Casual Articles
#1 in Business Subscribe Email Print

You are here: Home > Business > Small Business > Strategic Planning for a Small Business - Overcome the Challenges

Tags

  • business
  • uncertainties
  • small business
  • decisions strategically
  • forget about

  • Links

  • The Weight Loss Natural Cure They Dont Want You To Know About
  • The 7 C's of Personal Branding Success
  • Travel Sites Boost Bookings With Multi-Currency Display
  • Casual Articles - Strategic Planning for a Small Business - Overcome the Challenges

    Are You Satisfied With Your Business
    Did you know that satisfaction is the number one emotion people want to experience about their life and business? Yes, fame and fortune are up there, but satisfaction is the key. Satisfaction is about contentment, gratitude and pure joy. Are you satisfied with your business and your life? If not, read on and see how you can transform your life in the simplest method possible.To be satisfied is to enjoy each step along the way, to be able to integrate the practical with the fanciful, to continually refine your dream or vision.You need a vision for your business. You had it at least once in your life, especially if you chose to go into business for yourself. You may be making the money that you want, have fame in your community, but still are unhappy and wonder – "Is that all there is?"If you are in any way unhappy or dissatisfied with your life or your business, you need to re-i
    ies.

    Out of strategic planning come decisions like: "we will approach this target market, not that one", "we will offer these products or services, not those", "we will accomplish this objective before anything else." Written plans demonstrate that careful consideration has been given to the future. It is easier to make these kinds of decisions strategically with a longer-term view. When things get stressful, it becomes difficult to see all of the options well enough to make educated decisions.

    "We have a basic idea of where we are headed, why write it down?"

    Unwritten goals are simply thoughts that will change as often as your opinions change. The act of writing out goals helps to clarify them and can provide an objective way of tracki

    What Are People Buying Online?
    Benefits, that’s what!Whether you’re selling in print or in person, it’s a universal truth.And success in both worlds requires a counterintuitive approach.Allow me to explain.As human beings, we are all pre programmed from birth to behave in certain ways. And one of the strongest things that drive us is an awesome pre occupation with our own self-interests.You really don’t have to look very far to see that this is true. The world is cluttered with marketers whose messaging is about them.They talk about all of the features of their product, and the advantages of doing business with their company. Its just human nature to express ourselves this way when we’ve poured our lifeblood into the development of a product, or a business, isn’t it?But features, and advantages, are not what people buy.People Buy Benefits!Some quick definitions,Features – Th
    WHY PLAN?

    Things are ok. But how do you know you are thinking BIG enough? Are you leveraging the strengths, interests and talents on your team? Will you wind up in a place that will make you happy? What exactly is the best game plan? It is not that you haven't been thinking about these questions. The business environment is complex and the choices are daunting. How do you answer the hard questions?

    For the same reasons that pilots use maps when they fly cross-country and chefs follow recipes, it makes good sense to work towards organizational and personal goals with a written plan. One can operate without a plan, and many do, but the results probably won't be optimal.

    A strategic thinking and planning process can help to create a framework where you take control of the business, instead of sitting back and watching the business taking control of you. For many, the process of planning (thinking, discussing, researching and analyzing) is even more useful than the final plan. A planning process can help to sharpen a vision, evaluate alternative paths, build common understanding and commitment, balance dreams with reality, and transform uncertainty into action.

    SOUNDS GOOD BUT MOST SMALL BUSINESSES DON'T PLAN

    Although there is a lot of research correlating success with planning, it probably won't surprise you that the majority of small businesses don't have a written strategic plan. The reasons why are varied but some common themes include: "It's not the best use of my/our limited time", "planning takes away flexibility", "there are too many uncertainties", "we have a business plan", "building consensus is too difficult", and "it will cost too much".

    These are all real concerns, especially to the small business owner. The dichotomy is that the very reasons why organizations avoid planning are the same reasons that planning can be so effective. Let's take a look....

    TIME- "We are so overwhelmed - hiring, making sure our customers are happy, getting new products out - we just don't have time to think about next week, forget about next year. Somehow, the future will just have to take care of itself." Thinking versus action provides a dilemma for many professionals. We are action oriented. When we are doing something, we feel productive. When we take the time to think, we feel unproductive. We need to do both. Without investing the time and effort to think about where we're headed, it is likely we won't get there.

    When we become so involved in the day to day that we risk losing perspective, it is time to step back. If we stay mired in the trenches, the easiest solution is often implemented, not the best one. Planning takes time, but it leads to a focused use of the limited time available.

    FLEXIBILITY- "We like to stay open to opportunities as they arise."

    Creating a strategic plan doesn't mean that your business can't be flexible. A plan sets the foundation so that when things start changing; there is a baseline from which to evaluate new opportunities.

    Out of strategic planning come decisions like: "we will approach this target market, not that one", "we will offer these products or services, not those", "we will accomplish this objective before anything else." Written plans demonstrate that careful consideration has been given to the future. It is easier to make these kinds of decisions strategically with a longer-term view. When things get stressful, it becomes difficult to see all of the options well enough to make educated decisions.

    "We have a basic idea of where we are headed, why write it down?"

    Unwritten goals are simply thoughts that will change as often as your opinions change. The act of writing out goals helps to clarify them and can provide an objective way of trackin

    Knowledge Management
    One of great challenges for any business is to learn to efficiently and cost effectively leverage knowledge on an enterprise wide basis. We have all heard the saying that “knowledge is power”…we’ve all also heard the refinement of that saying which states that “the application of knowledge is power”. I prefer to take it one step further and say that “the successful application of knowledge at the right time, for the right reasons and with the proper emphasis results in a certainty of execution that creates power.” In this blog post I’ll provide you with some insights that will help you to not only leverage your knowledge to increase returns, but also how to protect your knowledge to mitigate risk.Let’s begin by defining knowledge management (KM)…While this alone may spur fierce debate, for simplicity sake I’ll define knowledge management as: “an organization’s ability to collect and convert data into infor
    ork where you take control of the business, instead of sitting back and watching the business taking control of you. For many, the process of planning (thinking, discussing, researching and analyzing) is even more useful than the final plan. A planning process can help to sharpen a vision, evaluate alternative paths, build common understanding and commitment, balance dreams with reality, and transform uncertainty into action.

    SOUNDS GOOD BUT MOST SMALL BUSINESSES DON'T PLAN

    Although there is a lot of research correlating success with planning, it probably won't surprise you that the majority of small businesses don't have a written strategic plan. The reasons why are varied but some common themes include: "It's not the best use of my/our limited time", "planning takes away flexibility", "there are too many uncertainties", "we have a business plan", "building consensus is too difficult", and "it will cost too much".

    These are all real concerns, especially to the small business owner. The dichotomy is that the very reasons why organizations avoid planning are the same reasons that planning can be so effective. Let's take a look....

    TIME- "We are so overwhelmed - hiring, making sure our customers are happy, getting new products out - we just don't have time to think about next week, forget about next year. Somehow, the future will just have to take care of itself." Thinking versus action provides a dilemma for many professionals. We are action oriented. When we are doing something, we feel productive. When we take the time to think, we feel unproductive. We need to do both. Without investing the time and effort to think about where we're headed, it is likely we won't get there.

    When we become so involved in the day to day that we risk losing perspective, it is time to step back. If we stay mired in the trenches, the easiest solution is often implemented, not the best one. Planning takes time, but it leads to a focused use of the limited time available.

    FLEXIBILITY- "We like to stay open to opportunities as they arise."

    Creating a strategic plan doesn't mean that your business can't be flexible. A plan sets the foundation so that when things start changing; there is a baseline from which to evaluate new opportunities.

    Out of strategic planning come decisions like: "we will approach this target market, not that one", "we will offer these products or services, not those", "we will accomplish this objective before anything else." Written plans demonstrate that careful consideration has been given to the future. It is easier to make these kinds of decisions strategically with a longer-term view. When things get stressful, it becomes difficult to see all of the options well enough to make educated decisions.

    "We have a basic idea of where we are headed, why write it down?"

    Unwritten goals are simply thoughts that will change as often as your opinions change. The act of writing out goals helps to clarify them and can provide an objective way of tracki

    The New Branding Awareness - A Value Based Concept
    The new branding awareness is about when you take ownership of a commodity, a special talent, concept or product. What is it that you stand for? What you stand for is an experience that your customers feel from you.Don’t be ShyWhen it becomes for you to take a stand, you cannot be shy about it, you need to back it up totally, no matter what other people think of you, say about you, you need to promote it and be it.Your brand needs to be value-based, like giving extra WOW customer service and being good corporate citizens will build brand equity, the end result will lead to more sales. The good feeling experiences you provide, is what will count for the customer to buy from you. Did you know that 72% of North Americans prefer to buy form value-based companies?Developing your brand starts with you, from the inside out. The first step in branding you is learning to be who you are and if
    ted time", "planning takes away flexibility", "there are too many uncertainties", "we have a business plan", "building consensus is too difficult", and "it will cost too much".

    These are all real concerns, especially to the small business owner. The dichotomy is that the very reasons why organizations avoid planning are the same reasons that planning can be so effective. Let's take a look....

    TIME- "We are so overwhelmed - hiring, making sure our customers are happy, getting new products out - we just don't have time to think about next week, forget about next year. Somehow, the future will just have to take care of itself." Thinking versus action provides a dilemma for many professionals. We are action oriented. When we are doing something, we feel productive. When we take the time to think, we feel unproductive. We need to do both. Without investing the time and effort to think about where we're headed, it is likely we won't get there.

    When we become so involved in the day to day that we risk losing perspective, it is time to step back. If we stay mired in the trenches, the easiest solution is often implemented, not the best one. Planning takes time, but it leads to a focused use of the limited time available.

    FLEXIBILITY- "We like to stay open to opportunities as they arise."

    Creating a strategic plan doesn't mean that your business can't be flexible. A plan sets the foundation so that when things start changing; there is a baseline from which to evaluate new opportunities.

    Out of strategic planning come decisions like: "we will approach this target market, not that one", "we will offer these products or services, not those", "we will accomplish this objective before anything else." Written plans demonstrate that careful consideration has been given to the future. It is easier to make these kinds of decisions strategically with a longer-term view. When things get stressful, it becomes difficult to see all of the options well enough to make educated decisions.

    "We have a basic idea of where we are headed, why write it down?"

    Unwritten goals are simply thoughts that will change as often as your opinions change. The act of writing out goals helps to clarify them and can provide an objective way of tracki

    Tips for Leading Change: Reduce Sabotage-Increase Profits While Moving Through Transitions
    LEADING CHANGEThe momentum of change continues to build. If you or the organization you work with is not prepared for ongoing change then you risk the possibility of being overwhelmed and left for dead by the Superhighway of life! This dramatic metaphor is reported constantly by the predictors of business and economic trends. With technology and Globalization of trade driving these trends, we must learn to adapt, gracefully, to this change or be playing the very difficult role of catch-up.To illustrate my point, have you notice any changes to your work or family life in the past 30 years? Perhaps you only have to go back ten years. Think back to the late 1980's, home computers were just catching on in a big way (productivity at home, not just games.) Fax machines were beginning to be used on a regular basis in small and large offices. You could still buy phonograph records. Pagers were catchi
    we feel productive. When we take the time to think, we feel unproductive. We need to do both. Without investing the time and effort to think about where we're headed, it is likely we won't get there.

    When we become so involved in the day to day that we risk losing perspective, it is time to step back. If we stay mired in the trenches, the easiest solution is often implemented, not the best one. Planning takes time, but it leads to a focused use of the limited time available.

    FLEXIBILITY- "We like to stay open to opportunities as they arise."

    Creating a strategic plan doesn't mean that your business can't be flexible. A plan sets the foundation so that when things start changing; there is a baseline from which to evaluate new opportunities.

    Out of strategic planning come decisions like: "we will approach this target market, not that one", "we will offer these products or services, not those", "we will accomplish this objective before anything else." Written plans demonstrate that careful consideration has been given to the future. It is easier to make these kinds of decisions strategically with a longer-term view. When things get stressful, it becomes difficult to see all of the options well enough to make educated decisions.

    "We have a basic idea of where we are headed, why write it down?"

    Unwritten goals are simply thoughts that will change as often as your opinions change. The act of writing out goals helps to clarify them and can provide an objective way of tracki

    Supply Chain Integration
    Let's take a quick look and analyze your position in the Supply Chain. You are either the one driving the truck, the one pumping the gas, or the one paying the other two. It does not matter if you are a vendor, supplier, manufacturer, dealer, service supplier or customer, the cost of freight either impacts the amount you charge, the amount you are reimbursed or the price you pay. It is safe to assume that you are the center of the universe for your personal Supply Chain and that suppliers and customers revolve around your business. That was easy, now let's move on.A zeitgeist must first understand how the threads of history have been woven to reflect the patchwork quilt of the current generation, and only then endeavor to peer into the next. Let's take a moment to contrast emerging communication technologies as reflected with Supply Chain Solutions and transportation.The Pony ExpressTh
    ies.

    Out of strategic planning come decisions like: "we will approach this target market, not that one", "we will offer these products or services, not those", "we will accomplish this objective before anything else." Written plans demonstrate that careful consideration has been given to the future. It is easier to make these kinds of decisions strategically with a longer-term view. When things get stressful, it becomes difficult to see all of the options well enough to make educated decisions.

    "We have a basic idea of where we are headed, why write it down?"

    Unwritten goals are simply thoughts that will change as often as your opinions change. The act of writing out goals helps to clarify them and can provide an objective way of tracking them against actual results. Magic happens when you put goals on paper, they start to become real. You begin to make commitments, and are open to opportunities you may not have noticed before.

    UNCERTAINTY- "Strategic planning is a business school concept developed when people thought they could anticipate and predict the future. How can we plan in a world that is highly uncertain?"

    Uncertainty is a real issue in forward planning. However, putting our heads in the sand probably isn't the best solution. Most organizations have their strategies, structure, and service offering challenged on a regular basis. To remain successful it is vital to ask the following strategic questions on a regular basis:

    Where are we now? Where are we going? How are we going to get there?

    Strategic planning helps a business evaluate market opportunities. To do this effectively, the process includes collecting and analyzing information about the business environment, understanding internal strengths, and developing a set of 'key assumptions'. Optimal strategies are designed based on all of these factors. As the environment changes, so should our plans. One way to assess whether it is time to conduct a new strategic planning process is to check your list of 'key assumptions' on an annual basis to see if anything has changed.

    I HAVE A PLAN- "I wrote a business plan when I started the business"

    The act of strategic planning is often confused with a business plan. Business plans are usually drafted to obtain financing, then wind up filed away. The strategic planning process is an activity that is conducted every few years to evaluate opportunities, wrestle with environmental changes, build consensus, and to create updated goals. The output (a strategic plan) is a short working document that defines the positioning and future of the organization, with an action plan to get from here to there.

    ORGANIZATION DYNAMICS- "I could never get everyone to agree on the best way to move forward. Anyway, shouldn't it be my vision?"

    An effective planning process will help to get people talking, and ensure that the business owner/CEO benefits from the ideas of his/her team. A good process is designed to build confidence, support and commitment among all involved. Even if only a limited group is included in the process, the completion of a strategic plan provides a great opportunity to communicate the company's direction and core values to employees.

    The use of an outside facilitator can greatly enhance the effectiveness of a planning process and keep the process on track. There is often a strong tendency of those participating to focus the discussions on today's problems. An outside facilitator can help to broaden thinking and make sure that new ideas and directions are generated.

    COST- "We don't have a budget for planning."

    With all the activities that make up running a business, setting priorities in the context of a plan is important. Without a plan, the limited resources of a

    HTTP = HTML link (for blogs, profiles,phorums):
    <a href="http://www.casualarticles.com/article/40593/casualarticles-Strategic-Planning-for-a-Small-Business--Overcome-the-Challenges.html">Strategic Planning for a Small Business - Overcome the Challenges</a>

    BB link (for phorums):
    [url=http://www.casualarticles.com/article/40593/casualarticles-Strategic-Planning-for-a-Small-Business--Overcome-the-Challenges.html]Strategic Planning for a Small Business - Overcome the Challenges[/url]

    Related Articles:

    Your Small Business Start-Up Kit

    How to Sing the Song of the Unsung Heroes on Your Team

    Four Tips To Make People Read Your Business Sales Letter From Start To Finish

    Bookmark it: del.icio.us digg.com reddit.com netvouz.com google.com yahoo.com technorati.com furl.net bloglines.com socialdust.com ma.gnolia.com newsvine.com slashdot.org simpy.com shadows.com blinklist.com