Answer These 7 Questions to Build Your Strategic Business Plan
PBCA business coaches work with business owners to help them profitably grow their business, increase their personal and business effectiveness, and improve their work/life balance. One key area where we can help is to facilitate the development of strategic business plans and to help with the effective implementation of these plans using a business operating system.
In an effort to demystify and simplify the process required to develop a strategic plan for your business, we identified a list of 7 questions business owners should address. The answers to these 7 questions will help form your business plan.
The 7 Questions
1. Why does your business exist? (i.e. your ‘mission’ statement)
2. What will your business look like in 10 years? (i.e. your business ‘vision’)
3. How will you conduct yourself when doing business, both with your clients and your employees? (i.e. the ‘values’ that will define your business ‘culture’)
4. What are your goals? (your key ‘strategic goals’ over the next 5 years that will move you towards your vision)
5. What hurdles must you overcome to achieve your goals? (i.e. complete a gap analysis using the ‘SWOTT’ tool)
6. How will you achieve these goals? (i.e. specific ‘strategies’ including ‘actions plans’ to achieve your goals)
7. If results do not meet expectations, what changes must you make? (i.e. establish a process to assign accountabilities within your organization, measure results, and initiate course correction actions when results do not meet expectations)
Allocating time to work strategically on the business is a challenge for owners of smaller businesses in particular, because they are busy wearing many hats and working day-to-day just to keep their business running. Businesses that build a solid plan, coupled with a disciplined approach to implement that plan, will significantly improve their ability to succeed.
A PBCA business coach can assist business owners with the development of a strategic business plan as well as a comprehensive business operating system to ensure effective implementation of these plans within your organization.
For more information about strategic business planning, business operating systems,
and other related business needs, contact us at email@example.com.