Home
>
Strategic Planning
>
Ten Steps To A Great Strategic Plan

Ten Steps To A Great Strategic Plan

Ask a small business owner about their strategic plan and they'll either laugh or get that stricken look in their eyes. Yet it's well documented that businesses with a strategic plan are more successful. No matter what size business, from solo practitioner to hundreds of employees, a thoughtful strategic plan will help you achieve your dreams.

Many business owners don't go down the strategic planning road because they are a little intimidated by the idea. They don't know how, they are not familiar with the terminology and simply don't know where to begin.

We can remedy that. A couple of preliminary principles to understand: a strategic plan is not a long to do list ? it's about the big picture, your approach to the market, and the metrics you'll use to measure your progress. Strategic planning is a bit of an oxymoron. Strategizing is a creative process; planning is a rather linear process. So be creative first, then organize into a plan. To keep the creativity in the strategic planning process, remember that it's not etched in stone. You create it and you can change, modify and tweak it as needed.

Here are ten steps to creating an effective strategic plan:

1) Start by listing five or six values by which you want your company to operate. Be honest and be real. If intensity is part of your culture, say so. If fun is part of your culture, say so. There are no right and wrong values.

2) Write out your company's brand promise. This is the one unbreakable promise you make to your customers. For example, our brand promise for EWF International is "Real-life, real-time business help in a confidential community of peers."

3) Articulate your vision. Get clear on what you want your company to look like long term. Though you are thinking about some point in the future, describe in present tense terms what your company looks like in five to ten years.

4) Set big goals. Goals are desired outcomes, not a description of actions or activities, but the final picture. For example, "Achieve 95% customer satisfaction" as opposed to "Improve our customer service process." Your goals should be ambitious and achievable, not bravado. Choose three to five big goals that you want to accomplish in the next five years.

5) Now it's time for numbers. Choose three to five key metrics that drive your business. Of course everyone tracks income and expense, but what key numbers, ratios and percentages, specific to your industry and your business, do you need to faithfully track weekly and monthly? Don't overcomplicate this, simply ask yourself, "What numbers need to go up or down for this business to be successful?" For example, if you're in retail, you might want to track profit per square foot. A professional services firm might track billable hours. You might track client retention or profit per client. There is no one set of numbers relevant for all businesses, but you know best how your business works and what needs to be measured. Then choose one critical number that needs to be watched carefully and immediately. Often this is a measure of some activity, one aspect of the business or someone's job. For example, how many sales calls do you need to make each week to get new clients? How many new strategic alliances do you need to expand your market?

6) Next it's time to think about what actions need to be taken in the next 90 days to move you toward your goals. For example, technology improvements, marketing connections, staff training, new equipment, better financing, certifications, strategic alliances. Review these actions every quarter and determine new actions for the next 90 days.

7) Determine accountability ? you must determine who is responsible for what by when. Use a simple three column chart to track the initiatives.

8) The most often overlooked part of a strategic plan is celebration. You and your team will work hard to implement the plan. Decide in advance how you will celebrate. What's the reward? It could be bonuses or some new piece of technology you've wanted, a company party, whatever sounds fun to you.

9) The next step is to have each person set weekly priorities, and from those priorities each person chooses the #1 priority for their week. This simple process, when written and tracked faithfully will create the biggest difference in your organization.

10) Above all, don't worry about perfection and keep it simple. Your plan is not going to be published and critiqued. It only has to make sense to you and your team. The purpose is to be focused and intentional, yet flexible.

Have fun with it!

? 2004 Darcie Harris

Darcie Harris is co-founder of EWF International?, an Oklahoma based firm providing peer advisory boards for women business owners and executives. With 30 years experience in marketing, sales, management and entrepreneurship, she is achieving her dream by helping others achieve theirs. EWF International? franchises are available throughout the Southwest.
http://www.ewfinternational.com

Lincoln Stretch rentals Alsip ..

In The News:

Tech guru Kurt "CyberGuy" Knutsson offers solutions to fixing a personal computer that freezes up. There are a number of reasons this might be happening.

The rollout of Apple's iOS 17 brought a subtle "Rebound" notification tone that's gotten some criticism. Kurt "CyberGuy" Knutsson explains a fix.

Fitness centers and workout studios are starting to establish policies that prohibit shooting phone videos to protect people's privacy.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents

Apple recently notified a small number of iPhone customers in 92 countries that their phones may be under attack by mercenary spyware.

An artificial intelligence-powered home security system can fire paintballs and tear gas at trespassers. The camera identifies human faces and animals.

Technology expert Kim Komando gives her tips and tricks on enhancing your user experience a smartphone and other devices you use everyday.

A new camera called NUCA uses artificial intelligence to create deepfake photos of subjects by stripping away clothing in close to real time.

The Kimberley Kube trail-ready camper has a compact but spacious design and combines luxury, functionality and ruggedness for a weekend getaway.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Emails instructing you to reset your password for an account may be legitimate, or they may be scams. Kurt "CyberGuy" Knutsson explains.

Northrop Grumman's Manta Ray uncrewed underwater vehicle aims to revolutionize undersea missions — it glides through the ocean without human assistance.

Learn how to work Google's calendar application to streamline and organize your daily tasks from technology expert Kim Komando.

If you do not want Facebook to have automatic access to your private photos, follow our tips to protect yourself. Kurt “CyberGuy" Knutsson shows you how.

Kurt “CyberGuy" Knutsson goes into detail about Apple’s recent iOS update that allows iPhone users to instantly translate spoken language simply by using the Action Button.

Safeguarding your digital life with a reliable physical backup isn't just a precaution, it's a necessity. Kurt “CyberGuy" Knutsson provides the essential backup checklist.

Kurt “CyberGuy" Knutsson reveals how a Redditor exposed false recycling claims at their apartment, highlighting a report that only 21% of U.S. recyclables are processed.

Kurt "CyberGuy" Knutsson offers a travel toolkit featuring five technology tools to help you with booking flights and hotels for your summer vacation.

The bubble behind the clock on your iPhone can appear in different colors. Kurt "CyberGuy" Knutsson explains what each of those colors mean.

Scammers are using the power of artificial intelligence to mimic voices of people and are using the fake voices to commit crimes, like kidnappings.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Tech guru Kurt "CyberGuy" Knutsson explains the science behind the Invisibility Shield, a 6-foot shield that makes people become invisible.

The International Olympic Committee on Friday announced plans to use AI in various Olympic aspects, including athlete identification, training and judging.

Tech guru Kurt "CyberGuy" Knutsson explains an easy trick to avoid squinting while working or surfing the web by zooming in on your personal computer.

Streaming giant Roku has recently been targeted by a pair of cyberattacks, and the company confirmed over a half million Roku accounts were compromised.

Ten Steps To A Great Strategic Plan

Strategic Planning