They key is to first identify your 5 year or long-term goals.
Next, identify your one-year goals; that is, what you must achieve in the next year for it to be successful and to put your company on the right trajectory to achieving your 5 year goals.
Section 6: Key Performance Indicators (KPIs) Great businesses understand their metrics and KPIs.
By tracking your KPIs, you know exactly how your business is performing and can adjust as needed.
Section 1: Executive Summary The Executive Summary of your strategic plan should be completed last, and this section merely summarizes each of the other sections of your plan.
The Executive Summary is important since it will help other key constituents, such as employees, advisors, and investors, quickly understand and support your plan.Finally, you’ll map out each of your initiatives, ideally in a Gantt chart, so you know when each project will start and who will lead them.Section 13: Financial Projections The final section of your strategic plan is your financial projections. First, you can use a financial model to assess the potential results for each opportunity you consider pursuing.Section 2: Elevator Pitch An elevator pitch is a brief description of your business.Your elevator pitch is included in your strategic plan since it’s key to your business’ success, and often times should be updated annually.Rather, in addition to defining who your key competitors are, you should list their strengths & weaknesses.Most importantly, use this analysis to determine your current competitive advantages and ways to develop additional advantages.Also, once you determine the opportunities you will pursue, your financial projections will map out the goals.For example, you’ll know exactly how many new customers you must attract in the next month, and at what price point, to achieve next month’s goal.Section 12: Operations Plan Your operations plan helps you transform your goals and opportunities into reality.In this section of your plan, you will identify each of the individual projects that comprise your larger goals and how these projects will be completed.