7 Benefits of Strategic Planning

Do you know where you are going ?

If you don’t know where you are going, then any road will take you there.

For some, “Strategy” and “Strategic Planning” is something that is done once a year which results in a report that then gets lost in a cupboard somewhere!!

Strategic planning can have an immediate influence on your company and organization.

 

1. Make your future happen – don’t just let it happen to you
It is the difference between being proactive or reactive.  Be on the defensive or the offensive.  Be a victim of circumstances or be victorious in the fight.  Not every situation can be foreseen but you can make decisions and react to changing market conditions with the end in mind.

 

2. Establish direction
Clearly defines the purpose of the organization and establishes realistic goals and objectives consistent with the mission which can then be clearly communicated to all. It provides a base from which progress can be measured, employees compensated and boundaries established for effective decision making.

 

3. Make wise business decisions
How do you distinguish between a good idea and a great idea?  Without a clear vision of what you want to achieve, and mission or purpose for doing it, everything seems like a good idea.  What project do you invest in?  How should you and your staff invest your time?  Having clarity about what you want to do, who you need and how to get there will focus limited financial and people resources.

 

4. Create longevity of the business
The world market and industries are changing faster than ever and those companies who do not have a solid foundation and have relied on luck or opportunity most likely will not be around for the future.  Data reflects that one out of every three companies at the top of their industry will not make be there in five years.  Don’t let that be you. Focus is powerful.

 

5. Increased profitability and market share
Focused planning and strategic thinking will uncover the customer segments, market conditions, and products / services that are in the best interest of your firm.  A targeted approach to markets and opportunities which guide your sales and marketing efforts, distribution and other business decisions, ultimately means more profit to the bottom line and a stronger market position.

 

6. Unique differentiation
Companies have gotten so used to looking at their competitors and their best practices and then trying to duplicate them making it harder to tell companies apart.  They all start to look the same with less distinction in unique value.  Strategy means having a unique differentiation that sets you apart from your competitors.

 

7. Increased job satisfaction –meaningful and full of purpose
Consistently one of the top reasons for leaving a firm is the lack of job satisfaction.  People need to have a motivation to come to work and feel like part of the team.  It has been proven that employees are the greatest source for innovative ideas. The purpose and meaning of work gives a new focus and reason to show up each day.

 

Do you have a clear strategy and vision? Do you have a clear process for strategic planning?

 

Get in touch today to get your free strategy call to help you explore how you can have an efficient strategic planning process…. and get you where you want to be….

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