What is a Strategic Business Plan?
The strategic business plan explores key questions about the purpose for being in business. These are questions like: How will we grow? Is the team developed? What is our succession plan? Regularly business owners and their teams must answer these questions and agree on the answers. The answers will help in determine the essential elements of the strategic plan. From a business strategy consulting standpoint, the key, broad subjects to be incorporated in a strategic business plan are:
Vision
Mission Statement
Key Objectives
Milestones
Implementation/ action plan and time-line
This plan, which includes strategies, actions and responsibilities, becomes the foundation of the firm’s strategic business plan. This is not a document to be completed and left in the desk drawer. You must share the plan with your team. It must be developed into 90 day plans for the management and team to implement. The plan is accomplished on step at a time. Call Ralph Berge, Business Coach 440-838-0991 to get moving on your business exit strategy.
