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Jan 12, 2022 · That being said it has been my experience there are certain qualities a plan needs to make it good and worthwhile. The following are mine. If you’re looking for others [though they have a lot in ...
- Jake Meeks
- Clear language. It might be tempting to throw in a bunch of industry jargon to show your knowledge of your niche. Unfortunately, most lenders won’t know what you mean.
- Employee recognition. Your business plan should include a layout for employee recognition. Developing a strong workplace culture benefits your brand in numerous ways, such as creating staff loyalty and retaining your best people.
- Realistic goals. While you might love to run a multi-billion-dollar conglomerate, most small businesses stay relatively small. That isn’t to say you can’t find great success as a small business owner, but make sure your goals are achievable.
- Great mission statement. The best business plans outline the purpose of your company. Why did you start the business in the first place, and how will you leave your mark with the brand?
- Objective situational and stakeholder analysis. Without an objective and unbiased understanding of “what’s going on here,” you’re not likely to come up with strategies that will be very effective.
- Clarity of purpose and realistic goals. It’s critical for your people to understand the purpose of your strategic initiative and have clear goals that are aspirational, yet realistic, notes Ned Frey, owner of Foursight Seminars Inc.
- Sense of urgency. “Without a sense of urgency, it’s too easy to put off until tomorrow what should be acted upon today,” says Allen Hauge, president of Hauge Farms, Inc.
- Strategies that underscore your values and play to your organizational strengths. Strategy isn’t just about what anyone would do; it’s about understanding what YOU would do, based on your priorities and values.
Jun 27, 2019 · 7. Identify and track success measures monthly and quarterly. Tracking progress on strategic goals and objectives on a regular basis is key to ensuring that the plan is being implemented and to ...
- Senior management collectively owns the strategic plan. In most organizations each senior manager has a silo or line responsibility under his or her purview.
- The strategic plan is inclusive. We often see strategic plans developed by CEOs or senior management teams and then cascaded down their respective organizations.
- The strategic plan incorporates operational realities. Many organizations struggle to acknowledge their challenges and weaknesses. Without a candid assessment of the organization’s landscape, a strategic plan will not be effective.
- The strategic plan includes specific and tangible actions assigned to individuals. We typically see an organization’s senior management team go off-site and create grandiose strategic plans that sound great in principle.
Oct 24, 2023 · 8. Communicate The Plan Effectively To All Stakeholders. A plan is only as good as its execution, and that requires clear communication. Ensure all stakeholders understand the plan, their role in it, and how it aligns with the broader goals. Good communication fosters buy-in, aligns efforts, and promotes a shared vision.
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Don’t work on your secondary goals even when you feel like you have some time. This will remove the distractions of secondary goals that keep you from completing your primary objectives. 5. Positivity. Everything starts with a positive mindset when you want to achieve a goal or improve productivity levels.
