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Issue 11             Linda K. Liebold          www.CoachToSuccess.com
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    Dear Subscribers, 
    As the New Year approaches, take a moment to dream… Close your eyes and picture next year as being your most perfect year ever. This is the New Year I wish for you.  
    To help make your dreams come true, I am offering a FREE tele-forum (a coaching  telephone conference call) on January 21, 2003 entitled “Achieving Your Dreams.”  For more information click here.
    Happy Holidays!
    Linda

 

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Thinking Strategically for Business Success!
Part II

This month’s article picks up where last month’s left off, providing an overview of a strategic planning process that will help you chart a course for business success.  Last month we discussed the first step in the planning process: creating a mission statement for your business.  We said your mission statement should describe the business you are in and answer these four questions: 

  • Who are we?
  • What do we do?
  • For whom do we do it?
  • Why do we do it? (benefits to the customer) 

Here is an example of a well-written mission statement: 

The XYZ Company (who we are) provides exceptional websites (what we do) at affordable prices (why we do it) for small business owners (for whom we do it). 

To receive a copy of last month’s article that describes a mission creation process, email Linda@CoachToSuccess.com. 

Step Two:  Create Your Vision 

How do you create a vision for your business?  You allow yourself to dream.  Ask yourself, “In a perfect world, what would I (we) like the business to look like 3-5 years from now?”  When I ask my clients to share their dreams, some can verbalize them immediately, but others cannot.  Many are so busy with their day-to-day lives, they don’t take time to dream about the future.  So, go ahead and dream.  Throw away any negative thoughts.  Toss out any obstacles.  Go for the gold!  If you have staff and/or a board, include them in this process. 

Here is the XYZ Company’s vision statement:   

    Become recognized as the tri-state leader in designing and administering exceptional and affordable websites. 

Now it’s your turn.  Dream big. Working with others in your organization, write your vision statement. 

Step Three:  Determine Your Guiding Principles 

After creating your business vision, you determine your “guiding principles.” These statements are the “musts” of your business.  They are your personal standards for the work done inside your business.  Here are some examples:

  • Be 100% honest and ethical.
  • Provide superior customer service by… (list specific activities such as “responding to each customer inquiry within 24 hours”).
  • Promote work-life balance within the organization by… (list specific activities such as “providing flex time, job-sharing, working from home.” 

What is important to you?  What are your values?  What are the “musts” of your business?  (If you are interested in learning more about how to assess your values and create your Guiding Principles, email Linda@CoachToSuccess.)  

Working with others in your organization, write your Guiding Principles. 

Step Four:  Set Your Goals 

The next step in the planning process is to set your business goals.  You need to determine how you are going to achieve your vision and abide by your guiding principles. Once again, involve others in this process.  Goals are long-term (1-3 year) benchmarks that enable you to achieve your vision.  Here is one example: 

By December 31, 2004, the number of websites created and administered will increase from 35 to 60. 

Goal topics often include:  management, marketing and sales, finance, human resources, programming, technology, and customer service. 

Now it’s your turn.  Working with others, determine the goals (1-3 year benchmarks) you would like to achieve. 

Step Five:  Develop Your Objectives 

Once you have defined your goals, you need to determine how you are going to achieve your goals.  Objectives are short-term (1 year or less) benchmarks.  As you develop your objectives, keep in mind that they should be SMART.  (Although many coaches use this acronym, I believe Paul J. Meyer, founder of Success Motivation International, is its creator.)   

Objectives should be: 

            Specific (describe who and/or what)
            Measurable (include a component that can be measured)
            Attainable (assure they are realistic and can be attained)
            Results-Oriented (write them in terms of what will be accomplished)
            Time-Bound (include a deadline for accomplishment) 

Here is one objective that will help achieve the goal listed above:           

    Objective 1. By March 30, 2004 (Time-Bound), a marketing plan (Specific, Measurable) will be created. (Results-Oriented, Attainable). 

Now it’s your turn.  Working with others (this may take more than one session), develop the objectives that will help you achieve your goals.  Each goal should have several objectives.

Step Six:  Design Your Strategies 

Strategies are the actions you need to take in order to achieve your objectives.  Strategies include the specific activities, person(s) responsible, resources needed, begin and end dates.  Here’s an example of a strategy that will help achieve the above objective:

Strategy 1: Research the website needs of the small business market in our tri-state area.

Activity

Person(s) Responsible

Resources Needed

Begin Date

End Date

  1. Create research committee.

Jessica

Jessica and 3 individuals from marketing dept.

1/5/04

1/7/04

  2. Choose and hire research company.

Jessica and committee

Jessica and committee $5,000.00

1/7/04

1/12/04

  3. Develop research instrument with research co.

Research company with input from committee

Research company and committee

1/12/04

1/26/04

  Etc.

 

 

 

 

Step Seven:  Format Your Plan 

One way to format your plan is shown below.  You will see that each goal is numbered.  The numbered goal becomes the first number of each of the objectives, strategies and activities that are associated with that particular goal.

XYZ Company Three-Year Strategic Plan
12/31/03 

Mission
The XYZ Company provides exceptional websites at affordable prices for small business owners.

Vision
Become recognized as the tri-state leader in designing and administering exceptional and affordable websites. 

Guiding Principles

  • Be 100% honest and ethical.
  • Provide superior customer service by...
  • Promote work-life balance within the organization by...

Goal 1.
By December 31, 2004, the number of websites created and administered will increase from 35 to 60. 

Objective 1.1.
By March 30, 2004, a marketing plan will be created. 

Strategy 1.1.1.
Research the website needs of the small business market in our tri-state area.

Activity

Person(s) Responsible

Resources Needed

Begin Date

End Date

1.1.1.1.  Create research committee.

Jessica

Jessica and 3 individuals from marketing dept.

1/5/04

1/7/04

1.1.1.2. Choose and hire research company.

Jessica and committee

Jessica and committee
$5,000.00

1/7/04

1/12/04

1.1.1.3.  Develop research instrument with research co.

Research company with input from committee

Research company and committee

1/12/04

1/26/04

  Etc.

 

 

 

 

Who should be involved in the planning process? 

Plans should not be created in a vacuum.  Consider including key people around you.  By including staff, you gain a much better understanding of your business and the clients you serve.  Also, if staff participate, they will feel ownership in the plan – and will want to follow it!  If you work alone, create a planning advisory committee -- bring people you respect into the process.   

Once you develop your plan, follow it!  Don’t just place it on a shelf to collect dust.  Plans are living and breathing documents.  They should be reviewed and updated on a regular basis.

Additional Resources 

There are hundreds of resources available on the internet, in bookstores and in the library that will provide a more in-depth description of the strategic planning process.  This issue and the previous one offer an overview of the process.  If you would like more information or would like to talk to Linda about facilitating a strategic planning program for your organization, please contact:  Linda@CoachToSuccess.com.

Here are some recommended books: 

Applied Strategic Planning: How to Develop a Plan That Really Works
by Leonard Goodstein, Timothy Nolan (Contributor), J. William Pfeiffer 

Team-Based Strategic Planning: A Complete Guide to Structuring, Facilitating and Implementing the Process
by C. Davis Fogg

High Impact Tools and Activities for Strategic Planning: Creative Techniques for Facilitating Your Organization's Planning Process
by Rod Napier, Patrick Sanaghan, Clint Sidle, Patrick Saraghan

Dare to Dream!

Don’t miss the next issue of Leadership & Life Tips featuring an article entitled "Achieving Your Dreams". Based on Linda’s upcoming January tele-forum (see description below), this article will provide a creative way for you to discover your dreams and determine how you can make them come true.

Free Tele-Forum: Achieving Your Dreams

Date:  Wednesday, January 21, 2004
Time:  1:00 – 2:00 PM EST
Facilitator: Linda Liebold, M.A.
Registration: Email:  Dream@CoachToSuccess.com
Registration Deadline: Tuesday, January 20, 2004
Fee:  Free!

Would you like to make your dreams come true?  Are you ready for more joy and fulfillment in your life?  By attending this free, introductory coaching session, you will  

  • Learn more about yourself;
  • Get more clarity about your passion and purpose;
  • Identify your personal and professional dreams; and 
  • Begin designing strategies to make your dreams come true. 

To participate, you must register at: Dream@CoachToSuccess.com.  Upon registering, you will receive the phone number to call. 

If you have any questions or would like further information, please contact; Linda@CoachToSuccess.com

 

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  • a method of establishing a strong, memorable brand for yourself, your organization, your products, and your services?   

You can, with SmartMatch Alliances™.   Contact Linda  for more information about creating a powerful marketing strategy and growing your business or organization.

Interested in a customized program for your organization? 

Would you like to learn more about this topic and others like it?  l will be happy to talk with you about creating custom on-site workshops and tele-classes for you and your group.  Contact me at Linda@CoachToSuccess.com


 

Free Coaching Session

If you would like a complimentary, 30-minute, no obligation coaching telephone session, send an email to Linda@CoachToSuccess.com.

Share Your Tips

If you would like to share your own tips and recommended resources, please send them to: Linda@CoachToSuccess.com and they will be included in an upcoming issue of Leadership & Life Tips.

About the Author

Linda Liebold, M. A., is a business, career and life coach. As founder of Coach To Success, Linda motivates and empowers individuals and groups to be the best that they can be personally and professionally.  Linda has 25 years of experience as a coach, consultant, manager, trainer, speaker, and facilitator.  Since 1984, she has headed Liebold & Associates, Inc., a strategic planning, marketing and communications consulting company. She has worked with hundreds of individuals in over 60 organizations nationwide. She is affiliated with Coach U, Coachville and the International Coach Federation. She is certified in administering the Myers-Briggs Type Inventory (MBTI), Strong Interest Inventory, the California Psychological Inventory (CPI), and other personality, management, team, and individual assessments. For more information click here.

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© 2008 Linda Liebold All rights reserved.

Feel free to forward this e-zine to others. Reproduction for publication is approved, provided the copyright information is included along with the following attribution: From CoachToSuccess.com, an e-zine by Linda K. Liebold, M.A., 410-544-3655 , Email: Linda@CoachToSuccess.com and website: www.CoachToSuccess.com  

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Leadership & Life Tips is a monthly e-zine featuring professional and personal strategies for success.  Each issue offers thought-provoking and practical tips, tactics, and resources to motivate and empower you to  be the best that you can be in your career and in your life. If you wish to subscribe please send an email to subscribe@CoachToSuccess.com, or to unsubscribe please send an email to unsubscribe@CoachToSuccess.com.