How to Write and Implement a Strategic Plan

pNow that you have developed your Marketing Plan, you can put it into action through the a href=http://www.businessconsultingabc.com/Strategic_Plan_For_Business_Success.html target=_blankStrategic Plan/a and Sales Plan.nbsp; This overview of the Strategic and Sales Planning Process is divided up into Eleven Sections, which are presented in a particular, building-block order./p
pstrongPotential Problems and Company Objectives:/strongnbsp; First spot and rank your Potential Problems in your Company Operations:nbsp; Cash Flow, Market Changes, Competition, Costs, Distribution, Productivity, Employee Turnover, Regulation, Market Acceptance, Pricing, Quality, Capital, Service, Control Systems and Facilities are some of the areas you should examine in identifying potential Problems.nbsp; With your Problems identified and ranked in importance and severity, you can develop Company Objectives you aim to obtain.nbsp; These Objectives should strive to minimize and manage the identified Potential Problems, while emphasizing your Companyrsquo;s Strengths./p
pstrongRisk Analysis:/strongnbsp; Building on your Potential Problems identified in Section One, this Analysis produces Expected Risks.nbsp; Look at Litigation Threats, Liabilities, Regulatory Issues, Major Risks and Problems and answer the following questions:nbsp; When are Problems plausible to occur?nbsp; What can you do to mitigate the potential risks and problems?nbsp; How will you deal with these problems?nbsp; The last part of the Risk Analysis looks at how you can turn these problems into opportunities, which parlays into the next Section./p
pstrongCompany Strategies, Strategic Tactics and Strategic programmes:/strongnbsp; First develop your Strategies, then the relating Strategic Tactics and then the resulting Strategic Programs./p
ul
listrongemStrategy/em/strongstrong /strongis Focus.nbsp; Strategy consists of key factors that distinguish your Company and are most expected to contribute to your success.nbsp; It is important that your Company Strategies complement each other so you are not sending your business in separate directions./li
listrongemTactics/em/strong are used to implement strategies and relate to a specific Strategy.nbsp; /li
listrongemPrograms/em/strong are specific business activities which have concrete dates, assigned responsibilities and developed Budgets.nbsp; Programs relate to Specific Tactics of a Specific Strategy./li
/ul
pstrongSales Strategy:/strongnbsp; Remember that sales close the deals which Marketing opens.nbsp; Sales are dealingem directly/em with your Customers.nbsp; Develop the Sales Strategy as it specifically relates to the a href=http://www.businessconsultingabc.com/Developing_and_Writing_A_Winning_Marketing_Plan.html target=_blankMarketing Strategies/a you have set forth.nbsp; identify and develop the different sale methods and channels you will use to sell your Products and Services.nbsp; Determine your Sales Goals and your Sales Process.nbsp; Develop an effective Salesperson Training Program and Compensation Structure.nbsp; You should also look at order processing optimization, sale milestones expectations, price maneuvering, sales leads generation, distributor roles; credit and collection policies; how the Internet will be utilized; and so forth.nbsp;/p
pstrongSales Programs:/strongnbsp; After developing your Sales Strategies, it is time to define your resulting Sales Programs.nbsp; The Sales Program addresses how your Sales Strategy will be implemented.nbsp; Once implemented, you should have systems in place to measure the Strategy Implementation and support your sales efforts./p
pstrongStrategic Alliances and Joint Ventures:/strongnbsp; Define your Keystone Strategic Alliances and Partnerships.nbsp; Identify and develop Co-Marketing and Co-Development Opportunities; Product Help; Commission, Cooperative and Product / Service Agreements.nbsp; Is the fate of your Company tied to another Company?nbsp; Explain how these Alliances help your Company and any built-in risks.nbsp;/p
pstrongOperating Budget — Rolling Monthly Outlook (Yearly Basis):/strongnbsp; The Operating Budget is a Planning and Control Mechanism which helps you develop the next section, the Sales Forecast.nbsp; It should be on a Rolling Basis, Outward looking for one year and the format on a Monthly Basis.nbsp; Rolling Basis means after each quarter you Budget for the next three months.nbsp; The Budget should be twelve months forward looking.nbsp; You should have a Target and Actual Column so you can track results and adjust throughout the year as necessary.nbsp; Your Operational Budget should directly reflect your Strategic Planning Goals.nbsp; Determine whether it is best to use a Top-Down, a Bottom-Up or Blended approach for your Operational Budgets.nbsp; Ask yourself:nbsp; How will your Budget be used as a Control Measure?nbsp; How will your Budget be used to judge Company, Management and Key Employee Performance?nbsp; Your Budget is a of value tool to use for Employee Management, Education and Delegation; Managerial and Executive Goals.nbsp;/p
pstrongSales Forecast:/strongnbsp; Based upon your developed Sales Strategy and Programs, along with your One Year Operational Budget, develop a Five Year Projected Sales Summary Forecast.nbsp; This Forecast, in turn, will be used to develop your Detailed Profit amp; Loss Statement in the Financials Section of your Business Plan.nbsp; If you are an existing business, be sure to highlight your Historical Sales Trends going back three years.nbsp; It is important to show how you will attain your Annual Sales Volume Goals, and the Assumptions used to develop the Sales Forecast.nbsp; What Growth Rates are you projecting and expecting for your most Vital Products and Services?nbsp; What are the major driving forces behind the Forecast?nbsp; Is your Sales Forecast believable?nbsp; What risks are involved?nbsp; It is very important to show how your Sales Forecast relates to your Market Analysis, Target Market Segments, Sales Strategy and Marketing Strategy.nbsp;nbsp; This ensures your Marketing Plan is a direct influence on your Strategic amp; Sales Plan, resulting in a Synergistic and Focused Company-Wide Strategy.nbsp;/p
pstrongMilestones Table:/strongnbsp; Provide your Future Company Goals, Milestones and Strategies, along with your Marketing and Sales Program rollouts.nbsp; For each Milestone Event provide:nbsp; Quantitative and Qualitative Descriptions; Start and End Dates; Budget Numbers; Manager and Department Responsibilities. During the Milestone Table Development, it is important to answer the following key questions:/p
ul
liWhat are the decisive Checkpoints as your Business develops?/li
liWhat specific Milestones will mark the lowering of risks due to the increased viability of your Company? /li
liIf you need to change from your Plan, can your resources surmount these plan variations?nbsp; What contingencies are built into your Strategic Plan?/li
liWhat Systems are in place to gauge your Companyrsquo;s progress in achieving the prescribed Milestones?/li
liHow are your Milestone Analysis amp; Goals an integral part of your day to day Management and Planning Process?/li
/ul
pstrongControl Mechanisms:/strongnbsp; Take an inventory and determine what control mechanisms of each critical resource and skill are available. Do you need to own these resources and skills yourself or is outsourcing a viable option and at what cost savings? Look at ways to build incentives for further cooperation with your importantant skill and resource providers. What are the benefits of such incentives? Understanding your control mechanisms for your companys critical skills and resources is vital to the success of your Strategic Planning./p
pstrongStrategic Planning Advisors/strongstrong:/strongnbsp; Strategic Planning is such an important part of running a Successful Business, we highly advocate nbsp;to retain a competent team of Professionals, Advisors, Experts and Consultants.nbsp; An Experienced Business Consultant can be a very important part of your Strategic Planning Team, ensuring your Strategic Plan is not just effectively developed, but most importantly, effectively implemented throughout your Company Operations.nbsp; After your Strategic Plan is implemented, an experienced a href=http://www.businessconsultingabc.com/Business_Consulting.htmlBusiness Consultant/a can also help you ensure the Strategy stays on track, reaches its goals and / or is adjusted as necessary due to market changes and unforeseen problematic events.nbsp;/p
pstrongemIn conclusion/em/strong, a Successful Strategic and Sales Plan starts with your Products and Services Development, then moves into your Marketing Analysis and Plan Development; this in turn, is a direct influence on your Companyrsquo;s Strategic Plan.nbsp; Flow Charts show these important development steps and their relationships:/p
pstrongemProducts and Services Development/em/strong =gt; Market Analysis and Segmentation =gt; Market Trends =gt; Market Growth =gt; Competitive Analysis, Positioning and Edge =gt; Marketing Strategy:nbsp; Positioning, Pricing, Promotion and Distribution Strategies =gt; Marketing Strategy Profit and Loss Projection =gt; Marketing Programs = strongAn Effective Marketing Plan./strong/p
pstrongemMarketing Plan/em/strong =gt; Strategic Potential Problems and Risk Analysis =gt; Company Strategies, Strategic Tactics and Strategic Programs =gt; Sales Strategy =gt; Sales Programs and Alliances =gt; Company Operating Budget =gt; Sales Forecast =gt; Milestones and Control Mechanisms = strongSuccessful Company Strategic amp; Sales Plan/strong./p
pstrongemCompany Strategic and Sales Plan/em/strong =gt; Company Profit and Loss Statement Projections = strongBelievable Financial Forecasts. /strong/p
pstrongAbout the WRITER/strong/p
pThis article is written by Frank Goley, business consultant for ABC Business Consulting. Frank is an expert in writing, developing and implementing business plans, business turnaround plans, business funding plans, marketing plans and strategic plans. Frank offers comprehensive business consulting, business coaching and business turnaround consulting to small and intermediate size companies . Frank is author of strongemThe Comprehensive Business Plan Workbook ndash; A Step by Step Guide to Effective Business Planning/em/strong, and he has over 30 published articles on business success strategies. He also writes the Business Success Strategies blog./p