8 questions small business owners should ask when drafting a strategic plan.

I continue to be surprised by business owners who don’t have clarity around where they want to take their business into the future.

When you drive out of your driveway, you know where you're going and you are likely to arrive there as efficiently and effectively as possible….shouldn’t this principle apply in business?

When working with small business owners with their growing pains, I ask them to ‘paint a picture’ of what they want their business to ideally look like in three years' time.

And, without constraints, as their mindset can get in the way.

They always think of reasons why something cannot be achieved.

How do you start mapping out a plan to grow your small business?

Answer these questions.

What is / are your:

1. Revenue and profit goals?

2. Target markets (not being everything to everybody)?

3. Number of team members, and their roles?

4. Organisational structure in three years?

5. Geographical region(s) where you want to be operating?

6. Key levers and assumptions in your business model?

7. Value proposition(s) for the customer?

8. Any other aspect for your ideal business?

You then ‘reverse plan’ and start with a focus on some priorities and goals for the next 12 months. These will keep you moving in the right direction toward your three year ‘painted picture’.

A ‘less is more’ approach is critical for success, otherwise you can get overwhelmed in the whirlwind of running your business.

Don't complicate things!

Every day, every week and every month - it’s all about making progress with a focus on the three year picture.

This picture may change as you need to be agile and adapt, but it is a great starting point.

So, get started - document your three year picture and get focused✅✅

It sounds like common sense but I am continually amazed how this is not common practice.

Can we help you find and implement the best strategic planning tool to grow a small business?

With over 60 years combined experience growing our own business, and helping 1,000+ more, we have tested many strategic planning tools. We outline which is the number one strategic planning tool a small business should use, and how to implement, in our Business Growth Formula course.