Do you want to make a good living? Do you want to create wealth? Do you want to create something that is greater than yourself? If the answer to any of these questions is “YES”, you need a plan, a Strategic Plan.
Strategic planning has many elements and I need to inform you that a meaningful strategic plan is a lot of work. However, the benefits of a well thought-out plan is well worth the sweat equity and countless hours that are invested.
So, what are the elements of a good strategic plan?
- Vision Statement
- Mission Statement
- Competitive Analysis
- Market Analysis
- Product/Service and Technical Analysis
- SWOT Analysis (Strengths, Weaknesses, Opportunities and Threats)
- FMEA Analysis (Failure Mode Effect Analysis)
- Financial Forecast
Seems like a lot of work? It is. By venturing into your own business, be prepared to work harder than perhaps you have worked before (military experience excluded!). Most business ventures fail within the first three years of operation. You will see that the probability of success is exponentially improved by a well thought-out strategic plan.
We will offer you the tutelage and process to put together a meaningful strategic business plan. We will ask you the tough questions, and the answers to many of them you may not know initially. However, through diligence, you will. A strategic plan is not only necessary for success, it is essential for you to obtain the needed financing required to support your business endeavor.
Once the Strategic Plan is developed, we will use a tool called Strategy Deployment to assure that the objectives in your Strategic Plan are realized. Strategy Deployment is a rigorous process which distills your strategic objectives into monthly measures. When the monthly measures are not attained, there is a countermeasure process which you will undertake to get your organization back on track. Strategy Deployment is a proven practice utilized throughout the business world and I am sure you will find the value in the process.