What Is Strategic Business Planning?

0 defines a strategic business plan as follows:

  • Outlines an organisation’s overall direction, philosophy, and purpose.
  • Examines its status in terms of its strengths, weakness, opportunities and threats.
  • Sets long-term objectives.

  1. Formulates short-term tactics to reach them.

When planning for small business, expert Peter Smith has an analogy which every business leader can understand. He uses the image of a table. Without four legs the table simply wouldn’t stand. Without a plan based on past, present, goals and routes a business could just as easily fall.

Why should you listen and work with proven experts like Peter Smith?

No one sets out in business to flounder but unless attention is paid to the lessons learned in the past, where the company is at that moment, where owners would like it to go and how to get there, floundering is more than probable. To improve the position of your business, gain market share, grow by 20%, for example, you need vision and practical advice.

Peter Smith has been helping SME’s since 2005 and works with Thames Valley Business Advisors. Whilst offering a 100% money back guarantee, he constructs strategic business development plans that truly work. His client testimonials prove that his promises are not empty, nor is his knowledge bank, focus or commitment. His skills help SME’s to achieve solid results.

  • The past is an excellent teacher which is why strategic business planning starts by reflecting on where the business has been. Not all memories will be positive but they are all valuable to the process.
  • Next, the current situation is analysed. This can be difficult for business owners and CEO’s because this step means objectively looking at the operation. There is no room for emotion here. If something isn’t working well, it needs to be addressed. Strengths and weaknesses are equally vital.
  • From the present, the focus shifts to what the business would like to achieve in the future. Planning for small business necessitates a plan, fluid or more rigid. No planning will guarantee confusion and a lack of achievement. Clearly defined goals in a strategic business development plan ensure that from new starter to management level everyone will appreciate what they are there to do.
  • They also need to be aware of how the goal or goals will be achieved, as do you. Magic, wishing and crossed fingers don’t work in business. If they did professional advisors like Peter Smith wouldn’t be required and neither would strategic business planning. There isn’t an easy and effortless solution so prepare for some work.

Another analogy: You want to go to the Maldives on holiday. You don’t plan anything or factor in costs. What sort of holiday will you have? No flights, accommodation or transfers and a miserable experience, probably grounded in the UK. It’s a waste of time.

Strategic business planning isn’t. It shouldn’t be viewed as something to do if you get time, it is essential. Expert advice is integral to success so please proactively seek it.

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