Business News How to ensure your business THRIVES over the next 10 years


By Jonathan Watt, founder of Improve B2B Ltd Jonathan.watt@improveb2b.com


One of the biggest opportunities for improvement I see in many businesses I work with is around their Strategy Planning and Execution. As 2019 and the decade comes to a close, one of my reflections is that the rate of change has not slowed and this aspect of business becomes even more critical.


Most worryingly, the majority of businesses I have recently spoken to haven’t updated their Strategic Action Plan (STRAP) for 2020, let alone given themselves a direction to head into the next decade.


Here’s a condensed version of the 7 critical steps to develop an effective STRAP to set your business on the right trajectory for the next decade (drop me a note see link below to get the complete version.)


1. Start with being brutally honest on where you are – All aspects of your current situation.


2. Review and refine the vision and mission for your business – Create a compelling vision of the future of the company and what it does. Excite your stakeholders!


3. Competitor analysis – Find out what your competitors are doing to win customers and what they are not doing that customers want.


Building Value ­ through high impact leadership & business consulting


Find me on Linkedin: www.linkedin.com/in/jonathan­watt­b627071/ for an expanded version of these steps so you don’t end up like another Kodak. Have a great H2 2019 and schedule a date to update your STRAPs!


4. Clarity in the business model – Step back from your business and look at it objectively as a value­creation engine. What are the activities and resources that directly generate this value and which are the key customers and markets that recognise it. Then address these key areas in your STRAP ­ protection and development.


5. State the top (3­7) objectives for the business in the STRAP – Drive these objectives down to detailed action plans.


6. Development and validation of detailed Financial Plans – Financial plans that are fully aligned with the timing, resource demands, revenue plans, margins, funding and risk management approach in the business.


7. Upgrade your Management Operating System (MOS) – It is critical to connect the STRAP with the daily actions through the Annual Operating Plan AOP and the MOS. The MOS will track the business performance and STRAP progress through a structured weekly (management review 30 minutes), monthly (1/2 day operations meetings) and an annual (2 day STRAP). This will ensure the STRAP stays relevant and on track.


Account customers benefit from a managed service. This means ordering what you want when you want it with no nasty surprises. It means having someone to talk to or shout at if you fancy it. It means that in spite of our competitive technology we understand that people need to be involved to iron out any creases.


Did you know that 55% of companies do not have a taxi expense policy? Most that do only design it for London and that can lead to a Wild West expense scenario with 36% of travellers forgetting to note the cost of their cab and 51% of travellers rounding fares up by 25%.


Want a simple solution to this problem?


Then contact the team NOW!


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t: 0121 745 2222 e: info@ecarsprivatehire.co.uk w: ecarsprivatehire.co.uk September 2019 CHAMBERLINK 19


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