3 Step Process to Strategy Development for a Small Business

Everybody always tell you that it is important to have a strategy plan. But not everybody tells you “WHY?” I have learned over the years that a solid strategy plan is vital to get you and your team on the same page.

Having a sound strategy plan will allow you to:

  • Share your vision and goals with everyone in the company.

  • Identify, evaluate and share the best way to accomplish your goals.

  • Make sure you are not wasting valuable time and money on projects or activities that are not important. 

  • Understand industry trends and scenarios that could impact your company in the coming years.

 

Develop an implementation plan to keep you and your team on track. A strategy plan is a tool to guide leadership and employees towards the future.

However, the document that contains the strategy plan is not what is valuable, It is the information within it and the process used to create it that defines the value.  It is this value that you can share and communicate with everybody so that they know where the company is going and why you are going there.

A great strategy plan is a living document and needs to be re-evaluated on an ongoing basis.

Now that you know the importance of a strategy plan, let's walk through the strategy development process in three steps:

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