A Strategic Business Plan Is Vital To Your Business Success
Developing and implementing a strategic business plan is not traditionally something that business owners are particularly good at.
You spend most of your time managing the business operations, and when you are not doing that you are trying to find some work - life balance. Day to day issues have to be dealt with and your normal work day routine leaves little time to sit back and think of ways to improve the way you do things.
The problem is that the business world never stands still. Technical innovation, customer demographics, market trends and economic conditions all impact on your business and if you don't find a way to stay in front of the changes, your business will suffer.
You need to find the time to work ON your business rather than working IN your business. You need to be a LEADER in your business rather than just a MANAGER.
Yes these are overused phrases, and yes they are easier said than done - but that doesn't mean they are not true. The success and long term viability of your business depends on your ability to develop and implement a strategic business plan.
The process starts with you developing a vision for your business that creates an understanding of why you are in business and what you are trying to achieve. A clear vision provides a context for all business decisions and drives you as the owner to think long term.
The vision for the business should be based on the personal goals of all of the owners so that the achievement of the business goals will also deliver personal satisfaction to the ownership group.
Once a vision is established, a plan needs to be developed to deliver the vision within a set timeframe.
A strategic business plan needs to allow for constant changes in the business environment so it is never set in stone. The process needs to be flexible, but always focused on delivering the long term goals.
A strategic business plan is the link between the owners' vision for the business and the day to day operational management needs of the business. It is the key ingredient to your ability to build a High Performance Business Model.