Strategic planning and development
In growing a business, there are many decisions that will need to be taken about the way you want to expand your operations. A strategic plan is a key component of developing the business. It will help you prepare a realistic vision for the future of your business and in doing so can maximise your business's ability to grow and achieve its aims.
A strategic plan is different from a business plan and typically focuses on mid to long-term goals and explains basic strategies for achieving these goals.
Developing a strategy requires an understanding of the way your business works and its position relative to other businesses in your markets.
The first step is not to set your objectives. The first step is to assess what you can achieve with the resources and skills that you have.
You then need to establish where your business is at the present time. This requires an awareness of how your business functions, including how it operates internally, what drives its profitability, and how it compares with its competitors.
You then need to have a clear idea of what you want to achieve. This includes working out your vision, mission, objectives, values, techniques and goals. Where do you see your business in five or ten years? What do you want to be the focus of your business? What is, or should be, the advantage you have over rivals in the marketplace?
This sets the way for understanding what is needed to achieve your aims. Significant change may be needed - what is the best way of implementing change? Consider the involvement of your people, the finance required and the actions that need to be taken.
Alexander Sloan are experienced business advisers. We can help you achieve your goals, whether they be small steps or serious change.
Contact us to discuss how our team can help you.