EFFECTIVE STRATEGIC PLANNING STARTS WITH THESE STEPS
The strategic planning process is a critical resource for managing the growth and development of your business. It defines the company’s future direction and provides a focus for everyone’s efforts. At the very least, planning should include goals, objectives, and action steps to achieve goals.
Here are the elements of an effective plan. And some tips for testing whether you have got each element right:
Do you have an emotional attachment to your vision? It should represent what you really want. Or is it primarily a collection of nice words for others to read? Does it inspire and energize you to get up every day and work at your business?
Your vision statement should answer the question of “What does success look like?”
Use your imagination here. Invent a world where everything seems possible. Then, set about making it become a reality.
Values are the principles or standards by which you do business. They serve as important guidelines for everyday behaviors and decisions. Your values will guide every decision, every hire, every strategic objective. Indeed, the most important thing you can do at work every day is to communicate your values to others in the organization. Especially new hires.
Do your core values have clearly defined expected behaviors associated with them?
Have you defined specific objectives that you are committed to accomplishing? Will they help you take a giant step toward your vision? What is it you need to do to live your values? Do these objectives define what you clearly want and/or need?
Be clear on what it is you want to say that you accomplished over the next year or so.
Critical Goal Categories
What are the critical few areas that you must address to accomplish your objectives? These serve as the foundation for setting goals and to achieving your objectives.
Have you identified your market focus? What are your top 2 priority market segments?
Have you aligned your marketing resources (time and $) and defined specific goals to focus on these sectors?
Being dialed in on who your target market is will help you with marketing strategy, marketing tactics, and sales.
Goals & Action Plan
Have you established S.M.A.R.T. goals in each of your Critical Goal Categories? Do you have an action plan of “who will do what by when” for each goal?
What strengths are you leveraging to differentiate yourself or to help you accomplish your objectives?
What limitations are essential to overcome to achieve your objectives? Does your plan include specific goals or actions to make it happen?
Have you created a review and accountability process to help keep you on track? Surely this may be one of the most important things that you do!
Do you get stuck in the process of thinking and developing a plan which will drive your business forward? Are you inspired and have a plan but are not getting the results that you want?
If so, we should talk. Contact me today.
If you need a copy of my Free Strategic Planning Template, put your email address below and you will receive it by the end of the day!