At the end of the year, it’s natural to reflect on the previous twelve months and to take stock of the year’s accomplishments and challenges as you look ahead to your goals for the year to come. And doing so in a systematic and well-documented way can do wonders for your business. Strategic planning isn’t just for large companies – it’s an essential element for businesses of all sizes.
December is the perfect time to take the lessons learned from the past year and turn them into an actionable strategic plan to carry your business forward. To get you started, here are the three questions we use to create a strategic plan that will keep your business on track and growing.
This is a moment for honesty. Evaluate your business’s performance against last year’s goals. Where did you have success? Where is there room for improvement? Check on your sales and financial benchmarks, your client feedback, and any other data you have.
This is also an opportunity to check in on your mission and vision statements to ensure that your work continues to align with your core values.
Whether you’re aiming to expand your product offerings, open a new establishment, or grow your clientele, set clear, specific goals. You need to know precisely where you’re headed before you can figure out how to get there.
Once you’ve listed out everything you want to accomplish, start to think about resources (including time) and pare down or prioritize your list to focus on your most important goals first. Maintaining focus will help you have real success.
It’s time to take your goals and good ideas and lay out a plan to accomplish them. Just like with goal setting, be specific here. For each goal, identify tasks that need to be accomplished, resources that need to be obtained, and a realistic budget to make it happen.
A strategic plan is not static. Revisit your plan regularly to evaluate how things are going and where adjustments need to be made and don’t be afraid to make changes if need be. We recommend setting aside time at regular intervals or big milestones to make sure your business stays on track.
Need help with strategic planning for your business? We’re experts! Drop us a line at [email protected]to learn more about how we can help your team Rise to Every Occasion.