We had house guests from Arizona last weekend. When they were getting ready to leave, I started giving them directions to Door County, the next stop on their trip. My friend stopped me in mid-sentence and said, “Don’t worry. I have my GPS.”

I started thinking about that, and I realized that your business plan is like your global positioning system. We could call it your CPS, or Company Positioning System. It represents your guide, your map for everything you do “on” your business. Now that you have your team identified, we can move into the meat of your business plan or CPS. Here are the fundamentals for developing your plan:

  • Define your competence – You must define why a customer is going to buy from you instead of someone else. Your competence is the one strength or combination of strengths that you do better than any of your competitors. A competence leads to a clear differentiation for your organization. I like to say that without a competence you are “Selling Vanilla Ice Cream.”
  • Illustrate your tangible value – You must make your competence tangible. Everybody says they have the best service or the best quality, but few prove it. It is your responsibility to show your customers and potential customers what your competence delivers to them in concrete, tangible measurements.
  • Develop tactical plans – From experience, the most profitable organizations become experts at tactical (departmental) planning. Department plans detail how each department is going to work “on” the business to deliver the strategic plan. As each department completes its action plans, the progress of the organization accelerates.
  • Implement a talent management system – You can have a great strategy but if you don’t have the right people in the right positions, your success will be limited. A talent management system focuses on recruiting, hiring, developing and retaining the right talent to deliver your competence and strategy. You must “Build the Team to Achieve Your Dream!”
  • Dig into plan execution – At SM Advisors, we focus on helping our clients develop and implement a Plan Execution Program. This instills the necessary discipline and accountability into the culture of your organization to implement the plan. And let’s be honest, accountability is one of the greatest obstacles for most organizations.

If you implement these five fundamentals into your organization I’m confident that you’ll experience top and bottom line growth. Are you ready to find a direction for your company then turn on your CPS! Remember, Those Who Plan – PROFIT!

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