A strategic plan can be the difference between the success or failure of a business, particularly during the early couple of years when you are still feeling your way around the business and industry.
Not only does a strategic plan document your goals and the strategies to get there, but they also provide an accountability measure. Based on market research, intelligent and rational decision making, this will be your guide throughout turbulent early business years.
However, where most people go wrong is in the initial stages of creating a strategy. They start with wishful thinking, and the owners are enchanted by all the possibilities. With visions of radical success, they launch only for reality to set in.
The thing that sets those who success, apart from those who fail, is the foundations. While excitement about all the possibilities is great, ultimately if those goals are only based on wishful thinking then it is no wonder businesses get despondent about unmet expectations.
Unfortunately, many business owners hold to a very real misconception, that strategic planning is a bit of a magic act. With enough money and wishful thinking, your dream goals are coming true, with clients pouring in the door.
This is where it is important to develop the right foundations with the right research and advice. Focusing on the right objectives is essential, so many business owners spend their entire time working on superficial changes that ultimately do not affect their bottom line. True business leaders commit to their strategic plan, understanding that results are not instant and do not focus on superficial obstacles. They stay committed to the things that matter.
As business consultants based in Melbourne, we have found the difference between our clients who succeed and those who fail, is their commitment. Commitment is a choice, the best business consultants can create a working strategic plan, but if you are not putting your plan first for your business, it is going to be useless. The choices you make today shape your business’s future.
Decide if your business plan deserves your commitment, if it does not, then it might be time for a new plan. If it does match your initial business goals, then reaffirm those goals every day as you choose where to invest your time, energy and budget. All those little choices add up.
So what do you want your legacy to be?
If you are having trouble developing your business plan, determining where to focus or even how to implement, contact us today. We can help you turn your business around and meet realistic, well-researched business goals.