Marketing and Business Tips

Marketing and Business Tips

Annual Business Plan: 7 Key Processes

Tags: , , , 1 comment
featured image

Your annual business growth plan is critical to the consistent, healthy growth of your business. I hope you will overcome the barriers and go into the new year with a solid plan for growth.

I have already identified the 3 Parts of an Annual Business Growth Plan. They are: Your Marketing Plan (with particular focus on your Marketing Calendar), Your Budget (or Financial Plan), and Your Organizational Improvement Plan. Here I want to look more closely at Your Organizational Improvement Plan.

There are 7 key business processes that should be evaluated every year. These 7 key processes are

  • Leadership
  • Management
  • Marketing
  • Selling
  • Operations and Customer fulfillment
  • Customer Service
  • Admin/Back Office

Big Picture SWOT Analysis

I recommend that you create a high level S.W.O.T. chart so you can analyze where you are right now. Create a 4 quadrant grid, one for each of your S.W.O.T. topics. Here is what I mean by S.W.O.T.:

  • Strengths – These are your current or past year internal areas of strength.
  • Weaknesses – These are your current or past year internal areas of weakness that needs to be improved.
  • Opportunities – These are external possibilities that you see for the coming year.
  • Threats – These are potential external threats to your growth and success in the coming year.

Once you create your grid, write each of the 7 key processes in one or more of these boxes. This will give you a high level analysis of your entire business. So my high level S.W.O.T. chart looks something like this right now:

SWOT Analysis_Annual Business Plan 7 Key Processes

Bring it Down to the Key Processes

Once you complete this high level S.W.O.T. analysis, take it down to each of the 7 key processes. Create a S.W.O.T. chart for each of the 7 areas starting with Leadership. You may want to include your staff for feedback and brainstorming. For Leadership, consider the following:

Leadership – vision clarity, communication of direction, overall business strategy, clearly defined goals, good accountability structures.

So my Leadership S.W.O.T. chart looks something like this right now:

SWOT Leadership Analysis_Annual Business Plan 7 Key Processes
Now do the same with the other key processes. You can break them down this way, but feel free to add components to each of these:

Management – effective systems, documented systems, process improvement systems, comprehensive operations manual, efficient dashboards

Marketing – effective referral strategy, building a strong brand, direct response advertising/tactics, relationship management, PR strategies, leveraging the internet, leveraging social media

Selling – documented sales process, strong scripts and selling questions, plan for handling objections, making it easy for customers to buy, closing effectiveness, training

Operations/Customer Fulfillment – documented processes, efficiency, quality control, safety, expense control

Customer Service – relationship management, quick response, building loyalty, reviews & testimonials, customer satisfaction

Admin/Back Office – accounting, reporting, finances, data management, inventory control, technology, infrastructure, technology

Set Some Goals

Once you complete your analysis of the 7 key processes, set some goals for the coming year. You may want to set 2 or 3 goals for each area or set 5-7 overall goals. However you approach this, be sure to write specific, measurable goal statements and share them with your team. If possible, assign a “Champion” to each goal.

After you write your goals determine the specific action steps you will need to take to achieve each goal. Assign a deadline for each action step and assign a person to be responsible for each action step. Once your finished, you have completed your Organizational Improvement Plan.

Be sure to review all 3 of the annual plan components, Your Marketing Plan, Your Budget, and Your Organizational Improvement Plan, to make sure they are all in alignment. Plan a time to review this either once a week or once a month. Now, take action and watch your business grow!

Annual Business Plan: 7 Key Processes
Article Name
Annual Business Plan: 7 Key Processes
An annual business plan has 3 parts: a marketing plan, a budget or financial plan, and an organizational improvement plan, which is what we focus on here.
Publisher Name
Glenn Smith Executive Coaching
Publisher Logo

About Glenn Smith

Glenn Smith is the CEO of Glenn Smith Executive Coaching in Houston, TX. He has been blogging since 2005 and is a local expert in marketing, business systems, and professional development. He helps executives and business owners achieve exceptional performance in their business and their lives.

Related Posts

  • business owner discouragement
  • small business leader