To remain successful it’s vital that you regularly set time aside to ask the following key strategic questions:
- Where is the business now?
- Where is it going?
- How is it going to get there?
Often businesses are able to work out where they want to go but don’t draw up a roadmap of how to get there. If this happens, a business will lack the direction needed to turn even carefully laid plans into reality.
At the end of any review process, therefore, it’s vital that work plans are prepared to put the new ideas into place and that a timetable is set. Regularly reviewing how the new plan is working and allowing for any teething problems or necessary adjustments is important too. Today’s business environment is exceptionally dynamic and it is likely that you will need regular reviews, updates and revisions to your business plan in order to maintain business success.
In addition, a simple planning cycle can greatly enhance your ability to make changes in your business routine if necessary. Good planning helps you anticipate problems and adapt to change more easily.
You may find at this stage in your business’ development that you need external skills to help you with the changes you have to make. In this case you might consider:
- Employing skilled consultants in areas where you cannot afford to develop in-house skills
- Appointing an experienced non-executive director who can provide a regular, impartial assessment of what you are doing
- Using a management consultant to help you identify how you can strengthen or change your management structure to grow the business