Business owners can easily get caught up in the daily grind of running their businesses, unaware that they are in a reactive mode, instead of standing back, assessing the situation and making decisions based upon strategic thinking. Below are a few examples of problems that many business owners face due to lack of Strategic Planning:
- Business activities are focused on tactical tasks and dealing with daily fires as opposed to guiding the business to higher levels through strategic thinking
- Process and procedures evolve as circumstances dictate causing stress as the business grows as opposed to development of such process and procedures through forward thinking
- Control of the business becomes more difficult and growth becomes stagnant
- Decisions that appear beneficial in the short term can become problematic in the long term
- Personal stress increases and tasks that the owner dislikes become part of his/her everyday job
- Great ideas that never get implemented
- No sense of what a great idea might cost; financially, Intellectually, and time required
Accidental success is dangerous. Succeeding without a plan is possible; however, ask yourself these two questions:
- How long can I sustain my success under the same conditions?
- Could my business have grown and become even more successful if we would have had a Plan for growth?
If you are ready to take your business to the next level, why haven’t you started working on your Strategic Plan?