Monday, March 7, 2016

Are you strategically planning for your future?

John Albers,
Plant Manager
Every company evolves in some way throughout the years. As it changes, you may find that your tried and true business plan, that has served you well for many years, just isn’t giving you the results it once did. There could be a number of reasons why, including consumer trends, competitive pressure, manufacturing costs and changes in management. To make sure you are remaining viable in the marketplace, it would be wise to improve your plan. By creating a sound strategic plan, you will shed light on the true state of your company and create a roadmap for the future. Through strategic planning, you are developing a documented vision for your business and visualizing a map for success. You are saying, “We’re going to be around for the long haul.”

So, what is involved in a strategic plan?

  1. First, you should establish a mission statement, which is a concise statement of why your business exists. It provides a compass for business decisions, no matter who has to make them. But, statements don’t equate to a plan by themselves. A plan requires goals and a course of action.
  2. When planning out your goals, you must evaluate your competencies, structure and the marketplace. Playing to your strengths has served you well in the past, and this is one place you don’t need to invoke change. It should be the foundation in which you build from. Set your course of action through prioritization and make a short term and long term plan. You might not be able to address all of your issues simultaneously, so directing your attention and resources toward the biggest return first is the way to go.
  3. Don’t go at this alone. Your best resource is your staff. They have helped you get where you are today. You may think you have all the answers but your employees have their own experiences and perspectives. You may miss out on some great opportunities if you don’t involve them in the process. This is serious business for your future, so don’t take it on half-heartedly.

At Trigard, we are currently going through a formal strategic planning process with the sole purpose of building a stronger future for you, our employees and ourselves. I encourage you to do the same and take a close look at your business plan. Your future depends on it.


This article originally appeared in Trigard Tuesdays, our weekly electronic newsletter featuring information for the funeral industry. Sign up for your free subscription at http://www.trigard.com/tuesdays.

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