Does your business need a strategic plan? Isn’t that only for big corporations? The answer may surprise you. Hi, I’m Doug Barra. And in this episode of BusinessSUCCESS, we’ll uncover the value of strategic planning for your small business growth and how you can implement it.
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So let’s take a moment and talk a little bit about the difference between strategic planning, business planning and action planning. So strategic planning is something that you should do in your business at least once a year. And it’s really looking forward looking at where are you going? It’s looking at the next five to 10 years, where do you want to take your business and your life to? And what are the strategies that you think are going to get you there?
All right, so it’s a very specific kind of planning, strategic planning. Now action planning or business planning are a little bit different. Now business planning can take a lot of different ways. Business planning, strategic planning is part of business planning.
Action planning is part of business planning, right? Or, you can be thinking specifically of a business plan that you would develop if you wanted to take your business out to get investors or out to the bank to get a loan. That sort of plan is a little bit different because it goes very in-depth into how your business is structured. What is your place in the marketplace?
How do you compare to your competitors? What is your marketing strategies? A lot of things like that, financials, that you want to make sure are included in a business plan that aren’t necessarily included in an action plan. See an action plan is that day by day planning for how are you going to accomplish your goal? And an action plan really should never be longer than 90 days.
I don’t really even recommend less than 90 days because 90 days is the right amount of time that allows you enough time to accomplish things. But actually doesn’t take it so far that it’s hard to stay focused and create a plan to accomplish it, especially in today’s environment. Things move so quickly that it’s difficult to take planning very, very far out.
Strategic planning, however, is something that you really do want to get out there. You want to get as far out as possible. And I know that in today’s environment, people tend to be a little concerned about that. A little nervous about looking too far out, but it’s critical for your business that you do do it because you need to be out there looking at where are you trying to go?
And as we enter into the last quarter of 2021, it’s time to start doing your 2022 strategic plan. So to give you a head start, we’ve put together an amazing FREE webinar to guide you through creating your strategic plan. This webinar will actually walk you through the steps and give you the tools that you need to create your strategic plan and make 2022 an amazing year for you.
There’s a link below this video. Please click that link and get yourself registered into this FREE webinar. We’re trying to do it as often as possible so that as many people as possible can get this valuable training. I want to know what you think about what I’ve said. I want to hear your comments. Please leave me a comment. I will read them.
I will respond to them also, if you haven’t already please like this video so that others know that it’s valuable and the algorithms can show it to more people and subscribe to our YouTube channel and click the bell to get notified every time we post a new video, because I don’t want you to miss a single one of our videos. Once again, I’m Doug Barra. And now it’s your turn. Click the link, get yourself registered, build your strategic plan, and I’ll see you in our next video.