Local business expert discusses strategic planning
One of the biggest mistakes people make when they are new to running a business is the failure to plan and look at the long term goals of their companies. To be fair, it isn’t always their fault. New business owners are typically mired in the day to day operations of their company and they are learning on the fly about all the various responsibilities which accompany business ownership.
Failure to plan for the future and create a strategy to reach a company’s goals leads to plateaus, frustration and in some cases the failure of the business as a whole. Even if you make the best product or provide the best service in your area, without an effective business strategy your business will likely not reach its full potential.
Business coaches and consultants use their knowledge of the business world and of the local market to help owners in various ways, but one of the most important tasks a business coach can assist with is the creation of a strategic plan to meet the owner’s goals.
As a business coach with years of experience in Cincinnati and the surrounding areas, planning with passionate and talented business owners is one of my favorite tasks because it truly helps them reach their goals. If you are looking for business planning assistance, this article discusses some ways a business coach or consultant can help.
Many business owners get caught up in daily tasks, but strategic planning allows them to re-focus on their long term goals and then frame their daily decisions based on those goals. Without a strategic plan in place and/or clear goals set for your company, your business cannot move forward because there is no direction in place.
A business coach’s role in strategic planning involves examining your company as a whole and making recommendations on what steps to take moving forward. Generally, this involves a look inward at your operations to determine your company’s strengths and weaknesses, and externally to determine what opportunities exist for growth and what threats are out there which can undermine your operation.
Once you know what your company does well, you can play to your strengths. If you know your weaknesses, you can shore those up and/or find outside resources to provide assistance. This look at your operations provides concrete steps you can take moving forward to strengthen your business, and a business coach helps use this information in light of your goals to craft your strategy.
A business coach is typically a long-term partner who seeks to help your company succeed. Strategic planning is a large part of the services they offer, but they are typically focused on the company as a whole rather than on a specific department or event.
If you have one area of your business which is struggling to move forward, a business consultant might be able to help. This is another area where I have served in the past and offer my services today. A consultant takes a deep dive into a specific issue and can do the same strategic planning within a department or through a transition.
If business coaching or consulting services can help your company craft an effective strategy, contact me today for more information and let’s get your business headed in the right direction.
