You have big dreams for your business. You envision scaling your operations, expanding your reach, and ultimately, achieving that next level of success. But here's the thing: dreams alone won't get you there. You need a roadmap—a strategic plan—to turn those dreams into reality.
At Kompass Solutions, we're big believers in the power of strategic planning. Why? Because we've seen firsthand how it can transform small businesses into industry leaders. But what exactly is strategic planning, and why is it so important?
Think of strategic planning as your business's GPS. It's a roadmap that guides you from where you are now to where you want to be in the future. It helps you set clear goals, identify potential obstacles, and chart a course of action to achieve success.
Now, you might be thinking, "But I'm just a small business owner. Do I really need a strategic plan?" Absolutely! In fact, small businesses can benefit even more from strategic planning than their larger counterparts. Why? Because when you're a small team, every decision counts. You don't have the luxury of trial and error—you need to get it right the first time.
So, how do you get started with strategic planning? It all begins with a clear vision for your business. What are your long-term goals? Where do you see your business in five years? Ten years? Once you have a vision in mind, you can begin to break it down into actionable steps.
One way to kickstart your strategic planning process is by hosting a one- or two-day strategic planning meeting. It doesn't have to be complicated—just gather your team, set aside a day, and focus on who you are as a company and the key objectives you want to accomplish. A one-page strategic plan works really well for this purpose because it's concise, easy to understand, and keeps everyone on the same page.
We are big fans of best-selling author Verne Harnish and his 10 Rockefeller Habits and the one-page strategic plan. We like using Rockefeller Habit #2 to build out a strategic plan: team alignment on the #1 thing that needs to be accomplished to move the company forward. During the planning meeting, identify a critical number—the most important goal for the quarter—and then break it down into 3-5 Priorities (Rocks) that support that goal. For example, a few years ago an online publication came up with "We got the 411!" as their theme/goal for the quarter. If you're old enough to remember, 411 was the number for directory information (as well as a popular Mary J. Blige album). So the aim was to educate and inspire their audience through engaging and informative content. They would know they were successful if they achieved 4M page views, increased NPS by +1, and increase social followers by 1%. By prioritizing initiatives to drive website/social traffic and engagement, the company managed to exceed its goal.
Remember, strategic planning is a team effort. Encourage collaboration and participation from all team members to ensure everyone has ownership of the plan and is committed to its success. By following these steps and implementing a strategic planning process, you can unlock the growth potential of your business and pave the way for long-term success.
Ready to take your business to the next level? Let's chat! At Kompass Solutions, we specialize in helping small teams like yours achieve their goals through business coaching, operational efficiency, experience design, and accountability. Together, we can turn your dreams into reality. Let's make it happen!
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