The future of your business needs a strategic plan!1 min read
Preparing for the future of your business will mean having a strategic plan. This kind of forethought may save you a lot of trouble as you continue on your business journey. You already know that there will be good times and challenges along the way. Being prepared can make the difference in your success.
If you have already started your business you should have a business plan. The strategic plan is a second step. It will be different for each business, but it should include advanced thoughts and resolutions to potential problems that may arise. It will ensure that you will not simply be reacting in the midst of a conflict, but that your response has been calmly thought through beforehand.
The best approach is to include your managers and decision-makers in the process. They will have valuable information to contribute, and if you include them in the process they will be much more motivated to make the plan happen. Including them communicates that you value their contribution.
You should look at the past, survey the present, and then make projections on the future. Do this at least once a year, otherwise things may stagnate. The SWOT (Strengths, Weakness, Opportunities and Threats) analysis is a great tool.
Once you have a plan in place, do not forget to communicate with your employees. Make their future at your business look exciting and challenging. They will be happy to contribute if they feel included and valued.
We have experience in strategic planning for business. Please contact us for more information.
By Kathy Hopkins
Kathy has been a practicing accountant since 1985 and provides a vast repertoire of services that include budget comparison, reporting and analysis, QuickBooks® training, cash flow projections, financial analysis, compilations, reviews, audit preparation and management, as well as strategic planning.
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