Designing and Implementing an Effective SME Portfolio

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Designing and Implementing an Effective SME
Portfolio

• Robert Warlow
• Group Chief Operating Officer

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Developing Your Strategy

• What is Strategy?

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Why Is Strategy Important?

• Sets the direction or vision for your team
• Highlights risks you face allowing you to plan
  ahead

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• Strategy provides
• Motivation
• Focus
• Direction
• Efficiency
• Enhanced productivity
• Profitability
• Momentum and forward thinking

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Strategy Key Features

• Focuses you on what business you are really in
• Whats your vision/values
• What your business stands for
• Which direction you are heading in

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How to Start Preparing

• Where your team is now
• Where you want to be
• How you are going to get there

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Research

• SWOT
• Strengths
• Weaknesses
• Threats
• Opportunities

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Research
LEPEST
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Drafting Your Plan
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Structure of Your Plan

• Vision/Mission
• Review of SWOT/LEPEST
• High Level Objectives
• Type of Customers
• New Products
• Team Changes

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Structure of Your Plan

• Implementation Key actions
• Resourcing Staff, equipment, premises

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Points to Consider

• Challenge the status quo
• Consider uncomfortable options
• Keep it simple and focused
• Keep it focused
• Ensure it feels right

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Writing Your Business Plan
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What Your Business Plan Should Include

• Specific targets and dates
• Team and individual targets
• Marketing objectives
• Training objectives

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Continual Review
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Understanding Market and Customer Needs
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3 Basic Drivers of Motivation

• Needs
• Wants
• Desires

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Identifying Your Customers Needs
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Identifying Your Customers Needs

• What do you want of us?
• What do my competitors offer that you would want
  me to offer?
• What do we do that we could improve upon?

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Steps to Satisfying Your Customers Needs

• Identify your customers key motivators
• Speak to your customers
• Tailor your advertising and products to match

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Setting Targets and Accountability
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Setting Targets and Accountability

• Measure overall performance
• Drive overall sales performance

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Setting Targets and Accountability

• What gets measured gets done
• People do what you inspect not what you expect

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How to Set Targets/KPIs
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How to Set Targets/KPIs

• Specific
• Measureable
• Achievable/Actionable
• Realistic
• Time Bound

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Characteristics of a Good KPI

• Linked to overall goal
• Specific number
• Something over which you have control

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What Are Your KPIs?
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What KPIs Can Be Used For

• To monitor and drive activity
• Spot opportunities for growth
• Help you deliver on your goals

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• 3 Common Mistakes When Setting Targets

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• 3 Common Mistakes When Setting Targets

• Too ambitious
• No changes made
• No accountability