Back in 1999, I would have said that a good time to start business planning was during your annual company retreat in Aruba. (Mai Tai's optional, of course.)
But as you might have guessed, that's not the case today. Market volatility and the natural-selection-on-steroids process we're witnessing now simply doesn't allow too much luxury time spent in "planning to plan."
The short answer on when to start planning business strategy is this: NOW.
No matter how you spend your money or focus your personnel, every single component of planning helps better inform those decisions. Here are a few big ways in which planning components can play a pivotal role in attaining your business objectives:
- Audience Analysis: Have you narrowly refined your targets? Applied the 80/20 rule? Developed personas?
- Competitive Landscape: What should you do that's "me-too?" Where should you break from the pack?
- Executive Roadmap: Is every sales and marketing activity tied to a strategy and overarching business goal?
- Messaging: What is your relevant, values-driven authentic message? What is your thought leadership platform?
- Integrated Promotions: How will you tie everything together, including social media?
Deep down we know the value of planning, and why the following quote resonates:
“Planning is bringing the future into the present
so that you can do something about it now.”
~Alan Lakein
Although there is a strong business case for starting now -- for competitive and revenue reasons -- in future articles we will be exploring more practical timelines for high-impact milestones such as key events and product or service launches.
Stay tuned...
Ms. Garza publishes this information to help companies and non-profit organizations market more successfully. If you find it helpful, please share.
And if you would like to include this article on your blog as a guest post, we'd be honored. Please write to us here: info AT apexinsights DOT com.
