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Why a Strategic Plan?

>Why should you as an entrepreneur spend many hours of your scarce time developing a written strategic plan? After all, you have a vision for your company and your plan is in your head. One good reason is to ensure that someone else can pick up the ball and run with it if something happens to you. But even with you in the picture, you should develop a written strategic business plan for the following reasons:

1. The discipline of putting your plan in writing will force you to think through every aspect of our business, thereby enabling you to identify and clarify obstacles and opportunities, determine areas in which you need professional help, set goals, and refine strategies and tactics.

2. Communicating your vision to your associates is essential for them to make meaningful contributions to the business.

3. Few lenders or investors will give you money unless you have a comprehensive written business plan.

Your business cannot remain static and survive; it must continue to grow or begin to atrophy and eventually die. In today’s ever-changing business environment, a long-range strategic plan is essential to ensure continuing growth and survival.

Writing Your Strategic Plan

You should start by designing an outline to fit the needs of your company; then research and write the plan section by section. You cannot delegate this project. As the CEO, you must be actively involved in the process. Only you, the entrepreneur, have the knowledge and vision necessary to develop a meaningful plan for your company. Yet you need objective input from others who are not as close to the business as you.

Conclusion

Developing a strategic business plan is no small task. But it’s a project that’s well worth your effort. A strategic plan, if it is properly done, can help to ensure your long-term survival and prosperity. As with any major project, planning is not so onerous when broken down into smaller tasks that can be completed one step at a time. The outline that accompanies this article may help facilitate that process for you. And it is the process of developing your plan that will yield the greatest benefits for you. The fastest way to finish something is to start.

While we will face great challenges in years ahead, we will also be presented with extraordinary opportunities. We will all have access to new opportunities such as forming strategic alliances, niche marketing and doing business on the Internet. To grow and prosper, you must know your market and know your clients. Management guru, Peter Drucker, said:

“To lead you must anticipate the future and see what others cannot.”

Your strategic business plan can help you to reposition your business to prosper well into the 21st Century.
This posting (and the Strategic Plan Format #3) was edited into a template format from an excellent post found here: Read more: “Strategic Business Planning: Developing Your Business Plan” – http://www.zeromillion.com/business/writing-business-plan.html#ixzz0FCc3CcOf&A

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