Elements of the Strategic Planning Process

Creating a strategic plan involves

1. Considering the purpose for your business

2. Analysis of your business opportunity and the competitive landscape (SWOT analysis)

3. Researching unknown variables identified in SWOT, minimizing weaknesses, and capitalizing on strengths

4. Determining the outcomes desired for the business in the next twelve to eighteen months

5. Creating SMART objectives, strategies, and tactics

6. Organizing the objectives, strategies, and tactics into a calendar with timeline, budget, party responsible and tracking plan in place

7. Consistent monitoring of progress and documentation of results

8. Refining the strategic plan as needed

Without a strategic plan, it’s easy to end up ...

Get The Creative Entrepreneur now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.