Even the smallest business can benefit from Strategic Planning and, as with a Business Plan, the real benefit comes from regular review.
If not, how will you know that you are making progress in the right areas and in the right direction?
Strategic Planning, in its simplest form, is looking to the longer term future of a business. A Strategic Plan looks at the internal and external situation, sets goals and targets, and from there outlines the strategies that will achieve them.
A strategic planning session should look at every aspect of the business over the next three to five years. It isn’t enough to just look at one or two isolated areas, as you won’t get the full picture.
- Are you heading in the right direction with the plans you currently have?
- Are the small changes you’re making congruent with the big picture and your business goals?
- Do your business and personal goals align, or are you setting yourself up for problems later when they conflict?
Once you’ve looked in detail at the whole business and taken your personal and family aspirations into account, you can start to build an action plan. This can be broken down to form small steps with milestones along the way that you can work towards.
That sounds great, but what area should be considered? There may be some that would be specific to your business, but a starting point would always include the following:
- Finance / Investment
- HR / Recruitment
As you can see, some of these are outside of our area of expertise, so it would be at this point that we would call in your other advisors, or call on our extended networks of associates for support if there is none available.
During the process, we usually find a few obstacles that are currently stopping you reaching your goals. Every business has them! Once we know what they are, we can work with you to formulate a plan to overcome them.
Once established, strategic planning reviews should be built into your regular review process, whether with us or internally, providing you with the proof that you’re making real progress, and the related motivational lift that should follow, or showing you which areas are lacking the focus to do so.
Businesses that have a clear strategic plan that’s regularly reviewed are statistically proven to dramatically increase their chances of hitting their goals for success. If you’d like to be one of them, contact us now to discuss how a completely bespoke strategic planning or review session could help.
Take a look at our Info Centre Planning page for articles and posts that provide more detail around planning in your business.
Using our knowledge, commercial experience and technology we can also provide a whole host of additional business growth advice and support.
What we give you…
Our service is entirely bespoke but we include a range of additional features in our service for every client at no additional cost.
Management & Growth
Visit this section of our Info Centre for wide ranging posts and articles to help you develop your business.
Can I just say we are so pleased that we have moved to Baranov Associates. As we discussed when you visited, we had to find a way to take the stress out of all of the financials and you’re doing that for us! We can see how to use Xero more efficiently and so with us being as on top of it as we can be and with you and Liz we feel a lot more confident about our business being in good shape.
Mrs S James, Sandbanks Capital Partners Limited
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