BBF053: How to Create a Strategic Plan for Your Business

How to Create a Strategic Plan for Your Business

Whether you love it or hate it – you need to think about strategic business planning! Don't think of a business plan as a big, fat document that sits on a shelf collecting dust. Instead, think of it as the strategy behind what you are doing. Without strategy, you are not going to thrive. You need a strategy that drives you!

Don't get caught up in the day-to-day aspects of your business. There is always something to do and fires to put out. But you need to STOP! Put some time aside to put together your strategic business plan. Stop being reactive - become more proactive. Develop a fluid document that helps build your business. Once you have it, make sure to review it and keep it up to date. Business Coaching Manager George Zenon has coached dozens of businesses in different industries. He knows the ins and outs of what it takes to succeed in business. He discusses how to create a strategic business plan and what you need to think about. Your strategic business plan has to align your business with your goals! A strategic business plan focuses on the big picture: Where is the business heading, what direction is it going, and what does it need to achieve? Have a plan and follow it! In this episode of Business Brain Food you will learn:

** Why it is important to create a strategic business plan

** The difference between business planning and strategic business planning

** What elements to consider and include

** How to get started and the Planning Club

** To think of investors, employees, and customers

** Items to measure (key performance indicators)

** Review regularly to keep up with competition and changes in technology

** Mistakes made in strategic planning

Resources mentioned in this episode:

** Planning Club with George Zenon: actioncoachanz.com/strategyplanningsession

** Percentage Calculator App: https://play.google.com/store/apps/details?id=info.percentagecalculator&hl=en

Do you have a strategic business plan in place?

If not, how are you going to be successful? Make sure to follow the guidance provided in this podcast to take your business to the next level. Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that! Until next time, have a profitable day! Cheers, Ben Fewtrell [phone]