It’s amazing how many businesses are busy, busy, busy but haven’t spent the time to really work out where they are headed or how they are going to get there.
We see it all of the time and it really isn’t that difficult for a business to take some time out to really understand their business and their marketplace and then put in place a plan to achieve so much more.
The first thing we do with all of our clients is to set aside a few hours to review their business and to get clear on their priorities and the best strategies for them to achieve their goals. Here are the fundamental steps that we take to put together a strategic plan for our clients:
1. SWOT Analysis
SWOT stands for Strengths, Weaknesses, Opportunities and Threats. Strengths and Weaknesses are internally focused, while Opportunities and Threats are externally focused.
2. Competitor Analysis
We operate in a competitive environment so it pays to know your competition. What are they good at, what are they weak at and what position in the market are they aiming to “own” (if any)? How can you take this information to position yourself differently and stand out from your competition?
3. Document your Goals and Plan
Once you have done the above analysis it’s time to pull it all together into a plan. This can be quite simple by capturing the following main areas:
By Anil Puri