Strategic Planning

All small businesses should do yearly strategic planning. Your strategic plan for a given year isn’t written in stone, as your strategic activities may change as the year progresses. But most pieces of a strategic plan stay constant for the year, as you work to reach the goals you’ve set to move you further toward success.

You can choose from any number of methodologies to develop a strategic plan, but the components and the template presented here have all the required critical pieces, that you can tweak to meet your needs.

Vision

Where is your business headed in the next 5 years? Everyone is your business should be aligned with you on your vision and moving with you in the direction required to make it a reality.

Mission

What do you do every day? What are you trying to achieve with the actions that you take at your business, each and every day? What is the underlying reason you went into business, and what drives you to stay in business?

Internal Assessment: Strengths and Weaknesses

What is happening within your business? What are your business’ greatest strengths? What gaps do you need to address in order to continue fulfilling your mission and working toward your vision?

External Assessment: Opportunities and Threats

What is happening outside of your business? What opportunities are arising that you could potentially leverage? What new threats are emerging? What response from you is required and appropriate?

Strategic Goals

What will you focus on this year? What critical success factors will you need to keep on your radar? What specific goals will you set in these strategic areas?

Strategic Activities

Now that you are clear on your short term goals, how will you achieve them? What specific activities must be completed?

Workplan

Who will complete what strategic activity? When will that happen? How will you prioritize your strategic activities to ensure that the most important ones get done as soon as possible?

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Watch our webinar on Strategic Planning!