Strategic Planning

By: A Staff Writer

Updated on: Oct 25, 2024

Wishful Thinking ≠ Strategy

Having goals is great. Having a plan to ACHIEVE them is the difference between dreams and reality.

• Start with the WHY: What’s your long-term vision, and how does this plan get you closer?
• SWOT Analysis Time: Be brutally honest about strengths, weaknesses, opportunities, and threats.
• Get S.M.A.R.T.: Specific, Measurable, Achievable, Relevant, Time-bound goals allow tracking and adjustments.
• Scenario Planning: “What if…?”, play out potential market shifts, etc., to build proactive responses.
• Involve Your Team: Diverse perspectives improve plans, and foster buy-in for execution.
• Plans Are Living Documents: Revisit regularly as your business grows, competitors evolve, etc.

Strategic planning turns ‘hope’ into a roadmap, increasing your odds of long-term success.