Would you like your business to achieve more growth, profitability, or smoother operations? How would you like more free time or peace of mind?
At Business Whisperer, we use strategic planning as a powerful tool to help you get to your chosen goals. Working closely with you, we help you craft a detailed plan that prioritizes the action strategies required to reach those goals. Our support gives you an objective look at where you have been, where you are now, and where you want to go.
How Our Strategic Planning Process Works
You may have heard of SMART goals. SMART stands for “Specific, Measurable, Achievable, Relevant, and Timebound.” Our process mirrors these recommendations, since we believe that having clarity over goals, along with measurable benchmarks, is crucial for planning success.
When we work on strategic planning, we’re not focused on vague promises. We will work with you to draft a plan that is based on achieving actual numbers. For example, your plan should include projected financial statements, including Profit & Loss Statements, Balance Sheets, and your Statements of Cash Flow.
Your new strategic plan will be crafted into a well-organized whole with a clearly outlined narrative and recorded business assumptions, to drive your desired outcomes.
Here are some of the steps we take during the strategic planning process:
1. Clarifying Vision and Goals
An important part of a great strategic plan is clearly understanding and expressing your company’s vision, mission, values, and goals. This, in and of itself, can be a major undertaking, and it can be one of the most valuable things you can ever do for your company.
2. Setting Benchmarks and Timelines
Adding even more clarity comes from creating detailed financial statements and benchmarks. These strategies may be expressed in narrative form with all basic business plan assumptions included.
These benchmarks can also include projected performance data for key departments such as sales, operations, and human resources.
3. Mapping the Organizational Structure
Attention is given to mapping the organizational structure and how it might change over time, from where you are now to where you need to be. This can be important for identifying potential areas of weakness and proactively instigating effective change management.
4. Conducting Competitive Analysis
Your business does not exist in a vacuum, so we also conduct a comprehensive competitive analysis: Where is the marketplace is going, and what is my competition in the marketplace?
5. Reviewing All Systems, Methods, and Technology
Systems, methods, and technology that work fine at a certain stage of an organization may be inadequate to take the company to the next level of success. A thorough review of these – in the context of the changing demands and needs of company over time – must be undertaken to integrate needed changes into the overall plan. Being proactive with systems, methods, and technology is essential to be prepared when stakes get higher.
6. Creating Tactical Action Plans
Finally, we synthesize all these ideas into a whole and create action strategies and tactical plans for each department’s functioning. Creating timelines for each of these strategies and action plans will guide you and your team about what needs to be done over time to achieve the best results.
The Key to Business Success
The real key to business success with strategic planning lies in proper implementation.
Keeping to your strategic plan is like taking a rocket ship to the moon. If you fly from earth and try to land on a specific one-acre plot on the moon, you are going to be off target about 99% of the time along the way. The nose cone of the rocket will weave during the trip, but the navigation system (the strategic plan) will pull you back to the trajectory that you need to take.
Through this continual system of correction, you can eventually land on that one-acre plot on the moon.
Thus, the best strategy to take with your strategic plan is to make it a living document. It should be something that you look at on a regular basis – no less than every quarter, if not monthly – to assess if you on the correct trajectory.
Are you doing the things that are necessary in sales, marketing, operations, staffing, etc.? All those strategies must align, and people have to be aligned to them, to produce the overall result that you are targeting. We can help with this process.
Smart Strategic Planning to Take Your Business to the Next Level
At Business Whisperer, we are experts in SMART strategic planning. Our decades of experience in helping companies like yours succeed will lower your risk of failure and increase your probability of success.
Strategic planning is a proven path to transformation and growth. As the old adage goes, “failing to plan is planning to fail.” Contact us today to discuss how we can help define and implement your strategic plan.