Strategic Plan Template

Summary

In this video, Don Crowther emphasizes the importance of strategic planning for small businesses, highlighting how it can lead to higher sales growth, better profitability, and innovation. He addresses the common challenge of complexity in traditional planning and offers a simplified two-page template to help businesses identify their current status, desired future, and specific action plans to bridge the gap. The video also includes a sample filled-out template and encourages regular review and revision of the plan for ongoing success.

Takeaways

• 🚀 Strategic planning is crucial for small businesses looking to grow in sales, profitability, and employee numbers.
• 💡 Small businesses that plan strategically are more innovative and have a higher chance of international growth.
• 📉 Companies without strategic plans are more likely to fail compared to those with clear strategies.
• 🤔 Most small businesses struggle with strategic planning due to a lack of knowledge and the complexity of traditional planning processes.
• 📋 Don Crowther offers a simplified two-page template to make strategic planning more accessible and less time-consuming.
• ⏱ The process of strategic planning with the provided template should take an average person 2 to 3 hours to complete.
• 🔗 The template includes a section for the current situation, desired situation, key indicators, and specific objectives with measurable targets.
• 📝 It's important to fill in the gap between current and desired situations with specific actions and due dates to track progress.
• 📈 The plan should be reviewed and revised regularly, ideally every few months, to adapt to changing circumstances and ensure alignment with objectives.
• 💼 The strategic plan should be a living document that is revisited and updated as the business evolves and as new information becomes available.
• 🌐 Don Crowther encourages viewers to download the template and sample from his website to get started on their strategic planning.

Q & A

What is the main purpose of the video by Don Crowther?

The main purpose of the video is to emphasize the importance of strategic planning for small businesses and to introduce a simplified two-page template for creating a strategic plan.

According to the video, what are the benefits of strategic planning for small businesses?

The benefits include higher sales growth, better return on assets, improved profit margins, increased employee growth, innovation, international growth, and a reduced likelihood of business failure.

Why do most companies struggle with strategic planning according to Don Crowther?

Most companies struggle because they find strategic planning templates and formats to be complex, time-consuming, and often not action-oriented, which discourages them from investing the time to create a plan.

What is the simplified process of strategic planning as outlined by Don Crowther?

The simplified process involves identifying the current situation, determining the desired situation, and creating specific action plans to bridge the gap between the two.

How long does it typically take to go through the strategic planning process using Don Crowther's template?

It takes an average person who understands what they are doing about two to three hours to complete the strategic planning process using the provided template.

What does the two-page strategic plan template consist of?

The template consists of a current situation section, a desired situation section with specific objectives, action plans with due dates, additional goals, and a calendar for key strategic initiatives.

What is the significance of having specific objectives with numbers in the strategic plan?

Having specific objectives with numbers allows for measurable progress tracking, ensuring that the business can prove whether the goals have been achieved or not.

Why is it important to focus on the gap between the current and desired situations in the strategic plan?

Focusing on the gap helps identify the specific actions needed to achieve the desired situation and ensures that the strategic plan is action-oriented and goal-driven.

What are the three types of customers that should be considered in the strategic plan according to the video?

The three types of customers are existing customers, new customers, and lapsed customers, each requiring different strategies to maximize their value to the business.

How often should a strategic plan be reviewed and revised according to Don Crowther's recommendation?

A strategic plan should be reviewed weekly and revised two to three times per year to ensure it remains a living, breathing document that adapts to the evolving business landscape.

Where can viewers download the two-page strategic plan template and find additional resources?

Viewers can download the template and find additional resources at DonCrowther.com/a/stratplan, as well as sign up for a free newsletter at www.doncrowther.com for more marketing tips.