Strategic Planning for Your Small Business

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High-Performance Company Characteristics

What makes a great company great? When it comes to strategic planning, becoming the best at something is often achieved by modeling the behaviors of winners and putting those behaviors into practice. Here [more…]

Successful CEOs Invest Time in Strategic Planning

Have you ever wondered what the guy next door is doing all day? Or, more interestingly, what are the CEOs of growing organizations spending their time on? If you could just be a fly on the wall in the [more…]

Strategic Planning: Everyday Decisions Drive Return on Investment

The benefits to strategic planning are intangible and show hard bottom-line return on investment (ROI). Every day, your work impacts aspects of your business. Following these tips can help you realize [more…]

Strategic Planning Has Bottom-Line Impact

Business owners care about strategic planning is because it does make a financial difference. To verify this, in 2004, a research study of strategic planning and strategy execution of 280 firms was conducted [more…]

Strategic Planning: Agility Is a Competitive Advantage

Is being agile on your strategic plan’s list of competitive advantages? Can your business react and change its game plan based on either customer feedback or shifts in market, all while keeping that end [more…]

Strategic Planning: Getting Employee Buy-In

The process of strategic planning achieves the outcome of aligning each employee with the organization’s mission. Gallup conducted a study of more than 80,000 managers in 400 companies to determine the [more…]

Be Sure Your Strategic Plan is Clear

Being precise and having a flow to your strategic planning process helps you stand out from the crowd when giving that pitch. But remember, standing out from the crowd takes going through the strategic [more…]

A Strategic Plan Saves Time and Money

Ideally, you want to align your human and financial resources as closely as possible with your strategic direction to eliminate wasted time and money. Stop for a moment and reflect on the hundreds of meetings [more…]

Review the Past to Create a Strategic Plan for the Future

You can move faster into the future by avoiding roadblocks and pitfalls you’ve already encountered to identify strategic issues you need to address during your planning process. Strategic issues are critical [more…]

Strategic Planning: Evaluate Your Products and Services

While you’re developing a strategic business plan, you can identify which products and services to use to grow your company by looking at the financial performance of your products and services over the [more…]

Strategic Planning: Identify Your Best Products and Services

Unfortunately, many organizations produce unprofitable products and services for a variety of valid reasons. Strategic planning is about driving the right decisions, based on facts, even if they’re unpopular [more…]

Strategic Planning and the Market Attractiveness Framework

After you’ve determined which products or services make money and which ones take money, evaluate which ones to invest in by looking at how attractive the market is. [more…]

Strategic Planning: Understand the Financial Dynamics of Your Business

Evaluating your financial situation is part of your strategic planning process, because the financial health of your organization is critical to your corporate growth. Want to know how your business is [more…]

Strategic Planning: Recognize Past Achievements and Failures

Everyone wants to feel successful and recognized for a job well done, but human nature is to brush by achievements. By listing what you achieved last year as an organization, you help motivate and inspire [more…]

Strategic Planning, Phase 3: Develop Your Strategies and Priorities

Once you have addressed where you are and where you’re going in your strategic plan, then you can focus on how you’ll get there. Use your SWOT analysis to stay grounded and realistic as you build a road [more…]

Strategic Planning, Phase 4: Cascade Your Strategies to Operations

Cascading action items and to-dos for each short-term goal in your strategic plan is where the rubber meets the road — literally. Moving from big ideas to action [more…]

Strategic Planning, Phase 5: Align Your Resources

Now that you’ve established a clear direction and the road map to get there, your strategic planning team is ready to align the strategy to resources. Specifically, in Phase 5, you align financial resources [more…]

Strategic Planning, Phase 6: Execute Your Plan

Executing your strategic plan is as important as — or even more important than — your strategy. The majority of organizations that have strategic plans fail to implement them [more…]

Select Your Strategic Planning Team

The values and vision of your organization are embedded in the strategic framework. As a result, involving the whole organization in at least part of the planning process is vital. Although everyone can’t [more…]

Strategic Planning: Do It Alone or Hire a Facilitator?

So just when should you hire an outside facilitator for your strategic planning process? In an age of consultants, organizational leaders, and planners for everything under the sun, hiring a helper doesn’t [more…]

What to Look for in a Strategic Planning Facilitator

When selecting a professional to guide your strategic planning session, be selective. Facilitation is different from public speaking or training. It’s not about having solid content, good platform skills [more…]

Strategic Planning: Determine Your Competitive Advantage

Your competitive advantage(s) is the foundation, the cornerstone of your strategic plan. It is what you, your company, or your department does better than anyone else. It’s what makes you unique. It’s [more…]

Strategic Planning: The 30-Second Competitive Advantage Challenge

Knowing how to define your competitive advantage in your strategic plan is the first step toward applying it to your organization. Ninety-five percent of all companies don’t know their competitive advantages [more…]

Strategic Planning: What is (and isn’t) Competitive Advantage?

Often starting with what something isn’t is easiest. So your competitive advantage isn’t a list of your strengths. (Not to downplay strengths, because they’re important, too.) But if your competitive advantage [more…]

Strategic Planning: Why Do You Need a Competitive Advantage?

You aren’t alone if you’ve ever wondered what a competitive advantage really is and what you do with it as far as strategic planning goes. Think of your competitive advantage as your organization’s DNA [more…]

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