Strategic Planning

 

small business strategic planning

Learn what Strategic Planning is and why it is a vital part of running your business. This course will explain why strategic planning is important and describe typical steps taken in the process. Get the tools to create successful strategic plans that will propel your business to success. Strategic Planning for Small Business 1. Articulate Your Vision—Your Purpose, Mission & Core Values. Creating, articulating and sticking to your vision is the single most important job you have as a permitiamoss.ga: Clate Mask. Learn what Strategic Planning is and why it is a vital part of running your business. Learn what Strategic Planning is and why it is a vital part of running your business.


5-Step Action Plan for Small Business Strategic Planning


Running a small business can be chaotic. They are rooted in the philosophies of experts like Jim Collins, Verne Harnish and Tyler Norton and vetted over 10 years of real-world application.

I believe in this process and its power to help small businesses achieve success, and I know it can help small business strategic planning too. Creating, articulating and sticking to your vision is the single most important job you have as a leader. A clear vision is needed to guide and influence your strategic planning process. Your Mission should be bold, inspirational and compelling and just gutsy enough to give you butterflies in your stomach.

With your Purpose and Mission in place, the last piece you need is Core Values. Core Values should articulate what is already true about your business and culture, small business strategic planning, not describe how you want it to be:. To determine what those strategies should be, examine the company strengths that you can employ to achieve a strong return on your investments. Look for resources and capabilities you can leverage for maximum gain.

To develop a competitive advantage that is sustainable, I recommend focusing on no more than three to five core strengths. By focusing your resources on a few core areas, you maximize your small business strategic planning of success. Remember: Identify three to five strategies that are borne out of your greatest strengths, all highly focused on achieving your Mission. It can sometimes be a challenge to bridge the gap between your long-term vision and the daily operations.

Using this Strategy Planning Methodology makes it possible to connect your Mission to the annual, small business strategic planning, quarterly and even daily operations of the business. One of my favorite quotes is:. Where performance is measured, performance improves. Where performance is reported, performance improves dramatically. Where performance is reported publicly, performance improves exponentially.

During this time we do a SWOT analysis where we analyze our strengths, weaknesses, opportunities and threats. We take it a step further by evaluating the accomplishments, lessons learned and strategic issues small business strategic planning the quarter.

How do we achieve X outcome, given Y situation? By doing this, we are able to make informed decisions about what the next quarterly priorities should be. Effective strategic planning is the linchpin for your long-term business success. Grounded in your Purpose, Mission and Core Values, a solid strategy can help you develop a plan of action and maximize your likelihood of success in achieving your vision, small business strategic planning.

Business Strategy Concept Photo via Shutterstock. Your email address will not be published. All rights reserved. Powered by. Email this Article Print This Article. Clate Mask is Co-Founder and CEO of Infusionsofta fast-growth software company that helps small businesses convert more leads, save time and manage more with less with its web-based software.

Leave a Reply Cancel reply Your email address will not be published. Follow smallbiztrends. We want to hear small business strategic planning you! How do you approach energy and sustainability in the day-to-day operations of your business? Tell us! Subscribe to our Newsletter Submit.

 

Small Business Strategic Planning Guide - Keap

 

small business strategic planning

 

Jul 11,  · This post will give owners of small businesses a simple and effective process for performing strategic planning by taking a look at some common issues small businesses run into with strategic planning, the most important elements of planning that small business should focus on, and concrete steps to tackling strategic planning the right permitiamoss.ga: Seth Sinclair. The small business strategic planning process has two essential elements: devising a strategy and changing it when necessary. Charles W. Hofer, Professor of Management and Entrepreneurship at Author: Hao Li. Learn what Strategic Planning is and why it is a vital part of running your business. Learn what Strategic Planning is and why it is a vital part of running your business.