So, what is involved in a strategic plan?
- 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.
- 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.
- 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.