They say that standing still is the same as going backwards.
As a business owner, I’m sure you want to develop your business and grow it year on year. One way you can do this is by ensuring you set regular business goals and objectives, and have a plan in place.
A strategic plan can sound pretty daunting to a small business – you may even be thinking…where do I even start? This blog will show you a simplistic framework for your business to help you create a one page strategic plan.
Let’s start with the 3 main components on your one page strategic plan and ask yourself these 3 questions:
- Where is your business now? – Clarify your vision and review your current strategic position.
- Where is your business going? – Compared to your competitors, what makes your business stand out? Once you figure that out, what are you going to do to make this your advantage? Set your business a stretch goal, where do you see yourself in 1 year? In 5 years?
- How will your business get there? – This is where you need to connect all the dots, set goals, objectives and an action plan for how and when you expect to execute actions and reach your goals.
You then need to include a ‘mission statement’ e.g. the essence of your business.
Defining your ‘essence’ in your one page strategic plan can help you and your staff focus on what your business represents. It is an overarching statement that expresses the purpose of your business and what it stands for. It doesn’t have to be long; every mission statement is completely different for every business – it needs to be just right for you, even if that is only one sentence.
3 helpful tips for creating your one page strategic plan
When it comes to a one page strategic plan, it’s best to start big and work your way back. This way you can dream big and then rein it back to realistically suit your business. Whether it’s you going alone or you have 10-20 members of staff, you all need to be heading in the same direction for your business to be successful.
- Make time to create your vision – it may not click straight away. As well as thinking about your customers, you need to think about yourself and your brand – thinking big can take time. Involve the team, get them to contribute to the vision.
- Create an actionable plan – there’s no point in creating goals that are impossible, as this can de-motivate your staff. Create reachable but ambitious targets. Clearly state goals, responsibilities and deadlines that need to be met so everyone can understand the plan and have a clear role to play. Measure results.
- It’s okay for your plan to be flexible – you can have a bit of wiggle room because realistically, things change. Therefore, don’t be afraid to adapt your strategic plan according to circumstances; if you exceedingly reach a goal sooner than you thought, adapt your plan to higher ambitions.
Want to know more about strategic planning and how it can benefit your business? Contact our team of marketing experts on 01522 581 911 or email firstname.lastname@example.org
View our blog archive to see more great articles like this one.