Not surprisingly I’m a facilitator who would love to help you with making your next strategic offsite a success.
Itâ€™s all in the timing
How often do you work on your strategic plan? The majority of TAB Members who answered our Small Business Pulse Survey indicated that they review and adjust their strategic plan every quarter, whereas the majority of non-TAB Members only adjusted their plan annually.
Checking in more regularly with your strategic plan is the key to keeping your business on track. It can also improve your outlook: TAB Members were 9 percentage points more likely to consider their local economy as improving than non-TAB Members.
That doesnâ€™t mean you need to hold a formal planning session with your entire team every three months. Over half of all business owners also told us they donâ€™t rely on a workshop or retreat for developing their strategic plan.
Donâ€™t leave planning to chance
Business owners who describe their strategic plan as â€œgoodâ€ or â€œexcellentâ€ were much more likely to project an increase in profits over the next year than owners without a plan. But an excellent plan doesnâ€™t do much if it simply sits on a bookshelf and is never looked at again.
Make sure your plan has a chance at success by creating a follow-up process that includes clear assignments, deliverables, and accountability. Finally, be sure the plan is communicated to all employees â€” especially those who didnâ€™t participate in the planning session.
Those who move forward without a plan are indeed planning to fail. The strategic planning event, however it is labeled, is an essential best practice to keep your business moving toward its goals. Itâ€™s worth the time to do it right!