Thinking about the future direction of your business and your business strategy? Strategic planning is key to making the necessary decisions you’ll need to make to drive your business forward. It’s about identifying the corporate objectives for your business and planning actions to achieve those goals.
Your SWOT analysis will allow you to analyse your performance, external factors outside of your control but also giving you an idea about planning to grow the business. All goof food for thought.
Your business planning will rely on aspects like the business environment. We don’t mean from a ‘pollution’ point of view but more along the lines of encouraging you to ask yourself ‘where does my business sit in the current environment and what factors should I consider’. Practical examples include; what the economy is doing, the likely effects, but also considering factors like how well-known your brand is by prospective customers. You should look at your supply chain and consider economic impacts on suppliers and the likely impacts on your business but then also consider your competitors.
This will give you the basis for some proper business strategy.
Now you’ve done the analysis ‘bit’, it’s time to consider development and implementation.
I look at it like this:
When doing any marketing or strategic planning break it into three categories.
Once you’ve broken it down, you’ll be able plan and implement your strategy.
We set up The Business Ninja to create a hub where people from different backgrounds and businesses could share their ideas and expertise.
Hopefully, there are some articles on the site that you find useful, and will help you flourish in your area of business.
Of course, if you have some words of wisdom you want to share, please get in touch and we can add you to our growing list of contributors.