The Basics of Strategic Planning

What is Strategic Planning?

Strategic planning is one of the main mechanical aspects of success. Simply put, it’s an organizational activity in which you set priorities and goals and then map out how you plan to achieve them. The end result is often a physical document which can be used to communicate your plan to the rest of your team.

Developing the Plan

There are no official rules or frameworks to strategic planning. How you go about it will depend on your business. That said, there are some general basics that are often found in most planning sessions:

  • Analysis or assessment
  • Strategy formulation
  • Strategy execution
  • Evaluation

Much of the leadership skills and attributes we’ve talked about in the past will play into your strategic planning. Especially self-awareness, company culture, and how you motivate your employees. When considering how to reach your goals, you’ll need to take into account your own strengths and weaknesses, as well as those of your employees, and craft a plan that plays to everyone’s strengths in the most productive way possible.

Remember: Your Actual Plan is Fluid

From Moltke the Elder, Winston Churchill, and Dwight D. Eisenhower all had a few things in common. Aside from being successful military leaders, they all held the similar belief that the actual plan isn’t nearly as important as the planning.

What that means is that your strategic plan is less of an immovable statue, and more of a fluid, evolving idea. Think of it more as a guidance tool. The business world is ever-changing. There will be disagreements, unexpected events, and pitfalls that you simply can’t foresee. Adapting and evolving with these changes as they come will be crucial to a successful strategy.

At Success Plus, we specialize in helping business leaders plan for their business’ future. Call us today for a free seminar and learn about how our strategic planning solutions can help you.