Valuetainment - Episode 416： 2020 Strategic Business Planning

00:00:00.000 This is Patrick Bedevi, your host of Valuetainment, and in this episode, I'm going to talk to

00:00:25.700 you about how to strategically plan for 2020.

00:00:29.160 So, let's get right into it.

00:00:30.600 Before I do business planning for the following year, I've got to get my mind in the right

00:00:34.840 state.

00:00:35.840 Let me explain what I mean to you.

00:00:36.840 So, one, I have a calendar out, two, I recap 2019, I look at potential 2020 threats I may

00:00:44.460 have, then things to anticipate, numbers to measure, topics to follow, people to follow

00:00:49.480 in 2020 that have to do with where I'm at with my business.

00:00:53.100 So, let me get through a couple different things.

00:00:54.640 First of all, recap 2019.

00:00:55.640 So, one, I study trends.

00:00:57.640 What does that mean?

00:00:58.640 I need as many data points for me as possible.

00:01:02.080 Anything, sales, hires, fires, lost money, technology, anything I can look at with my months, I need.

00:01:09.080 I need the good, the bad, the ugly.

00:01:11.200 We lost one of our best people.

00:01:13.080 You know, you had a certain compliance issue.

00:01:15.800 You had an incredible month.

00:01:16.520 You had a great summer, but you had a weak fall, or you had a great start, but you had

00:01:20.240 a bad ... I'm looking at all of that good, bad and ugly.

00:01:23.520 Then, I'm measuring 2019 to 2018 in this way.

00:01:26.960 January 2019, January 2018.

00:01:28.960 February, February.

00:01:29.960 March, March.

00:01:30.960 Q1, Q1.

00:01:31.960 Q2, Q2.

00:01:32.960 Then, I'm doing best month versus best month.

00:01:36.080 Best quarter versus best quarter.

00:01:37.960 I'm trying to see if my seasons are changing, and if I'm having any other trends.

00:01:42.400 Then, I measured the initiatives I announced last year.

00:01:47.040 How did this initiative work?

00:01:48.240 This is how it worked.

00:01:49.240 What kind of results we got with this?

00:01:50.400 This is the results we got.

00:01:51.400 Okay, I like this.

00:01:52.400 Maybe we need to continue this.

00:01:53.400 Maybe we need to change this.

00:01:54.400 We had a meeting the other day.

00:01:55.880 For three hours, it was about changing one of the initiatives that we've been going for

00:01:59.320 the last four years.

00:02:00.520 How can we adjust it to produce better results?

00:02:04.040 So we looked at that.

00:02:05.040 Next is obviously missed opportunities by doing a SWOT analysis.

00:02:08.180 What is our current strengths?

00:02:09.180 What are our weaknesses?

00:02:10.180 What opportunities do we have?

00:02:12.100 What threats taking place?

00:02:13.320 Last week was a very big insurance week for us.

00:02:16.280 I'm in the financial industry, so everybody was in town.

00:02:18.260 So we were having very interesting meetings for technology, for speed, for compliance,

00:02:22.760 for things to look out for.

00:02:24.220 But it's because we recap what happened in 2019.

00:02:27.920 Potential 2020 threats.

00:02:29.380 Industry is the first one.

00:02:30.380 Regulation.

00:02:31.380 I put a couple of them here with industry and regulation, but it's pretty much the same

00:02:34.260 thing.

00:02:35.260 What things are changing in your industry that could affect you?

00:02:37.520 You have to start thinking about it.

00:02:39.100 So I'll call around.

00:02:40.100 There are a group of five people I'll call, and I'll say, hey, let's just call him John.

00:02:43.780 Hey, John, anything I need to be looking out for for 2020?

00:02:46.460 Yeah, there's three things that happen.

00:02:48.340 Is there anything that's going on in the financial industry I need to know about?

00:02:50.760 Yeah, there's any carry I need to know about.

00:02:53.400 They fill me in on, right?

00:02:54.760 Because of industry.

00:02:55.760 Politics.

00:02:56.760 On the politics side with 2020, you don't know who's going to get elected.

00:03:00.820 So you have to ask yourself, if Trump gets elected, is it good for your business versus

00:03:04.680 if Elizabeth Warren gets elected, if there is an impeachment, if there is, you have to

00:03:08.800 put all of those things in place because politics is going to affect your business.

00:03:13.300 Most people don't look at it that way, but it is going to affect your business.

00:03:16.600 Economy.

00:03:17.100 What could happen in the economy that's a threat, right?

00:03:19.160 We're going to have some topics to go to here in a minute.

00:03:21.480 Regulation.

00:03:21.960 We talk about family, health, personal.

00:03:23.440 Here's what I mean by family, health, personal.

00:03:26.100 Too often, like I had a conversation with one of my guys, and he says, what do you think

00:03:30.420 is the reason why I slowed down?

00:03:31.620 I said, can I just be honest with you?

00:03:32.940 He says, Patrick, you know how it is.

00:03:34.740 Tell me anything.

00:03:35.980 I said, you've put on 35 pounds in 2019.

00:03:38.780 What do you want me to tell you?

00:03:40.300 I mean, every time you're going like this, you're trying to cover your stomach.

00:03:43.160 It bothers you.

00:03:44.860 You know, you don't feel good.

00:03:46.060 You don't like it.

00:03:46.740 And then you go home and you got to take care of your health.

00:03:49.740 But that has nothing to do with business.

00:03:51.260 It has a lot to do with business.

00:03:52.460 It has a lot to do with your marriage.

00:03:53.620 It has a lot to do with the way you look at yourself when you come out of the shower.

00:03:56.540 You're looking at yourself in a mirror.

00:03:57.500 And at the same time, you're carrying an additional 35-pound dumbbell for 12 months.

00:04:02.140 You know how hard it is to do that and work effectively?

00:04:04.480 You're probably shorter temper.

00:04:06.160 You're upset.

00:04:06.780 You're annoyed because your health needs to be looked at.

00:04:09.560 So you got to go get your physicals done.

00:04:11.520 You got to go do blood work.

00:04:12.680 You got to go get your body checked out to make sure you don't have a potential health

00:04:16.360 2020 threat.

00:04:17.980 Anticipate expected events that could come up in 2020.

00:04:20.880 We invested into technology.

00:04:22.380 It's going to be ready by August 1st.

00:04:24.240 Is it ready?

00:04:24.920 Are we on track?

00:04:25.560 Are the phases coming through?

00:04:26.920 We're hiring a new CEO.

00:04:28.200 Are we good for that?

00:04:29.140 We're hiring a new CEO.

00:04:30.220 Do we have enough pool of people we're looking at?

00:04:32.180 We're getting ready to introduce this whole new side of comp.

00:04:35.560 We're getting ready to bring this up.

00:04:37.000 All of these company events, you have to be ready for and ask if the right people are leading

00:04:42.180 it and you're ready for the deadline.

00:04:44.100 So you got to ask everybody, are we on track on this?

00:04:46.540 I had a board meeting last week.

00:04:47.900 The entire conversation was, are we on track on hitting these deadlines?

00:04:51.560 Things to anticipate in 2020.

00:04:52.940 New hires, new products, new comp, your next 15 moves in every aspect of your life.

00:04:57.920 My next 15 moves is first, I got to call those six guys.

00:05:01.280 I got to recruit that person.

00:05:02.520 I got to invest into that technology.

00:05:04.000 But you got to know your next 15 moves in every area.

00:05:06.520 My kid, my daughter was just here right now, running out all over the place, three-year-old

00:05:10.880 daughter.

00:05:11.120 Everything with her, I have my next 15 moves with her, with my boys, with my marriage,

00:05:16.980 with my family, with my dad, with everyone.

00:05:19.500 It's your 15 moves to know what you're doing next.

00:05:21.660 Things to anticipate in 2020.

00:05:23.700 Numbers to measure.

00:05:24.840 Every month's record.

00:05:26.080 Every quarter's record.

00:05:27.400 And how you feel 2020.

00:05:29.160 Which records are going to be broken in what month, in what quarter to lay it out on the

00:05:34.040 line.

00:05:34.280 Right?

00:05:34.380 So you're looking at it.

00:05:35.220 Then you put 2020 goals.

00:05:37.120 Here's how many new subscribers we're going to have to our monthly subscription that we

00:05:41.480 offer for this product with your company.

00:05:43.560 Here's how many new employees we're bringing on board.

00:05:45.640 Here's how many new customers.

00:05:46.900 Here's how much top-line revenue.

00:05:48.180 Here's profits.

00:05:49.400 All of that stuff is numbers with goals you got to have.

00:05:52.280 Revenue net profits, new subscribers that you may have.

00:05:54.920 Topics to follow in 2020 that could affect your business.

00:05:57.540 Trade war, obviously.

00:05:59.380 5G.

00:06:00.180 Brexit.

00:06:01.140 Election.

00:06:02.060 U.S.

00:06:02.480 Iran.

00:06:03.320 And Epstein.

00:06:03.840 The reason why I put Epstein, this typically is for me around 20 different topics.

00:06:07.800 Epstein, I'm giving you an example.

00:06:09.360 I'm not telling you to follow what's happening with the Epstein scandal.

00:06:12.260 I'm putting it here because of the recording that came out of this one guy that's got this

00:06:18.180 Project Veritas going on that some of the ABC executives were tied to, and there were

00:06:23.220 some powerful entrepreneur, CEO, billionaires that are tied to the name with this.

00:06:28.020 If that comes out, it affects the economy.

00:06:29.520 If you're in the technology space, that could be a good or bad or an ugly.

00:06:33.640 That could be an opportunity.

00:06:34.660 It could be a threat.

00:06:35.400 But you got to follow it closely to know how to move so it's not a surprise to everybody.

00:06:40.600 Next, people to follow closely in 2020.

00:06:43.180 You got Trump.

00:06:44.180 You got Elizabeth Warren.

00:06:45.240 Obvious reasons.

00:06:46.060 Biden.

00:06:46.580 Obvious reasons.

00:06:47.580 What if Hillary comes out of nowhere? 1.00

00:06:48.920 Because she's kind of hinting.

00:06:50.240 I may.

00:06:50.840 I think I can.

00:06:51.440 I beat him once.

00:06:52.080 I can beat him again.

00:06:53.060 So you got to follow her, right?

00:06:54.940 Jared Kushner, who is a very, very strong power player for Trump's team.

00:07:00.060 He's married to his daughter, so he comes across very polished and strong.

00:07:03.920 So that's somebody you got to watch closely.

00:07:06.260 Bezos, Musk, Dorsey, Zuck.

00:07:08.580 All of these guys.

00:07:09.680 I got another 15 names because some of it's my industry, but you got to study which people

00:07:13.400 to follow.

00:07:13.860 Then you got calendar, okay?

00:07:15.660 And on calendar, this is very empty.

00:07:17.620 This is not how my calendar's going to look like because my calendar's going to be personal.

00:07:21.580 It's going to be business.

00:07:22.480 On the personal side, I sit down with my wife and I say, which ones I can't attend, what

00:07:26.220 I cannot attend.

00:07:27.460 So look, Christmas, I want to do this.

00:07:29.260 Great.

00:07:29.660 Family, here's what we're going to do.

00:07:30.780 Great.

00:07:31.540 Tell me the birthdays.

00:07:32.740 Okay, tell me what's going on with the company trips.

00:07:35.080 This company wants us to go to Tokyo this year.

00:07:37.200 I don't know if I can make it.

00:07:38.160 That company wants me to go to Paris.

00:07:40.140 We want to get closer with these guys, so maybe we'll do this.

00:07:42.280 That company wants us to go here.

00:07:43.440 Babe, I don't know if I can make to all of these trips.

00:07:46.480 And then we got family, wedding.

00:07:48.040 That's all personal, and you got business.

00:07:49.920 And then you have events that could take place.

00:07:51.920 That's not business or personal.

00:07:53.120 It's just what is going on.

00:07:54.380 For example, I want to know January 1st falls on a Wednesday.

00:07:56.760 The 31st will be on a Tuesday.

00:07:58.700 What are we doing to finish off 2019 solid, right?

00:08:01.980 25th is Chinese New Year's.

00:08:03.320 Why do I have it in there?

00:08:04.620 If I'm in a business tied to it, I want to know how they're strategizing going into their

00:08:09.920 New Year, because China's a very strategic country, especially with the whole thing that's

00:08:14.540 going on with Made in China, you got to kind of watch what they're going to be doing.

00:08:17.640 February 3rd, Iowa caucus.

00:08:19.800 March 3rd, Super Tuesday primaries, right?

00:08:22.300 Against that's politics.

00:08:23.340 July 6th through the 9th, I'm hosting the Vault Conference.

00:08:26.560 This will be the second year we're doing it.

00:08:28.380 Last year was in Dallas.

00:08:29.440 This year's going to be in Florida.

00:08:30.380 I told everybody in Europe, I'm going to do it East Coast, so it's going to be easier

00:08:33.720 for Europe and Middle East to show up, and Asia to show up, so we're doing it in Florida.

00:08:38.380 It's going to be the largest conference from south of Orlando to rent.

00:08:43.120 We run out of the biggest place.

00:08:45.200 4,000 people are going to show up, probably from 120, 130 different countries.

00:08:48.600 Last year was 43 different countries.

00:08:50.180 We're expecting a very big meeting.

00:08:52.360 We'll go through our three-day event from 9 a.m. to 9 p.m., which is case studies.

00:08:56.520 It's a very technical event.

00:08:57.760 It's not like one of those things you go to where it's like, buy this product, buy that product.

00:09:01.240 You're going to be learning and leaving with exactly what to do, whether you're a CEO,

00:09:05.760 executive, entrepreneur, it doesn't matter.

00:09:07.660 That content will be for you, so if you haven't yet registered, click on a link below the Vault

00:09:12.540 Conference to find out more about it.

00:09:14.180 Tickets are moving fairly quickly, but find out more about that.

00:09:16.860 I wouldn't miss the Vault Conference in 2020.

00:09:19.320 You've got DNC, the Democratic National Convention, the 13th through the 16th of July in Milwaukee,

00:09:24.920 Wisconsin.

00:09:25.500 We're going to find out who's going to be the candidate, and then July 7th to August 9th is

00:09:29.560 the Olympics, Summer Olympics, right, that's taking place, I believe in Tokyo, right, is

00:09:32.840 what's taking place.

00:09:34.000 August 24th to the 27th, Republican National Convention.

00:09:37.780 So again, you're watching both of them going back and forth.

00:09:40.500 October 2020, October 20th of 2020 is Dubai Expo.

00:09:44.640 It's when it begins.

00:09:45.980 If you haven't kind of seen what's going on with Dubai Expo, they're trying to connect

00:09:48.780 everybody together.

00:09:49.480 It's going to be pretty interesting.

00:09:50.780 They've been preparing for this since November of 2013, by the way.

00:09:53.240 And then November 3rd is Vote, new president, U.S., 26th Thanksgiving, 25th Friday, Christmas,

00:10:00.180 December falls on a Friday.

00:10:01.380 So again, planning.

00:10:02.760 So you're kind of seeing where I'm going with this, right?

00:10:05.160 This is just to give you a glimpse.

00:10:06.960 Like if people come to me and sit down and I do business planning with them, it's very

00:10:10.940 much ... I can probably train on this for a full day.

00:10:14.320 This is not a small topic.

00:10:15.560 This is a big topic.

00:10:16.900 I'm just giving you an idea on how to be thinking about going into your new year to

00:10:21.020 make sure 2020 becomes the beginning of the greatest years of your life because you went

00:10:25.960 away from being the person that's unprepared.

00:10:28.380 You're graduating from being the winging person that just talks a lot, but then you never look

00:10:32.740 at your business plan again.

00:10:34.060 You're becoming a professional because you're doing it right.

00:10:36.900 And because you're doing it right, it produces excitement.

00:10:39.720 Know when you go into your new year.

00:10:40.900 If you execute it, this could be a very special year for you.

00:10:43.320 Thanks everybody for listening.

00:10:44.540 And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.

00:10:49.180 Give us a five star, write a review if you haven't already.

00:10:52.160 And if you have any questions for me that you may have, you can always find me on Snapchat,

00:10:56.180 Instagram, Facebook, or YouTube.

00:10:58.120 Just search my name, PatrickBitDavid.

00:11:00.040 And I actually do respond back when you snap me or send me a message on Instagram.

00:11:04.880 With that being said, have a great day today.

00:11:06.680 Take care, everybody.

00:11:07.440 Bye-bye.

Valuetainment - January 17, 2020

Episode 416： 2020 Strategic Business Planning

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