failing to plan is planning to fail
TRANSCRIPT
‘Planning’ is a key cornerstone- Especially for new ventures
LEAD Business Growth is a limited liability partnership firm registered in India.
September 2016
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Key reasons why businesses fail
Perform a short research on the web and one comes across a plethora of reasons why businesses fail. Talk to some of the existing business owners and startups that have crashed and burned within a short span of time after take-off and one gets to know more reasons for business failures.
Started the business for a
wrong reason (Money
rather than passion)Did not have an effective
Business Plan
Insufficient capital and
poor financial
management Inability to build the right
team
Failure to create a well
articulated Business
PlanWrong product or
service (one that solves
trivial problems rather than
major pains)
Lack of persistenceUnclear goals, due to
inefficient planning,
hindering effective decision
making
Co-founders failed to
reach consensus on
several concerns Overlooked key aspects of
planning, business
processes and risks
Lack of planned
direction led to
aimlessness amongst the
teams Overlooked
technology, for leverage
The big question is … ‘Are the newcomers learning from these mistakes?’
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‘Planning’ is a key cornerstone, to stay on track
It is apparent that lack of planning is one of the major (and widely prevalent) causes why businesses stall. Merely an idea or a vision or a plan ‘inside the head’ is not sufficient to reach a high altitude, when it comes to business growth. A brainstormed and well articulated ‘Planning Document’, used for laser-guided behavior throughout the lifecycle of a business is, indeed, a foundation block. A comprehensive ‘Planning Process’ can increase organization wide productivity by 300%.
People don’t bother to write a business plan because they think it’s too hard or unnecessary, unless you’re looking for funding … successful ventures disregard such myths
Key benefits of a well articulated Planning Document:
You won’t lose sight of strategy, despite daily routines and interruptions
Your ‘hunch’ and ‘educated guesses’ will be better, backed by documented outcomes of analysis
You will have specific and measurable business objectives to work towards achieving
Priorities will make more sense, as you would set the foundation for them and revise, as the business evolves
You would stay on track, because of defined milestones and productivity boost by 300%
The Planning Process will help you be ‘proactive’ and ‘not reactive’ about business.
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Essential components of a Planning Document
A Strategic Plan enables transformation of a ‘vision’ to ‘reality’. It helps each person to be focused towards achieving the larger goal of the enterprise.
While business plans differ from business to business, an effective Planning Document comprises of the following key components:
Purpose
Mission (Big Hairy Audacious Goals)
Annual Priorities
Quarterly Priorities
Weekly Goals
Daily Tasks
What is the reason for your business to exist? This is normally aligned to your own purpose.
Planning Document – A snapshot
What is your 5/ 10 years’ mission? What are you trying to achieve? A number of parameters are defined for the mission.
Milestones to be achieved in the next 12 months, that will help in achieving the mission. Here again, a number of considerations are defined (ideally, 50 to 80).
Top priorities to be achieved in the next 3 months, in order to achieve Annual Priorities (ideally, 15 to 20).
Top 5 goals to be achieved, this week, to complete some of the quarterly priorities.
3 tasks to be done today, in order to achieve weekly goals.
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Time to prepare one … The Planning Document
A Planning Document is not an off-the-shelf product. It needs to be hand-crafted for each business.
Each business idea is different and so is the thought process of each business owner. The time needed to prepare an initial Planning Document, hence, depends on a number of factors.
Typically, it would take about 3 to 4 weeks to develop an initial Planning Document for a small to medium enterprise, with active participation of Senior Management, in the process. The more conviction a business owner has, towards setting the plan right, the easier would it be for him/ her to get the milestones implemented.
Stage of business – concept/ idea, commercially launched, generating revenue, etc.
Nature of business – manufacturing, trading, hospitality, services, etc.
Business model – including geographies, regions, areas, etc.
Organization structure – whether formalized or in-the-making
Forecast for revenue, costs, capital outlays, etc.
Maturity of key strategic and operational activities – e.g. licensing and statutory requirements, advertisement and marketing plan, policies and processes, etc.
About LEAD
Our Purpose and Values
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With over 40 years of experience, having served a number of large corporates, we realized that the small to medium scale businesses need professional help, all the more, to take their business to the next level. This is also true with ‘Startups’, who need effective guidance and hand-holding to challenge the status quo, but are reluctant to approach ‘consultants’ because of their cost-benefit sensitivity.
LEAD is a journey to help such business owners bridge the gaps and collaboratively work towards achievement of the entity’s purpose. Our amenities are tailor made, providing innovative Advisory and Training services to business owners, with tools, tactics and strategies to remove obstacles in achieving multiple growth. Our solutions are designed to help business owners work ‘on’ the business rather than ‘in’ the business.
Our Values
Integrity: while dealing with self, team or clients
Quality: each work should be a masterpiece
Teamwork: collaboration, rather than competition
Open communication: fairness and transparency in internal and external communication
Proactive: identify potential problems and innovative solutions, rather than react to situations
Empathy: feel the pain and prioritize solutions
Inspire: lead by example; give more than you get
Ethical: honest and truthful in all the affairs
Client Focus: recommend cost effective and innovative solutions to solve client’s problems
OUR PURPOSE
Help small to medium scale businesses achieve fast and healthy growth, with leading business practices and the entrepreneurs to achieve balanced business and personal life.
Our areas of expertise
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BUSINESS CONSULTING
Strategic planning
Sales & Marketing advisory
Business development and joint ventures
Organization structure assessment
People development
BUSINESS PROCESS ADVISORY
Business process modeling
Business process Re-engineering
Project implementation assistance
Supply chain assessment
Cost assessment
Customer life cycle assessment
RISK CONSULTING
Enterprise risk management
Operational risk assessment
Contract compliance
Assessment of internal controls
Internal audit
TRANSACTION ADVISORY
Deals and valuations
Due diligence
TRAINING & DEVELOPMENT
Leadership development
Operational trainings
Profile of Partners
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Dheeraj MirpuriCo-founder and Managing PartnerCell : +91 9891700025 : +91 7368990025Skype : mirpuridheerajEmail : [email protected]
A Chartered Accountant, by profession, with over 13 years of post qualification experience in the areas of Business Consulting, Risk Consulting, Telecom Revenue Assurance, Audit and Finance.
Over 9 years of association with ‘Big 4’ consulting Firms. Wide array of experience in the Business Process, Risk and Transaction Advisory domains, having successfully delivered assignments across India, South Asia and Africa.
A go-getter and a motivator, having successfully led multiple engagements and large teams across continents. Key solutions (delivered simultaneously) include process modeling, risk assessment, internal control assessment, compliance to Sarbanes Oxley Act (SOX), customer life cycle assessment and internal audit.
Participated and led a number of global initiatives, including Benchmark Reports, Points of View and Global Solutions.
Extensive experience in conceptualizing and delivering solutions for a large number of marque corporates across Manufacturing, Information Technology (semi-conductor), Aviation and Telecommunications sectors.
Committed to help business owners with strategies and tools to achieve multiple growth and negate risks, through implementation of structures and processes. The idea is to help small and medium enterprises develop effective operating and governing structures for fast and healthy growth, through skill sets developed over the years, having been associated with large size entities.
Nishant MarooCo-founder and PartnerCell : +61 488 048 870Skype : nishantmaroo75Email : [email protected]
A serial Entrepreneur leading various businesses in Education, Training and Business Advisory services.
Over 10 years of experience in the International Education Industry as Marketing Director, Business Analyst, Student Recruitment and Migration Advisor.
Helped several reputable institutes establish their agent networks across the globe, whilst helping thousands of International students to study and migrate to Australia and New Zealand.
Background and Masters in Information Systems and Masters in Professional Accounting; continuously demonstrated exceptional analytical capabilities with a focus of surpassing set targets and over delivering every time. Developed new Marketing strategies and delivered innovative business solutions and ideas for overall organizational growth.
Keen interest in quality education and innovative in the dynamic training industry, maximizing opportunities to help individuals excel in life and achieve their dreams. The purpose is to help and touch the lives of people who cross their path through Aston College (own business).
Deep knowledge and expertise in Strategic Planning, Business growth, Information Systems and Digital marketing, with a commitment to help small and medium scale business owners in their journey as entrepreneurs.
Contact
Co-founder & Managing Partner
Cell +91 98917 00025+91 73689 90025
Skype mirpuridheerajEmail [email protected]
Dheeraj Mirpuri Nishant MarooCo-founder and Partner
Cell +61 488 048 870Skype nishantmaroo75Email [email protected]
This document highlights some of the crucial aspects of Strategic Planning, which is a key ingredient for business growth.
We shall be happy to discuss the subject, in detail, with you.
If you want to know more about us and how we can help you, in your journey as an entrepreneur, please write to us and we shall be happy to set up a call/ meeting.