Strategic Planning
With the level of uncertainty we see today, more people are asking, how can you develop a strategy in a world that keeps changing so fast? They are afraid that a set of rigid principles will hinder their ability to react quickly. I argue that it is precisely at such times that you need a strategy.
With the level of uncertainty we see today, more people are asking, how can you develop a strategy in a world that keeps changing so fast? They are afraid that a set of rigid principles will hinder their ability to react quickly. I argue that it is precisely at such times that you need a strategy.
In the business world, there is a familiar saying that five minutes of planning saves an hour in execution. If your organization is looking to scale, gain more market share, or increase revenue, it’s critical that your strategy to accomplish those goals is well-developed, practical, yet flexible. Having a robust strategic plan in place will not only clearly identify what your business’ goals are, but it will empower your organization to reach those goals more easily and with fewer man-hours.
What is strategic planning?
Strategic planning involves a company identifying its direction to achieving its short- and medium-term goals. From the strategic planning effort, we often help businesses prepare a written strategic business plan that identifies a company’s goals for the next 3-5 years and outlines the mechanisms to achieve those goals.
When should I update my company’s strategic business plan?
For most companies, we recommend that they update their strategic business plan every 2-3 years, depending on how quickly their business is growing and evolving. We also strongly recommend that companies review their strategic business plans every 6 months to ensure they are on track and, if not, to give them the ability to make a course correction before any major issues surface.
It’s important to update your strategic business plan at least every 3 years so that it includes, reflects, and accounts for any new technology or changing industry trends. At the same time, your strategic business plan needs to be flexible enough to remain in place for a sizeable amount of time since it is going to be the framework to help your company achieve its business goals.
If your current strategic business plan no longer aligns with your company’s current mission, vision, or goals, then it’s likely a good time to update it. And if your company doesn’t have a strategic business plan in place, it’s never too late to get started.
What is the CrossGen Solutions process?
Clearly defining business objectives and assessing the internal and external market environments are necessary to formulate a realistic strategic business plan. Our team is familiar with a variety of strategic planning approaches, and we will determine which model is best for your company. When deciding which approach to use, we discuss the purpose of the strategic business plan with leadership, review the corporate culture, and assess any previous strategic business plans.
After creating the strategic business plan, we often help break down the plan into actionable components, such as programs and projects, to execute the plan successfully. We have team members able to consult with leaders during execution or to lead programs and projects, should that be your preference.
Can you give me more specifics about your process?
In essence, the CrossGen Solutions process for strategic planning boils down to three things: analysis, strategy, and performance. With analysis, we look at the external environment (e.g., competitors, market trends) and the internal organization. With strategy, we formulate a strategy to help your organization reach its goals, and we also create a plan for implementation. With performance, we identify and review indicators and metrics for determining success.
What the fulfillment of these deliverables looks like will vary with each client based upon their needs. CrossGen Solutions is passionate about the long-term strategic success of our clients. As such, we are highly adaptable to the needs of our clients. For organizations looking for a low-involvement approach, CrossGen Solutions is very experienced with single-day planning and brainstorming sessions. If the organization is looking for a more involved process, our team is able to put trusted consultants on-site to meet your needs on a daily basis all the way through the execution of the strategic plan.