Lots of potential clients contact us about strategic planning \u2013 it is the mainstay of our work.\u00a0 Yet when I try to explain to a new acquaintance what I do, they don\u2019t really understand what strategic planning is.\u00a0 That prompted us to write this post to help orient people to our work.<\/p>\n
A strategic plan is a long-term planning process that responds to information on your context \u2013 what your stakeholders need or want from you, major societal trends, what makes you unique or different from others.\u00a0 A strategic plan requires that you gather information on all of these factors and use them to carefully build a roadmap for your next 3-5 years that will make you relevant, strong, resilient and adaptive.\u00a0 So what are the key steps to creating a strategic plan?<\/p>\n
You have to enter into strategic planning with a clear eyed assessment of what your capacity is to take on major change.\u00a0 Ideally your organization has both assets and liquidity to help you navigate new ideas or risks.\u00a0 If you don\u2019t have those things, then you know your strategic plan is primarily about sustainability \u2013 how can you build a solid financial footing for the future.<\/p>\n
Your plan should be created to answer the big, existential questions facing your organization, like \u201cwhat will the shifting client demographics mean for our organization going forward?\u201d \u2013 things that are so<\/strong> important the opportunity cost of not answering them is too high.<\/p>\n Remember that what makes a plan strategic is that it responds to information on your context.\u00a0 It is important to engage your stakeholders<\/a> \u2013 your board, staff, clients\/audiences\/patrons, funders, colleagues \u2013 in the process so you can factor in their perspectives.<\/p>\n It is important to build an objective portrait of your role in the market.\u00a0 How many others are serving your clients, and in what ways?\u00a0 How is what you offer unique or different?\u00a0 How do you know you are needed?<\/p>\n Pull the information together from talking to stakeholders and researching the market and use that to accurately map your strategic position \u2013 where are you strong or weak, where are there opportunities or threats for your organization?<\/p>\n How will the world be different or better off as a result of your work?\u00a0 What is the difference you seek to make?<\/p>\n Ensure your goals are big enough to take the full 3-5 years to accomplish, make sure they are achievable and ask yourselves if they are compelling enough to create interest in your plan from your stakeholders and investors.<\/p>\n Be sure your mission reflects the goals you have just laid out and the picture of the work you will be doing to realize your vision.<\/p>\n Strategies live inside each of your goals.\u00a0 Taken together, they should show the different ways you plan to accomplish your goals.<\/p>\n Build an implementation plan that helps you understand how your plan will be sequenced and what new investments you\u2019ll need to make to live into your strategic plan.<\/p>\n Last, but not least, be sure you take into consideration the financial implications of your plan \u2013 it needs to be grounded and realistic financially to give your board confidence that you\u2019ve done it right!<\/p>\n3.\u00a0\u00a0\u00a0\u00a0 Talk to your stakeholders<\/a><\/h3>\n
4.\u00a0\u00a0\u00a0\u00a0 Research the market <\/a><\/h3>\n
5.\u00a0\u00a0\u00a0\u00a0 Map your strategic position<\/em><\/strong><\/a><\/h3>\n
6.\u00a0\u00a0\u00a0\u00a0 Frame your vision of success<\/em><\/strong><\/a><\/h3>\n
7.\u00a0\u00a0\u00a0\u00a0 Create your strategic plan goals<\/em><\/a><\/h3>\n
8.\u00a0\u00a0\u00a0\u00a0 Create or revise your mission<\/em><\/strong><\/a><\/h3>\n
9.\u00a0\u00a0\u00a0\u00a0 Build your strategies<\/em><\/strong><\/h3>\n
10.\u00a0 Plan for action <\/em><\/strong><\/h3>\n
11.\u00a0 Understand the financial implications<\/em><\/strong><\/h3>\n
Conclusion<\/h2>\n