8 Essential Elements of an Annual New Business Plan

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STARING INTO THE FUTURE8 Essential Elements of an Annual New Business Plan

Jody Sutter, The Sutter Company

© 2016 The Sutter Company www.thesutterompany.com

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Jody SutterOwner, The Sutter Companywww.thesuttercompany.com

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…I have a few questions for you

But first…

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What is an annual planfor new business?


Aligns everyone’s expectations

Why is it important?

Looking back prepares you for what’s ahead

Provides clarity and gives everyone something to aim for.

Your boss will be impressed.

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are increasing investments in content marketing

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The future looks great

75%70%43%51%

lack a consistent or integrated content strategy

with intention to grow their content marketing team

will have role directly responsible for content marketing


8 Essential elements you should include in an annual new

business plan.




What kinds of trends are you seeing?

How does your agency need to stay competitive?

Who are your competitors now?

Who do you want to compete against next year?

1.The marketplace


Where are opportunities coming from?

How many pitches did you participate in?

Were they the right ones?

What’s the ratio of reactive to proactive?

Performance2.


Strategic first, then financial.

How much can you rely on organic growth?

How much do you need to focus on prospecting unidentified new business?

Goals & benchmarks3.


Current revenue: $2 millionGoal: 20% growthNew revenue: $400,000 in new businessClient attrition: 20%Actual new revenue: $800,000 annualized By January 1: $800,000 in new bizNo wins until end Q1: $~1 million annualizedNo wins until end Q2: $1.6 million annualizeNo wins until end Q3: $3.2 million annualized


How many pitches do you need to be in? What’s a reasonable/aspirational-sized client?What categories are you best suited to pursue? What level of support will you need? What’s your budget?

Meeting the goals4.


Current revenue: $2 millionGoal: 20% growthNew revenue: $400,000 in new businessClient attrition: 20%Actual new revenue: $800,000 annualized Average client revenue: $200,000Conversion at credentials stage: 1:2Conversion at pitch stage: 1:324 pitches to reach the goal


What does it cost to pitch?Usually it’s not consistent.Often it’s not commensurate with billings.But a benchmark is still useful.


Who’s on your team?What do they do? Are strengths aligned with goals?

Your team5.


You

CEO


You

CEO

NB Dir. NB Dir. Mktg./PR

Holding Company

Coord. Ass’t.

Strategy ResearchCreative Production

Coord. Ass’t.


What kind of agency is yours?

Natural-born hunters Put a prospecting plan in place and set ‘em loose!

Natural-born promoters Give them outlets (blog, speaking, events, social) for their ideas.

Small team, multiple hats

CEO = Chief Sales Officer?

“It’s your job. Keep us out of it.”

What are the 1-2 things the team will be able to do and do well?

Tee up the ball and let him/her hit. Keep them organized and on track.

What are the 1-2 things you’ll be able to do and do well?


Lead generation

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Pitching/closing

Marketing and PR

New Business Triumvirate


PR and marketingWill your agency’s positioning serve you? How are you telling your story? What tactics align with that story?

6.


J A N F E B M A R A P R M A Y J U N J U L A U G S E P O C T N O V D E C

T H O U G H T L E A D E R S H I P

C O N F E R E N C E S / S P E A K I N G

Marketing Calendar Template

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What was your level of operational excellence?What improvements (staff, tools, process, materials) need to be made?

Operations7.

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The stuff you need to...

Keep track of your prospects and progress

Find intelligence on your prospects

Communicate with prospects, clients, partners

Communicate with each other


Written last, always goes first.

Smart, concise summary.

Use it to your advantage to highlight information.

Executive summary8.


1 Executive summary

The plan5 Meeting the goals

2 The marketplace 6 Your team

3 Performance 7 PR/marketing

4 Goals/benchmarks 8 Operations


Start your planning now and be ready to get out of the gate fast in 2017.

Still feel overwhelmed? Contact me for help:

Jody SutterThe Sutter [email protected]

Photo credit: Michele Truex

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THANK YOU.