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An often overlooked part of the business planning process is the business review. This presentation contains a series of question that that can be used to improve your next business plan. So, before you dive into financial planning, step back and consider what's happened in the last year. Use the resulting insights to improve your next business plan.
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© 2009 James Hipkin
Business Review Made Simple
Looking back helps you plan forward
© 2009 James Hipkin
Business Review• Short answers — 5 to 10 seconds to read
• Be honest and objective
• Review responses for consistency
2
© 2009 James Hipkin
Business Review• Why have you been successful?
- Objective
‣ two to three points
- Subjective
‣ two to three points
3
© 2009 James Hipkin
Business Review• Why have you been successful?
Write a broad summary statement
4
© 2009 James Hipkin
Business Review• What have been and will be your most
successful products?
- list them
5
© 2009 James Hipkin
Business Review• Why have your products been successful?
- Focus on customer benefits — how they solve customers’ problems
6
© 2009 James Hipkin
Business Review• Who have been and who will be your
best customers?
- Don’t just provide characteristics
- Also provide motivations
7
© 2009 James Hipkin
Business Review• What's their problem and how does your
product or service solve it?
- Dig into why they need your products
8
© 2009 James Hipkin
Business Review• Who have been and who will be your
competition?
- List top competitors only
9
© 2009 James Hipkin
Business Review• Why would your best customer
choose them?
- What’s their benefit / offer
10
© 2009 James Hipkin
Business Review• What are your quantitative business goals
in the next 2 to 3 years and in 5 years?
11
© 2009 James Hipkin
Business Review• What are your qualitative business goals
in the next 2 to 3 years and in 5 years?
12
© 2009 James Hipkin
Business Review• What are the key internal issues that
impact your business?
13
- Today
‣ two to three points
- Tomorrow
‣ two to three points
© 2009 James Hipkin
Business Review• What are the key external issues that
impact your business?
14
- Today
‣ two to three points
- Tomorrow
‣ two to three points
© 2009 James Hipkin
Business Review• Considering your responses, describe how
your business must change to achieve its goals.
15
© 2009 James Hipkin
Summary• Write a Positioning statement based on the
previous work
- For ... target audience, Name provides ... key differentiating benefit, resulting in ... business outcome
• Write a tag line, a short summary statement of positioning
16
© 2009 James Hipkin
Thank YouFor more information contact
James Hipkin or go to Hipkin’s Hip Shots
