What Is Strategic Planning & What Can It Do For You?
The existence of the old adage “failing to plan is planning to fail” bears witness to the plethora of research demonstrating that coherent planning separates the wheat from the chaff.
Starting this planning process with a vision recognises something very human in us. We are tribal creatures and, as such, we organise ourselves around culture, mores, values, ethics etc. These have significant effects on the motivation and behaviour of human beings.
There is an increasing quantity of evidence to suggest that human beings are less sustainably motivated by financial gain than they are by more inherent motivational factors such as:
- Desire for autonomy - people need to feel that they are in control of their own destiny
- mastery people like to know they are getting better at doing something
- purpose - people like to know that their efforts have purpose.
- social cohesion - human beings are social animals and so need to feel a part of a group
In order that all elements of a strategic plan sit together coherently and work together to achieve the organisation's goals, they must all be generated with vision, mission, values and goals firmly in mind. I call this the 'Strategic Framework' and this is especially important if the goals of the organisation transcend the purely financial.
The formalisation of these elements is important for two reasons:
- To continually remind stakeholders of the reason they are doing what they are doing, what is important to them and what they have committed to in order to achieve their vision.
- To communicate this vision to other stakeholders such as employees, investors, lenders and contractors (e.g. marketing professionals) etc. so that all of their activities are driven by the same mantra.
Clarity is the foundation for success.
Strategic Planning Process
Strategic Framework
Refinity employs a framework for creating formalised, clear and engaging mission statements. Working together, I will help you to formulate a vision and mission statement that drives your business forward.
Sales & Marketing Strategy
By setting up a strategic plan for this business function, you can outline the strategies that you can use to reach your ideal prospective customers. You can clarify in your mind how you will achieve your sales goals. Without a clear path to achievement, it's difficult for us to know what to do next or believe that what we desire is possible.
Accounting & Finance Strategy
This can be pivotal to your future because it identifies where you have been spending your money and makes sure you can afford the goals you want to achieve. It makes sure that you have the financial information to hand about the past and the future that will enable your business to achieve its goals.
Legal Strategy
Helping to create a basis plan and signposting you to a specialist like a solicitor, where necessary, to help to put this plan into action. Legal planning is necessary not only to avoid litigation and inadvertently break laws but also to ensure that you do business on the terms that you desire.
People Development Strategy
Invaluable for helping to identify the strengths and weaknesses in your team, key for setting goals for the future which will ultimately have a positive all around effect on your business. People can make or break your business.
Management Information Strategy
Developing a practical and easy to use Management Information System (MIS) supports you in making the decisions that take you closer towards your goals.
Operational Strategy
Getting in depth on how your business’s resources are going to be used to make your business goals a reality and how this is going to support the business’s mission as a whole. What is the best way to produce and deliver your product and service that contributes greatest value to all stakeholders?
Information & Communications Technology (ICT) Strategy
Ensuring that technology is used seamlessly throughout the organisation and is effectively contributing towards achieving business goals in a way that gives best value.
Procurement Strategy
Ensuring that products purchased by the business, either as part of the production process or in contributing to the production and delivery of your service or product, are of appropriate quality, sustainable supply and appropriate price.
Business Continuity Strategy
Gives some guidance to how the business can continue to function if something unexpected occurs - gives both temporary and long-term solutions to keep the business stable.
All the above strategic planning processes feed into a suite of tactical plans that practically help deliver the businesses mission as profitably and sustainably as possible.
See What Our Clients Say
"Sean has been coaching me in personal and business development for the past 6 months. Sean is the most kind and caring gentleman you will meet, will make you feel completely at ease and always puts you in his first thoughts. What i have taken away from our sessions have been absolutely life changing for me and are things i will now use for he rest of my career, I have grown as a person and as a young business woman. I cant thank you enough Sean 100% highly recommend."
"What can I say about Sean @ Refinity, I’ve been in business for 13 years. Always felt I was just going with the flow. When the first government lockdown came in March. I knew things or I had to change. My Business wasn’t profitable and I couldn’t bury my head in the sand much longer. Sean is a client of mine, so I reached out for some advice.
Sean has worked with me to help me work on my self-limiting & negative behaviours. I am more confident now in everything I do, He’s made me see that I have no boundaries, this has inspired me to see their no Limit to my full potential.
In our weekly meetings, We discussed what’s happened During the week, he’s is a great soundboard of advice.
I learn so much about myself in these Little lessons by reviewing and analysing my own action and performance in a way I’ve never thought of.
Sean even got me to celebrate, Little achievements.
Sean is also helping me to create a structure to my business, Creating a strong vision & mission. We’ve also set out clear values and goals."
"I have been working with Refinity since the birth of my Sports Therapy business. Having Sean as my coach has enabled me to learn and grow at the same rate as my business - starting as a sole-trader to incorporation, and becoming an employer. From the daily responsibilities of running a business to some more uncommon tasks, his coaching has helped me to understand exactly what needs doing, why it needs doing, and how it needs doing for maximum effectiveness. The greatest challenge for me is productivity. And, having Sean there when I need him to boost my productivity most-likely saves me a lot of money and heartache."