How many of you have got on the road then realised you didn't really have a clue where you were going? If you want certainty in 2010, to arrive at your destination and to do it in style, you need to plan things. Sure you have a business plan that you gave to the bank so they would give you your loan, but is that a precise set of milestones that will guide you through 2010?
How many of you have got on the road then realised you didn't really have a clue where you were going?
Realistically - that's not going to happen is it? Most of us get in the car with a clear understanding of where we are going and what we are likely to face on our journey.
Driving without a bit of forethought is going to end in tears somewhere along the way - either with no fuel left in the tank,
hopelessly lost or in a ditch somewhere.
Sadly, it is not unusual for small business owners to launch in to the journey of a new year in precisely this way. Any wonder that so many businesses run out of fuel half way through, lose their way or, worst of all, end in a figurative ditch.
If you want certainty in 2010, to arrive at your destination and to do it in style, you need to plan things. Sure you have a business plan that you gave to the bank so they would give you your loan, but is that a precise set of milestones that will guide you through 2010?
A business plan is a great overview but a strategic plan is a clear step by step guide for this year. A business plan sits on your shelf and is dusted off for presentations and where you need to communicate the overall vision and mission of your business and as such it is a vital tool in your business arsenal. A strategic plan is a detailed road map to grow your business.
A strategic plan should never be far from your finger-tips. It should address the three vital questions:
- Where are we now?
- Where are we going?
- How do we get there?
Where we are now looks at your mission and core values, where are we going considers our vision and the competitive advantage we have identified and how do we get there addresses the key considerations of goals, objectives, strategies and scorecards.
Questions to ask:
- Where do you want your business to be in 5 years' time?
- What does your company do best?
- Are you passionate about your business?
- Who are your competitors and what are they up to?
Involve your key people in planning, get outside help to facilitate the process, ensure everyone has the information needed to plan properly, take into account different thinking styles during the planning process and most importantly ensure you end with agreement on the way forward.
Finally and vitally, agree on actions, responsibility and ownership for those actions and the timeframes and milestones for achieving the strategic plan.
The strategic plan is a vital and powerful tool for success and should resonate throughout your organisation. From the largest company to the smallest home-based operation every business shoudl have a strategic plan if they want to succeed.
A strategic plan allows you to reconnect with why you started your business. Successful entrepreneurs don't leave anything to chance. Growth is their choice and they plan every step of the way. A strategic plan is the start of a new, bold and exciting chapter in your business calling.
As we launch into 2010, look closely at what your company is, what you want it to be and how you are going to get it to its destination by the end of 2010.
