Expert’s Corner: Wink Faulkner

Strategic Planning: What It Is and Why It’s Important!

“A Strategic Plan is 1% Vision and 99% Alignment”

On March 9th, I lead a workshop at the Hannah Grimes Center that focused on Strategic Planning. We had a great turnout of attendees, ranging from start-ups to fairly well established businesses offering products and services including consulting, leadership coaching and data systems development. My next workshop will be focusing on Product Development on April 13th at the Hannah Grimes Center. I would love to see you there!

Weren’t able to attend the workshop? Here’s what we covered:

During the workshop, we discussed the One Page Strategic Plan developed by Verne Harnish. This consolidated strategic plan replaces the voluminous strategic plans of the past that were typically kept out of sight and out of mind. This one page method of establishing company goals is one of the key components that I focus on with all of my AdviCoach clients.

What Is A Strategic Plan?

Running a successful business and gaining the results you desire includes hiring the right people, doing the right things, and doing things right. Strategic planning helps you do the right things in your business.

Strategic planning is very important to each and every company. Whether you’re a start-up, or a multi-million dollar business, a strategic plan is a fundamental building block that every business should have in place.

Why Have A Strategic Plan?

If you don’t have an established strategic plan and you’re trying to lead an organization forward, you will most likely see inefficiency, frustration, and low morale in your employees and managers. Having one central voice and established goals will give your employees a road-map to better understand the company. This will also help your employees take ownership and work independently towards common goals.

The One Page Strategic Plan asks you to define components such as:
Company Vision
Mission
Brand Promise
Goals
Purpose

In the end, every business should have a plan. As they say, “Failing to plan, is planning to fail”. The One Page Strategic Plan is a stepping stone to get you closer towards your business goals. Once you create the plan, how you choose to execute it is up to you. Having a plan is one thing, but making it work is another.

All of the workshop attendees were provided a copy of the presentation and a blank One Page Strategic Plan for them to begin their planning. If you would like a copy of the plan, or would like set up a complimentary meeting to talk about your strategic planning, please feel free to contact me at wfaulkner@advicoach.com.

 

Wink Faulkner
AdviCoach® of New Hampshire

Contact Me Today for your
Complimentary Coaching Session

Call: 603-499-5458
or Email: wfaulkner@advicoach.com

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