Welcome! In this very first edition of the Strategic Planning Newsletter, I want to explain the overall purpose why small business owners should create and maintain a business strategic plan.
One of the top five reasons why 80% of small businesses fail within their first year is they lack a clear vision, direction and goals – key elements of the strategic plan.
The small businesses that create and execute their plan double their chance of success. Double it!
The strategic plan answers these 3 critical questions for your business:
- Where are we now?
- Where do we want to get to?
- How will we do it?
Effective businesses create their own successful future through a robust plan. The clearer and more exciting the future business destination you create for your organization, the greater likelihood you and your employees will be excited and committed to get there.
In subsequent monthly newsletters I’ll explain each section of the strategic plan one-at-a-time. I’ll begin next month starting at the top with why your business needs a clear and compelling Vision Statement.
If you have comments about the value or importance of creating a strategic plan for your business, or tips you would like to share, please post your comments below
To learn more about the strategic planning process, upcoming complimentary webinars, or to receive a complimentary strategy session to discuss your situation, please schedule a session with me.
Hi Tom, great article. Thank you for reminding me about this powerful concept…
So many of us forget how important a Strategic Plan is…I love the “Triangle” that maps out the SP…Excellent and such a great model…You rock!
Michael
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