Strategic Planning for Small Business
What do you think of when you hear 'strategic planning'.
Many businesses - small and large give little to no attention to this incredibly important tool that can help guide and develop your business. A strategic plan can remind you of strengths, keep your awareness on the competition and help you set and keep objectives.
Every year after Thanksgiving, I start to examine my strategic business plan (SBP) for the upcoming year and by mid-December I have set goals and laid out the strategy to achieve them. By January 1st of the coming year, the plan is in place.
I just don't store my SBP in an icon on my desktop and not look at it again for months, rather I print it out keep it nearby and revisit it often. As a solopreneur, I must keep a consistent eye on it to make sure I am working toward my goals. By the end of the year, my SBP is overwritten, coffee stained and has notes for the next version.
If you own a small business or you are a solopreneur, I invite you to start looking at your business strategy - where do you want to be in five years? How are you going to get there? A strategic business plan provides the insight and long range vision on the direction you want your business to go. Start now - where do you want to be in the future and design a plan to get you there.
Scott Howard is a professional executive coach and leadership coach focusing on human empowerment and maximizing potential.