A dynamic strategy that details your company’s present situation, outlines future plans and shows how the company can get there. There may be many approaches to this process and consideration of differing ideas about what needs to go into it.
It answers the fundamental questions of: What do you want to do? How are you going to do it? And what would happen if you achieve your plans? The answers to these questions make up the steps to complete a strategic plan.
Business strategy is a detailed roadmap outlining the steps necessary to ensure high profitable growth. Strategic Visioning describes where your company should go and how to get there. I conduct a strategic planning process to define your company mission, vision short-term, long-term business objectives, and critical initiatives. In this process, I create a map that translates your strategy with long-term goals, key performance indicators, and targets.
A key component is identifying the key drivers of your financial goals to quickly explain and measure profit growth or profit decline and the steps required to act accordingly. During this visioning process, you may decide whether to enter a new market or launch a new product based on desirability, feasibility, and profitability. Or if you should acquire a new company based on the deal’s financial benefits, strategic benefits, and feasibility.
Together we build a strong business case for any potential executive committee approvals that include sophisticated and straightforward financial models to estimate project financials: Revenue, cost casings, cash flow, and net present value.
Prioritizing your company’s potential initiatives is based on impact and effort. We carry out a market and competitor analysis to better define your strategy and outperform in the market during this process.
The final steps include defining a pricing strategy to maximize profits and conduct commercial due diligence to identify your company’s likely future performance. Final strategic planning documents and strategic visioning maps will include the answers to these questions about your business:
- Where are we now?
- Where are we going?
- How are we going to get there?
- What happens when we get there?
- What do we do if we don’t arrive at our destination?
While each business has its unique blend of circumstances and critical drivers, the final basic strategy will include parts of these sections:
- Elevator Pitch
- A twenty-second message describing your business value statement
- Mission Statement
- A summary of the aims and values of your company
- Vision Statement
- A description of how your company impacts the community, industry, or the world.
- One-year goals
- A list of the accomplishment you intend to achieve within the next twelve months.
- Industry Analysis
- A review of the competitive dynamics within your industry
- Marketing Plan
- A report outlining how your business will generate leads and reach a target market goal for the coming year.
- Financial projections
- A report highlighting the future forecast of revenues and expenses associated with your goals.
- Operations Plan
- A detailed plan that defines how your employment team contributes to reaching your goals.
- Evaluation Methods
- Determine the value of your company by using current standard industry techniques to value your company.
In developing each of these sections, I take into consideration the long-term goals of the company. The strategic vision includes the business’s long-term destination and what it can expect to accomplish within the next twelve months. A visual strategic map will highlight the steps required to achieve goals in the following areas:
- Learning, growth, or potential exits
About Darlene Ziebell
Darlene Ziebell brings over 25 years of experience in business management consulting and entrepreneurship. She bases her methods on a unique blend of large enterprise strategies and the battle scars she acquired in four businesses, including startups, mergers, ESOP, acquisitions, partnerships, and legal challenges. One of her many endeavors is a management consulting firm with a client base representing 20% of the Fortune 1000. She is an advisor to business owners, helping them achieve successful growth strategies with her proprietary Quick-Start Operating Profit (QSOP) assessment tool. Darlene earned her MBA from the prestigious Kellogg Graduate School of Management.