Category: Strategy

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Management Strategy

Questions To Ask During A Non-Profit SWOT

VV SWOT small 96 dpiphoto © 2011 pa.toon | more info (via: Wylio)
Non-profits have many of the same challenges as for profit organizations.  In addition, they face unique circumstances because of their reliance on government, foundation and private funding.  A great technique to look at the health of the non-profit is using SWOT Analysis. SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats.  The goal is to examine internal (Strengths & Weaknesses) and external (Opportunities and Threats) elements of an entity.  If there are different divisions or parts of the non-profit providing services, the SWOT Analysis can be defined more or less narrowly, as necessary. Here are questions to start you on the exercise.

STRENGTHS:

1) Do you have a deep, experienced, engaged Board of Directors?

2) What are your assets?

3) Which asset is strongest?

4) What differentiates you from others that provide similar services?

5) Do you have immensely talented people on your staff?

6) Are you debt free or have a debt structure that is manageable from cash flow?

7) What unique resources do you have?

8 Do you have a sustainable competitive advantage?

9) Do you have specific expertise that others do not have?

10) What unique funding sources do you have?

11) Is your senior management team backed by a strong bench?

WEAKNESSES:

1) What areas do you need to improve on?

2) What necessary expertise/manpower do you currently lack?

3) In what areas do other non-profits have an edge?

4) Are you relying on one funding source too much?

5) Do you have adequate cash flow to sustain you?

6) Are you balancing your budget and putting away for a rainy day?

7) Do you have a well of new ideas?

8  Are you over leveraged (too much debt)?

9) Is your mission overly broad?

10) Are your financials audited and monitored beyond the Executive Director and CFO?

OPPORTUNITIES:

1) What external changes present interesting opportunities?

2) What trends might impact your services?

3) Is another non-profit providing services in an adjacent space that you can team up with?

4) Is there another non-profit you could acquire or merge with to increase your size and stability?

5) Is there an unmet need/want that you can fulfill?

6) Are there trends emerging that you can profitably service?

7) Can you convert from single year to multi-year funding?

8 Can you take advantage of the historically low interest rates to refinance your debt?

9) Can you geographically expand your footprint?

10) Can you identify new funding sources?

THREATS:

1) What if your top funders don’t continue funding in the future?

2) Is there an entity that may move into your space and offer the same or similar services?

3) Are your key staff satisfied in their work? Could they be poached by another non-profit or for profit organization?

4) What if you are sued?

5) Do you have to rely on third parties for critical steps in your process that could possibly derail your delivery schedule?

6) What if your website is hacked?

7)  What if there is a natural disaster?

The Takeaway:

Non-profits need to use techniques like SWOT to analyze their environment and risks to meeting the needs of their clients.

Those are the ideas.  What do you have to add?  Please comment below.

1.      What other questions would you add to the list?

2.      Has your non-profit ever used SWOT? What was the result?

3.      Will you change your approach given the list of questions to use during your next SWOT?

If you would like to contact me, you may do so by visiting my LinkedIn page, following me on Twitter,  or e-mailing me at rcberman2 (at) yahoo (dot) com.

Categories
Management Strategy

Why You Should Use SMART Goals

SMARTphoto © 2010 pshegubj | more info (via: Wylio)
Setting SMART Goals provides us with the best chance of achieving those goals.  SMART is an acronym for (Specific, Measurable, Attainable, Realistic, Timely).

Specific

If we are not very clear about what we are seeking to achieve, then how can we achieve it? Be explicit what success looks like so we know when we achieve it.

Measurable

The old saying that you can’t manage what you can’t measure is true.  A reliable set of metrics allows us to see progress and measure how we are progressing along the way.  Are we red, yellow or green in the condition?

Attainable

Lofty goals are aspirational.  Most of us do better with more concrete, tangible goals.  Give your employees a chance to actually achieve the goals you set for them.

Realistic

Most sports teams do not go from “worst to first” in one year.  So too, with your position in the marketplace.  Set reasonable, realistic goals along the path you want to travel.  If the employees feel that your firm is on a journey versus a mad, desperate dash, then they will be more invested in the results.

Timely

Of course, objective results should have timeframes associated with them.  Make those mileposts as soon as realistic, but not so early that you stretch the organization to the breaking point.  Missing opportunities need to be balanced against the opportunity cost.

The Takeaway

SMART Goals consider the needs of the organization. They create the best prospect for success.

That’s the lowdown.  Over to you.  Please comment below.

1.      Do you use SMART Goals?  Why?

2.      What has been your experience with SMART Goals?

3.      What is the goal setting process in your organization?

If you would like to contact me, you may do so by visiting my LinkedIn page, following me on Twitter,  or e-mailing me at rcberman2 (at) yahoo (dot) com.

 

Categories
Product Development Strategy

Product Development: 9 Critical Lessons Learned

The Sterland Product Development Gangphoto © 2005 Ben and Kaz Askins | more info (via: Wylio)
We should periodically step back and look at some of the lessons learned during our careers.  Every post that I write includes a “Takeaway” or lesson learned. I always include the Takeaway to provide a bit of advice boiled down to one or two sentences. Here are 9 lessons I learned about Product Development.

Intellectual Discipline in Product Development

Product Development is important to the whole organization.  It is an intellectual discipline that innovates and renovates products and services that are the lifeblood of companies. Full article here.

Naming Innovative New Products

Breakthrough products or categories are hard to define for the audience.  A descriptive name can break through to potential purchasers. Full article here.

Why Are New Products Launched –To Succeed or Fail?

Marketers must strive to utilize our precious resources: people, time and capital.  Opportunity costs are indeed high when a new product fails. Full article here.

Why Are New Products Launched –3 Correct Reasons?

Product Development that is driven by solid analysis coupled with considered ideas and opportunities has a higher opportunity for success. Full article here.

Why Are New Products Launched –The External Reasons?

Taking action to steer clear of faulty reasons for developing new products will assist you and your firm in having a higher success rate in business-to-business new product introductions. Full article here.

Why Are New Products Launched  –The Internal Reasons?

To get the full picture, we must examine the foundations of why we launch new products and eliminate those approaches, which by their nature, are most likely to lead to failure. Full article here.

Take Product Add Service:  Result is More Profit

Margins are increased when purchasers value their convenience and efficacy of the product versus the competition. Full article here.

No Matter What You Call Them They Taste Great

Adroit business people will spot trends early on or identify products or services that can be the start of a trend.  Acai and Pomegranate are two recent food trends that immediately come to mind. Full article here.

Pricing’s Role in Product Development

A customer-in approach to pricing allows a more accurate cost model and attaining the desired profit margin. Full article here.

The Takeaway

Product Development is an ever-evolving discipline that requires us to look at our successes and failures to improve the new products and services that we develop.

Those are the lessons learned.  How about you?  Please comment below.

1.      What other lessons learned can you add to the list?

2.      Do you periodically step back and consider the lessons you have learned in your career?

3.      Would you change any of the lessons above?  If yes, why?

If you would like to contact me, you may do so by visiting my LinkedIn page, following me on Twitter,  or e-mailing me at rcberman2 (at) yahoo (dot) com.

Categories
Marketing Management Strategy

Marketing Plans: Plan the Plan and Work the Plan

IT man versus salesmanphoto © 2009 Frits Ahlefeldt-Laurvig | more info (via: Wylio)
I was once asked by a business owner, “What do I need to do to move my company from a loss position to one of profits?”  I told her the answer was easy: increase revenues and decrease expenses.  I explained that the implementation was the hard part.

There were a few key steps along the journey to creating a marketing plan to elevate the firm to the next level. The points below are mainly focused only on the revenue side of the equation.  Equal care and analysis are needed to manage expenses.

Vision: We started with the owner’s vision for the business.  Then, we compared and contrasted the owner’s vision with what the employees described.  We identified and explored mismatches, overlaps and gaps.  The outcome was a vision everyone shared and agreed was correct for moving the business forward.

Strengths, Weaknesses, Opportunities, Threats (SWOT): I met with the owner and staff to assess the firm’s strengths, weaknesses, opportunities and threats that would need to be dealt with to achieve the vision.  Aside from enumerating and measuring many factors, we created an action plan list by responding to these two queries:

1.      To shore up major weaknesses and avoid major threats, we will take the following actions …

2.      To build on our strengths and opportunities, we will take the following actions…

Value Propositions: Informed by the vision, the SWOT helped identify today’s customers as well as tomorrow’s customers. These two groups are not always the same.  A value proposition was created for each type of target customer.  Unique Selling Propositions (USPs) were created for each group to guide the sales effort.

Marketing Plans: The Vision, SWOT action steps and Value Propositions including USPs all feed into a Marketing Plan.  The plan encapsulates the best thinking about where the company is today and where it is going over the next 1-3 years.  The plans help you establish the actual tactics and marketing tools you will use to acquire and retain customers.

Implementation/Management: The owner and employees MUST agree on what the tactics are, who owns them, what is to be delivered and by when.  The owner or key employee must manage the process and the deliverables. The oversight ensures timely completion of the necessary work to implement the entire Marketing Plan.

The Takeaway:

A thorough planning process will result in actionable ideas to keep the firm moving profitably toward its goals.  Plan the plan and work the plan.

That is what we discussed.  How about you?  Please comment below.

1.      Are there other steps to the process that you would add?

2.      Do you feel one of the steps is the most critical?

3.      Do you plan the plan and work the plan?

If you would like to contact me, you may do so by visiting my LinkedIn page, following me on Twitter,  or e-mailing me at rcberman2 (at) yahoo (dot) com.

Categories
Innovation Strategy

Innovation: Where Can I Find It?

Business Model Trianglephoto © 2006 Alexander Osterwalder | more info (via: Wylio)

Innovation needs to be part of a company’s culture or DNA.  Some industries seem to have more innovation than others whether it is a process or other reasons.  To learn more about industry variations I spoke with Jatin DeSai.  He is the CEO of The DeSai Group.

1. What are the most innovative industries?

High-Technology, Biomedical, Energy, Software and Consumer Products.  A student going to college today should study science and engineering or engineering and business to take advantage of the convergences in the next 20 years.

As an example, the raw science and engineering know how will help to eliminate infectious diseases in the future.  What is missing are the systems and processes.  India and China add tremendous uncertainty and large scale new business models in every industry. They have their own problems, but both are trying to cash in on this unprecedented opportunity to dominate the West. Youth and young adults should capture this opportunity before they get left behind.

2. What industries are ripe for innovations?

The least innovative are the most  ripe.  They will be hurting so badly that they will need to get out of the chaos.  Some industries such as Healthcare, Financial Services (insurance and banking), Pharma, Oil/Coal/mining, Aerospace (especially defense contractors) and alcohol & beverages are where we are focusing.

We predict, that water will the next oil by 2040.  There are serious water shortages.  More desalination plants are coming on line.  Think about the heavy cost of distribution in beverages.  Companies are taking gray water and turning it into clean water at their own plants. Due to climate changes to our planet, water will become a very precious commodity. The lower on the pyramid will suffer greatly. Humans cannot survive without water for more than 48 hours. There is a huge opportunity for innovation here.

3. The media often portrays Silicon Valley as the center of innovation in the US.  Is that true?  If not, where are the centers of innovation?

The largest three centers of innovation it the US: Silicon Valley, Boston/Route 128 Corridor and Research Triangle. Overseas, India has centers in Bangalore, Chennai, Hyderabad and Mumbai, with upcoming places like Noida near New Delhi.  China has Shanghai, Beijing, and Xi’an for the aerospace industry.

4. What is the next big thing in innovation?

Innovating is bigger than a program.  The sexiness will die in 3-5 years because markets will get back into the growth mode and create real jobs.

The next big thing is in the Social Business Model. Our recent article about 20 big insights about the future called “What will Happen in 2011?”  details some ideas.  Cloud Computing is accelerating trends.  We will see much deeper relationship driven models instead of just running on numbers.

Generation Y is very smart and connected, but have not found a way to have personal relationships since many of their interactions are online, not in person. The connectedness will allow companies to have more contractors or free agents versus employees on the payroll.

The Takeaway:

Industries can be more or less innovative depending upon their mindset, geography , technology and culture.

That is where to find innovation.  Where do you find it?  Please comment below.

1.      Do you agree or disagree with the list of the most innovative industries?

2.      Do you think Silicon Valley is the center of innovation in the US?

3.      What other industries would you add to the “ripe for innovation” or “most innovative” lists?

If you would like to contact me, you may do so by visiting my LinkedIn page, following me on Twitter,  or e-mailing me at rcberman2 (at) yahoo (dot) com.