Entrepreneurs and business managers are often so preoccupied with immediate issues that they lose sight of their ultimate objectives.
That’s why, if you really want to give your business some focus for growth, a business review and preparation of a strategic plan is an absolute necessity. Creating a strategy for growth helps you re-focus your business on delivering the outcomes that YOU want and provides an effective framework for positive change.
A strategic plan should not be confused with a business plan. Whilst a strategic plan can provide the foundation and framework for creating a “business plan”, they are two very different things.
A strategic plan provides a living and breathing template for running the business and engaging everyone involved in the business to achieve a common goal. A business plan is normally written to communicate with people external to the business to justify financial support or ongoing investment at a very specific point in time – they typically have a very limited shelf life and can usually be found gathering dust in the top drawer of the MD’s desk! A satisfactory strategic plan must be realistic and attainable so as to allow managers and entrepreneurs to think strategically and act operationally.
A critical review of past performance by the owners and management of a business and the preparation of a plan beyond normal budgetary horizons require a certain attitude of mind and predisposition. Some essential points which should be observed during the review and planning process include the following:
To facilitate this for you, Business Doctors have developed a unique no-nonsense planning process that cuts through the corporate waffle and delivers a practical down to earth strategy for focusing your business for profitable growth.
Focusing Your People
Creating a strategic plan for focusing your business it relatively easy – THE most essential step in making this happen is to ensure that you have a focused team of people working in the business, motivated and committed to delivering it.
This can only be achieved by engaging and involving your staff in the process – this does not mean simply telling them that the company has a new strategy and expecting them to change the way they work to accommodate the plan. It means involving them in the process, listening to their ideas and opinions and then acting upon these when managing the changes that are required. In other words, giving them ownership of the changes and allowing them to take responsibility for their role in making it happen.
Once the team takes ownership of the objectives, targets and action plans, they then become accountable to themselves and to the business. Accountability then enables individuals to self-manage their own performance and for the business to support this through positive encouragement, recognition and reward.
Standards will be set by the team and over time, these will become self-regulating, making it easier for the business to minimise the challenges created by underperforming teams or individuals.
Engaged employees are proactive, committed, take actions and make decisions that are consistent with the company’s strategic goals and objectives.
Talking about it is one thing – actually doing something about it is another. Most of our clients at Business Doctors struggle to find the time and resources needed to bring their strategy to life and this is where Business Doctors can help. If you are unsure where to start you can opt-in for a free business health check.
Business Doctors specialise in supporting small and medium-sized businesses, helping them to fulfil their true potential. Business Doctors offer ‘hands-on’ support to business owners helping them to overcome their individual challenges and supporting them to achieve business growth. Whilst we operate within the consulting industry we are not traditional consultants. Our approach is different and involves getting into the nuts and bolts of businesses providing practical advice every step of the way.
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