The Strategy

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The Strategy by Mind Map: The Strategy

1. 5. Who (will work with me)?

1.1. Staff

1.1.1. Recruit

1.1.1.1. A-players

1.1.2. Induct

1.1.2.1. Crystal clarity of

1.1.2.1.1. Vision - the big "Why?"

1.1.2.1.2. "The way we do things round here"

1.1.3. Re-recruit

1.1.3.1. Ensure the greats stay as long as possible

1.1.4. Crystal Clarity of Structure

1.1.4.1. M.D/CEO

1.1.4.1.1. Marketing

1.1.4.1.2. Operations

1.1.4.1.3. HR/People

1.1.4.1.4. Finance

1.1.5. Understanding of growth phases

1.1.5.1. Up to £500K

1.1.5.2. Up to £2M

1.1.5.3. Up to £5M

1.1.5.4. Up to £20M

1.2. Partners

1.2.1. Extreme caution

1.2.1.1. Avoid "it'll be fun"

1.2.2. Must have complimentary skills

1.2.3. Brutally Honest Thinking in terms of skill sets

1.2.4. Complimentary values

1.3. Funding sources

1.3.1. No kneejerk

1.3.2. Consider your long term outcome (the why) first

1.4. You

1.4.1. Weakness

1.4.1.1. 1. That can be delegated

1.4.1.2. 2. That must be worked on

1.4.2. Strengths

1.4.2.1. Priority

1.4.2.1.1. 1. "Future value" time

1.4.2.1.2. 2. "High value" time trade tasks

1.4.2.2. Ruthlessly Reject

1.4.2.2.1. 3. All tasks that can be performed by low dollar per hour employees/outsourcers

1.4.3. "Failure Points..."

1.4.3.1. Strategies to ensure they don't happen again

1.4.4. Your "biggest hurdle"

2. 4. What?

2.1. Product

2.1.1. Key point of differentiation

2.1.2. EXACT match to avatar

2.1.3. NOT what you want

2.1.4. 3

2.1.5. 4

2.2. "Second product"

2.2.1. Critical separate product that can dramatically enhance value of your business

2.2.1.1. "Dream On" book

2.2.1.1.1. Online instruction (10X)

2.2.1.2. Coffee shop

2.2.1.2.1. Catering (3X)

2.2.1.3. Travel agent

2.2.1.3.1. Database (10X)

2.3. Back end

2.3.1. Logically thought through products/services from you and others

2.3.2. Clear funnel

2.3.2.1. but only if it fits the why/vision

3. 1. Why?

3.1. Your outcome

3.1.1. Income

3.1.2. Lifestyle

3.1.3. Asset

3.1.3.1. Keep (but always aware)

3.1.3.2. Sell

3.1.4. Legacy

3.2. Passion

3.2.1. "passion is the genesis of genius"

3.2.1.1. Passion is what people buy into

3.3. Exit/Options

3.3.1. Deep Research

3.3.1.1. Local agents

3.3.1.2. Business selling specialists

3.3.1.3. Accountant

3.3.1.4. Previous owners

3.3.2. Who?

3.3.2.1. Very specific targets

3.4. Create the basic three/five/10 year sales/profit plan

3.4.1. Forces "reverse engineering"

4. 6. How?

4.1. Operationally

4.1.1. "System runs the business...people run the system"

4.2. Financially

4.2.1. Targets

4.2.2. Reporting

4.2.2.1. Metrics/KPIs

4.2.3. Data Driven Decisions

4.3. Marketing

4.3.1. "The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself." Peter Drucker

4.3.2. Channels - get very good at 2-4 only

4.3.3. Three ways

4.3.3.1. New customers

4.3.3.2. Increased spend

4.3.3.3. Increased purchase frequency

4.4. Feedback mechanisms

5. 3. Where?

5.1. Laser Focused Positioning

5.2. Where do these customers hang out

5.2.1. What will they likely be doing before they interact with you?

6. 7. What if...

6.1. Market collapses?

6.2. "Starbucks" opens?

6.3. Key people leave

6.3.1. Staff

6.3.2. Suppliers

6.3.3. Partners

6.4. JV partners leave

6.5. Key marketing channels stop

6.5.1. e.g. Google

6.6. 10X

7. 2. Who? (the customer)

7.1. Customers

7.1.1. MUST create avatar/s

7.1.1.1. Different products

7.1.1.2. Different time of day

7.1.1.3. Different financial positions

7.1.1.4. Different time positions

7.1.2. Relentless obsession with

7.1.2.1. Their actual needs vs desires

7.1.2.2. How they think

7.1.2.2.1. Their wants/desires

7.1.2.3. Their journey through every inch of your business/process

7.1.3. Stephen Covey

7.1.3.1. "Seek First To Understand... Then To Be Understood"

7.1.4. "Something magical happens when a customer feels UNDERSTOOD..."

8. Extra notes

8.1. BMC