We would encourage all business owners to take the time to prepare a 2021 strategic plan.
If you have an idea of what you want your business to look like when it is running successfully, then you are in a position to drive your business towards the vision, and you can monitor how you are doing as you go along.
A plan looks at all the things a business could do and narrows it down to the things it is actually good at doing. A strategic plan also helps you determine where to spend time, resources and money.
So how do you develop a strategic plan?
- Take time to review your own personal objectives – the business is there to provide you with what you want from life.
- Look at where you are now, your strengths, weaknesses, opportunities and threats. Take external advice so you have a clear understanding of your position in the marketplace, the competition, your systems and the way you do things, and what you are good at and what you are not.
- Focus on where you want to be (say) in 2 years, what you want your business to look like when it is running profitably and successfully. Then you can determine your priorities – the big issues that you need to focus on – this is the strategic plan.
- Write down your vision and define what you must achieve and the actions you need to take. Monitor how you are doing towards your vision each month, what actions have been completed and what needs to be done to keep you moving towards your plan.
- Allocate responsibility for taking the actions.
- Monitor, review and adjust your regular activities to keep you on track towards your plan.
We can help you analyse where you are now, set a strategy, agree actions and monitor them.
Please talk to us about how we can help you achieve your goals – we have supported many of our clients to grow and succeed.