Strategic Planning is key!
Many companies and small businesses spend most of their time reacting to unexpected changes and day to day operations instead of anticipating and preparing for them. This is often called crisis management. Companies caught off guard may also have to spend a great deal of time and energy playing “catch up”. As a result, they use their energy coping with immediate problems and have little time and energy left to anticipate and prepare for the next challenges. This vicious cycle locks many companies into a reactive mode, which also leaves them at risk.
Don’t let this happen to you. A simple alternative is a well-tested process called strategic planning, which provides a proactive alternative to crisis management. Taking the time to plan will actually save time in the long-run. Look at these startling statistics that show that the rewards of planning are well worth the effort.
• Businesses using strategic plans are 12% more profitable
• Companies surveyed who do execute a strategic plan reported they experience real and material benefits from their planning processes that are far beyond those of average companies. They’re enjoying improved control over costs, increased foresight, improved operational performance, increased transparency and insight into the business, a sense of shared purpose, and an increase in revenue!
Sadly, this is the reality:
• 90% of organizations fail to execute their strategies successfully
• 86% of executive teams spend less than an hour a month discussing strategy.
• Only 23% of companies use a formal strategic planning process to make important strategic decisions.
Sources: On Strategy website, BDC website, Forbes website, Harvard Business Review Website
Create a Thriving Plan: A simple one-page strategic plan is a great start!
Taking the time to create a plan and then executing the plan throughout the year reap many benefits!
Outcomes and Benefits:
• Increased Growth and profitibility
• Never having to worry about employee issues
• Your team being in complete alignment with the future of your company
• Everyone on the same page
• Having a plan for a good economy and not so good economy – how to make clients happy in good times and not so good times
• Work smarter, not harder
• Make more $ and work less hours by being strategic and intentional
Strategic planning and implementation is the specialty of Thrive Business Strategies. Our organization has helped many companies not only create a strategic plan, but accomplish more in a year than they ever thought possible. This does not add to the company’s work load when it’s done properly. Efficiency is created by prioritizing and working on the correct tasks. The results are huge and measurable, and are a testament to the value of the investment that the program provides.
If you are interested in more information about this process, please contact us at Thrive Business Strategies. Info@thrivebusiness.ca or 1-877-930-2220.
Note: The Kamloops Chamber of Commerce is hosting and Thrive Business Strategies is facilitating a Strategic Planning workshop Wednesday morning called: Create a Thriving Plan! Please contact the Kamloops Chamber of Commerce or Cindy Piva at Thrive Business Strategies to sign up.