Empower Network

Creating your strategic business plan may sound like a pretty daunting task. But is it really?

Here’s the thing. If you’re like me, you’re running a small business. In fact, let me outline for you who this article is aimed at.

You’re running a small operation that has less than 10 employees (in my case there’s just two of us!). You focus on online marketing. Your aim is to be nimble and to be able to react quickly to different market conditions and opportunities.

I my case I’m selling an information product and a business service, so no physical product, but that’s not really a factor here.

Strategic Business Plan: Fail to Plan and you’re Planning to Fail

Given these factors, I sometimes wonder at the need for a strategic business plan.

But I always think of that famous saying that goes: if you fail to plan you’re planning to fail!

So the question is do you, as a small business person, need a strategic business plan?

My answer is yes you absolutely do!

So what’s your definition of a strategic business plan?

I know I used to think of it as a thick document that went into great detail about just about every aspect of my business. And that was something I was just not interested in! You probably aren’t either, unless you’re an incredibly methodical, analytical and organized person!

But that doesn’t mean you shouldn’t have some sort of strategic business plan in place.

A Strategic Business Plan for the Small Business

For me this means a document that is more of a rough or loose guide. But this strategic business plan is something that lays out very clearly what your goals and objectives are for the short medium and long term.

It also has considerable detail on how you’re going to reach those targets. In other words, your strategy for getting there.

Remember what I was saying about remaining flexible and nimble? Well, that’s also an important part of my strategic business plan. Being a small business gives me the advantage of being able to more quickly to take advantage when those opportunities arise.

Creating Your Strategic Business Plan Is Worth The Time Investment

So what does it take to create your strategic business plan? Time? Yes. And some brain power. That’s about it.

You want to lay out very clearly where you want to be in your business in the next 2 to 5 years. Then you want to break that all the way down into specific daily activities that will get you there.

Also, a clear idea of the kind of budget you’ll need in order to reach your goals is essential. Without this element in place as part of your strategic business plan will leave you open to either cost overruns or the opposite, not investing enough to reach your goals.

Use Your Strategic Business Plan To Stay On Track

Once you’ve put your strategic business plan together, the key is to USE IT!! Don’t just throw it on a shelf never to be seen again! Refer to it often as you review your progress.

A monthly check of your progress against your plan will tell you how you’re doing.

There you have it, in a nutshell: your strategic business plan for a small business. Build it and use it!

PS. I really hope you take this to heart. If you’re serious about achieving some serious goals in your business, you need to know where you’re going and how you’re going to get there. As the compass illustrates, your strategic business plan is the guide that will get you there!