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.
For external parties, such as investors, partners, and customers, your mission can inspire them to take the actions you want.
Section 4: SWOT The reason to include a SWOT analysis (analysis of your Strengths, Weaknesses, Opportunities and Threats) in your Strategic Plan is to help you determine the best opportunities to pursue to achieve your growth goals.
Then work backwards two more times to determine your goals for the next quarter and the next month.
Ideally you update you strategic plan monthly to modify this section.
Here’s why it’s important: if your employees can’t clearly and concisely articulate your business to others, you inevitably miss out on tons of sales and other opportunities.
Section 3: Company Mission Statement Your company mission statement explains what your business is trying to achieve. You see, for internal decision-making, your mission statement guides employees to make the right decisions; decisions that are in line with helping the company achieve its mission.
Section 7: Target Customers In this section of your strategic plan, you will identify the wants and needs of each of your target customer groups.
This is important in focusing your marketing efforts and getting a higher return on investment on your advertising expenditures.