When looking to achieve long-term success for your business or organization, having a strategic plan is crucial. Yet here’s the kicker - writing/developing a strategic plan can be a complex process requiring careful consideration of multiple factors while balancing competing priorities, goals, time, and resources.
Phew - that can seem overwhelming! Don’t let strategic planning scare you - Hera Associates is here to offer some tips on how to write a strategic plan that is effective, actionable and completely do-able. You can do this!
Define the purpose and scope of the plan: Your first step is to identify the specific goals you hope to achieve, the timeline for achieving those goals (consider breaking them down into short-term, mid-term, and long-term), and the resources required. Think about it this way - you’ve got a problem you want to solve. What is that problem and what does life look like when that problem is solved? That’s your purpose!
Conduct a SWOT analysis: A SWOT analysis will help you identify your organization's strengths, weaknesses, opportunities, and threats. Gaining this comprehensive understanding of your organization's internal and external factors is a powerful tool for developing a successful plan within your market. This helps you get really clear on mission-centric work and your unique value proposition.
Identify strategic objectives: Now that you have your purpose/goal and SWOT analysis, it’s time to build your objectives (it’s common to focus on 3-5 years). Remember - your purpose/goal is the achievable long-term outcome (the problem you will solve) and your objectives define measurable actions to achieve that overall goal. For this reason, it’s a great practice to make your objectives SMART (specific, measurable, achievable, relevant, and time-bound).
Define your strategies: Think about and determine the specific strategies that will help you achieve your objectives. Your strategies should be specific and actionable and should be defined for all areas of your business: marketing/communications, operations, and human resources, etc.
Assign responsibilities: Accountability is so important for moving your plan forward. To do this well, it’s important for you to assign responsibilities to specific individuals or teams. This will not only build individual accountability, but it will also foster a sense of shared ownership and collective leadership. That’s a win-win you want!
Create an action plan (AKA: an execution or operation plan): Outline the specific steps you will take to implement your plan. Your defined steps (action plan) should include timelines, milestones, responsible parties, and key performance indicators so you can effectively track and evaluate your progress and success of your strategic plan.
As a bonus, consider these process tips to ensure your strategic planning endeavor is pain-free:
Involve and gather input from a variety of stakeholders. An open and consultative process allows everyone to align around a common strategy and gives them voice and space to shape the future direction of the organization.
Safeguard enough time to develop your strategic plan. If you want to encourage innovation, outside the box thinking and collaborative solutions, then avoid being lured by a fast-paced business environment, where short-term pressures may take precedence over longer-term planning.
Acknowledge and accept that developing a strategic plan may require making trade-offs between different priorities and goals. For example, investing more resources in one area may mean sacrificing resources in another area.
Consider setting up regular check-ins and reviews to assess your progress towards the goals. A strategic plan is only effective if it is monitored, evaluated, and even adjusted on an ongoing basis.
If you are ready to embark on this exciting journey - we’re here to help! Hera Associates specializes in helping organizations develop and implement effective strategic plans. With our deep expertise in strategic planning, we have helped clients across a range of industries achieve their goals and drive growth. Our approach is tailored to each client's unique needs, and our team of experienced consultants has a proven track record of success.
If you're looking for a partner to help your organization develop a winning strategic plan, look no further than Hera Associates.
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