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Strategic Planning for the New Year

Strategic planning is an essential part of every business. It is the process of documenting and establishing the direction you want to take your organization. One thing separates good leaders from bad ones, and that is following through with your strategic plans. As we look forward to a new year, make sure you know how to set a strategic plan and put it into motion in everything you do as you start 2021.

Collaborate with Others

Working on your strategic plan with your team is the best way to have a successful strategic plan. If your employees feel involved in the decision-making process, they will be more supportive when changes happen. You hired everyone on your staff for a reason, and they are capable of giving you feedback on how things went in previous years. The more inclusive and collaborative your process is, the more support you will have with people outside the business as well.

Know What Your Strategy Is

Once you have successfully collaborated with your team on the strategy, make sure you know what your plan means. Your strategy is the direction you want to take the business in over the year, so think about how you want to market yourself, what you want to invest in, where you want to focus your attention, etc. You should even factor in the negative things that could happen in the year. Unfortunately, you should plan for people to leave, pandemics to set in, and just bad days at the job. If you reach a crisis like most of 2020 was, you’ll have to pivot your business. However, the more realistic the strategy is, the more likely it will be implemented and followed correctly.

Know Your Most Valuable Team Members

When starting your new year as a business, many of your employees will have new goals and aspirations they are trying to achieve. Make sure you know what those are, especially those you want to give more responsibility to. Once you recognize who those valuable members are, let them know of the strategic plan and what priorities they may have to implement it. You might have to rely on those you trust when you need to delegate tasks and mentor them into leadership positions throughout the business.

Planning for the year ahead can be a daunting task, and implementing that plan can be even more challenging. However, by working together, knowing the strategy through and through, and utilizing your most valuable resources, you can be sure to win the year as a CEO. If you need further advice on your strategic plan, contact us today for a second look and real advice from established CEO’s.

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