You’re frustrated with the inertia and lack of growth in your business. You know in your heart that strategic planning will transform your organization, but you are hesitant to go down this path because you don’t know if you are ready to take this on. How do you get ready for a strategic planning process?
There are three things you can start digging into, prior to committing to a strategic planning effort, that will give you the confidence to proceed. Investing in the effort to do these things will help your business even if you decide not to proceed.
- Do a detailed, extensive Cash Flow Analysis – How is cash flowing into the company? Where and how is it flowing out of the company? How much of it is left to invest in the growth of your company? This is important because executing your strategy will cost you money, and knowing how much cash you have will impact what you can do. (I hate to say this, but your accounting staff, outside accountant, and banker probably won’t be very much help to you on this. Call me if you need some help.)
- Do a Talent Review – Determine who the A, B, and C players are on your team. Good strategy is best created by A players, and the same thing can be said for implementation of the strategy. You need to know how your team stacks up and whom to include in the process. (Again, I hate to say this, but human resource and personnel directors struggle with this. Call me if you need some help.)
- Do a Key Processes Review – Take a good, hard look at the processes that you use that are key to your success. What are the ones that have to go well in order to deliver value to your customers? Look at sales processes, service processes, billing processes, fulfillment processes, and production processes. Are names assigned to them? Are they well defined, and are metrics set for them? This will tell you much about where you will be starting from when you start building a strategic plan. I regularly find that people are unaware of who is responsible for each process. Many don’t know the steps in each process and don’t know the metrics for success. Call me; I can help.
When you do a thorough job with these three things, you’ll understand that embarking on a strategic planning process is something to invest in as soon as possible. Again, call me.
Here’s a low risk offer for you to consider if you are looking for help completing the items listed above. Let’s call it a Business Tune-Up. For a set fee, I’ll work with you and a few of your lieutenants. Together, we’ll complete the Cash Flow Analysis, the Talent Review, and the Key Processes Review. When completed, you’ll have a concrete set of actions to improve your business whether you proceed with a strategic plan or not.
- If you are happy with what we have accomplished and feel ready to proceed with a strategic plan and execution coaching, we’ll do it.
- If you are happy with what we have accomplished, but we determine this is enough for now we won’t proceed until you give me the word.
- If you are unhappy with what we have accomplished, I’ll refund the portion of the fee you think would be a fair refund and move on.
The Business Tune-Up is an easy and low risk way to get ready to really transform your business with a strategic planning process. Call me about it.
In the meantime, take a look at my book Rock & Sand: A Practical Insight to Business Growth and other strategy tools created for you. They will provide a good idea about what we’ll need to accomplish when we do a strategic plan.