STRATEGY
VISION STATEMENT
This is the first thing that should be written when commencing a business as it provides a destination for the organisation, It is a critical statement for the business and the individuals who run it.
MISSION STATEMENT:
The mission statement supports the Vision and serves to communicate purpose and direction to employees, customers, vendors and other stakeholders.
SWOT ANALYSIS:
A SWOT Analysis is a tool for documenting internal Strengths (S) and Weaknesses (W) in your business, as well as external Opportunities (O) and Threats (T). You can use this information in your business planning to help achieve your goals.
DIFFERENTIATION:
This approach is developed by providing customers with something unique, different and distinct from items their competitors may offer in the marketplace. The main objective of implementing a Differentiation strategy is to increase your competitive advantage.
MARKETING
PRODUCT / SERVICES
Clients are more likely to trust sales people who show confidence in themselves and what they are selling. This confidence is easily built by increasing your knowledge or your products or services.
IDEAL CLIENT
When you have a clear, well-defined ideal client in mind, it becomes far easier to focus on your brand and market yourself to a specific audience.
MARKETING PLAN
Having a Marketing Plan will help you to identify your target market and how your product or service can benefit them. It will also help you map out a strategy to reach your target audience, including the messages, channels and tools you will use.
GROWTH PLAN
A Growth Plan allows you to plan and track the growth in your business revenue. It allows you to be more efficient in generating new revenues by focusing on the value that clients can see by differentiating yourself from your competition.
FINANCE
MONTHLY PROFIT & LOSS ANALYSIS
Analysing your Profit & Loss (P & L) on a regular basis is an important part of managing your financial wellbeing. By pairing the P & L report with other key documents, like the Balance Sheet, you can fully understand the state of your financials and where there may be room for improvement.
MONTHLY BALANCE SHEET ANALYSIS
Your Balance Sheet is a snapshot of assets and liabilities at a single point in time. Your Balance Sheet provides details about the overall health of your business as well as evaluating financial performance and the value of your business.
COST ACCOUNTING
Cost Accounting is helpful as it identifies where your business is spending money, how much it earns as well as where any money is being lost. The main purpose of Cost Accounting is to report, analyse and lead to the improvement of internal cost controls and efficiency.
RETURN ON INVESTED CAPITAL (ROIC)
Capital (ROIC) determines how efficiently a business puts the capital under its control toward profitable investments or projects. The ROIC ratio shows how well the business is using the money invested to generate returns.
HUMAN RESOURCES
DEPARTMENTS
It is important for a business to have a set organisational structure so the business can operate at efficient productivity levels. Departments may need to work together to achieve the business' goals and this is much easier when the Departments are clearly defined.
STAFF STRUCTURE
Ensuring the appropriate Staff Structure will give employees more clarity, help manage expectations as well as enable decision making and provide consistency.
WORKFORCE MANAGEMENT
Work Management helps to distribute the right people to do the right tasks at the right time. This increases the productivity of your business.
BOARD OF ADVICE
The main purpose of the Board of Advice is to help the business gain new insights and advice to solve business problems as well as explore new opportunities by stimulating robust, high-quality conversations.
TECHNOLOGY & EQUIPMENT
SOFTWARE
Software not only makes your computer hardware perform important tasks, it also helps your business work more efficiently. The right Software can even lead to new ways of working. As such, it is important the correct software is chosen to match your business needs.
HARDWARE
Hardware requires Software to run correctly. Without the correct Hardware, your Software may not run efficiently or at all. It is extremely important to consider both Hardware and Software when making decisions about your IT systems, as this can impact the way you work, your productivity and your business profit margin.
BUSINESS AUTOMATION
Business Automation eliminates bottlenecks that lead to lost time and revenue. The improvements in efficiency and control spread to every Department of the business. From increased productivity and compliance to better client experiences and market performance.
PROCUREMENT
Without Procurement, it would be impossible for most business operations to function. Procurement management ensures that all items and services are property acquired so that projects and processes can proceed efficiently and successfully.
OPERATIONS
PERFORMANCE MANAGEMENT
If a business can get the Performance Management right, it can become a formidable competitive machine. Effective Performance Management is essential to businesses. Through formal and informal processes, it helps align their staff, resources, and systems to meet their strategic objectives.
PROJECT MANAGEMENT
The importance of Project Management in a business cannot be overstated. When it is done correctly, every part of your business runs more smoothly. With the right planning, you can ensure that your work is delivered on time and within budget.
STRATEGIC PLANNING
Strategic Planning is important to a business because it provides a sense of direction and outlines measurable goals. Strategic Planning is a tool that is useful for guiding day-to-day decisions and also for evaluating progress and changing approaches when moving forward.
BUSINESS DEVELOPMENT PLAN
A Business Development Plan sets goals for growth and explains how you will achieve them. It can have short-term or long-term focus. Make sure to review and revise your plan as often as you can. It is also important to continue building on your plan as your business evolves.