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Your 3-5 Year Strategic Plan can be viewed as a base camp on the way to the summit.
Just as with your company vision, have your personal vision written down in a 100-word statement. ” can help guide your strategic plan in a way that closes gaps and opens up opportunities. Review packet with the executive team by 9/15.” When The Alternative Board, Bradford West Director Andrew Hartley was responsible for designing and delivering a three year, $10m environmental business support program, a full and detailed action plan was required for funding.
Know that statement inside and out and keep it at the forefront of your decision making. A SWOT analysis can also help you plan for making improvements. For more on completing a SWOT analysis, see our SWOT analysis guide. “That action plan allowed me to 1.) manage and measure the evolving program, 2.) ensure resources and staff were where they needed to be, and 3.) track whether the design of the program was working and delivering the level of results we were contracted to deliver,” says Hartley.
A strategic plan requires you to define your goals, and in defining them, enables you to achieve them—a huge competitive advantage.
In this article, we’ll discuss 11 essentials for creating a thorough and effective strategic plan.
Develop this statement and make it publically available to both employees and customers.
This statement should answer the key questions that drive your business: Where is your company headed? If you don’t know the answer to these questions off the top of your head, then you have some thinking to do! goals include “building out a new product or service within the next year” or “increasing net profit by 2 percent in ten months.” If you’ve already conducted a SWOT analysis, you should have an idea of what your business can reasonably achieve over a specified period of time.Watch the video to find out how winning moves help you grow with purpose and achieve your long-term These are the strategic capabilities you’ll need to develop in order to support your growth and reach your 3-5 year Targets.These are usually operational in nature or related to your infrastructure and help you while scaling up.Results-driven communication focuses conversations and cuts out excessive meetings.Every communication should be rooted in a specific goal.Your goal here is to set your Targets and identify the Strategic Growth Initiatives (Winning Moves) and Scaling Initiatives (Winning Moves for Profit) you’ll need to develop in order to hit those Targets and move in the direction of achieving your BHAG.Be sure to include the year you that believe you will hit those Revenue Targets so that you can hold each other accountable.What is your projection for the next three to five years?Identify the assumptions leading you to believe the Revenue Impact and Ease rankings are accurate.Winning Moves are strategic growth initiatives and actions that enable you to double your revenue (2x) within 3-5 years.These winning moves are often the base camps in the client's quest to reach the summit of Everest in order to achieve their(Big Hairy Audacious Goal).