Strategic planning is a powerful tool for small business owners that understand and value the process. For those entrepreneurs that are focused on growth, it’s an essential necessity for staying aligned, clear and motivated. When you can see past the short term into the future it makes everything you do all the more purposeful. Trying to decide whether you need outside funding? Trying to understand when and how to expand staff? Wondering exactly when to introduce that new product? It’s all a part of the planning process.
Let me offer you 4 ways that you can easily stay on top of the strategy and the plan as a small and busy small business owner.
- Clarify your vision and mission – See YOUR vision. Define it. Then share it with your staff, your team and all those that are involved with your business. The vision is the most important aspect of your work because it guides and directs you on a continuous basis. When the vision is clear the mission and purpose become clear as well.
- Set KEY milestones – Now that you have gotten clear on your vision, it’s time to set some milestones. This can be done collectively or by division (depending on the size of your company). Your milestones serve as markers and will help you measure and monitor your progress (across the board) for where you are and how you are progressing.
- Align your goals and objectives – Now set some broad goals and objectives around your milestones. What’s the big goal that helps you get closer to the vision? What objectives do you need to work towards? Your staff will work so much more effectively and productively when they understand how their work and time fits into the overall vision for the company.
- Stay accountable with an action plan – Distractions will always get in the way, but to stay accountable, build out quarterly action plans to make sure you stay on track. Action plans should state the responsible party or parties, the steps and the timeline you’re working with.
If you follow this simple guide for strategic planning, you’ll find it to be extremely valuable in your business.
Biz Practitioner
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