Effective Strategic Planning results in smart decision-making about your company’s future. With a sound strategic plan, you set a new path to growth. Our structured process is particularly well suited for smaller B2B firms.
The objective of creating a sound strategy is to chart a new course for the company, based on sound market intelligence. It involves carefully examining the state of your firm and reviewing what’s working and what isn’t.
Clear insight into markets, customers, competitors, and the trends that may impact the business are key to developing a well thought-out strategy that defines a new direction for your B2B firm.
Creating a comprehensive business strategy requires an open mind, no-holds-barred discussions, and objective evaluation of all available options. With our proven process, you’ll be able to identify new opportunities for growth. Using a collaborative process, we help our B2B clients find their competitive edge and formulate a sound business strategy.
Strategy – Not Just for Large Companies
Tactics without strategy is the noise before defeat.
~Sun Tzu – The Art of War
Small companies need to be smart and highly focused on which opportunities to pursue and which to ignore or abandon. Chasing every shiny object is not a viable strategy for sustainable, profitable growth.
It is not uncommon for a smaller B2B business to lack the expertise for effectively facilitating the strategic planning process. As experienced strategic planning consultants, we help keep the process on track and create a better outcome.
Our Approach to Strategic Planning
Practical, Results-Oriented, Data-Driven
Our process for creating a competitive business strategy for small B2B firms is practical, effective, data-driven, and results-oriented. Working closely with management, we quickly develop an understanding of the state of the business and the environment in which it operates. Based on that insight, we then identify and evaluate strategic options, make rational decisions about the direction of the business, and create a sound action plan.
Developing a sound business strategy starts with asking fundamental questions such as:
- What are our goals?
- How can we accomplish our goals?
- Where are the best growth opportunities?
- Which markets should we be in?
- Which markets should we exit?
- How to beat the competition?
- What will the future look like?
- Which trends will impact our business?
- Which threats to prepare for?
We get to the point in order to formulate a competitive strategy quickly. But, that doesn’t mean that the process is rushed, dumbed-down, or simplistic. Quality of thinking and smart decision making are key. Our comprehensive approach covers topics such as:
- Core competencies
- Customer wants and needs
- Target markets
- Industry and market dynamics
- Market opportunities
- Opportunity analysis
- Scenario planning
- Risk mitigation
- Action plan development
- Resources required
- Budgets and timelines
- Performance metrics
- Accountability and authority
Tailored to B2B Firms
Our strategic planning process is well suited for small to mid-market B2B firms. The goal is to produce a sound strategic action plan quickly, staying focused, and not wasting time. There is no need for over-the-top analysis that doesn’t contribute to the insight needed to make smart decisions. That said, quality of thought and sound decision making is very important. We guard against rushing the process, taking shortcuts, and jumping to conclusions.
Small business often lacks the resources for conducting strategy development meetings. Facilitation expertise and management’s availability are other key constraints. With the experience gained from working with small business enables we create a customized planning process, tailored to your firm’s specific needs.
It’s a Process, not an Event
A two-day retreat at the country club is great as a kick-off. But it’s only a start. Thorough, in-depth strategic planning may take 3 to 4 months to complete. The timing depends on whether the company has done strategic planning before, the complexity of the issues, available resources, and managers’ availability to participate in planning meetings, conference calls, etc.
Taking the time to do it right is important in strategic planning. Rushing through the process and failing to carefully evaluate the available options and the potential pitfalls can put your business in jeopardy.
This is not the time for wishful thinking, shooting from the hip, or jumping to conclusions. Poor planning can be worse than not planning at all.
A strategic plan is not a thick binder that sits on the shelf, collecting dust. But, rather a carefully thought-out, pragmatic and detailed action plan that is ready to be executed.
Results you can expect from the strategic planning process:
- Well-defined long-term goals
- Clarity about business priorities
- Focus on target markets
- Improved competitive position
- Better use of company resources
- Focused Sales & Marketing activities
- A clear action plan
- More innovation
- No more ‘idea of the month’
- Less crisis management
- Better prepared for the future
- In charge of your destiny
Is your business running out of steam? It may be time for a new approach.