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How Making a Good Strategic Planning for Small Business

Matswapati July 1, 2020 Strategic Planning

How Making a Good Strategic Planning for Small Business Strategic Planning How Making a Good Strategic Planning for Small Business

Strategic planning is essential thing should be made on business company or organization whether it is a large or small company. The common mistake of people is they think that small business doesn’t need strategic planning. Since the purposes of strategic planning are to list the company goals and the things that they do to realize it. It also contains the analysis of the business itself, from the strength, weakness, opportunity and threats to the evaluation methods. So making strategic planning for small business is also important because it will guide the company into the specific way and it will drastically affect the company's sustainability. Planning it for a small company is not as hard and complex as for large companies, but some things should be considered.

Who are you?
First, you must set the vision, mission and values of the company. These will become guidance for your company on running the business and set the basic company culture. It also becomes a standard on how the company should be progressed in the future. In making a new vision, values and mission, you should consider the basic things, like the main purpose of the company or organization and what company culture you want set in your company.

Analyzing the situation and creating the goals
This is the essential part of strategic planning for small business. The situation of the company contains the strength, weakness, opportunity and threat. Each of them should be listed carefully and precisely since it will make you easier to understand your company fully. It also eases the process of making company’s goals.

Making company goals is important, whether it is short term goal or long term goal, because it will become the company standard of success and growth. These goals also become a motivation for company especially the small one to keep go on and on. Of course after making the goals, you should create plans on making those goals achieved. In making these plans you should consider the resource that company has, like staff, financial, facilities and equipment.

Focus but flexible
If the goals and plans to realize it are ready, then the next strategic planning for small business is making sure to keep focus on those. These plans must be broke down again into the specific tasks, responsibilities and timelines. It will make your staff more focused on what they should do and it will keep the distraction away in the process. But keep in mind that there are lots of factors that can affect small business, so be flexible in your plan. Unlike the large company, the situation of market change even if it is small will have a great impact for a small company. So you should react by adjusting the plans based on the change.

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