PERSPECTIVES Strategic Planning: A Guide to Keeping Your 2022 New Year’s Business Resolutions It’s February, so if you don’t have a strategic plan yet, that’s okay – it’s not too late to start on one. Strategic planning is a wonderful tool for organizations to use in bringing to life their dreams & aspirations. Implementing the elements below will help you to build an easy-to-execute strategic plan. 1.) Set aside time to invest in strategic planning. If the time set aside for strategic planning is not respected, it is easy to get distracted by the variety of day-to-day tasks that face all organizations. At Building Beloved Communities, we met at an offsite location to limit distractions and increase our focus on the strategic planning process. There are local coffee shops like Sweet Donkey Coffee or Chris’ Custard who rent out rooms for the day. We chose to go with Hotel Roanoke as they offered everything we needed at a reasonable price. Be creative in finding a space that works for you!
SMALL BUSINESS TOOL KIT By Shannon Dominguez Executive Summary: There is no denying the energy that comes with a new year. For many, this increased energy turns into dynamic New Year’s resolutions. In the business world, this can manifest as a strategic plan.
2.) Know the objective of the strategic plan. A strategic plan includes S.M.A.R.T. goals (specific, measurable, achievable, relevant, and time bound), realistic actions, and specified time to work on the plan itself. Some things to review every year: • Your mission, vision, and values. Do they still serve you, your organization, and your clients? • Ask yourself if you still want to be in business. Are you still enjoying your work or are you looking at retirement and succession planning? • Define S.M.A.R.T. goals around every aspect of your business (revenue, employees, net income, company culture) • Create accountability fail safes. Check in on a monthly or quarterly basis with other people who are invested in your success. Think of people inside & outside of your organization who motivate you. • Establish KPI’s (key performance indicators). Use your S.M.A.R.T. goals as a roadmap and KPI’s as stops for food & gas along the way. 3.) Involve your team in the process. Co-creation encourages buy-in and increases clarity, everyone knows the roles they play in the strategic plan. Accountability is not a small detail. It is a key element that can often be forgotten. The most successful organizations are accountable organizations - accountable to their employees, their clients, and to their community. 4.) Break down big goals into smaller actions steps. Big goals should be broken down into quarterly, weekly, and daily goals and reviewed on a quarterly basis.
Shannon Dominguez is Director of Operations for Building Beloved Communities LLC
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Strategic planning isn’t scary, and it needs to be done. We can help you get started. Visit www.BuildingBelovedCommunities.com to download a free “Strategic Planning Template.”
t FEBRUARY 2022 / vbFRONT.com
