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Blueprints for Success:
How to make strategic planning work for you.
Why is it often so difficult for aspiring entrepreneurs to turn their desires into hard-core business? They start with great ideas, dreams and desires but they just don’t seem able to actualize these visions. For many, the key factor has been a lack of understanding of the necessity for strategic planning at the very basic levels. Small businesses think either that they are too small to worry about strategic planning or if they realize the need at all, many do not have the necessary knowledge and guidance to get them on the right track.
I have my business plan so why do I need to bother with writing yet another plan? Many do not realize that strategic planning is different from writing a business plan. A business plan is written when starting something new such as a business venture or launching a new product; however, a strategic plan looks toward growth and development.
According to a Watson Wyatt Work Study, “companies whose employees understand the mission and goals enjoy a 29% greater return than other firms.” People who are a part of the creation process will feel greater ownership over the product and be willing to work toward the vision.
Strategic planning creates a vision of the future and aides you as you work toward that expectancy. You create your vision, mission, and strategies that in turn, focus your efforts toward your original vision. Your plan aligns your short-term decisions toward your long-term goals.
Strategic planning answers the three big questions:
- Where am I today?
- Where do I want to be in the future?
- What should I be focused on today in order to make it more likely I’ll get to where I want to be in the future?
Strategic planning is a reasonably simple process that provides incredible power to energize your organization and bridge the gap between long-term vision and day-to-day strategies for growth. Beginning the process, you articulate that all-important vision, which will then enable you to lay out your mission statement. From that mission statement, you are then able to develop strategies, which will allow you to achieve that vision. By breaking those strategies down into specific measurable goals, you set yourself along the path to success. The goals allow you to articulate specific key results that lead to further action. All of these steps are necessary in order to propel you along the journey toward seeing your original vision come to fruition.
Strategic planning makes an almost immediate impact with respect to your organization. It helps to build team identity by developing consensus, commitment and trust. In addition, it establishes personal accountability by outlining specific measures and action steps. Strategic planning causes people within your organization to think about the big picture. It helps team members communicate with and listen to one another’s fears, insights, and dreams. This type of planning enables you to get the team on the same page, creating a shared vision. It will also provide a non-threatening arena for discussion.
There are plenty of benefits to bringing in an outside agency to assist in strategic planning. By working with an independent guide, experienced in strategic visioning, the organization is able to accomplish a better job within a shorter time frame. An experienced facilitator is able to bring out the participation of all of the team working on the strategic plan without just advancing the agenda or opinion of the person leading the process from within.
Many entrepreneurs will agree that in order to see your future success materialize, you need to get it down on paper in front of you. After all, if you wouldn’t risk taking a holiday without a map, why would you embark on a business venture for the next five or more years of your life without an idea of where you’re going and how you’re going to get there? Strategic planning is a powerful process that will help you reach that destination – don’t you owe it to yourself?
—Melissa Davies
President and Founder of Wise Ways Consulting, Inc.
melissa@wisewaysconsulting.com
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