3 things that need to be in your 2014 business plan

So if you are like us at PCE, you are already well into planning for 2014.

And part of that planning process invariably asks what is it that we do best and secondly what do we need to improve?

This is however where most business plans and therefore most businesses fail. What occurs thereafter are brainstorming sessions, that generate a plethora of ideas, of initiatives to deliver to go from "good to great" by innovating, coming up with the competitive edge that will blitz the competition.

Often the ability to deliver such growth is overstated and what ends up happening is that the business forgets to deliver the answer to the very first question : what is it that we do best?

Focussing on weaknesses highlights and delivers just that : weaknesses or at best improved weaknesses.

Paul Leinward and Cesare Mainardi (Harvard Business Review June 2010, pp 86-92) posed the question as to whether you business had the courage and discipline to focus intensely on what it does best.

Rather than chase business in markets where the company does not have capabilities to sustain success, "coherent" companies align what they do best with the right market positioning.

In other words they position their offer to their ideal clients in a way that resonates.

Every decision then is focussed on being able to answer 3 questions (the 3 that need to be in your business plan).

According to Leinward and Mainardi these are :

How are we going to face the market? In oner words : what is our value proposition? Understanding the value you create for the customer and being able to articulate it in a replicable/repeatable phrase is key here.

What capabilities do we need? In other word : To deliver on our value proposition what 3-6 capabilities to we need to display / deliver?

What are we going to sell and to whom? In other words: the product and services that make up the product mix are the ones that are key to your value proposition and highlight the capabilities that your business has, are delivered to the right customers in the right communication mix.

So the key is:

- figure our what you are really good at, develop the capabilities you have to deliver that so that they are best of breed, align this with the market place opportunities and be rewarded with sustained superior returns.

Ask these 3 questions in your business planning process : which by the way should include all team members (it's a great way to assess if you actually need to reassess whether the capabilities you have in your team are actually the right ones for you!!)

A Short Guide For a Big Impact Communication Strategy

So here's a quick guide if: you are thinking of a social media strategy for professional service clients and have a website as a main plank for showcasing your business.


1) Just because social media exists does not mean it is appropriate for your communication strategy

2) First determine what is your message, to whom you will convey it

3) Next determine where your clients are getting information from : where are they congregating and interacting : if it is Facebook : Facebook might need to be part of your strategy : if not : then don't waste time

4) Twitter : great for broadcasting, sourcing information : but who is your audience and where do you get your news from : if audience is niche/specific : then twitter may not be appropriate

5) Blogs : allow you to update clients with value and position you as a subject matter expert : it is regular communication without being intrusive

6) Website : where you want to direct clients to : so they connect : great for referrals to be able to interact

7) Analyse your client base and determine the appropriate mix of communication strategies for you

8) Consider your website and update with staff profiles/videos, contact capturing section, blog page, and as for client communications : client personalised emails, client personalised video messages

9) Write your blog regularly: once a week: at least one a fortnight

10) Update LinkedIn and post your blog : the people connected to you will then be directed to your website

11) Hide your connections

12) Stalk your clients : see if they are on LinkedIn : see if they are active : connect with them : see who they are connected to : potential new clients?

13) Post videos on LinkedIn and on your website

14) Continue your personalised emails

15) Your "news" items are also things to post on LinkedIn and on your Blog

Getting Social : Social Media : are you forgetting the social and focussing on the media?

So tonight we are presenting for a group of financial service professionals about how can you build your brand, deepen client engagement and increase referrals and new business by listening and communicating with clients.

It's a topic we love, and love engaging and connecting with people on.

And there is the essence of what social media is....it is social.

Too often the "media" is the focus and old style marketing is thrust upon clients and prospects from a business that thinks it is getting social.

Too often the messages are not about the client, they are about the business.

Times have changed, in that no longer is the primary information that shapes our choices as consumers, coming from the business selling the goods or services.

We have as humans have always done but with accelerated power and scale made choices by consulting trusted sources, our social circle.

Now that social circle is no longer the people in a tiny village. Rather our social circle is global and instantaneous!

We have a bigger voice than the company and we are using it.

The way to get social and become the most interesting person in the room (or on the web) is as it has always been : to listen.

Can't wait to hear what people are saying and feeling tonight.