5 Ways Strategic Planning Profits Small Business

March 20, 2015 | Roger and Susie Engelau

Big companies have big strategic planning processes and they need them because there are a lot of assets at stake. But the same is true for you as a small business owner… relative to your company’s size, you too have a lot of assets at stake.

The trouble is, you probably don’t have a strategic planning department or even an expert on staff like the big corporations do.  Thankfully, there are tools for small business owners to create simple plans that produce profits.  Verne Harnish’s 1-Page Strategic Plan is the best I’ve found; I use it for my own businesses and with most all my business coaching clients. You can download a copy for yourself here.

It’s just as critical for you as a small business owner to have a strategic plan in place. Want higher profits?  Here are the

Top 5 benefits you get from having a good strategic plan

  1. It gives everyone in the company direction as they make daily decisions – One of the biggest traps my clients fall into is being too tactical, i.e. working IN the business vs. ON the business. A good strategic plan provides both the end goal and the quarterly and weekly actions needed to achieve those goals. People will know what they need to do without constantly having to hunt you down for answers to questions.
  2. The business can operate without you – Heaven forbid it has to but if the team needs to carry on because you’re not available, they can. Best of all, you can take those vacations you’ve been wanting to take but afraid to lose profits if you do.
  3. You’ll analyze every part of your business with an objective view –The strategic plan process forces you to list your company’s A) Strengths, B) Weaknesses – both of which are looked at from inside the organization and C) Opportunities, and D) Threats – both of which you view as if you’re on the outside of your organization looking in. Then you can put action plans in place that are absolutely realistic and necessary, not ones you HOPE are the right ones.
  4. The operational plan of every area in the company are integrated – How great would it be if every area and every person were working toward the same goal instead of doing what he or she thinks best?
  5. You will make more money – How can you meet goals around profits if you don’t set goals around profits? And if you don’t think through and document the actions necessary to meet those profit goals? You can’t—and you won’t.

I invite you to join me as, quarterly, I walk other business owners like you through a strategic planning process. The day includes an educational period, work in small groups, and a nice hot lunch together. Make plans now for the 2nd Quarter Growth Plan Workshop –

Fri., Mar. 27, 2015, 9—4pm

Hilton Garden Inn Indianapolis Airport, 8910 Hatfield Dr., Indianapolis  46231

To register, click here.

You’ll walk away with:

  • A clear picture of where you want your business to be in 10-30 years, a 3-5 year plan, a 90-day plan, & a ready-to-implement action plan to get you there
  • Your 12-month goals broken into bite-size quarterly goals, monthly milestones, & weekly actions
  • Strategies to build your profits right away
  • A network of like-minded business owners

Cost is $247 at the door, $187 in advance, and FREE for clients.  Through March 23, you can take advantage of an Early Bird Special for $97.

If you’re serious about taking your business forward and enjoying profits that grow with each passing month then this is the event for you. Space is limited and filling up. Click here to register.