Strategic planning may be little more than an academic exercise for big corporations that have established systems and processes and are now just going through the motions.
But for IT/MSP businesses, it holds more significance. In fact, many experts believe that strategic planning is absolutely vital for company success.
However, many businesses work under the impression that strategic planning is simply business planning with a bit of outside-the-box-thinking. Fact of the matter is that strategic planning is a lot more.
It describes your vision for the company, i.e. where your company is headed in the future – near and far.
Strategic Planning For Entrepreneurs
When it comes to SMEs, strategic planning is not a large-scale exercise; but it’s about finding and keeping the spotlight on areas that will generate enduring business health. It helps determine what a business isn’t doing, how important it is to do it, and why.
The benefits of doing all that for a IT/MSP business should be quite obvious.
Again, these are not to be confused with business operation plans.
Strategic planning is an expression of the owner’s dreams and vision of a successful business. It conveys where they want to be, but doesn’t offer any ‘road maps’ or details on how to get there; that’s where your business plan comes into play.
So in essence, strategic planning is the design or blueprint to a business.
A strategic plan helps business keep in sight their goals.
Improvising a Strategic Plan
Management sciences play an important part in coming up with a strategic plan, but the ‘feels’ are just as big a part of the deal. Brainstorming by the senior management works pretty well too. The more you appreciate your company, your industry, and your “wish list”, the better strategic plan you’ll produce.
For starters, having a strategic plan will provide your business and brand an identity and long term goals to strive for. It will help differentiate your struggle and clearly emphasize what you do well, and why you do it.
Secondly, a well-devised strategic plan helps enhance the market focus. Creating such a plan would necessitate the deconstruction of the goals, clearly giving your business a clear direction on where to sell, and who to sell to.
Lastly, it acts as a unifier, offering a focal point to converge on for your entire company. Whether it’s a IT/MSP business with less than 10 employees or one that is taking over and onto hiring its five-hundredth employee, when team members know what they’re working towards, they work smarter and harder.
Strategic planning can help narrow things down and ensure that each person working for your business focuses on goals that lead to long term survival and growth.
P.S. whenever you’re ready, here are 3 ways I can help you help grow and scale your IT & MSP business:
- Join our community of ConnectWise users and industry experts here: www.cwboss.com It’s the easiest way to plan ahead for growth, learn helpful tips and join weekly educational workshops.
- Learn how to be the #CWBOSS of your business by joining our weekly workshops here: https://bit.ly/2XmaM6O Every Thursday our CEO & President, Adam Bielanski, hosts a 30 minute workshop around making ConnectWise work for your business
- Work with me and my team privately: If you’d like to work directly with Adam and the team to actually get you out of the weeds and into your flow, schedule a 15 minute Triage call here: https://calendly.com/adambielanski/15min