This week the focus is on completing your strategic plan for 2011.
Alice came to the fork in the road...
"Which road do I take?" she asked.
"Where do you want to go?" responded the Cheshire cat.
"I don't know," Alice answered.
"Then," said the cat, "it doesn't matter."
- Lewis Carroll, Alice in Wonderland
Do you know where you are going? A few points to consider in your plan...
What is your vision for your business?
Write a brief paragraph that describes what you want your business to look like in 3 to 5 years. What will your business be famous for? What will be your major accomplishments? How many people will be working for you? What kinds of clients will you be serving? What will be your role in the business, and how will you spend your time? These are the types of questions your vision statement should answer.
What are your specific financial goals over the next few years?
Your answer to this question is one of the most important in your plan. Everything you write after this point should directly tie back to helping you achieve your financial goals. Aspire to earn the income that you deserve. What do you want to earn over the next 12 months? Three years from now? Five years from now? Write it down, so that your plan will help you make it happen.
What is your target market?
Your plan should define your target market and then answer three questions about the people/businesses in your market:
First, is the target market large enough to allow you to achieve your financial goals?
Second, what are the current and emerging needs of your market?
Third, what attributes make up an ideal client and a "nightmare" client?
What is your edge?
Don't worry if you don't actually have an edge in place. The purpose of your plan is to identify it first, then figure out how to make it real.
What hurdles do you face in achieving any of the above?
If you need help to complete your 2011 Strategic Plan take the step to get professional help. We will be happy to provide a free phone consultation for you to assess if we can help. |
