TruMethods Awesomeness
www.trumethods.com
FormulaWon Growth Tracks Preparing for your business plan
© TruMethods, LLC. 2014 - All rights reserved
House Keeping
– – – –
Sound: VoIP or Telephone (Audio Pin #) Type questions or raise your hand to speak This webinar will be available in the Newsfeed Next Webinar is Virtual Sales Meeting • •
Thursday November 5th @ 2PM Eastern Topic: Sales Separation (Eliminating price as an objection)
When you're Schnizzin go to Schnizz corner!
members.trumethods.com/schnizz www.trumethods.com © TruMethods, LLC. 2014 - All rights reserved
News
• • • •
Schnizzfest 2016 June 9th-11th myITprocess update: Strategy and budgeting Sales accountability groups IT nation pre-day event
www.trumethods.com Copyright 2012 TruMethods, LLC
Business planning series
• Today: Preparing for your Business Plan • November: Your 2016 Business Plan • December: Your Quarterly Action Plan
www.trumethods.com Copyright 2012 TruMethods, LLC
Preparing for your business plan
www.trumethods.com Copyright 2013 TruMethods, LLC
Business Plan vs. Business Planning Process www.trumethods.com Copyright 2012 TruMethods, LLC
Business planning process • Prepare: Assess current situation • Plan: Vision, targets, goals • Implement: Quarterly Action Plan, meeting rhythm, accountability
www.trumethods.com Copyright 2013 TruMethods, LLC
Review current results • Review current year results • Compare results year over year • Financial (project year end results) – – – – –
Revenue by category (total and %) Gross margins by category Profitability Balance sheet Cash position
www.trumethods.com Copyright 2013 TruMethods, LLC
Review current results • Smart Number Review – – – – – –
Leverage Picanomics (Macro and Micro) Turning point Churn (amount and cause) Net MRR gain RHEM
www.trumethods.com Copyright 2013 TruMethods, LLC
Calculate current run-rate Current MRR + Monthly Average of NRR Monthly Average of Product Revenue Monthly Average of Other Revenue = Current Run-Rate
www.trumethods.com Copyright 2012 TruMethods, LLC
Review current results • Revenue / customer base – – – – – –
% of revenue from services % of services from MRR Average MRR (overall and new customers added) Average AISP (overall and new customers added) NRR generated from MRR MRR evaluator (not all MRR is good MRR)
www.trumethods.com Copyright 2013 TruMethods, LLC
Review current results
• Operational – – – – – –
Evaluate each service delivery area’s results Process by delivery area Super Power discipline (unleash your Super Power) How are you Moving up the Stack? Operational SMART numbers Capacity
www.trumethods.com Copyright 2013 TruMethods, LLC
Review current results • Sales – New MRR added (Average MRR and AISP) – Activity results (inside sales, marketing, warm lead generation) – FTA’s scheduled and attended – Close % – Team, structure, accountability
www.trumethods.com Copyright 2013 TruMethods, LLC
Review current results • People – Right people right roles – Cultural fit – Force rankings
• Leadership – Business planning discipline – Meeting rhythm – Culture
www.trumethods.com Copyright 2013 TruMethods, LLC
Vision, purpose, values • This the time to revisit your vision for your business and life. • Be sure you have a meaningful 10 year liquid net worth goal • What if your business stays status quo? Would you reach your goal? • Be sure you company purpose is clear to you and your team • Revisit core values and ask if they are alive in your organization www.trumethods.com Copyright 2012 TruMethods, LLC
Why start now? • • • • •
It takes time! (Make/block the time) This process is how you gain command Opportunity to make changes Do some soul searching Remember that your company is an investment and you should expect return on your investment
www.trumethods.com Copyright 2012 TruMethods, LLC
QBR Smart Number Review
www.trumethods.com © TruMethods, LLC. 2013 - All rights reserved.
Quarterly Activities • TruMethods QBR – Jan., Apr., Jul., Oct. • Block the entire day for strategic planning • Resource Planning – People, Capital, Technology • Goal Review – Sales, Operations, Finance • Update Quarterly Action Plan • Schedule Quarterly Team Meeting – Review results – Build culture www.trumethods.com © TruMethods, LLC. 2013 - All rights reserved.
Quarterly Activities • • • • •
Review QBR Smart Number results Detailed financial review Detailed sales activity and results review Leverage review: Micro and Macro Picanomics Prioritize revenue base (Not all MRR is good MRR) • Team review – Roles, Resources, Process, Ranking
www.trumethods.com © TruMethods, LLC. 2013 - All rights reserved.
www.trumethods.com Copyright 2013 TruMethods, LLC
www.trumethods.com Copyright 2013 TruMethods, LLC
FormulaWon Growth Tracks Preparing for your business plan
© TruMethods, LLC. 2014 - All rights reserved
House Keeping
– – – –
Sound: VoIP or Telephone (Audio Pin #) Type questions or raise your hand to speak This webinar will be available in the Newsfeed Next Webinar is Virtual Sales Meeting • •
Thursday November 5th @ 2PM Eastern Topic: Sales Separation (Eliminating price as an objection)
When you're Schnizzin go to Schnizz corner!
members.trumethods.com/schnizz www.trumethods.com © TruMethods, LLC. 2014 - All rights reserved
News
• • • •
Schnizzfest 2016 June 9th-11th myITprocess update: Strategy and budgeting Sales accountability groups IT nation pre-day event
www.trumethods.com Copyright 2012 TruMethods, LLC
Business planning series
• Today: Preparing for your Business Plan • November: Your 2016 Business Plan • December: Your Quarterly Action Plan
www.trumethods.com Copyright 2012 TruMethods, LLC
Preparing for your business plan
www.trumethods.com Copyright 2013 TruMethods, LLC
Business Plan vs. Business Planning Process www.trumethods.com Copyright 2012 TruMethods, LLC
Business planning process • Prepare: Assess current situation • Plan: Vision, targets, goals • Implement: Quarterly Action Plan, meeting rhythm, accountability
www.trumethods.com Copyright 2013 TruMethods, LLC
Review current results • Review current year results • Compare results year over year • Financial (project year end results) – – – – –
Revenue by category (total and %) Gross margins by category Profitability Balance sheet Cash position
www.trumethods.com Copyright 2013 TruMethods, LLC
Review current results • Smart Number Review – – – – – –
Leverage Picanomics (Macro and Micro) Turning point Churn (amount and cause) Net MRR gain RHEM
www.trumethods.com Copyright 2013 TruMethods, LLC
Calculate current run-rate Current MRR + Monthly Average of NRR Monthly Average of Product Revenue Monthly Average of Other Revenue = Current Run-Rate
www.trumethods.com Copyright 2012 TruMethods, LLC
Review current results • Revenue / customer base – – – – – –
% of revenue from services % of services from MRR Average MRR (overall and new customers added) Average AISP (overall and new customers added) NRR generated from MRR MRR evaluator (not all MRR is good MRR)
www.trumethods.com Copyright 2013 TruMethods, LLC
Review current results
• Operational – – – – – –
Evaluate each service delivery area’s results Process by delivery area Super Power discipline (unleash your Super Power) How are you Moving up the Stack? Operational SMART numbers Capacity
www.trumethods.com Copyright 2013 TruMethods, LLC
Review current results • Sales – New MRR added (Average MRR and AISP) – Activity results (inside sales, marketing, warm lead generation) – FTA’s scheduled and attended – Close % – Team, structure, accountability
www.trumethods.com Copyright 2013 TruMethods, LLC
Review current results • People – Right people right roles – Cultural fit – Force rankings
• Leadership – Business planning discipline – Meeting rhythm – Culture
www.trumethods.com Copyright 2013 TruMethods, LLC
Vision, purpose, values • This the time to revisit your vision for your business and life. • Be sure you have a meaningful 10 year liquid net worth goal • What if your business stays status quo? Would you reach your goal? • Be sure you company purpose is clear to you and your team • Revisit core values and ask if they are alive in your organization www.trumethods.com Copyright 2012 TruMethods, LLC
Why start now? • • • • •
It takes time! (Make/block the time) This process is how you gain command Opportunity to make changes Do some soul searching Remember that your company is an investment and you should expect return on your investment
www.trumethods.com Copyright 2012 TruMethods, LLC
QBR Smart Number Review
www.trumethods.com © TruMethods, LLC. 2013 - All rights reserved.
Quarterly Activities • TruMethods QBR – Jan., Apr., Jul., Oct. • Block the entire day for strategic planning • Resource Planning – People, Capital, Technology • Goal Review – Sales, Operations, Finance • Update Quarterly Action Plan • Schedule Quarterly Team Meeting – Review results – Build culture www.trumethods.com © TruMethods, LLC. 2013 - All rights reserved.
Quarterly Activities • • • • •
Review QBR Smart Number results Detailed financial review Detailed sales activity and results review Leverage review: Micro and Macro Picanomics Prioritize revenue base (Not all MRR is good MRR) • Team review – Roles, Resources, Process, Ranking
www.trumethods.com © TruMethods, LLC. 2013 - All rights reserved.
www.trumethods.com Copyright 2013 TruMethods, LLC
www.trumethods.com Copyright 2013 TruMethods, LLC
