Strategic planning. It’s the difference between letting things happen and making things happen. It’s your road map, navigation, car lights, and gasoline that get you to the destination you want–not just the place you end up arriving at.
Where is that place? What does it look like? And when will you get there? These are all questions strategic planning of your organization or business can answer. Not only does it help create a plan, action items and a timeline, it can also help you get on track and feel comfortable about where you are headed.
There are many advantages to thoughtful strategic planning; These actionable items, their advantages and how to write a strategic plan will all be identified in our Strategic Planning Workshop, “Design Your Life: Make 2023 Your Best Year Yet,” on November 9, 2022 from 4:30pm – 7:00pm.
In the meantime you can get a better understanding of the advantages of such a plan by simply understanding the key to S-T-R-A-T-E-G-Y (Sureness, Trackability, Responsibility, Adaptability, Tangible Goals, Executable, Growth, and Year-Round Review).
Advantages to Strategic Planning:
S – Sureness. A strategic plan creates a sense of structure and intention which can create credibility amongst investors, employees, banks, vendors, potential employees—anyone who interacts with the organization. It is a map that guides the business and outlines what your goals are, where you want to land, and how quickly. This creates credibility, confidence and a singular owned goal amongst all parties.
T – Trackability. With a plan, goals and initiatives in hand and distributed amongst all parties in the organization, progress can be managed and tracked, hence, progress can be addressed or rewarded. Key Performance Indicators are the actionable items assigned to each team, department or individual and used to evaluate overall performance towards the strategy plan and goals.
R – Responsibility. Each person understands their part in the overall organizational picture and how their actions and decisions impact the bottom line. Because each person and department or team is given Key Performance Indicators to measure their performance, there is no surprise what is expected of them.
A – Adaptability. In order to keep your strategic plan in check, you need adaptability. Throughout the year, you will touch base and review the accountability of yourself and other participants, evaluate workplace efficiency, analyze your budget versus forecast, pivot where lagging, identify staffing issues within your organization, create steps for efficiency and processes, evaluate your leadership and the leadership of other motivators in the organization, and implement change where needed.
T – Tangible goals. A strategic plan is a forward-focused vision to help all invested members align with your goals. By making a clear, concise and singular plan for success, everyone is aware–and can be invested–in the tasks and goals at hand, and understand their own individual contributions and how their participation affects the overall outcome. This creates ownership and responsibility across the organization for the achievement of the plan.
E – Executable. Without written down and trackable measures for meeting an organization’s goals, there is no direction for employees or management. A strategic plan is an actionable and executable way to reach your company’s goals.
G – Growth. By empowering organizations to execute a plan strategically, and address issues that hamper growth, a strategic plan can optimize and outline a strategy that leads to success. Organizations with strong strategic planning and accountability for the measures and decisions implemented are more successful in reaching their goals and guaranteed to be more in tune with what helps and hinders their growth.
Y – Year Round Review. Strategic planning is something that is evaluated often, and is evolved and adaptable to change when needed. While the overall picture may be far reaching, focused, structured and specific, it must also be agile, so that when new opportunities or challenges arise throughout the year, the plan can evolve to adapt to the new situation. Year-over-year goals can shift; just make sure to communicate the reasons for change and the new expectations if a pivot is required.
If you are driving an organization without a roadmap, consider a strong strategic plan to guide you in the right direction and get to your destination using the most direct route! Defining your plan and goals, how to get there and giving employees accountability for their part will help you drive towards success, execute your plan and adapt along the way to your final destination.
Join us for our Opportunity Knocks Strategic Planning Event by RSVP-ing before November 9th at: https://www.eventbrite.com/e/435821141767