Executive Coaching

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Executive Coaching

It’s hard to accomplish anything without a plan. Whether you’re coaching a football team, cooking Christmas dinner, or running a business, you need a strategic plan.

A strategic plan looks at all the things your small business could do and narrows it down to the things it is actually good at doing.

Developing a strategic plan might seem like an overwhelming process, but if you break it down, it’s easy to tackle. Here’s our four-step approach:

1. Determine where you are. This is harder than is looks. Some people see themselves how they WANT to see themselves, not how they actually appear to others. Many small businesses get snared in this same trap.

For an accurate picture of where your business is, conduct external and internal audits to get a clear understanding of the marketplace, the competitive environment, and your organization’s competencies (your real—not perceived—competencies).

2. Identify what’s important. Focus on where you want to take your organisation over time. This sets the direction of the enterprise over the long term and clearly defines the mission (markets, customers, products, etc.) and vision (conceptualisation of what your organisation’s future should or could be).

From this analysis, you can determine the priority issues—those issues so significant to the overall well-being of the enterprise that they require the full and immediate attention of the entire management team. The strategic plan should focus on these issues.

3. Define what you must achieve. Focus on where you want to take your organisation over time. This sets the direction of the enterprise over the long term and clearly defines the mission (markets, customers, products, etc.) and vision (conceptualisation of what your organisation’s future should or could be).

4. Determine who is accountable. This is how you’re going to get to where you want to go. The strategies, action plans, and budgets are all steps in the process that effectively communicates how you will allocate time, human capital, and money to address the priority issues and achieve the defined objectives.