Your business can’t grow without an effective Strategic Plan. It takes time and effort to plan well and keep the plan relevant. It is quite an investment of time and thought, but it pays for itself many times over. In addition, the plan must be managed carefully. The design of methods used to achieve the objectives must always be on the manager’s radar. A well designed Strategic Plan is an outstanding management tool! Check your Strategic Plan against the following checkpoints:
1. You’re happy with your business results.
2. Your operations are congruent with your strategic objective.
3. Your employees understand and execute their roles in your plan adequately.
4. Your performance goals are measured and adjusted as needed.
5. You handle deviations from your goals appropriately.
6. Your hiring decisions are linked to your Strategic objectives.
7. Your plan shows how you will expand your staff.
8. Your plan shows when you will move aside and shift some decision making to others.
9. Your plan is explicit about how your business will grow.
10. Your strategy allows for environmental and technological changes.
A tight Strategic Plan is an excellent foundation for securing additional funding and convincing others of the value of your Mission. This type of planning involves creativity and brainstorming. There is no perfect way to do it. That’s why your plan should allow for a little flexibility. The better you understand your industry, your business and where you want it to go into the future, the better your Strategic Plan will be.
“Every successful enterprise has a very clear strategic purpose.” Mitch Daniels
“Most People end up owning a business by accident. Therefore, they don’t usually have a thought process and strategic vision.” Carol RothShare This: