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Entrepreneur's Evolve From Their Experience: Fail Fast, Fail Cheap. Push Boundaries!

Write Your Own Strategic Plan or Have Mike Shew Do It

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Strategic, Business, Operations, or Sales (It is a Plan)

Those Who Fail to Plan, Plan to Fail and For Some Insane Reason, it is Guaranteed In this Universe.

Strategic planning defined by Webster’s dictionary: necessary to or essential in the initiation, conduct, or completion of a strategic plan, or a method for achieving an end. As a business owner, do you shoot from the hip minute by minute every day? You the business owner may know your mission, vision, and the long-term plans of your company. How do inexperienced staff or new hires understand what you are thinking today compared to yesterday? Why would your team want to invest 20 years of their working life in your small business?   What is in it for them, retirement, long-term career, health insurance, advancement, or more money? As you bring on increasingly more staff, your business requires infrastructure for onboarding.    


According to Kaplan & Norton: On Average, 


Only 5% of an Organization’s employees know there is a plan. 


Only 25% of management has an incentive linked to any aspect of planned results. 


60% of companies do not link incentives to the planned budget. 



85% of companies spend less than 1 hour per month talking about the strategy. 


90% of companies regularly fail on at least one critical aspect of the plan. •


Yet, 99%+ companies have a Strategic Plan.    


The business structure built by the company up front allows for employee growth and continued support for the mission of the owner(s). Think about creating a structure within the business (robust framework), so it becomes a living breathing entity to keep growing to the next level. First, we develop a strategic plan built out with five-year financial projections (where are we going?). We add elements for advertising, marketing, and an e-commerce strategy and each department within the business. The strategic plan is developed around the mission and vision of your company.   


Use our Mission Statement to create your small business mission.  



We support small businesses with accurate research and business owner experience; with the overall business structure developed in the beginning to save business owner(s) valuable time, financial resources, to move forward instead of three steps back.   


A clear example: Instead of writing an article on CRM’s and posting it in a comparison format. We use the “Theory of Constraints” first and foremost to draft an informative article on ERP systems due to some ERP systems possessing CRM’s embedded within them. What does that do for the business owner? It saves you time, money, and using the software you already invested money, time, and paid staff data input. So, you can move forward and not go back to the strategy board to figure out how to synchronize all your software systems.



The online business dictionary defines strategic planning as: (1) outlines an organization's overall direction, philosophy, and purpose, (2) examines its current status in terms of its strengths, weakness, opportunities, and threats (see SWOT Analysis), (3) sets long-term objectives, and (4) formulates short-term tactics to reach them.   


You will also need to complete a S.W.O.T and a P.E.S.T.E.L. assessment and we will discuss those topics next. (See SWOT & PESTEL in drop Down menu)



Small Business Advisor Mission Statement

We support small businesses with accurate research and business owner experience; with the overall business structure developed in the beginning to save business owner(s) valuable time, financial resources, to move forward instead of three steps back.  


A clear example: Instead of writing an article on CRM’s and posting it in a comparison format. We use the “Theory of Constraints” first and foremost to draft an informative article on ERP systems due to some ERP systems possessing CRM’s embedded within them. What does that do for the business owner? It saves you time, money, and using the software you already invested money, time, and paid staff data input. So, you can move forward and not go back to the strategy board to figure out how to synchronize all your software systems.

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Part II Strategic Plan

SWOT & PESTEL NOW COMPLETED


Back to our strategic plan, you completed your current state analysis by using the S.W.O.T. (Strengths, Weaknesses, Opportunities, and Threats) and the P.E.S.T.E.L analysis (Political, Economic, Social, Technological, Legal, & Environmental) for your business departments and the global economic outlook.  Finding hidden concerns with both of the planning tools can help you overcome unforeseen future problems which you can now be prepared for by planning well in advance.  Is your business prepared for emergencies like fire, active shooter, natural disaster?   


With your analysis in hand, you and each department lead get together and begin compiling your strategic plan information. What do we do and how do we do it? Who are our customers? How do we excel at what we do? What is holding us back? What does each department do in operational processes? What does each department need: software, staff, tools, and potential resources? Develop Goals, Policies, and Tactics, projections for each strategy defined. Create a plan (use whiteboards in an area free of distractions) that creates a directional roadmap that guides day-to-day decisions, which leads to desired measured outcomes. The approach is the responsibility of senior management to develop and implement the long-term business strategy. Reverberate the mission statement to directors, supervisors, and managers, so it is reiterated among the entire crew, who do most of the production work.      


Essential elements required to achieve a fundamental business strategy:  


–    Vision – Long-term 

–    Benchmarking – how do your numbers compare to others in the same industry 

–    Business Scorecards  – Analytics or Dashboards  

–    Six Sigma and Lean – reduce errors – run lean ops

 –   Good Business Process Management 

–    Innovation – Innovate or stagnate     


Strategic focus can be found at the intersection of the current market needs (what are they individually?) and unique company capabilities (what are they individually?). A clear holistic strategy reduces fire-fighting issues for the long-run. You the business owner, could be in a car accident and be laid up for eight months. I WAS, can your staff and family take over and keep the business alive until you come back to work! Are all processes in writing to be followed when you are not in the building? Most companies agree implementation fails 70-90% of the time and those plans that fail; It does so in the application process due to the worker bees not being indoctrinated with the mission of the company which creates none or little buy-in of the strategic plan.  Effective strategic implementation requires long-term focus, clarity of thought to ensure consistent communication throughout your entire organization.        


What do we do?      

Who are our customers?      

How do we excel at what we do?    


1.    Who are we? 

2.    Where are we now? 

3.    Where do we want to be? 

4.    How are we going to get there?   


You can use a Quality Management System in place of a strategic plan. An excellent Quality Management System (QMS) is ISO 9001:2015, and the ISO 9001:2015 requirements provide a set of standard elements that will guide you in the implementation of a Quality Management System (QMS). The requirements are designed to apply to any company in any industry both production and service based, and the requirements tell you what elements are mandatory in a QMS, but not how to implement these necessary elements. Some companies request that you be 9001:2015 registered and that will put more revenue in your pocket.  


The ISO 9001:2015 requirements are separated into eight sections (called ISO 9001 clauses), five of which contain mandatory requirements for a QMS: general Quality Management System requirements (clause 4), Management Responsibility (clause 5), Resource Management (clause 6), Product Realization (clause 7), and Measurement, Analysis and Improvement (clause 8). All elements of these five clauses are mandatory except for the Product Realization section, which allows for a company to exclude portions that are not applicable to their business practice.   


Clauses 1 through 3 include no requirements but instead deal with the scope of the standard, references to understand the rule better, and terms and definitions. Next time we will discuss risk migration which is covered actively in ISO 9001:2015 which ties into continuity planning and Strategic Management: A Customer Value-Based Model.


Strategic Planning to Mitigate Risks
Strategic Planning to Mitigate Risks