Archive for category Business Plan

What is a Strategic Plan?

Once you have developed your Strategy, you need to figure out how to actually do it. This is where a Strategic Plan comes into play.

My definition of Strategic Plan: HOW you will get items in place to drive your strategy and WHEN you will do it.

How are you going to do it?

  • Strategies – Per objective and goal, you must give an outline of what will be done with more specific information behind it. Example: Sales and Marketing will align “subject matter experts” to help drive more technical promotions and sales.
  • Tactics – Give a more granular depiction of each strategy outlined. This is where you outline the specifics in numbers or percents. Example: There will be one expert per product team assigned as a “subject matter expert” with 25% of their focus tied to this initiative.

When are you going to do it?

  • Timelines – For every strategy you outline, put a milestone or completion date. Example: The “subject matter experts” will be identified by leadership at end of Q1 and fully trained by end of Q2.

Overall, a Strategic Plan should tie together WHAT you are going to do, WHY you are going to do it, HOW you are going to do it, and WHEN it will be done. Keep your information concise and if possible, down to an Executive Review which is a single page (front and back).

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