10 steps to create a strategic plan for your business

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Are you thinking about opening a new business and don't know where to start? Planning is essential. Planning is nothing more than creating a plan to achieve a certain objective. And when it comes to a company's objectives, we are talking about strategic planning.

This type of planning defines the creation and execution of a strategy, which can be annual, three to five years, or even monthly. It all depends on your business goals.

Strategic planning should help you have an overview of the company and, with it, you can make more assertive decisions when making decisions and planning the next steps for your business.

What is strategic planning?
Strategic planning is the ideal tool to differentiate your business from others in the market and achieve great results. In order to define the path that must be followed to achieve the company's goals, the plan must be clear and direct, ensuring a better understanding between customers, target audience and employees.

Good strategic planning should consider aspects of the taiwan phone number lead company's internal and external environment, in addition to defining purpose, objectives, goals and performance indicators. Planning is not a document that you create and then set aside, so we will show you 10 steps to create a strategic plan, from the conception of the basis of your company to the monitoring of results.

10 steps to create a strategic plan
1. Determine the purpose of your business
If you follow our blog, you know that determining the purpose of your business is the first step! People are increasingly interested in the “why” of companies , the reason they do what they do, and not just the services and products they have to offer.

2. Set goals and objectives
Once you have defined your purpose, it is time to think about your business’s short, medium and long-term goals. Then, define which goals need to be met to achieve these goals. We have already written a post about achievable goals here on the blog and explained how to use the SMART methodology .

3. Analyze the organization's internal environment
You need to put all your resources on paper – or a forecast of them if you are not already an entrepreneur – to understand the company’s real needs. Make a list of your strengths, that is, everything that benefits the company and helps it to prosper, and your weaknesses, everything that could harm your business.

4. And don't forget the external environment
The external environment cannot be forgotten either, as it directly influences the company's dynamics and results. Financial crises, market changes, new laws and changes in habits can directly influence the business. Analyze the strengths and weaknesses of the external environment and prepare for any unforeseen events.

5. Understand who your audience will be
Your audience is made up of your customers or potential customers. Understanding your audience involves establishing buyer profiles, with geographic, demographic, psychographic and behavioral data. Understanding your customers’ behavior and habits helps you establish effective engagement strategies.

6. Define the strategies that will be used
This is the stage in which we define how the results will be achieved, that is, which path should be followed to reach the level you dream of for your business. Taking into account all 5 criteria above (purpose, objectives, internal and external environment and audience) you can choose which strategies may be most effective for your situation.

7. Don't forget about marketing
Marketing is an essential pillar of your strategy. There is no point in having excellent products, services and customer service if your audience is not aware of your company. Establishing ways to reach this audience and establish a connection with your potential customers is the way to increase sales and create a profitable business.

8. Develop an action plan
The action plan symbolizes the tasks that must be done to achieve the goals and objectives defined in phase 2. This document should assist in the implementation of each stage of strategic planning and define what must be done and how it should be done.

9. Monitor the results
Monitoring results is a way to ensure that everything is going as planned and to make adjustments when necessary. Strategic planning should not be rigid. It should be modified as there are changes in the aspects that we have already explained here in the article, or when something does not go as planned. Use the plan to have an overview and detect what is working and what is not.