Strategic planning has been the first step for businesses and corporations of all sizes for many years. Implementing a solid and effective strategic plan beforehand can make all the difference between a successful and failing company. A strategic plan is an outline of a potential organization’s plans and goals, and how the organization plans to achieve them. Very in depth, strategic planning takes focus and paying close attention to detail.
Varieties of strategic plans exist and can vary according the type of business, size and overall goals of the company. Below is a brief outline and step-by-step guide to assist any budding entrepreneurs with getting started and on the right track.
1.Define a Purpose. Draft a mission statement. The word draft is used because as time passes and business progresses, the mission statement will likely undergo a number of changes as well. The mission statement educates potential investors and consumers about the specified product or service how it can be of value to the potential consumer. A mission statement is a paragraph, usually only a few sentences, but can be longer if the situation calls for it.
2.Define Goals. What steps are necessary to fulfill the mission statement? In a general and brief fashion, list the goals to be completed for the mission statement to reign true. This requires a deeper look into the planning process and more importantly, foresight. Consider any possible obstacles and start to find ways to overcome them.
3.Define Strategies. How will I reach these goals? At this point in the planning process, specificity is paramount. Pay close attention to anything and everything that might have an effect on the organization, look at its intentions and decide how to handle the said situation. List the specific actions and responsibilities of every employee, department and group within the organization. List alternative strategies and take a look at the purpose and goals from every angle. The more in-depth the plan to start, the lesser chance of running into any issues later.
4.Take Action.It’s now time to put our plan into play. It is important to stay on the path of the strategic plan. If your strategic plan dots every “I” and crosses every “t”, then this last step will not be a problem, as there should be no distractions.
Now that all of the specifics are out of the way, it’s time to sit back, not relax and observe your progress. Are goals being met? Is your consumer base growing? Keep track of what has and what hasn’t been accomplished and decide the next plan of action. Request feedback, take it into serious consideration and act on it.
The thought of drafting, designing and implementing a strategic plan makes it seem to be a daunting and downright tedious task. Although meticulous, a well crafted plan is the perfect first step to launching a thriving organization. The attached mind map presents the basics for strategic planning in a condensed, easy to remember format. Remember the four words to strategic planning: purpose, goals, strategies and action.