Strategic Planning

Achieving success with strategic planning

Unlock the benefits of working with a trusted family business advisor to implement a tailored plan that will deliver lasting success.

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What is Strategic Planning?

Strategic planning is the process of creating a plan for how a business will reach its goals. A comprehensive strategic plan tailored to your family business can bring about real actionable results.

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Purpose of Strategic Planning

Establishing long-term objectives

Strategic Planning provides a clear roadmap for an organization to reach its mission. It outlines achievable steps with specific objectives and measurable targets that can be achieved over time.

Defining benchmarks that indicate success

Strategic plans provide periodic benchmarks to measure progress in achieving longer-term goals, enabling management and the board to monitor and evaluate the plan's implementation.

Creating an allocation plan

The strategic plan ensures resources are allocated in the most beneficial way to help the company reach its goals. It helps prioritize key activities that will lead to their success.

Why Family Businesses Should Prioritize Strategic Planning

Effective strategic planning can help family businesses to remain competitive and profitable, by ensuring they are well-positioned to take advantage of emerging trends, capitalize on opportunities and respond quickly to changes in the market. Strategic planning is essential for any business wanting to succeed and thrive, but it is particularly important for family businesses that need to create an effective succession plan and ensure their long-term sustainability.

How Strategic Planning Works

Strategic planning involves creating a roadmap for achieving long-term objectives and goals.

Assessment

Get a detailed understanding of your business and its environment with expert guidance and an accurate assessment of all available resources.

Planning

Start putting the pieces of the puzzle into an actionable series of steps that will accomplish the business's goal.

Implementation

Even though many organizations create strategic plans, putting them into practice is often neglected. Our process ensures businesses stay on the right track by making timely adjustments to achieve the desired outcomes.

Common problems with Strategic Planning

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Organizational structure difficulties

Proper organization and decision-making is integral for family businesses, but often difficult to achieve.

Managing family challenges

Navigating the balancing of both family dynamics and business operations is a common issue when it comes to family businesses.

Job descriptions and roles confusion

It can be difficult for family businesses to clearly define job expectations and roles amongst their members to remain successful.

Balancing family & professional accountability

Having difficulty reconciling familial loyalty and business strategies can be a hurdle for many family businesses when it comes to planning their future.

How to implement Strategic Planning effectively

Develop objectives

Defining the goals and expectations of the organization creates clarity when developing a strategic plan.

Create a plan

Putting together an actionable plan to reach the objectives is key in achieving success.

Review progress

Regularly checking in on the progress and making adjustments as needed can help ensure that the goals are met.

Allow for flexibility

Having flexibility in the structure of organization helps family businesses remain competitive.

Are you a family business leader looking to expand and perpetuate your family's legacy?

Each of our strategy consultants bring 20+ years of experience in working with family businesses to help you address the key issues you face in preparing your family business to continue to the next generation.

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