Strategic Planning Series: Episode 5
Strategic plans can often be seen as too hard, easy to forget and hard to manage. Businesses dread to-do lists, and often a strategic plan is seen as one.
Strategic plans can often be seen as too hard, easy to forget and hard to manage. Businesses dread to-do lists, and often a strategic plan is seen as one.
To help with your implementation phase of your strategic plan or some strategic inspiration, check out our favourite books.
For any business, strategic planning is fundamental. They are a key to the future and help create direction for your business, as opposed to reacting to the market place daily. Learn how to ensure your business doesn’t fall into the trap of failed strategic plans.
There is no better way to describe strategic planning quite like Board Associates founder, Matthew Dunstan does.
Clients often ask us for simplified versions on how to build a great strategic plan for their business. We’ve developed 4 simple questions to guide a great strategic plan!
On this weeks first episode, Expert Board Associates Advisor, Martin Bishop interviewed Matthew Dunstan; Founder and CEO of Board Associates, to give guidance and growth opportunities on the topic of strategic planning.
The New Year period is typically a time when business slows down. It’s also the perfect time to work on your business rather than in it. Now’s the time to plot the course corrections that will dial things up a notch in the year to come.
Corporates and multinationals around the world use the December/January period as a time to review the progress of the business and so should you. But where to start? In essence, there are 6 aspects of your business that could use a little refresh as a part of your mid-year review:
Surprisingly, many businesses don’t actually have a destination in mind. It’s no wonder then that they drift from one opportunity to another without any noticeable growth or improvement.
Every business needs to reconnect periodically with where they’re headed, why it’s important and what they’re trying to achieve.
Your objective:
Chances are you’re going to be doing a lot of socialising during the holidays. Well put that time to good use. Ask those in your target market about their hopes for the New Year, the challenges they’ve been wrestling with and what they’re trying to get done.
Your objective:
It’s not enough to be better, you have to be different – and we’re not talking about a new slogan or colour scheme. To be truly compelling, your business needs an offer which is creative, memorable and engaging.
Your objective:
If you know your strengths, you’re able to capitalise on them. If you know your weaknesses, you can compensate for them. A good strategy allows you to address these whilst you choose and chase the opportunities aligned to your business.
Your objective:
Now that you’re tuned into what you’re trying to accomplish, what are the waypoints you need to reach along the way? What’s your first target and what’s the sequence for the rest?
Your objective:
Most businesses won’t have a formal lead generation system but none the less, customers will have found them somehow during the year – even if by mistake! (a.k.a. unconscious competence).
This is the time of the year polish up those lead gen activities and make them work together like a well-oiled machine (become consciously competent!).
Your objective:
Many people complain that they don’t have the time to work on their business – that they’re too busy “doing the business”. Well, the holiday period is your chance! It’s the perfect opportunity for you to step back from the detail and review where you’re headed, why you care and your plan to get there.
Find your favourite location away from the office, hold the mirror up to yourself and review the key components of your business plan that will drive your success in the year to come.
Free Guide to Mid-Year Review
Rising Tide Ventures has published its “Guide to Performing Your Mid-Year Review”, free to download at www.risingtideventures.com.au/midyear-review
Free MYR Planning Podcast Series
For those who prefer to work on these things with others, we’re hosting a free, 6 part podcast series to help you walk through the MYR planning process. You can find out more & register online at www.risingtideventures.com.au/myr-podcast-series