Challenging times are the best times to address your strategic plan, to review and amend; or to even start a robust plan. The learnings and clarity that comes from this process will provide your business and your team with clarity and vision of the common good – essentially leading to your beautiful destination.
So your business doesn’t have a strategic plan? Where would you even start?
1. Process Creates the Plan
Getting strategy at the ❤️ of your success will require you to carve out some time, get a process started, and shake things up. There’s no better time to review and tweak your business model, future-proof compelling services, and to get your strategic building blocks in place.
Just as every good strategy has key elements, every good plan needs a step-by-step process. In fact, the process is often just as important as the plan itself. A strategic planning retreat with your core team is a great way to start the process – find a spot offsite to get the creative juices flowing and set an agenda.
2. Key elements of an effective strategy
The key elements in a good strategy normally incorporate:
✔️ Vision – this is a statement that identifies what a company would like to achieve or accomplish
✔️ Core Values – these are the fundamental beliefs upon which your business and its behaviour are based. They are the guiding principles that your business uses to manage its internal affairs as well as its relationship with customers / clients.
✔️ Objectives – short term, long term. These should be SMART (specific, measurable, achievable, realistic and timebound).
✔️ KPIs – stands for Key Performance Indicators. These are measurable values that demonstrate how effectively a company is achieving key business objectives.
✔️ Actions – what needs to be done to meet the objectives? Make this simple and clear.
✔️ Owners – delegating tasks to specific owners to ensure follow through and accountability.
✔️ Deadlines – when your actions will be complete to ensure you make progress.
It doesn’t need to be much more complicated than that, but do invest the time and effort in doing this right. A proactive, value-add strategic model will need fresh thinking, debate, research, and open conversations.
Enjoy and embrace the process and you should end up with a good outcome.
Great planning requires a guide, facilitator, and/or professional expertise to be as robust as possible. We can help your business and guide you through the steps.
