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Informative Articles

Discover The Coach Within You
Discover The Coach Within You One of the three basic roles of leadership is the coach or mentor. The best boss is often the best coach. (See: http://tlc-leadership.com/the_three_faces_of_leadership) In sports the coach is very conscious of his role...
Public Relations: Converting the Non-Believers
What’s the real reason some managers shy away from public relations? I believe it’s because they don’t understand, or believe, the direct connection between what public relations is capable of delivering and their need to achieve specific ...
Survival Without Computers
I was slowed down when my computer crashed and I had no data, no address book and not even my passwords to get back online. I didn't think I was doing anything remarkable by bouncing back to productivity even with this handicap for a week. But...
The Art of Succession Planning
Succession planning, like any business acumen, is both an art and a science. That is to say, there are many proven strategies that can and must be followed so that successful transition can occur. Too often organizations address the ...
Time Management is a Work of Art
Strategic planning schemes in time management are fundamental steps to a promising behavior scheme. If you are a student or professional, then you are well aware that time is essential for all aspects of life. Most of us are often too busy to fit...
 
Creating a Business Strategy

On a scale of one to ten, having a good business strategy rates about a fifteen!

No matter what kind of business you have -- whether you sell products or a service, as the saying goes, "if you fail to plan, then you're really planning to fail."

Creating a strategy can mean the difference between you working 60 to 80 hours a week all year long -- and then breaking even, or worse, losing money.

On the other hand, many successful entrepreneurs who have a strategy work fewer hours and make piles of money -- and they usually attribute their success to having a strategic plan and following it.

So what is strategic business management? Very simply, it's the process of defining the goals and objectives for your business, creating an action plan so you can reach them and then following the plan.

How do you create a strategic plan for you business?

1. First, know what your vision for your company is. If there were no barriers, nothing stopping you from taking your company as far as you could -- what would that look like?

2. Next, what are your company's core operating values? What are its guiding principles? In other words, why are you in business and how do you do business?

3. Now create a 3 to 5 year plan. Your long-term plan is based on the broad objectives that will help you get from where you are now, to where you want to be.

4. Develop a plan for this year. These are the specific objectives you plan to accomplish this year that will lead you closer to your long-term goals. Remember to be "SMART" when setting your annual goals (Specific,


Measurable, Attainable, Realistic, Time-oriented). Include a list of the barriers that are stopping you from getting where you want to go. Figure out what resources you've already got, and what resources you need to get you past those barriers. And then create an action plan that clearly lays out how you will achieve your goals. Involve key employees with this part of the planning process.

5. Create a set of milestones or benchmarks. This is very important, so that you can measure your progress.

6. Share the plan with your employees, and anyone else who will be involved in the process. Your annual strategy is the roadmap that will make sure everyone ends up at the same destination -- but to be effective, everyone needs the same map!

7. Put the plan into action. Now that you have the roadmap, it's time to begin the journey.

8. Check your progress. Just like any trip, you need to check the map every now and then; to be sure you're still on the right road. If something isn't working, the sooner you figure it out and make the necessary adjustments, the sooner you'll be back on track.

9. Follow the same cycle next year. (Dream, Plan, Act, Check).

Creating a business strategy and following it will ensure that you enjoy the journey as much as getting to your final destination.

About the author:

Hans Hasselfors is a successful business entrepreneur and internet marketing consultant. Get the net working for you. Join a community of like-minded authors and publishers and make your living online. Become a member of our article directory. http://www.SubmitYourNewArticle.com

 

Strategic Planning (in nonprofit or for-profit organizations)
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Basic Description of Strategic Planning (including key terms to know)
Adapted from the Field Guide to Nonprofit Strategic Planning and Facilitation. ... Strategic planning often includes use of several key terms. ...
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Strategic Planning, Strategic Plan, Business Strategy, Strategic ...
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Strategic Planning
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Frequently Asked Questions
Strategic Planning · Fundraising · Financial Management · Risk Management · Credit Card Acceptance. The FAQs (Frequently Asked Questions) listed on this ...
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Strategic planning - Wikipedia, the free encyclopedia
Strategic planning involves defining objectives and developing ... Strategic planning uses "the big picture" to pursue large scale, long term objectives. ...
en.wikipedia.org
 
08/26/96 STRATEGIC PLANNING
You guessed it: strategic planning. Suddenly, the idea of rising above the ... But if strategic planning is back with a vengeance, it's also back with a ...
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Dr. Strategy - Dr. Pete Johnson, Keynote Speaker, Marketing ...
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Strategic Planning Society: Strategy Development and Implementation
Strategic Planning Society: Strategy Development and Implementation.
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Guide 7
Strategic Planning in Smaller Nonprofit Organizations ... In short, as a result of a strategic planning process, an organization will have a clearer idea of ...
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STRATEGIC PLANNING MANUAL
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BPubs.com: Strategic Planning & Business Planning Articles
Business Publications related to Corporate Strategic Planning.
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Strategic Planning Tools
Strategic Planning is a method for positioning an organization to take ... A strategic planning process incorporates an in-depth planning model that takes ...
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Center for Simplified Strategic Planning, Inc.
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LEADERSHIP: Strategic Planning and Strategic Management
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The CEO Refresher Archives - Strategic Planning
When done right, the integrated strategic planning process can take a ... Strategic Planning and Project Management: The Key to Successful Implementation ...
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HEFCE : Publications : 2000 : 00/24 - Strategic planning in higher ...
This guide reviews good practice in strategic planning in higher education (HE). It originated in a consultation exercise which we held in 1998 to review ...
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The Association for Strategic Planning
The Association for Strategic Planning (ASP), is a non-profit professional society whose mission is to enable people and organizations to succeed through ...
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Amazon.com: Strategic Planning for Nonprofit Organizations: A ...
Amazon.com: Strategic Planning for Nonprofit Organizations: A Practical Guide and Workbook: Books: Michael Allison,Jude Kaye by Michael Allison,Jude Kaye.
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Amazon.com: Simplified Strategic Planning: A No-Nonsense Guide for ...
Amazon.com: Simplified Strategic Planning: A No-Nonsense Guide for Busy People Who Want Results Fast!: Books: Robert W. Bradford,Robert W. Bradford,J. Peter ...
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