A commonly asked question I hear is, “what is a strategic plan?” The short of it is that you need one to achieve your biggest business goals, so let’s spend a few minutes together breaking down what it is, and how it works.
I’ll start with this analogy. Let’s say you’re heading out on a road trip. You plan on driving to Acadia National Park and you want to arrive on Saturday to enjoy your week-long vacation. Your vision is to spend a week in the park, so you set the goal to pack what you need and book the accommodations. Ultimately, you need the right tools and directions to make this all happen.
This process shares what it’s like to have a strategic plan in your business. The end goal, what you need for your journey, and the directions to get there. Simply said - your strategic plan is your business’s successful roadmap for the future.
Watch the video below or keep reading to learn more!
How a Strategic Plan Works for Your Small Business
To explain how a strategic plan works for your business, we need to start with the ultimate vision for your business. The trick for unlocking this is to not think about any obstacles and truly envision what our business can be. Many times, I start by asking my clients about the story behind their business. Why? Going back to the why can often lead to the client’s ultimate dream.
Once we have the vision we can work our way backward to develop the strategic plan, or the roadmap, for you to follow to reach your destination. We then set up SMART goals for you to achieve and collect what you need to accomplish the final vision.
Basic 3-Part Strategic Planning Process
The 3-part process below is the very basics of a strategic plan. Using these three parts will help you create a foundation to get started on the right track.
1. Vision & Mission - We’ll define your business and its values to create a mission statement that serves as your brand’s compass. Everything else in your strategic plan will point back to these statements.
2. Future Vision - Where do you see your business in 1 year? What about 5 years? How about 10? Let’s look towards the future and dream up your full potential. Your business can become exactly what you want it to be, but you have to define that vision first.
3. SMART Goals - The goals are what you need to drive towards reaching your future vision. We’ll create SMART goals to develop measurable, actionable goals you can achieve. Each goal you achieve will help you get closer to your ultimate vision!
Why Your Small Business Needs a Strategic Plan
Remember how I said we can unlock the vision of your business by first ignoring any obstacles? That’s not because we won’t tackle those obstacles along the way, but it’s so we can let go of any fears during the planning process.
Fear is a totally normal feeling while tackling major business goals. In fact, having some level of fear is a good thing because it means you will stretch and grow to reach your future vision. Without the strategic plan in place, you might never reach those goals because you may let fear or (worse) inaction hold you back.
Having a documented strategic plan in place will help you follow a roadmap to your final destination. Instead of a trip to Acadia National Park, you’ll have the successful, and profitable, the business you’ve always dreamed of!
How does that sound?
I have two ways of helping you through the process of creating your strategic plan. I can help through my signature Strategic Planning Services or my online course Planning for Profitability. I look forward to helping you achieve your business goals!
