Defining your business strategy When it comes to business forecasting, a clearly planned and documented strategy is key to success. Having ideas about where you want your business to go without putting it down in writing often leaves design businesses missing the mark and going down tangential roads that lead away from the original strategic objectives.
Below are our tips on keeping strategic goals within your sights: 1. Strategic objectives should stretch the limits of your business capabilities, making them exciting to achieve, without being impossible to accomplish. Unrealistic objectives can conversely have a negative impact on morale as well as being an inefficient use of your valuable resources. 2. Set longer term 3–5 year objectives and action these in into realistic milestones of 3 months and 12 months. 3. Your strategic plan should be visible to your key people so that they understand and embrace where you are heading and work with you to deliver clear outcomes. Businesses with clearly defined goals and transparent internal communication are more likely to succeed as your key people are encouraged to think strategically, share ideas, and put in the effort required to make business goals a reality. 4. Know thyself: a strategic plan should closely mirror the ethos of your company. In design, most businesses have aspirations far loftier than just making money. While profit is obviously necessary for company survival, it is
