Sound Business Strategy – Do You Have One?
Too many times I’ve gone into an organization who is banged and bruised from making market error after market error, asked the same question and received the same answer, “No, we don’t have a plan.” The reason they give me, generally speaking, is they don’t have time to sit and plan; they have to work! My response is always the same; ‘How’s that working for you?” Not really, but I’d like to say that … just once.
So here’s the rub … if you don’t take the time to plan, you probably won’t receive the benefit of knowing your market, you won’t know how to properly position your product, nor will you understand how to engage your customer to build the best customer-centric business possible.
Business planning, especially Strategic Planning, is the key to moving forward with your business. The detailed planning process helps you understand where you are, where you need or want to be, and how you’re going to get there. This sounds simple, and in some ways it is, but the process of looking inward and outward can be daunting if not conducted properly.
What must be understood is the process, while educating the planning team, can pay big dividends in how successful you will be in your business activities. I’ve seen the planning process drive a company to double sales in three years and increase profitability by more than ten percent! Now that’s success!
So, what do you do when times are tough? Plan for Action! Business and markets move in cycles – sometimes in a pattern of growth, sometimes in a pattern of contraction. These are normal and should be expected. Even as times become difficult; the economy is in a downturn, the dollar is strong or weak, or the customers seem to be hit or miss with your product offering. Planning will engage your people to look at the obstacles to growth.
Once you understand your ‘hot-buttons’ you can plan your way to success. The value of planning is defining specific paths toward execution supporting accelerated and sustainable growth. At no time during a company’s history is planning to be ignored. To do so will be at your own peril.
OK, what’s next. Well, if you don’t have a plan – make one. If you don’t know what to do, remember, you need not be alone in this; call us and we can help. The success of your business is what we care about.
