Click button to open menu

An introduction to strategic planning

At Greenaway we can provide businesses in the Kent area with advice and support on a wide range of business issues. Here are some tips on strategic planning...

Strategic planning is important and clear goals and objectives are essential for a business to achieve sustained growth and profitability. But for such exercises to be effective you must be ruthless in maintaining focus and achieving measurable results.

Try applying these golden rules to your next strategy session:

Keep a strategic focus

Abandon the fire-fighting mode and emphasise what is important rather than what is urgent. Set goals that look at least a year ahead.

Identify the vital few

The 80:20 rule applies as much to goal setting as it does to any other aspect of your business. For every ten goals proposed, two or three will be of overriding strategic importance. However worthy your list of goals might be, you have to be ruthless in reducing them to just two or three. Any more than this and the business will lose strategic focus.

Insist on measurability

Whenever a goal is proposed force the question, 'How will we know when this goal is achieved?' If you cannot quantify the process and specify the metrics you do not have an attainable goal.

Spell out an action plan

This is where the rubber hits the road - the specific list of to-do's that will translate words into actions and actions into results.

Focus all major resources on achieving the agreed goals

Now is the time to be ruthless and totally focused on ensuring the goals are achieved. Direct all your financial, human, and technical resources to this end and treat everything else as distraction.

Apply the acid test to all decisions, activities, and use of resources: Does this help us achieve our key goals? If the answer is 'Yes', support it, if not, avoid it.

If you are in the Kent area and are looking for help and support from experienced business advisers, contact Greenaway.

Individuals

Looking for proactive advice to help you boost your personal wealth and minimise your tax liability?

Learn More »

Start-ups

Are you starting a new venture? We will work with you to ensure the best possible chance of success.

Learn More »

Businesses

Are you a business owner? Let us help you grow your business, increase your profitability and reduce your tax bill.

Learn More »

Registered to carry on audit work in the UK & Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales.

Details about our audit registration can be viewed at www.auditregister.org.uk for the UK and www.cro.ie/auditors for Ireland, under reference number C006856925

ICAEW-member-firm

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2018 Greenaway Chartered Accountants. All rights reserved.

Greenaway Chartered Accountants, 150 High Street, Sevenoaks, Kent TN13 1XE

We use cookies on this website, you can find more information about cookies here.