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Strategic Planning

Business Without Planning Is Like A Car Without Steering Wheel,

These Are The Basic Steps As a matter of fact, one do not need to completely ignore other duties or shut yourself in a room for days to lay out your specific and strategic plans.

If you know your business like the "palm of your hand" then there is no fear to express fully in the strategic content or plan to be forwarded to an investors to clarify your requirements.

In fact, creating a successful strategic plan for your business can be done in just a couple of days if you are involved in the daily management of your business.

It do not have to be an overwhelming or a monumental task because you are not writing a story book but a realistic business strategy for a win-win situation.

It need have to be perfect or fancy but just write accordingly with the amount of experience you have accumulated over the years.

Of course, it will be more accurate to have the key people in your organisation to attend with readily reports of figures and functions.Be Specific, Be the Best

The write-up of a well-developed and executed strategic plan is to develop a competitive advantage, a reminder to the company staff and a preparation to seek business loans.

What Is The Definition Of A So-call Competitive Advantage? The answer is; about what can your company potentially do better than the market competitors?

Once you are armed with the relevant information and understand your competitive advantage is critical.

It is one of the reason you are in business and what you do best that will draws customers to purchase your product/service instead of your competitor’s.

Extremely successful companies deliberately make choices to be unique and different in activities that they are really, really good at and they focus all of their energy in enhancing over these areas.

You may decide to incorporate your competitive advantage into your vision statements to obtain financial loans.

A Mission Statement

Mission Statement is a write-up of the company’s goals, aims and purpose, it will be useful for putting the highlight on what business a company is presently in and the customer needs it is presently endeavoring to serve.

Such statement are utilize to serves as a guide for day-to-day operations and as the foundation for future decision-making for business expansion. Writing a mission statement, you need answer a few questions;

The type of business?
How to induce customers to come back?
What to do in accomplishing for our customers?
Our company’s reason and ambition being in existence in the current market?

Strategic Vision

Strategic Vision is the brand and image of a company’s future ; which direction it is going forward; how large is the customer focus it should have; achieving the market position it should try to occupy; the type of business activities to pursue, and finally planning its products and services development.

Setting up a Strategic Vision should delineate what kind of enterprise the company wishes to be and infuse the organisation with a sense of purposeful and powerful actions.

Be positively think of a bigger business growth and start to initiate future steps with the realistic question and answer; What will the outlook of the business in five to ten years from now?

Answer
it with a clear vision.

Access An Inventory

Hear of SWOT? SWOT means;

Strengths, Weaknesses, Opportunities, Threats is form of analysis to assist you look critically at your organisation to create further improvement always.

This business tool is to assist in producing a good deem fit analysis to forecast a company’s strengths, development and its opportunities.

By assessing your strengths and weaknesses you must answer these questions; To achieve the best results what must we do?

How to develop as the best ?

What to avoid in order to be the best?

What resources does our company have currently which compost of assets, intellectual property, and people? What are our company's abilities and capabilities?

How well do we fare in the current market?

Once you have assess your opportunities and threats by answering these questions, you must further ask again;What happening at the external current market that will affect our business?

What type of research must we study to find out the strengths and weaknesses of each competitor?

What development shall we implement and how are the driving forces behind sales trends? How to define the potentially important markets?

Will the gloomy global economic news or other unforeseen circumstances affect our company and business?

Build A Customer Data Base

If you wish to climb the ladder of improvement in moving your company from being just successful to wildly profitable, it is very important to meet and provide the best for your customers’ requirements to ward off your competitors.

Utilizing the present technology to create and develop a customer profile by answering; How do we define our customers needs, requirements, motivations, purchasing trends and business characteristics?

How to create and provide unique services or products as an added value to our customers? What tactics and strategy must we develop to grow our customer base?

Note All Your Goals and Objectives

Your goals and objectives are like climbing up the ladder to your mission and vision.

Base on the SWOT analysis to create realistic goals and objectives to be implemented into the customer profile. Objectives are to set the ambitious agenda, which should be broad, and global in nature for future growth.

Write down several realistic objectives that motivate you to achieve your mission/vision even it may take years to be successful, next; visualise to develop goals to achieve each objective.

All goals should be measurable, quantifiable, and support your objectives. Always think about achieving them within the shortest period or not more than a one year period.

Check your effective goals by measuring its pros and cons, give it a time frame to expect achievement.

Whom do you rely in co-operating to accomplish such goals? What are the steps and performance needed to make it a success?

Make sure both your goals and objectives build on your strengths; shore up you weaknesses; capitalize on your opportunities; and recognize your threats; do not fear or retreat, just pluck up your courage and march forward to achievement.

Assess And Resources

After the completion of your goals and objectives, it is time to do a resource assessment of your company. One of the biggest stumbling blockage to all well stressed strategic plans is the time frame and funds.

Because every business needed to circulate their funds to balance the stock and inventory at each department, therefore budgets are never big enough to do everything you want to do.

So prioritize key goals by asking the following questions; By implementing the strategy goals, does it hurt our financial sense?

Practically, do you have the human resources to achieve your strategic plans?

Action Time

Applying certain tactics will set specific actions and action plans that lead to implementing your goals and objectives.

Never rely on your memory alone but to build a what-to-do list to achieve each goals.

The fast and effective way to develop your tactics is to answer this question; Where are the obstacles and blockages currently that can denied me in achieving my goal?

Once, answer is available, utilize it develop into action and customize each goal. Start to outline the goals and assign responsibilities and deadlines to your staff for ensure implementation.

One of the effective method is to request and assign your staff in committing to accepting the task, and write the action plan with full responsibility to task accomplishment.

Keep Account Of The Goal Scores

Since you have written the goals that were measurable, why not put them on the office scoreboard or load them in an excel file for reference and also to track its progress.

By applying such methods it assist in guiding your company towards achieving your visioned goals. It will chart out what is missed out, details of each implementation, data of who helps in making the every success of the company goals and time frame in achieving the mission.

Strategy Habits

Being the owner, shareholder or executive of the company, one have to be devoted and be committed to the successful implementation of the strategic plan which is the important key factor.

All vision, goals, strategy plans require to be supported with company staff, money, time, systems, and above all communication through brainstorming sessions.

Brainstorm the vision or plan to every executive in your organization so that they can help in implement at every work force level.

Always hold quarterly or monthly strategy meeting to receive report on the progress toward achieving the goal. Do not fear, take corrective actions as and when required and adapt as the environment changes to make all relevant implementation to be effective with success.

Summary

A sentence of advice, a strategic plan or vision is not stagnant, it needs effective changes and exchange of information in order to reach achievement.

However, no matter how brilliant or excellent the plans are, it cannot be perfect or 100 percent accurate, prepare a trouble shooting list in cast of unforeseen circumstances.

Of course, companies rely on strategic plans to enhance and enlarge its business base, on the other hand a business without a plan is like a car without a steering wheel.

Anyway, a rough business draft is better than no plan at all, just note them on paper, so you can look back since the time you have started the business and celebrate your well-earned current success.

Famous Quote:
"No man ever achieved worth-while success who did not, at one time or other, find himself with at least one foot hanging well over the brink of failure".

Napoleon Hill

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