The Strategic Planning Process

Your Key to Success

 Strategic planning is a key success tool for growing your business by plotting your company’s success in small, logical, ongoing steps.  Strategic planning follows a five phase process: Visioning, Planning, Implementation, Monitoring and Evaluation. At The Business Connection we add Executive Coaching, Mentoring and Training for your greater success.

                     In this process we will address the following questions:

1.       Where are we?

2.       What do we have to work with?

3.       Where do we want to be?

4.       How do we get there?

5.       How do we recognize “it” when we arrive?

Phase 1.  Visioning in two parts: 1.) The creation of a Vision Statement which states a clear intention of what the company “will be” defined in the present tense and 2.) A Mission Statement which states a sense of purpose, defines the core business, its values and what it stands for. (If you already have these, they may require refreshing.)

 Phase 2.    Identification of the business’ Values and Core Competencies on which the business operates. We want to make sure that what you do, you do very well. You can set the standard in your industry.

               Part A.:    A Situational Analysis is conducted of both the internal and external environments of the business.  The internal factors of the business are categorized as Strengths and Weaknesses while the external environmental factors as Opportunities and Threats along with a Competitive Analysis ~ your SWOT analysis and more.

             Part B:     A strategy formulation of three main Strategic Goals, what they will allow the business to accomplish, what that entails, and the Action Plans and Benchmarks defined to reach these goals.  The action plans will specify who is responsible for doing what and by when.

Phase 3.  Implementation consists of compiling a written Strategy Book with each person, committee or team carrying out their agreed upon tasks or objectives within the agreed time frames. Accountability is critical to your success.

Phase 4.   Monitoring includes tracking the results of the action plans with any necessary changes made as required to keep your plan on track.  Hold regular monthly reviews and a formal strategic plan and financial review every quarter measuring success or the need to adjust your plan.  These meetings enhance communication while maintain accountability and increasing team interaction.

Phase 5. Together we re-evaluate the entire plan and quantify your results at the end of the first year. We hold a formal strategy session developing updated or new strategies and action plans for the upcoming year. This is a living process and as such requires ongoing nurturing, feeding and caring for it to grow into its chosen results.

Read What One of Our Clients Has to Say!

“We would never have accomplished these results if we had not done this process. (30% increase in business after this program.) We were like a boat bobbing about on the ocean and now our course is clear and our employees are contributing willingly.”….Brian Karn, DMD (now top 5% of income earners for dentists nationwide)