Following on from our "What stage are you at' blog, we've been looking a bit more in depth at Strategic planning and how this can help businesses.
We know that having a Strategic plan is important for a lot of businesses and can help lead to further plans. But how do you go about putting together your strategic plans?
We've been speaking with Dom Brook from Brook Corporate Developments and got the experts to share their advice and Knowledge on Strategic Plans.
Dom and his team help support businesses in need by working with their senior leadership team and board members to help establish a strategic growth or turnaround plan. They make strategic planning simple and don’t over complicate things. They do this by using their own bespoke visual planning tool, the Brook Strategic Compass. This is a one page, visual strategy that allows business to see their start point, set milestones/targets with time frames for delivery. They break this down into business areas such as turnover, profit/margin, resource, geographical areas for growth, marketing channels etc)
How Brook Corporate Developments support with Strategic Planning:
Understanding their Vision – All businesses have a starting point. Businesses need to understand their current business position, what their stakeholder requirements are, what resource and capabilities are within the business, and the financial needs to achieve growth.
Have a Strategic Development Plan – Businesses then need to plan how they will achieve their vision, To create a plan for business growth, they need to establish their vectors for success and set measurable and realistic growth targets, breaking down the tasks to make it happen.
Plan the Route to Success Plan –Have an implement plan to ensure you succeed on your journey. Break down the vectors to clean and realistic tasks and ensure that all tasks are assigned to owners. Within this plan, set task owners measurable time frames to complete tasks and establish a method to keep the journey moving.
Have Individual Action Plans – This then ensures individual employees know exactly what they need to do and by when, as this ensures team responsibility.
Guiding Your Journey – Without guidance, the whole process falls down. Ensure facilitation to make sure the team keeps on the establish growth track and help to overcome any blocking factors that arise along the way.
If you're in need of a strategic plan and need help creating one speak to Dom or visit the Brook Corporate Developments website to find out more information.