Creating a business strategy plan takes time and focus but it need not be difficult. Much of the business plan info on the internet is intimidating and a waste of your time if you are a small outfit. A business strategy plan is much simpler and may be just what you need. It is essentially a “to do” list with a projected income attached to it: what you want to do, how you will do it, and by when.
A business strategy plan is basically a “to do” list
- Make a list of all the things you want to accomplish next year. For instance, this list will include the number of workshops you intend to present; the number of coaching hours a week you are aiming for; new products and services you hope to develop, etc.
- Quantify these. Next to each of these, place an income figure you are striving for.
- Date these. Place a date on your business strategy plan for when you will achieve each of these objectives.
- Make a sub-list of everything that needs to be done to realize each of the above categories. A workshop slated for February needs preparatory tasks such as publicity, mailings, and contacting venues. These must be accomplished prior to your launch date. These cannot be put off in view of working on a project whose launch date is in April. In this way, you will fill your business strategy plan calendar with time—and income—sensitive tasks.
- Quantify each subcategory (if appropriate). Next to each, place an income figure you are striving for. All the sub-category income projections will add up to the income projection for the major category.
- Date these subcategories. Place a completion date next to each subcategory.
- Assemble each of these tasks into a master business strategy plan. Review the resulting timetable for doing the work. If too many tasks pile up in one month, reconfigure your task list so that the tasks are spread out over a longer period of time. This may require changing completion dates.
- Each month has to have a projected income. Your choice of activities is predicated on this income requirement. A new speculative project, however exciting it may seem, cannot crowd out income production. (The only time this may be permissible is when things are going so bad that you need to try something new and bold. This should not happen often.)
- Do not schedule tightly. Allow about half of your workweek to remain open to general and administrative tasks (e.g., clearing the e-mail, buying new toner) and to new or unforeseen demands on your time.
If you fail to plan where you will be in 12 months and how you will spend your time while in the office, you will certainly fail to get “there” because there will be no “there” to get to, no concrete goal to strive for.
Here is an interesting resource on creating a business strategy plan.
What tips do you have for building a business strategy plan? Share them in the comments below!