Talk about strategic planning and you see eyes roll, arms cross and voices that say we can’t afford that. Too much time, too much energy, too much money! And, besides that strategic plans don’t work.
For many businesses, strategic plans don’t work because they, the small business owners, the entrepreneurs, the executives, the independent contractors such as real estate agents, insurance agents, financial advisors fail to use them each and every day. These business owners believe that the words within the plan will magically increase sales, improve employee morale and create loyal customers. Talk about living in a fairy tale world.
What these dedicated business owners who truly desire to have successful companies fail to realize is that an executable strategic plan will make decision making and problem solving far easier than not having one. Less time is invested on should I do this or what would happen if I did that. And, I don’t know about you, but I truly want as much free time as possible.
Another benefit is the all decisions are in alignment with the strategic plan. People are no longer flying by the seat of their pants. Judgements are based upon the following:
Vision statements
Value statements
Mission statements
Critical Goal Categories
Goals
If the proposed action does not get me closer to the:
Vision
Values
Mission
Goals
Then why am I wasting my time considering this action? If you are unsure as to how much time that you have wasted by not having a strategic plan, then do this simple exercise.
Take a few moments to mentally add all the hours that you have spent in pondering a specific decision or working through a particular problem solving activity. Now multiply those hours by $100 because your time is surely worth $100 an hour. What’s your total? If you spent only one hour a week, that totals $5,200. Did that decision deliver to you $5,200? If you add the other losses such as loss income because your time is not being invested where it produces the greatest gain, then your total loss is probably in the tens of thousands of dollars.
Business owner needs to make critical decisions especially when they have growth or capacity issues such as the hiring of personnel or outside business services such as accountants or lawyers or marketing firms. The strategies and the goals within the strategic plan will clearly dictate as to what action to take.
As a business coach, I have witnessed so many people working harder and not smarter by avoiding an executable strategic plan. Why not bite the bullet? Take the necessary actions to make better and easier decisions along with truly having fewer problems by writing a plan or hiring a business coach to help you through the process. All you will save is thousands of dollars and hundreds of hours not to mention even probably sleeping a whole lot better.
Do you want to learn more about how to get to where you want to be? I have just completed a FREE 7 lesson on-line email course. Sign up here and now Building Your M.A.P. (My Action Plan) to Success.
Leanne Hoagland-Smith, M.S. is a speaker and Indianapolis business coach & Chicago business coach who has written hundreds of articles with a focus on improving individual and organizational performance through excellence in leadership to executable strategic plans.
Tags: critical goal, Decision Making, employee morale, executable, fairy tale world, insurance agents, loyal customers, mission goals, mission statements, multiply, problem solving, simple exercise, small business owners, strategic plan, strategic plans, successful companies, value statements, vision statements, vision values, wasting my time
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