Sitepoint.com: Executives at large corporations and entrepreneurs in emerging companies struggle with the same question: “How do I write a strategic plan that actually gets implemented?”
A solid strategic plan delivers the following benefits:
1. You focus your time and energy on activities that are most likely to achieve your goals.
2. You know how to allocate resources.
3. You put a solid strategy in place to set your business apart from the competition.
4. You can communicate your plan to employees, and hold them accountable for results.
5. You can track the results of your efforts and make mid-course corrections to get back on track if you need to.
6. You can adapt your plan to create a second business plan to raise investment capital or get a business loan.
The process of writing the plan is often more valuable than the plan itself. That’s because the process focuses your thinking, and challenges you to answer some fundamental questions about your business.
Start writing today. You can write the plan on your own, but it’s better to work with other people to test your ideas. If you have a management team, you can work with them to write your plan. I know many entrepreneurs who spend a weekend with a colleague, and they work together on each other’s plans, like a strategic retreat. Or, you can hire a consultant/coach to walk you through the process.
Remember that quote from Alice in Wonderland. Too many of us are like Alice at the fork in the road, not sure where we want to go or how we will get there. Stay out of the rabbit hole and write your plan today.
Write a Business Plan that Works [Sitepoint.com]
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