Strategic planning is used to determine or re-assess the vision, mission and goals of an organisation; and, then map out objective (measurable) ways to accomplish the identified goals. It allows businesses to be proactive rather than reactive and increases operational efficiencies, increases profitability, and makes a business more durable and, therefore, sustainable (more likely to be around for the long term).
How do you fair in terms of our strategic planning checklist? What do you need to do ahead of the new financial year to ensure that you have clear direction and focus which is understood by all?
- There is a current vision for the business
- The team know the vision and can communicate it clearly, internally and externally
- There is a current mission / purpose of the business
- The mission and purpose are known by every member of the team
- There are values for the business
- The values are known by all team members and lived by everyone
- As the owner I work more ‘in’ the business than ‘on’ it
- An annual strategic plan or roadmap is in place for the business which encompasses high level SMART goals for finance, sales, marketing, human resources, technology and operations
- A SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) is conducted at least annually for the business with results fed into the plan
- A PESTLE analysis (political, economic, social, technology, legal, environmental) is conducted at least annually for the business with results fed into the plan
- Progress is measured on a regular basis and individuals or teams are held accountable to fulfil actions/tasks
- Funding streams and performance is measured and reported, variations are managed
- Resources are allocated to achieve the chosen tasks and goals
- Internal communication is open, honest and regular across the business – wins and losses are shared with the team
- Each member of the team knows how they contribute to the bigger picture
If you have more questions on how to fill some of your strategic gaps, reach out to Gwyn our General Manager – Business Advisory – email@example.com or 022 417 0146. Alternatively, complete our free Business Check Up and Gwyn will be in touch.
“I have over 20 years’ experience marketing, leading people and building innovative, successful businesses. I have performed CEO and GM roles for a variety of companies from luxury products through to high volume brands exporting to over 25 markets around the world.
Having been a business owner myself, I have coached and mentored over 450 small business owners. Using my experience in retail, manufacturing, wine, export and software industries, I am passionate about helping SMEs in strategic planning, business development plan and execution, mentoring and coaching.
In my spare time, I enjoy riding motorbikes, travelling, diving, gardening and spending time with friends and family.”