Roland Frasier

Here are some of the questions we are asking in our planning sessions for 2015, as well as how we will ensure we stay on track to meet the goals we set. I would love to hear what you are doing and what questions, goal setting and monitoring processes or systems you are using.

1. Questions we ask ourselves or our team...

A. What are the biggest opportunities for us in the coming quarter/year?

B. What trends emerged in our business in the last 3, 6, 12 months and how can we embrace and profit from them in the next 3, 6, 12 months?

C. What were our biggest specific challenges in the past year, how well did we address them, and what specific steps can we take to overcome them moving forward?

D. What are the biggest threats our businesses face right now and in the coming year, and how specifically should we address them?

E. What leverage points can we best use to grow our business the fastest in the coming year?

i. Who already has systems, sales forces, customers, celebrities, brand recognition/credibility, money, vendors, manufacturing capacity, distribution channels, publicity/earned media, advertising inventory, prospects, equipment and/or talent/personnel that, if we could access, would substantially grow our business without us having to invest the time, money, risk and resources to develop or acquire ourselves?

ii. Who can we identify who wants, needs or values any of the above resources that we already possess who may be a good strategic partner for us in the coming year, or who we could offer any of the above to get an introduction to some third party with whom they have a relationship that could then give us access to one or more of those things that we could benefit from?

F. What are our biggest strengths and what are best at, how did we develop and enhance those strengths over the past year, and what specifically can we do to develop them and use them to our advantage in the coming year?

G. Are our people in the best place in our organization to benefit themselves and our business in the best way possible? Are the principals of the business doing things in our operational side that should be done or could better be done by someone else? If so, who are we going to hire to replace ourselves in those functions?

H. What are our specific per division and company wide gross sales and net income goals for the coming quarters and next time this year, year end? How specifically will we achieve those targets? Start with where we want to be monthly in December of next year and work back quarter by quarter to determine how to get there.

I. What are we missing? What questions should we be asking that we are not? What advisors possess the knowledge, skill and insight to fill the gaps in our existing skill sets and knowledge bases and how can we go about getting them involved in the business?

J. What can we do to get out of our comfort zone in the coming quarters and year that will advance the business? What new relationships in what categories can we develop that may lead to beneficial opportunities in new markets and territories?

K. What existing opportunities, initiatives or business units are underperforming or are not meeting our minimum growth and profitability targets? Should we eliminate them by selling, shutting down or partnering with someone else to run them so that we can focus our resources on greater opportunities in the coming year? If so, what specific plan of action should we have to make sure that happens?

L. In each profit center of the business for the past year, how did each PCM (profit center manager) do at meeting their KPIs and what changes to PCs, PCMs and KPIs should we make for the coming quarters and year?

M. How can we innovate and support innovation in our business in the coming year to be a market leader in each business division? What do we want to stand for and be most known for?

2. Systems we use to ensure goals are met...

A. Accounting systems and financial statement analysis. Look at ratios, ratio trends, comparative gross sales, net sales, variable expense, COGS, G&A and Net Income year over year and quarter over quarter.

B. Daily reports, weekly stand up meetings, monthly reviews and quarterly deep dives to measure performance to goal.

The best planning starts with the most distant end goal in mind and reverse engineers from there. So, we start with the end goal in mind. Then, we reverse engineer back from that to say how specifically are we going to get from where we are now to there and what specific systems, personnel and resources will we deploy to ensure that we provide all the support necessary to get there.

Please let me know what you are doing for 2015 planning for your businesses.

Roland Frasier

United States 27K followers 500+ connections

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