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For external parties, such as investors, partners, and customers, your mission can inspire them to take the actions you want.
A strategic plan is a roadmap to grow your business.
To help you succeed, use this proven strategic plan template, and the information below details the 13 key sections you must include in your strategic plan.
Fortunately, there are strategic planning methodologies specifically suited for small businesses.
Effective strategic planning for small businesses begins with revisiting the foundational aspects of the business which include company mission, vision, and core values.
Detailed action items should be assigned to team members with due dates attached to those team member deliverables.
The upside to strategic planning is that those companies who choose to engage in a consistent and persistent strategic planning exercise on an annual basis at a minimum will begin to distance themselves from their competitors and gain more market share.
Section 2: Elevator Pitch An elevator pitch is a brief description of your business.
Your elevator pitch is included in your strategic plan since it’s key to your business’ success, and often times should be updated annually.
Section 6: Key Performance Indicators (KPIs) Great businesses understand their metrics and KPIs.
By tracking your KPIs, you know exactly how your business is performing and can adjust as needed.