5 Simple Steps to Start a Strategic Plan for 2015
As much as you try, it is nearly impossible to accomplish anything without a plan. Whether you’re coaching a team, cooking Christmas dinner, or running a small business, you need a strategic plan.
A strategic plan looks at all the things that your small business could do and narrows it down to the things it is actually good at doing. It also helps you determine where to spend time, human capital, and money.
Developing a strategic plan might seem like an overwhelming process, but if you break it down, it’s easy to have it ready before the new year.
Here are some steps that will help you get in the right track to start you strategic plan.
1. Determine where you are.
For an accurate picture of where your business is, conduct external and internal audits to get a clear understanding of the marketplace, the competitive environment, and your organization’s competencies (your real—not perceived—competencies).
2. Identify what’s important.
Focus on where you want to take your organization over time. This sets the direction of the enterprise for the next year and clearly defines the mission (markets, customers, products, etc.) and vision (conceptualization of what your organization’s future should or could be). Once you do this, identify the priority issues you want to focus on during the coming year.
3. Define what you must achieve.
Define the expected objectives that clearly state what your organization must achieve during the year 2015 in order to address the priority issues.
4. Determine who is accountable.
This is how you’re going to get to where you want to go. The strategies, action plans, and budgets are all steps in the process that communicates how you will allocate time, human capital, and money to address the priority issues and achieve the defined objectives.
5. Review your plan continually. Strategic planning is never over. To ensure the plan performs as designed, you must hold regularly scheduled formal reviews of the process and refine as necessary. Ideally you should do this at least once per quarter.
A strategic plan is a wonderful thing. It can help you take your small business to places you never thought possible. If you haven’t already done so, take the time to lay out a strategic plan now. It will help keep your small business on track and focused on the future.
If you need help creating or putting your strategic plan in motion, the team at GBS Group can help you. When businesses engage in GBS Group's S.I.G.M.A. Process, they find a reinforced corporate vision, strengthened organizational platforms, increased value across all operations, and a predictable growth models. Contact us and let one of our consultants guide you on the road for managing and achieving your goals.