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Learn to plan your business for 2020 with 3 marketing tools to improve business results and productivity.
Planning your business for 2020 is essential to forecast the investments and resources needed to achieve your goals. It’s from this planning that your company will be able to understand more clearly which areas require the attention of managers, which can be reduced and where resources can be applied. "It’s through Strategic Planning that the entrepreneur can identify opportunities, innovations, and strategies that will facilitate his success. In addition, the EP is essential for the company's resources to be directed to strategies that convert results. Even the most important resource of a small company that is the time of the entrepreneur", explains Alessandra Torres, business manager and mentor of Agile Business Development.
And, at the end of the year, it is important to start planning your business as soon as possible by 2020.
With that in mind, we have separated 3 tools that will help you with this task!
1. SWOT Matrix
The SWOT matrix is the best-known tool for planning business and actions. Through this, it’s possible to make an in-depth analysis of the macro and microeconomic scenarios of the business and then make better decisions.
"The SWOT matrix provides an analysis of the Strengths, Opportunities, Weaknesses and Threats of a business," explains Maicon Putti, commercial consultant at Idea Consulting and Training.
According to the professional, the parent company must show where the company is losing opportunities and the potential return versus investment of each of them. "Minimizing weaknesses is also critical because this is the outflow of money from companies. Weaknesses are 'deviations' from the process, results below the market average."
To build your SWOT matrix, it’s important to start from a management problem, objective or demand. Then, a market analysis must be carried out to generate opportunities and threats for the company. Here, it’s important to understand the changes in the legislation, the economic and political scenario, the consumption potential, among other things that are beyond the control of the business and that, however, can have an impact on this matrix.
Once this is done, the eyes turn to the strengths and weaknesses of the company before the competitors. This is an important time to be honest and understand what you need to improve and what you have that competitors don’t offer yet.
By completing the SWOT matrix, you will have a much more realistic vision of what can and should be done, key points for planning your business by 2020.
2. BCG Matrix
The name BCG comes from the company that created the methodology in the 70s: Boston Consulting Group. This is an important tool for making decisions about investments in products and services. That is, assess which should be read published, discontinued or receive a larger investment. To make this decision, the company's products are divided into one of 4 categories:
• Stars: products that are in a rapidly growing market and, therefore, have fierce competition while maintaining a large share in this market.
• Question Points: Products with a small share but in a market for fast-growing opportunities.
• Dairy Cows: Leading products with great participation in a mature and moderate growth market.
• Pineapples: Products that were once sales leaders and currently do not have a large share and are in a declining market.
Once the categories are identified, it’s important to keep in mind that star products are often expensive to maintain. At the same time, dairy cows can soon become pineapples and, since they are no longer profitable, they must be abandoned.
Finally, Question Products must be analyzed to understand whether it’s worth investing to become stars.
3. Porter's forces
Finally, Porter's 5 Forces is a tool that indicates how these forces influence a company's ability to serve customers and make a profit. The forces are as follows:
1. Threat of substitute products: Products that do not directly compete but can replace those sold by the company.
2. Threat of entry of new competitors: Ease with which new competitors can enter the market. Here, the country's economy, laws and the capital required to enter the sector are often the biggest impediments.
3. Customer Negotiation Power: The more options customers have, the more power they will have to haggle and choose.
4. Bargaining power of suppliers: When the market is monopolized by a few suppliers, their bargaining power is greater.
5. Rivalry between competitors: Strengths of competitors in relation to your company.
Action plan and participation of the company: why plan your business.
Planning your business for 2020 is of the utmost importance. However, a plan without action will be useless to change the current situation.
"After the planning, the stage of creation of the action plan arrives, where the entrepreneur will organize the strategies that will put into practice according to the time and resources available. For this step, the tool that I indicate is Planner, where the entrepreneur you can organize your routine and ensure that the strategies are put into practice," Alessandra recommends.
For Putti, the greatest result of strategic planning is to focus on the company and achieve more with the least possible effort. After all, it’s these actions that have the power to transform negative and positive results.
However, the professional notes that a survey conducted by Deloitte found that 80% of the planning is not carried out. "The operational routine 'consumes' strategic time and we have a Brazilian culture of doing and not thinking before doing," he explains.
Putti recommends that companies take steps to ensure that this doesn’t happen, including:
• Involve teams,
• Monitor initiatives weekly;
• Show earnings made with changes;
• Focus on some high impact actions;
• Measure the evolution in a visual table for all.