Ask yourself, is your strategic plan worth the paper on which it’s written? Can you put a figure on the value of your plan and its impact on the clients or the community you serve? You would be surprised how a well-thought-out and effective Plan could triple your revenues and increase your credibility. This is the kind of strategic plan that we employ to support funding proposals from clients. We’re not seeing enough of them.
What are these outstanding strategic plans have in common?
What makes them effective?
There are five ways to maximize the value of your Plan, build your authority and increase your revenue:
1 Plan for three to five years
The goal of a strategic plan is to achieve outcomes in a three to five year period, not twelve months. Anything less than that time frame is operational. To grow or become sustainable requires ingredients such as accessibility to resources for human Research and development, governance, finances, and infrastructure, in addition to the ability to measure your progress within realistic timeframes. If you don’t have clearly defined strategic goals, how can create effective marketing, human resource, as well as financial strategies? What are the ways that people can help to shape the direction of the company when it’s not clearly defined?
2. Find outside help right from the start
If you’re planning to develop your next strategic plan, think about hiring an external facilitator from the outset who can assist in the process of planning, data gathering, facilitation, and creating your final Plan. They provide objective insight to the process. Their advantages include:
Save time and resources internally by outsourcing the leg work
Eliminating the risk of undue influence on the form of the Plan that could occur if an internal individual facilitates and drives the plan’s content. Plan
It enables all parties to participate on an equal basis in consultation and discussion when shaping the plan.
3 Incorporate a well-researched situation analysis
Certain organizations rely on their in-depth knowledge and perceptions to guess the state of the external world, and utilize this limited information to evaluate the present situation and future trends. We live in a fast-changing world, which is why it’s only natural to look at demographic and economic data, competitors, stakeholders and the government’s policies to remain ahead of the game. This is the foundation of innovation. To understand how a good situation analysis can lead to an enviable 3-5-year outlook look over the local government council’s plans. Otherwise, you might as well pay Gypsy Rose Lee to look into the crystal ball she keeps.
4. Goals and strategies are not your programs, products, and services.
If you’re focused on the business, step back and focus on your vision and mission. If you’re planning to produce results, the programs, products, and services are just one part in the process. Consider ‘how, when, why who, where, and when starting with what needs to be done in order to get us from point A to B within x time to help us to achieve the goal of y (y = destination goal is vision). When it comes to products, programs, and services, utilize the strategic planning process to think outside of the box and develop some innovative solutions.
5 Measure your results
This is the life essence of the Strategic Plan which separates the winners from the rest. This is the aspect that most strategies overlook, maybe because it is too hard to think about or as a sign it is a sign that the Board/Committee of Management does not know its role in determining and directing the direction of the business. Some million-dollar companies do not measure their performance beyond the balance sheet.
If google want to position your organization with credibility how do you accomplish without proof? What can you do to determine how well the organization is doing?
Utilizing clients small and large The people who have managed to get significant amounts of money and prove their worth have the following in place:
The Board is a key player in driving the organization
It is subjected to a rigorous plan of action that helps to find opportunities and gaps which they exploit.
They evaluate the improvement. The benchmarks, employ both quantitative and qualitative data, and are measured efficiency and efficiency. They analyze every aspect of their work not just to ensure continuous improvement but also to provide evidence of the changes they make. In socially-oriented businesses there is the possibility to gather testimonials and stories to bring a personal touch to the information.
If you were going to fund any organization, which would you prefer? One that is on the pulse, has set its goals and works toward achieving them efficiently and effectively or one that, in the event that all chips fall down, can’t demonstrate the difference it can make for those they serve? The clients we work with who assess their overall performance and incorporate this in their strategic plan are the ones we find are the most successful at attracting large grants. A strategically planned and implemented process can increase by more than doubling your revenue and improve your credibility.