Strategic Planning for 2025 and Beyond Today, as part of our year-end business planning series, we’re focusing on Strategic Planning to set your business up for long-term success. It’s hard to get anywhere in life and business if you don’t know where you’re going, YOU NEED A PLAN! 🔍 Key Areas to Focus On: 1. Track and Analyze Business Value: Regularly assessing the value of your business will keep you informed of its strengths, areas for improvement, and progress over time. Consider a comprehensive valuation to establish a baseline, and then monitor value annually to stay on track. 2. Set Revenue and Value Goals: * 1-3-5-10 Year Revenue Goals: Map out realistic revenue targets for the next decade, with more specific targets for each near-term period. These milestones will help you align short-term actions with long-term aspirations. * 1-3-5-10 Business Value Goals: Establish value targets alongside revenue goals, as growing business value is key to increasing your exit options and overall market attractiveness. Aim for consistent, strategic growth that enhances business worth year-over-year. 📌 Pro Tip: Now that you have these goals in place, create a step-by-step plan outlining how to achieve them. Breaking down larger objectives into actionable steps will make it easier to stay on track and adapt as needed. Stay tuned for tomorrow’s post, where we’ll discuss Tax Strategies for 2024. BusinessValuation#StrategicPlanning#startupbusiness#BusinessStrategy#smallbusinessowner
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Founder and CEO JB Consulting & Strategies I Follow for Corporate Leadership I DM to Enhance Your Brand Identity & Corporate Reputation
Unlock your business’s potential with strategic planning Do you want to elevate your small business to new heights? Strategic planning is the way forward. Now, starting with the basics, what is strategic planning? Strategic planning involves setting a long-term vision and direction for your business. It prioritizes resource allocation, sets unified goals, and ensures adaptability to changing market conditions. It ensures all efforts align with the long-term vision. It optimizes the use of time, money, and manpower. It keeps your business proactive and ready to seize opportunities. On the other hand, business planning outlines specific goals and steps to achieve them. It includes detailed financial projections, market analysis, and operational plans. It provides clear, actionable goals. It offers a thorough understanding of market dynamics. It gives details steps for day-to-day operations. Now, let’s see how Strategic Planning + Business Planning will make a difference in the success of your business: 1. Scope Strategic Planning: Long-term vision and direction. Business Planning: Specific goals and immediate steps. 2. Focus: Strategic Planning: Prioritizes resource allocation and unified goals. Business Planning: Includes detailed financial projections and market analysis. 3. Adaptability: Strategic Planning: Ensures adaptability to changing market conditions. Business Planning: Provides detailed operational guidelines and financial insights. Combining strategic and business planning sets a long-term vision and actionable steps, ensuring your business stays focused, efficient, and ready to thrive. Agreed? #strategicplanning #businessplanning
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Right framework makes sustainability of a business long lasting & efficient. 🎯
Most businesses don’t have a formal planning document. The planning stays inside the founders head. So, how do you make sure you have your planning documented and use the right framework. Here are some tips on choosing the right framework for business planning. 1. Assess Your Business Needs: - Consider your current challenges and goals. Are you looking to improve accountability, streamline processes, or set long-term strategic goals? Different frameworks address different needs. 2. Evaluate Team Size and Structure: - Smaller teams might benefit from simpler frameworks like OKRs, while larger organizations may find comprehensive systems like EOS or the Balanced Scorecard more effective. 3. Consider Your Industry: - Certain industries may favor specific frameworks. For example, tech companies often use OKRs for their agility, while traditional industries might prefer the structured approach of a Balanced Scorecard. 4. Review Your Resources: - Determine the time and resources you can commit. Some frameworks, like the Business Model Canvas, are quick to implement, while others, like EOS, require more time and effort to fully integrate. 5. Test and Adapt: - Don’t be afraid to try out a framework and see how it fits. You can always adapt or switch to another one if it doesn’t meet your needs perfectly. Remember, the best framework is the one that aligns with your business goals, team capabilities, and industry requirements. Take the time to evaluate your options and choose the path that sets you up for success! 🚀 What’s your go-to business planning framework?
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Outsourcing General Manager | Professional Management Services | Consultant
📝 Do You Know How to Create a Business Plan for Your Company? 💼 As we enter a time of year when successful companies focus on #planning and #budgeting, it’s the perfect opportunity to share some insights on business planning. 📈 At the same time, we’re helping several clients implement this process within their organizations. For some, it’s their first experience with business planning; for others, they’re enhancing their existing practices. In either case, it’s a valuable period for learning and raising awareness about preparing to achieve new objectives. 👉 What is a Business Plan and What is Its Purpose? A #businessplan is a strategic tool that helps define your objectives, assess available resources, and identify any gaps between where you are now and where you want to be. While you may already understand these concepts, formalizing them on paper is crucial. It helps clarify your #goals and provides a structured approach, which is especially important in uncertain times. By analyzing past trends, you can create a model that reasonably forecasts future outcomes. 🔄 For management, this process is holistic and demands both the application of existing knowledge and the acquisition of new insights. Developing a business plan requires collaboration across all company sectors, addressing key areas such as growth strategies, employee management, budgeting, and more. Involving your entire team in the planning process fosters accountability and ensures everyone feels invested in the company’s success. Once goals, action plans, and required resources are clearly defined, the next step is budgeting. 💰 The ultimate goal here is to project the company’s financial performance for the upcoming year. 🎯 OGM Business Plan Development Assistance At OGM, we provide expert guidance to help you create a robust and effective business plan. Our team will engage all relevant departments to ensure that every critical aspect of your organization is included. Together, we’ll refine your strategy and mobilize your team in a way that fosters collaboration and drives success. Our approach aligns all sectors of your company, helping you create a comprehensive business plan that serves as a roadmap for achieving your goals. 🏆 🤝 By working together, we strengthen your team, inspire collaboration and help you achieve your objectives. If you’d like to hear firsthand how this process works, feel free to reach out, and I will connect you with our clients. Whether you’re a startup or an established business, we’ve helped companies of all types navigate this process successfully. #businessplan #consulting #ogm
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Business Integrated Governance thought leader, founder of the Business Integrated Governance CIC, Co founder of DeepTeam and Chairman of Corporate Project Solutions
Happy new year - time to start business planning? I don't mean to spoil anyone's day - but for many it is about now when some organisations ask their staff to spend weeks developing plans for the year ahead. Don't get me wrong - we need to plan, and we need motivational targets to drive against - but BE HONEST - how many of us find our business plans are more about putting money into buckets more than driving the organisation forwards? It's not that our thinking / planning is no good - but EVIDENTIALLY, many of us: - are not clear on business purpose We do not: - cascade objectives through the organisation very well - prioritise between objectives, or balance BAU, value creation and change - measure results related to objectives - leverage technology to manage information related to strategy delivery - operate or support the operation of 'strategy delivery' How can an organisation get on top of the implications of business planning in those circumstances!! What is the point of business planning if we can't control the implications, or tweak our plans based on progress and changes in our environment? It CANNOT BE a surprise that business plans are out of date after a month, irrelevant after 3 months, ignored after 9 months. HOWEVER - you may work for an SME that doesn't have much infrastructure and is struggling to mature in this area - but as an SME looking to survive and thrive - strategy delivery is key!! It is ok to paddle your boat harder, but at some point - you need to fit that outboard motor to go any faster. We believe you have to think BIG - and use the Business Integrated Governance Body of Knowledge (https://big-cic.org.uk/) to define the capability you need for the operation of strategy delivery. I'm starting to put together a briefing primarily aimed at SMEs to help then define and build the basics that larger organisations more often (far from always!) have behind strategy delivery. Please do revisit your planning - but this year - why not take a look at how you will be set up to systematically deliver against it? Read more here, register interest in a briefing, or contact us to find out more...fit the outboard motor.
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Happy new year - time to start business planning? I don't mean to spoil anyone's day - but for many it is about now when some organisations ask their staff to spend weeks developing plans for the year ahead. Don't get me wrong - we need to plan, and we need motivational targets to drive against - but BE HONEST - how many of us find our business plans are more about putting money into buckets more than driving the organisation forwards? It's not that our thinking / planning is no good - but EVIDENTIALLY, many of us: - are not clear on business purpose We do not: - cascade objectives through the organisation very well - prioritise between objectives, or balance BAU, value creation and change - measure results related to objectives - leverage technology to manage information related to strategy delivery - operate or support the operation of 'strategy delivery' How can an organisation get on top of the implications of business planning in those circumstances!! What is the point of business planning if we can't control the implications, or tweak our plans based on progress and changes in our environment? It CANNOT BE a surprise that business plans are out of date after a month, irrelevant after 3 months, ignored after 9 months. HOWEVER - you may work for an SME that doesn't have much infrastructure and is struggling to mature in this area - but as an SME looking to survive and thrive - strategy delivery is key!! It is ok to paddle your boat harder, but at some point - you need to fit that outboard motor to go any faster. We believe you have to think BIG - and use the Business Integrated Governance Body of Knowledge (https://big-cic.org.uk/) to define the capability you need for the operation of strategy delivery. I'm starting to put together a briefing primarily aimed at SMEs to help then define and build the basics that larger organisations more often (far from always!) have behind strategy delivery. Please do revisit your planning - but this year - why not take a look at how you will be set up to systematically deliver against it? Read more here, register interest in a briefing, or contact us to find out more...fit the outboard motor. https://lnkd.in/evyyHUsM
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Have you thought about streamlining your business planning process? Using a simple business plan template can save you time and structure your ideas effectively. This approach helps clarify essential concepts and identifies your target market, increasing your chances of attracting potential investors and avoiding common pitfalls like lack of cash flow. On the flip side, while straightforward templates are great for quick reference, they might leave out important details necessary for a deeper understanding of your business model. Some founders may find that a one-size-fits-all template isn’t flexible enough for their specific needs. An alternative is a more detailed, comprehensive business plan. This style allows for a thorough examination of all aspects of your business, from financial projections to competitive analysis. Such a plan can offer a clearer, holistic view, but it requires significant time and effort, which might be overwhelming for startups focusing on agility. Balancing both methods could be your best bet. Start with a simple template to get your ideas down quickly, then expand into a detailed plan as you clarify your strategies and gather more data. By layering your methods like this, you can ensure you’re covering all bases without feeling bogged down from the start. To maintain this balance, keep your simple plan clear and focused. Supplement it with detailed notes or appendices as you gather more information, and don’t hesitate to adjust your approach as your understanding of the market evolves. 🌟
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Happy new year - time to start business planning? I don't mean to spoil anyone's day - but for many it is about now when some organisations ask their staff to spend weeks developing plans for the year ahead. Don't get me wrong - we need to plan, and we need motivational targets to drive against - but BE HONEST - how many of us find our business plans are more about putting money into buckets more than driving the organisation forwards? It's not that our thinking / planning is no good - but EVIDENTIALLY, many of us: - are not clear on business purpose We do not: - cascade objectives through the organisation very well - prioritise between objectives, or balance BAU, value creation and change - measure results related to objectives - leverage technology to manage information related to strategy delivery - operate or support the operation of 'strategy delivery' How can an organisation get on top of the implications of business planning in those circumstances!! What is the point of business planning if we can't control the implications, or tweak our plans - and re-cascade / integrate them - based on progress and changes in our environment? It CANNOT BE a surprise that business plans are out of date after a month, irrelevant after 3 months, ignored after 9 months. HOWEVER - you may work for an SME that doesn't have much infrastructure and is struggling to mature in this area - but as an SME looking to survive and thrive - strategy delivery is key!! It is ok to paddle your boat harder, but at some point - you need to fit that outboard motor to go any faster. We believe you have to think BIG - and use the Business Integrated Governance Body of Knowledge (https://big-cic.org.uk/) to define the capability you need for the operation of strategy delivery. I'm starting to put together a briefing primarily aimed at SMEs to help then define and build the basics that larger organisations more often (far from always!) have behind strategy delivery. Please do revisit your planning - but this year - why not take a look at how you will be set up to systematically deliver against it? Read more here, register interest in a briefing, or contact us to find out more...fit the outboard motor. https://lnkd.in/evyyHUsM
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Successful businesses know strategy and planning are key to reaching operational goals. Our Strategic Planning Starter Guide is a go-to reference for small to medium businesses on how to create and implement an effective and robust strategic plan. Download it today. #strategicplanning #businessplan
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Happy new year - time to start business planning? I don't mean to spoil anyone's day - but for many it is about now when some organisations ask their staff to spend weeks developing plans for the year ahead. Don't get me wrong - we need to plan, and we need motivational targets to drive against - but BE HONEST - how many of us find our business plans are more about putting money into buckets more than driving the organisation forwards? It's not that our thinking / planning is no good - but EVIDENTIALLY, many of us: - are not clear on business purpose We do not: - cascade objectives through the organisation very well - prioritise between objectives, or balance BAU, value creation and change - measure results related to objectives - leverage technology to manage information related to strategy delivery - operate or support the operation of 'strategy delivery' How can an organisation get on top of the implications of business planning in those circumstances!! What is the point of business planning if we can't control the implications, or tweak our plans - and re-cascade / integrate them - based on progress and changes in our environment? It CANNOT BE a surprise that business plans are out of date after a month, irrelevant after 3 months, ignored after 9 months. HOWEVER - you may work for an SME that doesn't have much infrastructure and is struggling to mature in this area - but as an SME looking to survive and thrive - strategy delivery is key!! It is ok to paddle your boat harder, but at some point - you need to fit that outboard motor to go any faster. We believe you have to think BIG - and use the Business Integrated Governance Body of Knowledge (https://big-cic.org.uk/) to define the capability you need for the operation of strategy delivery. I'm starting to put together a briefing primarily aimed at SMEs to help then define and build the basics that larger organisations more often (far from always!) have behind strategy delivery. Please do revisit your planning - but this year - why not take a look at how you will be set up to systematically deliver against it? Read more here, register interest in a briefing, or contact us to find out more...fit the outboard motor. https://lnkd.in/evyyHUsM
