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Strategic Planning is defined as a process that uses the expertise of the internal management staff in the development of methods and plans to achieve goals for the company. Too many smaller businesses shy away from this process. There is nothing magic about it. Regardless of how you see the “term,” we know that a planned operation outperforms an unplanned one by over 20 percent … over and over again. So, let us lock in these well-established concepts and look at the planning approach as a tool for creating a thriving business.

Specific operating methods (strategies) devised during the planning process should focus use of resources (potentially limited by a distressed situation) of the organization in a way that addresses the opportunities available. These plans should be reduced to the achievement of specific measurable objectives that accumulate into a realization of the identified goals.

The strategic planning process is usually longer-term ... that is it uses a horizon of three to five years. Given that longer planning period, it is recognized that the plan in total will not be completed as drafted. This “capstone plan” should provide for the regular incorporation of new information and feedback. Such an approach should improve the strategies and establish additional objectives necessary to continuously move toward the supported goals.

So, do you need a longer-term strategic plan in the middle of an economic crisis? Yes, you do! You may not need nor should you take the time to do everything you might do in a more “normal” business environment. But the process is important to bubble up the proper business positioning, marketing strategies, and application of available resources.

There are many ways to segment the planning function. We have addressed a lot of the preparatory work and thinking required to develop the right plans for the conditions of your business. You can use that previous analysis to complete these “traditional” planning statements.

There is a FREE outline planning template available to you in the download area.

Simply register for your FREE membership and then go to the download area. It is a fill-in-the-blanks PDF template. You can use it to guide you through the traditional planning steps. Just fill in the blanks to get a solid start on the needed foundation for all your plans.

(You can certainly also use other planning tools or engage an experienced strategic planner to help you develop your longer-term thrive plans.)

This template will lead you through the typically accepted processes, which are as follows :

To enhance the strategic planning process, it is helpful to understand the difference between goals and objectives. The chart below provides a quick way to compare and contrast these two important terms.

The word Goals has the word Go in it. The organization’s goals should show the way forward in a specific direction.

The word Objectives has the word Object in it. Objects are concrete and physical. The organization’s objectives must be clearly outlined with timelines, budgets, and personnel requirements, and have measurable outcomes .

Do not short cut this process. You do not have months to do it, but you need to take at least a few days to really do the research and thinking to get on the right strategic path. Remember the caution provided for your edification earlier on the costs of choosing the wrong strategy.

The strategies chosen will have the controlling influence on the successful accomplishment of any business plan. Consequently, it is essential to understand what strategy is and does ... and what it is not.

STRATEGY focuses on EFFECTIVENESS, which is doing the RIGHT THINGS. TACTICS by contrast emphasize EFFICIENCY, which is doing THINGS RIGHT.

Both are important but becoming more efficient in doing the wrong things will only waste time and resources. So, identify the right strategies and constantly test them to be sure they will maximize the “Return on Effort” (ROE) as well as the “Return on Investment” (ROI) inside your organization.

Your objectives for your Foundation Plan are going to incorporate a degree of the strategies and tactics identified in the Thrive Plan. This is a repositioning phase for your marketing and expense reduction to achieve cash flow break-even operating results … at a minimum. Consequently, you need to know where you want to go after the first six months of survival work (that is, how to fulfill the company’s purpose!).

The Thrive Business Plan should cover the balance of the first twelve or fifteen months. It should be formed around a crystal-clear picture of your business and a deep understanding of “what business you are and want to be in”! The optimal strategies you will discover in your planning work should build seamlessly on the new foundation you build.

Hopefully, you found the background information in the different chapters to be stimulating to your thinking. Here is a twelve-day timeline for rapid development of your three plans to ensure survival and to craft a durable, thriving period for your business.