Biz Strategy

Business Action Plan Reboot
Why have a written plan of action

Do you have a Business Plan?

Why did you prepare a Business Plan?

When did you last reviewed your Business Plan?

Is your Business Plan the foundation of your Action Plan?

Does your Action Plan include a learning strategy to achieve goals more effectively?

You need a written plan that allows you to take action based an effective strategy that allows you to adapt quickly to new information and market feedback even as you implement your action plan.

Spend time with your team and consultants to prepare an Action Plan based on the key areas of your Business Plan.

The Action Plan should set out the strategy and steps to be taken in achieving the goals set under the Business Plan particularly in the areas of ; production, marketing and finance.

The Action Plan is the road-map that takes you towards set daily, weekly, quarterly and yearly goals.

The goals should be SMART; that is, specific, measurable, achievable, realistic and time bound. These are the critical elements in preparing an Action Plan.

Navigating the business world without an Action Plan is like sailing the oceans with a rudderless ship. To prepare an Action Plan include the following 3 practical steps:
1. State your goals clearly;
2. Prioritize your goals in the right order;
3. Set a realistic timeline and completion period.

Make sure there is a set budget for the Action Plan that should include production cost, marketing expenses, equipment investment, salaries and profit forecast.

Prioritize your expenditure and workout the cost accounting so that you can evaluate the “return on investment” (ROI) for your plan of action.

The ROI should justify the risk involved in achieving the goals set in the Action Plan.

Make sure you get the right information to assess the risk involved. This will help you to decide on the right business modal that allows you to have a realistic risk management strategy to ensure a reasonable expectation of business success.

Make sure you review the results of your actions periodically so that you can make any necessary adjustments to keep you on track to achieving your goals.

The world is your oyster. We live in a era of global trade that allows all businesses no matter your size to reach markets worldwide.

Siddha Param
Winnipeg, Manitoba, Canada, North America
The geographical centre of the world’s largest market!
 
Siddha Param is an International Business Consultant with www.worldwidebusinessconnection.com
Your connection to global markets!

Healthy Livng

The Super Bowl of Beans, Lentils & Peas
A healthy hearty serving of goodness!

It is well below freezing outside but the sun is shining, the sky is blue and I’m into my lunch time bowl of comfort food. A mix of beans, lentils and peas (BLPs) cooked into a spicy stew. It is a mix of wild rice, vegetables and potatoes flavored with sea salt and a special tropical six-spice blend that includes nutmeg and the warmth of ginger. Tropical paradise in a bowl titillating the taste buds and taking me back to a tropical white sandy beach as I close my eyes for a moment to savour the taste.

So who says you can’t have fun eating healthy. This bowl of paradise is full of flavor and rich in health benefits. It is loaded with one of nature's greatest sources of fiber and protein. There is also the added benefit of being cholesterol free with a strong helping of essential vitamins and minerals such as folate, calcium, iron, zinc and potassium. That has to be good for hearth. 

I am on a adventure to discover the varied ways these satisfying legumes or BLPs that can help reduce the risk of heart disease and diabetes are prepared worldwide. They are a favorite across Asia from the Middle East to India, Central Asia, China and Japan. The wide varieties include black beans, soya, black-eyed peas, chickpeas, the various lentil dahls and peas. BLPs are used in dishes that include salsas, dips, spreads, salads, stir-fries, soups, chowders, stuffing, stews and cutlets.

I prefer to buy dried BLPs which I rinse, pre-soak for several hours and boil until cooked before using them in the many dishes from appetizers such as humus to a main course BLP burger patty served with a spicy chutney in a bun with salads. It is amazing to see how one cup of chickpeas for instance soaked in three cups of water can rehydrate and expand into a full bowl.

I’ll say yes to a BLP veggie burger for a lazy Sunday afternoon of movies or just planning my next wintertime tropical vacation to the Spice Islands of South East Asia. Paradise regained every weekend. Living well, living healthy and feeling good about it.




Siddha Param
Winner-peg Views
Winnipeg, Manitoba, Canada, North America
The geographical centre of the world’s largest market.

Siddha Param is an International Business Consultant with www.worldwidebusinessconnection.com connecting businesses to global opportunities.

Biz Strategy

Relationship Marketing Psychology  
Why trust is critical in marketing

The Purchasing Decision
Are consumers like Dr. Jackal making strategically planned purchasers or like Mr. Hyde indulging in buying binges to satisfy sudden impulses and cravings or a combination of Dr Jackal and Mr. Hyde?

Then there is also the dichotomy of whether there is a difference in buying patterns on-line through the Internet versus buying at a brick and mortar store to consider.

The word impulse suggest purchasing of “want items” to satisfy an immediate urge for satisfaction. Purchasing of “need items” on the other hand is to satisfy a future or long-term requirement.

 

On-line Shopping
On-line shopping is now estimated to have become a yearly US$100 billion industry. The interesting thing about internet sales is the fact that technology makes it easier to analyze online purchases more easily then purchases at physical stores.

I remember a Travel & Tour operator saying his was now an increasingly irrelevant industry as more and more individuals and corporations were making travel and tour bookings online where they could get better deals. Where the consumer had the online option to get the same service cheaper and from the convenience of an armchair the brick and mortar locations are beginning to lose out.

Purchasing Psychology
But can we say what about the purchasing of products? Will consumers opt for the internet or head out to the store. Would you trust the internet store to deliver quality? And what about that cup of coffee? Would you pop out to grab a cup or prefer to have it delivered. With impulse purchases for immediate satisfaction it appears that the speed of delivery of the product becomes a critical factor. But with planned purchases quality and pricing may be the factor.

This suggest that internet marketing can succeed in selling products and services that are either need items or items that do not require immediate delivery.

Marketing Trust
However, whether it is purchasing on line or at a brick and mortar shop the decision to purchase is very largely driven by consumer trust in the business. Trust comes from building a relationship within the market. It is therefore critical that all businesses incorporate relationship marketing into their business strategy.

Siddha Param
International Business Consultant
WorldwideBusinessConnection.com