Mergers and Acquisitions
• Joint Ventures
• Stakeholder mapping

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4 Teamwork

• Teams regularly identify their critical obstacles
  and work out together the best solutions to
  overcome the obstacles
• In our teams, we regularly re-define our
  individual roles, outputs and how to help each
  other achieve these
• We recognise each others efforts and
  achievements and reward everyone for the value
  they add to the business

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• Investment in selection beats training 1000
  times over
• Wyatt Woodsmall coach to USA Olympic Team

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5 Customer Service

• We regularly re-clarify our customers
  expectations, agree these with them and match
  expectations
• We regularly review why people buy from us and
  re-design our products/services to meet or exceed
  these needs
• We examine what we do to find ways to do key
  things better, faster and cheaper in order to
  improve our quality, service and productivity

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Strategic Sourcing/Increasing Sales
Porters Five Forces
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6 New Products Services

• We devote the time, people and money needed to
  develop a sufficient number of market leading
  products/ services
• We get multi-disciplined teams together to
  generate creative new products/service ideas and
  then select the most promising ideas
• We launch our selected new products/services on
  time and to cost, ahead of the competition

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7 Innovation

• We continuously develop effective recruitment,
  induction, appraisal and reward systems to help
  us to achieve our goals
• We regularly review and then improve or change
  our procedures and systems to better reflect best
  practice
• We regularly upgrade our information technology
  to improve our competitive edge

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Ishikawa Cause/effect Diagrams
Why, Why, Why?
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In Summary

• Plan how the cash will be swallowed.
• Gain any loan agreements before embarking on the
  project.
• Become aware of basic tools.
• Work hard to develop metrics to monitor progress.
• Be aware of your internal and extern barriers.
• If you're unsure Talk with Business Link ITS
  FREE!

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Business Objectives

• To meet your 3 year vision what are your key
  objectives?

Priority Area 1 Objective To.
Priority Area 2 Objective To.
Priority Area 3 Objective To.
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Questions?

• Your Business Link support for the New Forest
• Keith Campbell Adviser
• Nigel Smith Adviser
• Trevor Thorogood Adviser
• Stephen Dixon Adviser (Clinics)
• Lou Williams - Peer Group Learning