Importance Of Strategic Planning For Business Success

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Strategic Planning Essentials For Your Business Success
By David Plaut
Sep 9, 2012
Strategic planning is essential to the success of any business. You have to look at strategic planning from a global perspective. That means the big picture - not minute details, but, its direct ion and scope. You start by thinking about your ultimate monetary goals for the year, product development goals and workshop tele-seminar goals and more importantly , how you're going to reach those goals.

Then use backward planning to develop your plan. That means you work with the end result in mind. It's a road map to get you where you need to go and where you want to go.

Strategic plans can be long-term plans or shorter term plans, but typically, strategic planning …show more content…

Here's an example..... Let's say, your goals is to make a $1 million this year. Your next though should be, how am I going to make it? How many events,networking groups, products, workshops and seminars do I have to do to get there? That is my marketing budget? How much am I willing to spend on getting a new client? How many staff will be required to accomplish my goals? The answers to these questions are key to making your strategic plan.

So while keeping the end result in mind, you may want to say, if I want to make $1 million this year, I can make $200,000 in seminars as profit. How many seminars am I willing to do? Five would get you there. You decide as the business owner and entrepreneur. You may also have products sales. Your product sales in the year may generate $300,000. Factor that into your plan. Get the picture? Brainstorm and write it down.

You can quickly see that by thinking about strategic plan with your goals and objectives in mind, you can start to sketch out exactly what it's going to take to get you where you want to …show more content…

After all, whose business is it anyway?

If you're the business owner, it's critical for you to decide your financial and monetary goals for each business year. You don't have to share them or delegate that responsibility to anyone because it is solely your decision. Once you have decided your monetary goals and your budgets, and all of those personal business decisions, you take your overall plan to key people in your staff to build out the details.

So the bottom line is, if you're the business owner, you make the decision - you are in the driver's seat - figure out where you're going and your tam will help you get

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