Are you ready to have an amazing fourth quarter? Do you have your 2022 business plan already worked out? Hi, I’m Doug Barra. In this episode of business success, we’ll unearth some of the keys behind business planning to grow your small business.
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Let’s talk about the difference between a business plan, a strategic plan, and a quarterly action plan. Let’s start with a business plan. So there’s many ways that you could look at a business plan. One of the ways you can look at a business plan is kind of the traditional business plan, where you go, and you invest several days or even weeks putting together all of the background, all of the financial information, all of your information about your competitors, everything that would be needed by someone, whether it be an investor or a bank, to understand what it is that your business is doing.
This is a very critical piece when you’re starting your business. And many people think that’s it. I’ve done my business plan. I’m good. But the problem is if you take a business plan like that and you do it, and you stick it on the shelf, it’s not actually guiding your business. A strategic plan is looking at what are all of the different things that you need to focus on so that you can build your business, that you can take your business to the next level that you can guide your business forward.
And then a quarterly action plan is actually looking at okay, the goals that we created from our strategic plan, how do we now take those goals and cut them down into the actions that we’re going to take on a daily or weekly basis in order to accomplish those goals? So these are the different kinds of business plans. They’re all very valuable, and they’re really critical at different times, right? The business plan, the overall business plan, is very useful and required at the very beginning of your business.
The strategic plan is something you should do at least once a year. And the strategic plan is looking a little bit farther out. I mean, you might want to go five, ten years out on a strategic plan, right? All depending on how things look for you and your business and how you want to be able to see the future in your business.
Now, a lot of people, especially today, are a little nervous about looking too far out. They don’t know where the environment’s going. They don’t know where, you know, the business environment is going. They just there’s uncertainty in the world. And, you know, I’m sure you’ve experienced a little of that, right? So the quarterly action plan is really looking on the court; how am I going to accomplish this? So as we enter into the last quarter of ’21, it’s time to start with your strategic plan for ’22; it’s a critical piece. All right. So to give you a head start on this, we’ve put together an amazing free strategic planning webinar.
In this webinar, we will guide you through the process of developing your strategic plan. This is an amazing opportunity. It’s absolutely free. We’ve put it together because we’re committed to having business owners not only survive but thrive.
We’re going to walk you through building your strategic plan. I want to know what you think about what we’re doing right now. I want to know what you think about what I said about business plans, strategic plans, and quarterly action plans.
Please leave me a comment below this video so that I know what’s going on. I read the comments, I comment back to people. Also, if you got value, and you haven’t already, please like this video so that others know that there’s value available in this video.
Once again, I’m Doug Barra. And now it’s your turn. Get yourself registered, build yourself a strategic plan. Make sure that 2022 is the best year yet for you and your business. I look forward to seeing you in our next video.