Now Is the Best Time to Start Strategic Planning for Your Business
While any time is a good time to begin your strategic planning effort, the fourth quarter of the year (don’t look now, but it will be here in a matter of days) is an especially good time. With three quarters of the present year in the books and Q4 projections reasonably reliable, the present fiscal year view is nearly in place and provides an appropriate beginning point for planning out the next one to three years.
Just as important, getting your senior team together to assess progress made in the most recent 12-24 months (and wasn’t that an interesting time) and beginning to plan for a bigger, better future should start now.
Speaking with one CEO/owner recently about the past 18 months, he had this to say: “It’s been a rough year and a half to be sure. The good news is that if we made it through that, and we did, we’re in a good place from which to build for better days ahead. Our strategic plan is the fundamental foundation for doing just that."
If you’ve never led your team through a robust, structured strategic planning session, now is the time to start. Maybe you’ve thought about it or even tried it on your own. The impact of a professionally facilitated, off-site, two-day strategic planning session can move your organization forward in ways you could not have imagined. And your leadership team will come together and be strengthened by the deep, open, honest discussion, dialogue, and yes, even debate that a planning session brings forward.
With some simple prep work, a tight, structured agenda, some agreed-upon ground rules and a simple, focused, common-sense approach, your strategic planning session will get your organization aligned and fully prepared for the opportunities, issues, challenges, and obstacles that are ahead. And you’ll set a course for success that will separate you from the competition with new insights and an organizational focus and cohesion needed to ensure lasting success.
For more information on planning for a successful planning meeting, contact me at firstname.lastname@example.org.
Joseph P. Truncale, Ph.D., CAE, is the Founder and Principal of Alexander Joseph Associates, a privately held consultancy specializing in executive business advisory services with clients throughout the graphic communications industry.
Joe spent 30 years with NAPL, including 11 years as President and CEO. He is an adjunct professor at NYU teaching graduate courses in Executive Leadership; Financial Management and Analysis; Finance for Marketing Decisions; and Leadership: The C Suite Perspective. He may be reached at Joe@ajstrategy.com. Phone or text: (201) 394-8160.