Strategic Planning: What is your Businesses Reason for Existence? by Justin Woolich
As business owners and managers we are quite often caught up in the day to day work of running our businesses, dealing with clients, managing staff, developing new products and more often than not putting out fires. After all of this “work” is done there is no time left (or more importantly no energy left) to spend on what I consider to be the most important work that we face as business owners and managers, Business Development.
It is no wonder that the average business struggles to reach the size, profitability and success that urged the founder to start it in the first place.
What can you do to ensure that your business remains focused?A Strategic Plan will guide your business, assist you with important decisions and keep you and your employees on track. It will identify your businesses reason for existence and define exactly what success means in your business world. Most importantly it will guide you and your employees along the path to business success.
You need to compile your Strategic Plan into a document. It is simply not good enough to state that it is stored in your head. You will find that once you have committed it to paper (or electronically) you and your business will start rapidly moving towards the goals you have identified in your Stragtegic Planning Document.
What do you put into a Strategic Planning Document?- Be concise and to the point, you do not want to produce something that is difficult to read and update and irrelevant by the time it is completed.