Strategic Planning

Strategic planning is critical for a business's focus, effectiveness, implementation of goals, employee buy-in, resources allocation, and much more.  None of these things should be left to chance or handled in a fly by the seat of your pants manner.  This means that strategic planning needs to be completed annually and reviewed throughout the year to be sure that your business metrics are on point with your annual goals.

Often, small business owners and solopreneurs believe they do not need to perform strategic planning because they have few or no employees.  However, this is simply not true.  Even though your business may be small or a one guy or gal operation, you DO still need thoughtfully considered and expressed mission and vision statements.  These are the foundation upon which your business sits.

In additional to creating or reviewing your mission and vision statements, you also need to know what you want to accomplish in the coming year, how to prepare your business in order to reach these goals, and how you will determine if you are meeting your goals.  Do you need additional systems in place?  An increase in employees?  More marketing expertise?  Targeted financial reports?  Detailed strategic planning should answer all of these questions.

All business owners and, yes, even solopreneurs, should be diligent with their annual strategic planning.  Annual planning done intentionally will focus all aspects and elements of your business on your chosen goals and will complement your mission, vision, and values.

Additionally, if you feel that your business is unfocused and drifting aimlessly, you should consider strategic planning immediately.  However, it is much better to complete your planning before you arrive at this point of dysfunction.