As a business owner in Foxborough looking to boost your success, you may be considering working with a business coach to help develop a strategic plan. However, you likely still have some key questions. As a FocalPoint coach specializing in strategic planning, I regularly hear certain FAQs, so let’s walk through the top ones.
What Exactly is a Strategic Plan?
Simply put, a strategic plan is a roadmap that sets the direction for your Foxborough business over the next 3-5 years. It outlines your vision, goals, target customers, competitive advantages and actionable strategies across key areas like operations, marketing, and finance to help you intelligently grow. It serves as a guiding document for major decisions.
Why Work with a Business Coach on Strategic Planning?
There are great benefits to collaborating with a skilled business coach rather than trying to develop a complex strategic plan alone. As an unbiased but invested third party, I bring expertise in planning methodology along with an outside perspective of your business’s strengths and weaknesses. This allows me to effectively advise and challenge you to set the best strategies. My support vastly accelerates the process and results in a high quality plan.
What Does the Strategic Planning Process Look Like?
If we work together, our first step is thoroughly assessing your current business state and needs through interviews with you and key employees, reviewing operations and analyzing finances. I then guide you through clarifying your long-term vision and SMART goals based on growth potential. Next, we identify changes needed internally and externally to best meet goals. Finally, I help you compile realistic steps into a cohesive 3-5 year plan document. Expect around 4-6 weeks for the full process.
What Areas Does a Strategic Plan Cover?
A comprehensive strategic plan will include sections outlining yearly objectives, target customers, value propositions, competitive positioning, marketing plans, branding strategy, operational workflow, human resource allocation, financial outlook, budgets, metrics/KPIs to gauge progress, and an executive summary for quick reference. The goal is constructing an all-encompassing guide. I tailor to ensure relevance to your Foxborough business’s specific needs.
How Often Should it be Revised?
Industry best practice is revisiting your strategic plan at least every 12 months. Markets shift, new technologies emerge and goals evolve, so regular revision ensures your plan stays pertinent. I recommend meeting 6 months into each year to review and make any necessary adjustments to keep momentum. As your coach, I’m happy to continue advising on these revisions as needed.
I hope this gives you greater clarity on my strategic planning services as a FocalPoint business coach! Please reach out if you have any other questions—I’m always happy to discuss if and how I can support your Foxborough company’s growth journey.
