SPAM – often seen occupying prominent spaces on supermarket shelves and consumer pantries. We say it deserves an important place in Singapore businesses as well!
S – Strategize (the big picture and goals)
P – Plan (departmental and individual plans to achieve these goals)
A – Act (execution, where many businesses struggle)
M – Monitor (ensuring that actual results meet or exceed targets, otherwise fast remedial actions are needed)
Most small & medium business owners get so caught up in the day-to-day affairs and tasks that they forget to consciously set aside time to reflect on the bigger picture and define a clear direction. This “lack of time” is usually because of weaknesses in standard operating procedures, proper delegation, and management ability.
While most people are busy planning and going on vacations this time of the year, successful business owners know that it’s the best time to SPAM for the next 1-3 years. Questions to be asked include: is the existing business model going to still be viable or does it need modification and/or diversification? If so, are the company’s assets (financial, physical, human) adequate and ready? Have monthly, quarterly, annual targets been properly set and communicated? Are the employees motivated to exceed these targets or are most of them merely spectators and zombies? The list goes on.
SPAMing is often taken for granted and neglected (“we’re just a small business”) yet this exercise is probably the most important one in the company’s near-term future. As they say, if you fail to plan, you plan to fail. Having managed and worked in small and large businesses in the past, the SMARKETING team has the empathy and expertise to help your business start on the right foot in 2018 and beyond. From strategizing to monitoring, we can help you implement valuable improvements in sales, marketing, procurement, and management. Better yet, we can coach you and your middle managers so that these positive changes are sustainable!
SMARKETING is open for business throughout the holiday season because we’re busy preparing for a prosperous new year for us and our clients. We’re ready to help you too – please contact us today for a friendly discussion!