Are your sales dropping?? This is often an indication that your business does not have a strategy or it has an ineffective strategy.? Good strategy will keep your revenues growing, even in difficult times.? Strategic planning is one of the most needed disciplines to be undertaken by businesses on the Downs at this time.? Those that have tapped into the mining boom need good strategy to cope with the stresses of growth.? Those that have not are generally struggling with revenue and need some new thinking.? At the start of a new financial year this is the perfect time for you and your senior team to creatively work on your strategic plan.
First let?s look at what strategic planning is not.? It is not a huge document that is prepared once and then is occasionally looked.? A good strategic plan is concise and dynamic.
A strategic plan is not just an improvement on the current business. This is a common approach, but it contains no strategic thinking.? This approach will only achieve incremental improvements on where you are now at best.
Strategic planning is about taking a fresh look at where you want the business to be in three to five year?s time. It is about being honest about where the business is now, and then working out the best way to take it from where it now to where you want it to be.?
A good strategic plan requires stepping back and getting away from the constant? stresses of the business. You need to be in an environment where you can have some new thinking. Our thought processes follow established neurological pathways.? When we are busy or do not reflect we follow those same established pathways.? Strategic thinking requires we get our brains taking different pathways.? This is why it also good to get your senior team involved in the planning process. They are coming at this with much fresher approach.
The new thinking will enable you to leap your business up to the next level. A level that gives you a greater competitive advantage, stronger profit levels and engages the passions of your organisation.?
The work of the strategic plan then involves addressing the key thrusts that will get you from where you are today to your strategic goal.? A good plan faces the weaknesses in your business and addresses them head on.? But even more importantly it builds on the competencies, strengths and values of the business to reach the goal.?
The best results come from engaging an external facilitator as they are not so deeply involved in the business and can look at it more objectively. Also it is? is best? to facilitate the strategic plan? away from the business? premises and in a creative environment.
Rather than just doing budgets for the new financial year, take a fresh strategic look at your business.? Remember those that fail to plan, plan to fail.
Peter Ambrosiussen is the principal of Ambrosiussen Accountants & Advisors www.ambrosiussen.com.au?? and is a certified Gazelles International Coach.
View LinkedIn Profile ? http://www.linkedin.com/pub/peter-ambrosiussen/29/171/a24
Published by Toowoomba Chronicle www.thechronicle.com.au on Saturday 21 July 2012
Source: http://www.ambrosiussen.com.au/start-the-new-financial-year-with-focused-strategy/
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