{"id":27638,"date":"2018-03-07T16:48:49","date_gmt":"2018-03-07T22:48:49","guid":{"rendered":"https:\/\/salesv4.aligntoday.com\/blog\/3-ways-strategic-planning-puts-your-company-ahead\/"},"modified":"2023-07-21T09:24:49","modified_gmt":"2023-07-21T14:24:49","slug":"3-ways-strategic-planning-puts-your-company-ahead","status":"publish","type":"post","link":"https:\/\/aligntoday.com\/blog\/3-ways-strategic-planning-puts-your-company-ahead\/","title":{"rendered":"3 Ways Strategic Planning Puts Your Company Ahead"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1224px;margin-left: calc(-2% \/ 2 );margin-right: calc(-2% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:0.98%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:0.98%;--awb-width-medium:100%;--awb-spacing-right-medium:0.98%;--awb-spacing-left-medium:0.98%;--awb-width-small:100%;--awb-spacing-right-small:0.98%;--awb-spacing-left-small:0.98%;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><p>Don&#8217;t you hate how it always rains the one day you forget your umbrella? While we can&#8217;t successfully plan ahead for every possible situation, having the right tools and info when you need them\u00a0can make your life so much easier.<\/p>\n<p>One of the biggest reasons that companies fail is a lack of strategic planning. Some entrepreneurs are so passionate about their ideas that they jump right into starting a business without really thinking it through. Entrepreneurs who have a shortened planning period or forgo planning altogether\u00a0usually have to deal with bigger issues down the road&#8211;worse than getting soaked in that thunderstorm we mentioned above.<\/p>\n<p><iframe class=\"giphy-embed\" src=\"https:\/\/giphy.com\/embed\/3o7TKGsK4gcsly0rW8\" width=\"480\" height=\"330\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<p><a href=\"https:\/\/giphy.com\/gifs\/hulu-snl-saturday-night-live-nbc-3o7TKGsK4gcsly0rW8\">via GIPHY<\/a><\/p>\n<h2 class=\"Font__heading Font__heading--alt2\"><strong>3 Ways Strategic Planning Helps You in the Long Run<\/strong><\/h2>\n<h2 class=\"Font__heading Font__heading--alt2\">1) Anticipating the Future<\/h2>\n<p>While we can\u2019t predict everything about the future, a thorough\u00a0planning stage give you a much better picture of the world ahead than a crystal ball or blind guesswork.<\/p>\n<p>Entrepreneurs who skip the planning stage\u00a0fail to anticipate\u00a0what their business needs will look like down the road, and they often can&#8217;t\u00a0adapt to changing market pressures.\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/iese\/2016\/07\/31\/entrepreneurs-why-planning-matters-and-how-to-do-it-better\/#65eae5533244\">One recent study<\/a>\u00a0found that the planning phase helps entrepreneurs succeed in three key areas:<\/p>\n<p><strong>1. Understanding the uncertainty in their business environment<\/strong><\/p>\n<p><strong>2. Increasing their self-efficacy and confidence<\/strong><\/p>\n<p><strong>3.\u00a0<\/strong><strong>Improving\u00a0their ability to effectively gauge their predicted financial performance.<\/strong><\/p>\n<p>Leaders who\u00a0employ strategic planning from the get-go have taken the time to consider their company\u2019s future. This preliminary planning puts them ahead of the competition because they\u2019ve already come up with Plans B, C, and D if their first strategy doesn\u2019t go as expected.<\/p>\n<p>They\u2019ve got backups in place, and they\u2019re ready to pivot.<\/p>\n<p><iframe class=\"giphy-embed\" src=\"https:\/\/giphy.com\/embed\/2OP9jbHFlFPW\" width=\"480\" height=\"307\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a href=\"https:\/\/giphy.com\/gifs\/friends-2OP9jbHFlFPW\">via GIPHY<\/a><\/p>\n<p>So don&#8217;t get caught running into a wall; make sure your strategic planning process is complete before you&#8217;re ready to go. When you skip out on planning, it&#8217;s likely that you&#8217;ll get stuck.<\/p>\n<h2 class=\"Font__heading Font__heading--alt2\">2) Choosing the Right Goals<\/h2>\n<p>Another important benefit of strategic planning is that it helps you identify the right short-term and long-term goals for your organization. Being forward-thinking and\u00a0<a href=\"http:\/\/www.inc.com\/michael-olguin\/4-reasons-you-need-to-set-business-goals.html\">setting business goals<\/a>\u00a0gives your team tangible prospects they can strive for, which can inspire your team and help them stay motivated.<\/p>\n<p>But with this in mind, you need to choose goals that are a good fit for your organization and align with your overall purpose and values.<\/p>\n<p>Choosing goals that don\u2019t make sense or are way too easy to reach will ultimately hurt your chances of success.<\/p>\n<p>Famous actor Bruce Lee once said:<\/p>\n<p><strong>\u201cA goal is not always meant to be reached, it often serves simply as something to aim at.\u201d<\/strong><\/p>\n<p>Noted business author Jim Collins follows this sentiment, suggesting that leaders should set\u00a0Big Hairy Audacious Goals or BHAGs, which are goals their companies have a 50-70% chance of achieving. Lofty goals push your team to new heights and help your company avoid stagnation or plateaus.<\/p>\n<p>Your planning process helps your leadership team choose the\u00a0<i>right<\/i>\u00a0goals to aim for, not just things that sound good on paper.<\/p>\n<p><iframe class=\"giphy-embed\" src=\"https:\/\/giphy.com\/embed\/FFb9yZK6t0oDu\" width=\"480\" height=\"288\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a href=\"https:\/\/giphy.com\/gifs\/dog-far-FFb9yZK6t0oDu\">via GIPHY<\/a><\/p>\n<h2 class=\"Font__heading Font__heading--alt2\">3) Destroying Your Competition<\/h2>\n<p>Strategic planning helps give you a leg-up on competitors in your industry. A big element of your planning process should involve market research. This kind of research, combined with\u00a0<a href=\"http:\/\/www.inc.com\/guides\/2010\/05\/conducting-competitive-research.html\">competitor analysis<\/a>\u00a0helps\u00a0you understand what your rivals are doing well and what they&#8217;re not. If you find their weak spots, you can pinpoint opportunities for your business to come out on top.<\/p>\n<p><iframe class=\"giphy-embed\" src=\"https:\/\/giphy.com\/embed\/l0Iydcc0Qo0YbjTiM\" width=\"480\" height=\"270\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a href=\"https:\/\/giphy.com\/gifs\/nhl-hockey-l0Iydcc0Qo0YbjTiM\">via GIPHY<\/a><\/p>\n<p>Many companies perform this research as part of their\u00a0<a href=\"http:\/\/smallbusiness.chron.com\/advantages-swot-analysis-strategic-plan-25672.html\">SWOT analysis<\/a>, a structured planning method that looks at\u00a0a company\u2019s strengths, weaknesses, opportunities, and threats.<\/p>\n<p>Use your prep stage as a chance to find out where your competitors are falling short and learn how your organization might be able to swoop in and a provide a service or product they\u2019re not currently offering.<\/p>\n<p>Entrepreneurs who fail to plan, simply fail. Use the planning process as a way to get your business in order and set yourself up for success from the get-go.<\/p>\n<p>With that, you\u2019re ready to get your strategic planning underway.<\/p>\n<p>Use these processes to make predictions about your company&#8217;s future, set the right goals, and beat out your competition.<span id=\"hs-cta-wrapper-22da3f8d-40d4-4b98-ab70-76e43cd74502\" class=\"hs-cta-wrapper\"><span id=\"hs-cta-22da3f8d-40d4-4b98-ab70-76e43cd74502\" class=\"hs-cta-node hs-cta-22da3f8d-40d4-4b98-ab70-76e43cd74502\"><\/span><\/span><\/p>\n<p><a id=\"cta_button_5092641_5c3c830c-6473-4c25-8ae9-aae0873c3af8\" class=\"cta_button Button__large\" title=\"Want to Stay On Track with your plans?\" href=\"https:\/\/aligntoday.com\/strategic-growth-planning\/\" target=\"_blank\" rel=\"noopener\"><strong>WANT TO STAY ON TRACK WITH YOUR PLANS?<\/strong><\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":33,"featured_media":799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[63,70,103,90,270,271,286,77],"tags":[83,91,68],"class_list":["post-27638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bhag","category-business-planning","category-communication","category-consistent-growth","category-goals","category-growth","category-strategic-planning","category-strategy","tag-communication","tag-goal-setting","tag-strategic-planning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.3.1 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>3 Ways Strategic Planning Puts Your Company Ahead<\/title>\n<meta name=\"description\" content=\"3 Ways Strategic Planning Puts Your Company ahead and increases revenue by just focusing on the priorities that increase revenue. 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