Louisianna Maddy | Business Owner at Unique Clothing Botique | May 25, 2021 | 3 Min Read
As most Small Business Owners will testify, many of our businesses are generally of small scale running on a limited budget and restricted to market niches. They aren’t resistant to economic uncertainty and any unusual circumstances can be catastrophic risking the very survival of our livelihood.
Little did I know that when I first engaged in a local business networking event and learning about strategy-in-business, just how Strategic Planning will be the essence of survival of my business during the pandemic. It is by far the most important aspect which you have to keep a check on if you run a business, regardless of type or size. Strategic planning has even more importance in a small-scale business like mine, due to the fact that strategy is all about planning for uncertainty. In basic terms, strategic planning is to understand the current status of your business and set a clear path for sustainability and growth, including where you want to take it i.e. your Vision. It forces you and your employees to be aware of the goals and objectives that will help your small business survive and to grow.
I run a small business – a little unique clothing botique, and the pandemic was something I thought would surely destroy my hard work and that I will have to start over or shut it down permanently. However, it was fortunately saved, and the main reason was my strategic planning for business survival and growth I used to guide my venture.
Through my well crafted and executed strategy, I prioritized my business efforts, budget, and the intended direction in pursuit of survival and growth. We allocated resources and aligned employees to clear goals which meant we were efficient and could run lean. All of our company goals are backed up by data and solid reasons, so I was confident in staying the course. The efficiency allowed us to innovate and create new products and quickly get them out but mainly through planning, we were able to act nimbly and precisely minimising wastage. The single-focused vision was necessary to create Harmony throughout my small business whereby the clarity of roles and responsibilities and vividness of our vision, meant employees felt empowered and ultimately gave more with less. All my employees understood the Vision of the business and acted accordingly. This avoided confusion and conflicts of opinion between management and amongst employees.
Fuindamental to success is to be sure to track progress in accordance with the set goals. It is that when each employee or department has a single vision and is unified towards the same goals and understands them, all efforts are pulling in the same direction, impacting the business overall in a positive way. Progress should be checked and tracked regularly.
Strategic planning courses and software.
You can learn strategic planning by acquiring various courses available on the internet. Even check out your local chamber of commerce for online strategic planning courses and some even provide certification if you successfully complete the course.
We all know just how difficult it can be to keep track of your business because there are multiple activities to keep track of. Planning itself can be daunting and feel like a waste of time. To make it even simpler and reliable, there are multiple business strategic planning software tools available. These are super useful business intelligence tools and are efficient in use.
These software products will help you to build an efficient and realistic business survival and growth strategy. It makes a plan for your business according to its resources, and it also tracks the progress your company is making towards business goals that was previously set.
Strategic Planning software provides solutions to performance management to ensure that every employee is pulling in the same direction and is pursuing the business’ goals. Other features include dashboards to view actual data in an organized manner in the form of charts and graphs. These planning software tools are used by the company’s management, staff and Owner-Managers to monitor overall progress. This software is a must in every small business; however in order to function as an effective Strategic Planning Tool, it must serve the following purposes:
- Allow the management team to construct a plan according to their set vision and business goals for the company.
- Has the ability to create goals that will result in the real progress of the business.
- Generate an overall report on how the company is progressing toward its goals.
- Helps the management team strategize a hiring plan to best achieve success.
- Focus on a long-term business objectives and projects the activities and tasks on various levels.
Stratgic Planning Software helped save my business, by letting me plan out my strategy. Strategic planning helped me prepare for the future and bring my business to sustainability and growth.