Planning for Better Results

In his most recent report on the current state of the industry, preeminent economist Andy Paparozzi highlights major concerns and priorities for printing company owners and executives for the coming year.

Top concerns are centered on increasing sales, controlling costs, and managing their business profitability during uncertain economic times (is there such a thing as certain economic times?).

Major priorities, for the most part, mirror these concerns. Increasing productivity, efficiency, and cost-effective operations through automation, higher value-added sales, and more effective marketing and promotion of their full range of capabilities top the list. Building their company’s brand ranks high as well as business leaders recognize the importance of standing out from the competition.

So far, so good. While all of this makes sense, it also leads to an important question. What’s the plan?

A structured, comprehensive planning process begins with the items listed above, specifically a detailed list of concerns, opportunities, and unique strengths. From there, key objectives are identified (at a high level, there are five key objective categories), strategies are defined, and a tactical plan is created with quarterly targets for accomplishment set and assigned (“the 90-day world”).

All of this emanates from highly developed and communicated statements of mission, vision and values.

The companion annual budget is developed to support the plan, and both are monitored on a monthly/quarterly basis (note that best results come by developing the plan first and then the budget).

In response to dynamic business challenges, leading owners and executives take a proactive approach by systematically assessing their strategies and formalizing the planning process. Quarterly reviews keep the plan on track while allowing time for adjustments and course correction as needed.

To get started on your business planning, download my Strategy & Planning Workbook at ajstrategy.com/snp. For more information, contact me at joe@ajstrategy.com.

The preceding content was provided by a contributor unaffiliated with Printing Impressions. The views expressed within may not directly reflect the thoughts or opinions of the staff of Printing Impressions. Artificial Intelligence may have been used in part to create or edit this content.