Has your Business got a Strategic Plan That’s Working?
In today’s world, you must be constantly updating and making the necessary changes to stay ahead of your competition. Every business is looking for a year-on-year growth and we have developed a program that can help you create change and focus for the next 1-3 year period.
To create change and diversity in your business you need industry experts to help you with your journey. This is especially the case if you are a family business, or a business looking to make changes to grow or expand. If you want to eventually sell your business, you need to create a succession plan internally (staff or family) or prepare your business for sale in the future and get the highest price by seeking the right advice from experts.
At KBA we are very passionate about taking businesses from good to great. We can help you with this process and assist you to achieve your business and personal goals. With competitive markets popping up everywhere, it’s better to be prepared and not delay this process. You will also be surprised just how much more motivated you will be working on your business!
Purpose of a Strategic Plan
The purpose of creating a strategic plan is to set goals for your organisation by having a solid plan to achieve them.
The reason for having a strategic plan is to have the company’s stakeholders all agree on areas that can be improved in the short-term, as well as long-term performance within the business. The aim of strategic planning is to build agreement among the top people in an organisation concerning its destiny. Such consensus can also enhance morale and motivation. This agreement, understanding, and alignment enable consistent measurements, the achievement of continued improved performance. It is important that everyone is responsible for their actions to produce the results needed for the business to grow.
What is a Strategic Plan?
A strategic plan is a document that establishes the direction of a company and each business unit/ department. Each manager within each business unit/ department will benefit from having ownership in this strategic plan. The process of developing a plan helps all stakeholders (and the team) step back and examine where they are now, where they want to go, and how to get there.
This plan focuses on 10-key areas that need improvement, so your business can grow to its full potential and beyond.
10-Key areas to work on to grow your business:
- People Structure and Depth
- Products and Services
- Marketing Plan
- Systems & Processes
- Financial Plan
- Business Goals
- The HOW Plan
- Exit Strategy
How does it work?
KBA believes having a strategic plan in place will help with the overall performance of the business. Developing an effective Strategic Plan for your organisation will take time if done properly and will provide you with a tangible document that you can refer back to, outlining the strategic goals of your entire organisation at your fingertips.
Our purpose at Key Business Advisors is to take customers on a journey to help them improve their business through all aspects of employee engagement and performance and developing a strategic plan incorporates all aspects and then prepares your organisation for when you eventually decide to move on.
Reasons why you might need a strategic plan for your business?
- Often large loans from the bank require a well-documented Strategic Plan
- If you wish to expand or grow your business, a strategic plan is needed to ensure the necessary steps are taken
- If you wish to sell your business in the future, a strategic plan will outline your exit strategy, ensuring you receive the best price worthy of your hard work and dedication
- If you wish to engage an Advisory Board in the future, they want to know everything about your company including the inputs and outputs and what is happening inside business such as the drivers, tools and internal functions that make your business tick on a daily basis.