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Do you have a strategic plan?

Do you have a strategic plan? | Strategic Planning for growth | Scoop.it

When was the last time you looked at your strategic plan? Do you have a strategic plan?

 

In order for a business to be successful, there needs to be a roadmap for success.

 

A strategic plan provides direction for the company and goals for employees. It helps departments focus on priorities and aligns the departments with company goals.

 

A strategic plan should be completed in three steps.

paulgreen's insight:

A strategic plan does not have to be hefty and complex, the points covered in this article will provide you with the necessary guidance to compose your plan.

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AlGonzalezinfo's curator insight, June 19, 2013 5:55 PM

Great Scoop Paul! I really like the way Carol Lopucki breaks down the process to simple and achievable steps.  

Strategic Planning for growth
Planning for business growth through strategic planning
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The Best Way To Make Sure You Actually Implement Your Strategic Plan

The Best Way To Make Sure You Actually Implement Your Strategic Plan | Strategic Planning for growth | Scoop.it

Is there a strategic plan in the bottom of your desk drawer, taking up space and chastising you every time you look into that dark corner? Don’t be ashamed – you’re not alone. But in the spirit of turning over a new leaf for the new year, here are some tips for translating your strategic plan into actual action that will lead to positive changes.

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Business Plan vs. Strategic Plan

Business Plan vs. Strategic Plan | Strategic Planning for growth | Scoop.it

Is the business plan dead? Have strategic plans taken their place? Are they one in the same? Do you even need a plan to have a successful business?


Just like in business, I believe business plans and strategic plans must transcend old school convention and be used as a catalyst for start up, growth and the revitalization of a business.

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How to Plan Your 2014 Social Media Strategy

How to Plan Your 2014 Social Media Strategy | Strategic Planning for growth | Scoop.it

Did you ever dream of being a worldshaker? Or maybe you’ve got more humble aims, and you’d just like your social media marketing to go well next year.


Either way, you’d do well to follow the advice of Archimedes. This Greek inventor, math geek and all-around clever guy knew exactly what it would take to shift the earth out of its orbit around the sun.


“Give me a place to stand on, and I will move the Earth.”


Archimedes had worked out that if you have the right leverage, you can shift the whole world with the push of your pinkie. (He was also the guy who jumped out of his bath and ran through the streets in his birthday suit shouting “Eureka” after he solved a problem with the king’s crown).

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10-Step Business Planning Process

10-Step Business Planning Process | Strategic Planning for growth | Scoop.it

Developing your business plan can be a time consuming process because there are many elements that must be covered and sometimes it is hard to get started and organize all the details you need for your business plan.


Behind every successful business plan there is a carefully executed business analysis. Creating a business plan involves variety of important parts like marketing plan, financial plan, operational plan, sales forecast and budget.


In order to develop a good business plan, one which will be an effective guideline for your business, there is a business planning process you should follow in order to analyze your business and integrate the individual pieces together.

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Why You Don’t Want Your Accountant Creating Your Strategic Plan

Why You Don’t Want Your Accountant Creating Your Strategic Plan | Strategic Planning for growth | Scoop.it

If you want to have the best possible chance of rapidly growing your business this year, then you don’t want to have your accountant leading your strategic planning process. Why? Not because I have anything against accountants. I happen to like them. 

 

But the reason most accountants are bad strategic planners (along with a lot of business owners, entrepreneurs and CEOs) is because of their natural orientation concerning numbers (i.e. they have a natural preference for numbers and a predilection toward the past).

 

In other words, most accountants have a bias toward creating a strategic plan based on past performance (e.g. what have we done in the past and how can we do that incrementally better) and spreadsheets/numbers/metrics—both of which can be detrimental to your strategic plan (and growth) for this coming year.

paulgreen's insight:

A great article - your business is not just about the numbers. Whilst you should measure your profit and your cashflow, if you are looking strategically at your business, you need to consider all areas: marketing, operations, sales, resources, etc.

 

 

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4 Ways to Effectively Communicate a Strategic Plan

4 Ways to Effectively Communicate a Strategic Plan | Strategic Planning for growth | Scoop.it

The most common complaint is the difficulty of how to effectively 
communicate a strategic plan. In fact, depending on what report you read, 70-90% of strategic plans that fail do so because of poor execution. 

 

Not only that but plans that “work”, only achieve 66% of potential value.

 

Ouch! That is a lot of work for so little gain.

 

So figuring out how to improve strategic implementation has a big payout. There are many reasons why plans don’t realize their goals. The top reason, accounting for over 7% of the gap is inadequate resources.

 

Reasons 2-10 all have to do with ONE thing and account for over 30% of diminished results. So if you can only do one thing, do the thing that counts the most: COMMUNICATE!

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Elements of Social Media Strategic Plan (Infographic)

Elements of Social Media Strategic Plan (Infographic) | Strategic Planning for growth | Scoop.it

Every time when we decide to launch social media accounts for ourselves or for our companies and organizations, the first question we ask is about our future social media strategy. That is not enough just to open accounts, profiles or fan pages in social networks. We should clearly understand how we can utilize them with maximum outcome.

 

Often people are confused between strategies and strategic plans for the social Web. That’s really uneasy to differentiate those terms due to vast amount of controversial advice from experts

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5 Steps To Put Your Strategic Plan Into Action

5 Steps To Put Your Strategic Plan Into Action | Strategic Planning for growth | Scoop.it

Question: What’s worse than a bad strategic plan?
Answer: A good strategic plan that doesn’t go beyond paper.

 

One of the toughest things about strategic planning is bringing the action plan to fruition. Everyone on the planning team agreed to the strategy, but how will this translate to execution? Will the same dedication be showed? Does it involve the same team?

 

Putting a strategic plan into action doesn’t have to be intimidating.

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Narciso Arméstar Bruno's curator insight, November 10, 2013 4:12 PM

no solo es importante generar estrategias, sino lograr hacerlas realidad au traves de la accion.

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What is Strategy? Three simple rules to get you started

What is Strategy? Three simple rules to get you started | Strategic Planning for growth | Scoop.it

What is business strategy?  Whether you are totally new to strategy or have been around it for years, there can be a lot of confusion and misconceptions about real business strategy.  Many make the mistake of equating business strategy with market strategy, focusing strategy efforts on “how to get and keep customers” while ignoring some of the foundational strategy prerequisites.  Others confuse business goals and planning with strategy itself.  

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What Is Strategic Planning And How Do I Get Started?

What Is Strategic Planning And How Do I Get Started? | Strategic Planning for growth | Scoop.it

Strategic planning is the all-important task of defining your business, brand or company’s strategy. How will you set, implement and meet your goals? What are your goals? Who is responsible for making these strategies real, tangible and credible?

 

According to nearly any business, strategic planning includes four, basic pillars:

 

Vision

Mission

Values

Strategy

paulgreen's insight:

Good question - you have to start somewhere!

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8 Questions to Ask Before Launching a Strategic Planning Process

8 Questions to Ask Before Launching a Strategic Planning Process | Strategic Planning for growth | Scoop.it

If you are considering launching a strategic planning process, either for your organization overall or for a specific part of the business, you have obviously done some thinking about it to get to this decision point.

 

Before taking your first steps to either implement the strategic planning process yourself or engage an outside party to lead you through the process, here are eight questions to ask.

 

Maybe you have already addressed some of these questions about your strategic planning process, but my guess is you likely have not tackled all of them

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Strategic Planning Made Easy: Ten Simple Steps

Strategic Planning Made Easy: Ten Simple Steps | Strategic Planning for growth | Scoop.it

Business owners seem to equate Strategic Planning with having a tooth pulled. It’s not that hard, I promise! It’s well-known that most successful entrepreneurs regularly complete a strategic plan.

 

Any size business; from a mom-and-pop to a corporate giant, can achieve great things with the help of a thoughtful strategic plan.

 

Some business owners are just plain afraid of planning, or don’t know where to begin. Let’s simplify it.

 

Here are some basics to keep in mind; this is not about a to-do list.


This is about the big-picture; where you are going, how you’ll get there, and why you are in business in the first place. It’s about measuring the progress.

paulgreen's insight:

Strategic planning doesn't have to be hard - this article may help.

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Thoughts on Strategic Planning (video)

Thoughts on Strategic Planning (video) | Strategic Planning for growth | Scoop.it

In this video I share some of my thinking around strategic planning, strategic planning retreats, execution of the plan and keeping your people focused and engaged around the plan. I hope you find this of value and will share it with your colleagues.

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Is it time to start a strategic plan for your business?

Is it time to start a strategic plan for your business? | Strategic Planning for growth | Scoop.it

Strategic plans can be used as a road-map charting the path to meeting your goals.  Are you looking to grow? Do you know how you will reach your goals? Do you know who is accountable for all the moving parts of your organization? Are you measuring the effectiveness of your initiatives?


How will you know what your organization needs to be competitive?


A strategic plan in most large organizations is considered a standard practice. They are useful tools that allow organizations to stay focused on reaching their goals to get the desired results.

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Five steps for 2014

Five steps for 2014 | Strategic Planning for growth | Scoop.it

For many business owners, it’s the right time to map out a strategic plan for next year. A well-crafted business plan is your roadmap to success and an easy way to stay on task for future growth, projected income and increased profits. Take one or two days now to develop a plan and you will save time, energy and maybe even a few dollars. Here’s how to develop a business plan for 2014 in five easy steps.

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6 things that undermine a strategic communications plan

6 things that undermine a strategic communications plan | Strategic Planning for growth | Scoop.it

The term “strategic communications” is not just business jargon. 


A well-designed communications plan is a strategic asset; it can boost brand value, enhance relationships with customers and partners, and build your reputation, while reducing inefficient PR and communications spending. 


Assuming you know how to develop a plan that focuses on the right message mix, communications channels, and tactics, how can your plan fall short?

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What You Can Do Today to Make Tomorrow More Productive

What You Can Do Today to Make Tomorrow More Productive | Strategic Planning for growth | Scoop.it

It's in your nature to think bigger and as an entrepreneur you're designed to want to make more. But to experience the success you want to achieve, you must use your time, energy and focus wisely.

 

With 96 blocks of 15 minutes in a day, be careful about letting yourself fall into the email, meeting or "do-you-have-just-a-minute-to-talk" traps. Guard your time carefully.

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Developing an Effective Strategic Plan

Developing an Effective Strategic Plan | Strategic Planning for growth | Scoop.it

Strategic planning – now there’s a scary subject.  When you hear those terms, you’re likely to think about military strategy, perhaps even a game of chess.  In life, whether it’s part of the job hunt or not, having a plan is crucial.  Not only is it important to have a plan, it’s also good to know the plan and adjust it as things change. 

 

“Vision without execution is a daydream. Execution without vision is a nightmare.” -Japanese Proverb

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4 Steps To Truly Making Strategy Part Of Your Strategic Plan

4 Steps To Truly Making Strategy Part Of Your Strategic Plan | Strategic Planning for growth | Scoop.it

The problem is, your strategic plan will probably not actually be strategic. Indeed, strategic planning was never meant to be so. It was born out of the need, in the early 1920s, to better manage unpredictable business cycles, and by the 1950s had evolved into a short-term budgeting exercise.

 

In the late 1950s, strategic planning began extending its foresight, evolving into “long-range” planning and started incorporating game theory, SWOT analyses, and scenario planning. But the practice has always sought to help your business or team understand the environment and decide how to react.

 

In other words, our tools, indeed our entire approach, helps us react, not shape; predict not change; remove uncertainty, not create the kind of exciting unexpected changes that can really lead us to greatness.

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9 Mistakes To Avoid While Forming A Strategic Plan

9 Mistakes To Avoid While Forming A Strategic Plan | Strategic Planning for growth | Scoop.it

Putting a strategic plan together can be tedious, difficult and a real headache. There’s a lot of data to sift through, plus a mix of gut feel and logic that you’d have to balance.

 

It takes a lot of determination and patience, but when you’ve got your final strategic plan on paper, you will feel that the hard work is all worth it! It will, after all, guide your business in the next year or two.

 

There are a lot of pitfalls to avoid when writing your business’ strategic plan. 

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5 Secrets of Marketing Strategy for SMEs (video)

5 Secrets of Marketing Strategy for SMEs (video) | Strategic Planning for growth | Scoop.it

Along with the exciting prospects that come with running a small or medium sized business there is a heavy workload, and if you don’t plan your company’s direction ahead of time, you’ll find yourself struggling to balance your time.

 

However, with some strategic planning into the best way of marketing your products, services and brand, you can render many business dilemmas obsolete and concentrate on running a successful company.

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Strategy or Execution: Which Is More Important?

Strategy or Execution: Which Is More Important? | Strategic Planning for growth | Scoop.it

I once heard a business leader say, “Strategy is results.” He meant that strategy doesn’t matter as long as you are producing results. Many other business leaders feel the same way.

 

Often, this is because they associate strategy with analysis and execution with getting things done, and they attribute more value to doing than to analyzing.

 

From that perspective, a strategy is a lofty, self-evident statement such as “Our strategy is to maximize customer value” or “Our strategy is to become the market leader.” Such “strategies” don’t contribute much to producing results.

 

Possibly, they motivate the troops, although even that is highly debatable.

 

On its surface, this view that strategy is less important than execution is hard to refute. If that’s all strategy is, execution is clearly more important.

 

But any seasoned strategist knows that strategy is not just sloganeering. It is the series of choices you make on where to play and how to win to maximize long-term value. Execution is producing results in the context of those choices.

 

Therefore, you cannot have good execution without having good strategy.

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Vladimir Gostrer's curator insight, August 22, 2013 1:11 PM

Have to have both. Strategy - 50,000 ft. view. Execusion - feet on the ground. Unless you know where you're going you're going to go really really fast and perhaps even very effectively but nowhere. Know where and why you're doing something before you start doing it. 

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9 steps to create an effective integrated marketing plan

9 steps to create an effective integrated marketing plan | Strategic Planning for growth | Scoop.it

Soobest, a transnational e-commerce platform with operational headquarter in China and offices in New York, London and Hong Kong, has put together a step by step plan for an enterprise to implement an effective integrated marketing strategy. Soobest’s nine steps to create the right integrated marketing plan are:

paulgreen's insight:

Simple but very useful information on how to have a comprehensive marketing plan for you business.

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Jordan Anderson- www.havefunandprofit.com's curator insight, August 1, 2013 6:02 PM

How do you create your Marketing Plan? #smlbiz #HFAP


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What The Hell is a... Balanced Scorecard?

What The Hell is a... Balanced Scorecard? | Strategic Planning for growth | Scoop.it

Voted one of the most influential business ideas ever presented in the Harvard Business Review the Balanced Scorecard enjoys global popularity. There are some management tools that seem to have enduring appeal and the Balanced Scorecard, or BSC for short, is one of those. Over the past 20 years it has seen adoption rates soar. At the same time I have to say that as a tool the BSC is still widely misunderstood and misused by managers.

 

A BSC is a strategy execution tool that, at the most basic level, helps companies to:


1. Clarify strategy - articulate and communicate their business priorities and objectives


2. Monitor progress - measure to what extent the priorities and strategic objectives are being delivered


3. Define and manage action plans – ensure activities and initiatives are in place to deliver the priorities and strategic objectives.

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Mission Statements and Vision Statements

Mission Statements and Vision Statements | Strategic Planning for growth | Scoop.it

Vision Statements and Mission Statements are the inspiring words chosen by successful leaders to clearly and concisely convey the direction of the organization. By crafting a clear mission statement and vision statement, you can powerfully communicate your intentions and motivate your team or organization to realize an attractive and inspiring common vision of the future.

paulgreen's insight:

Don't under estimate the power of creating vision and mission statements for your business - they can be very powerful foundations on which to build your business; giving you and other stakeholders clarity about direction and purpose for your business.

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