Developing A Strategic Plan

Written by Rachel Arieff
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Developing a strategic plan is important to the success of any major financial undertaking. The strategic plan should answer not only the question of "What?" but also "How?" Whether you're starting a business, reviewing your business or even divesting your business, strategic planning is crucial in order to obtain the best results.

Besides better ensuring success, developing a strategic plan will also help make the entire process much easier to deal with. There's nothing worse than piling on unnecessary stress to an already difficult and complicated process. Yet many of us do just that when we don't create a good strategic plan.

Aim High When Developing A Strategic Plan

The truth is that it's very human to not plan, to "wing it". We can be tempted to enter blindly into new ventures, having faith that things will go just fine. After all, it's a lot more comforting to have that point of view than to worry about what will actually happen.

Yet the very discomfort we're avoiding by skipping the planning process comes back to us tenfold later, when the poorly planned project turns to chaos. This is why developing a strategic plan is so important. You don't want just a good strategic plan, either; you want a great one. This is why many fledgling businesses turn to the strategic planning services of good business consulting firms.

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