Small Business Update

Situation Analysis and Review

Easter is over for another year and we're already into the second quarter of 2009.  Now is a great time to pull out your business plan and review how you are tracking.  We are currently in the process of doing this for our businesses and it is an extremely valuable exercise. 

One element of the plan is the Situation Analysis which is basically an overview of your market, customers and competition and how your business is situated relative to these elements. It is currently a very dynamic environment with daily changes and challenges being presented to business owners.  Because of this, it is more important than ever to stay on top of how your business is situated.  Below is a great overview of how to undertake a Situation Analysis.

 

 

Here is a summary of what you need to do for your Situation Analysis:

  1. SWOT Analysis - Analyse your Strengths and Weaknesses (internal factors) plus your Opportunities and Threats (external factors)
  2. Market Analysis - Market segments, customers, market, competition & positioning
  3. Keys To Success - 2 or 3 main factors that drive your business and make is successful
  4. Core Competence - One thing your business does really well setting it apart from competitors
  5. Competitive Advantage - Understand this and be able to explain it clearly.

This is actually a lot easier than it looks.  You will find that most of the information is at your fingertips - ask your customers, get on the internet, talk to suppliers.

Then, use the blueprint outlined above and make the necessary tweaks to your business plan.  Even if it's only a brief review, it will be worth the time and effort.

To add another perspective, there are also some more great Business Planning tips from John Vamos below.

Until next time,

Samantha & Steve

P.S.  If you any other tips you would like to share, email us at info@smallbusinesschampionsclub.com

 

Champion Tip

Today's success tip comes from John Vamos.John Vamos

Since starting Business Coaching Systems (BCS), John has become recognised as the pioneer of organisational coaching. John holds directorships in the financial services, management services and hospitality industries. He is also a leading commentator in the commercial press and has authored a book called You Don't Think As Smart As You Are.


What are the essential elements of a great Business Plan?

I would describe a great business plan as having:

* a clear statement of intent or purpose for the business

* an understanding of the core components of the business necessary to deliver that promise

* an expression of the deliverables for each of those core components over the life of the plan

* establishment of who in the organisation will be responsible for each deliverable

* an assessment of the priority that should be attached to each

* an action plan that supports its delivery.

If this is all you ever read about business planning, then you have read all you need to.


This website contains even more great tips from John Vamos.

CLICK HERE TO READ MORE NOW.

 

Small Business Champions Club

How To Get More Sales for Your Business

By learning from experts and applying this to your business, you can increase sales.

Small Business Champions Club offers you the opportunity to learn from experts.

If you would like to know How To Get More Sales for Your Business, here is a sample of what the club can offer:

  • 7 Secrets To Turning Cold Leads Into Warm Leads by Ari Galper (Audio Interview)
  • Capturing The Most Profitable Customer - Tony Gattari (Audio Interview)
  • Secrets Of Telemarketing Success - Jenny Cartwright (eBook)
  • Dealing with Cranky Customers - Tony Gattari (Audio Interview)
  • How To Be A More Effective Sales Person - David Staughton (eBook)
  • How to sell in a down economy - Ari Galper (Audio Interview)
  • Involve Your Customer - Paul Hanna (Printed Interview)
  • Marketing Direct - John Rawson (Printed Interview)
  • Phone Selling - Jenny Cartwright (Printed Interview)
  • Follow Through - Terry Lee (Printed Interview)
  • Turn Your Sales Appointments Into Clients - Ben Fewtrell (Audio Presentation)
  • How to Grow Your Business By Ten - Michael Hewitt Gleeson (Audio Presentation)

Members can click on the link below and login to access the material.

www.SmallBusinessChampionsClub.com/login

Non Members, don’t miss out any longer. Join the Small Business Champions Club today for the special introductory price of just $1.00. Click below and take action now.

www.SmallBusinessChampionsClub.com/testdrive

 

Members Only

How To Earn A Passive Income

Did you know, as a member of Small Business Champions Club you can earn money by recommending the club to other people.  This is known as an Affiliate Program and is a really easy way to earn money.  We will provide you with all the material you need to promote the club as well as any support required.

To get an idea of how the affiliate program works and what it means for you, head over to the Affiliate FAQ section.

 

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