E-Myth recently posted some excellent tips for making the most of your strategic plan.

“For a small business, a strategic plan is essentially a step by step guide to map out how it will reach goals and objectives. It starts with a vision of what the business will be and how it will function in the near future, typically 3 to 5 years out. The plan also serves as a systematic management tool for implementing the strategies. The goal is to integrate every aspect of the business into a systemic approach for achieving the vision of the business.

Although individual strategic plans may differ in some of the details, here are 10 basic elements that should be part of every plan:

• Define your mission, your vision and your values
• Conduct an analysis and resource assessment
• Establish your goals and objectives
• Determine your strategies for accomplishing your objectives
• Conduct your action planning
• Create your organization and staffing plan
• Develop an operating budget
• Create strategic tools to measure and quantify progress
• Identify the support needed to accomplish your mission
• Communicate your strategic plan to the entire organization

One of the keys to successful strategic planning is to involve everyone in the business, to some degree, in the planning process. Employees are vital to the strength and success of any business enterprise, and the business owner alone cannot effectively run the business – nor carry out the strategic plan.”

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