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In the last four years, more than 316,000 companies closed in Brazil . Many of them struggled to deal with the crisis generated by the Covid-19 pandemic.

So that your business does not face the same difficulties and overcome turbulent times like this, it is essential to understand how to prepare a business strategic plan .

More than just preparing the company for difficult times, strategic planning helps guide actions so that businesses take advantage of opportunities and build a path of continuous growth.

Do you want to understand how to create a strategic plan for your company? So stay with us and learn all the steps in this process and how to define your business goals.

What is Strategic Business Planning

Corporate strategic planning is a management tool that guides a company’s path to achieving its goals.

This methodology serves to define goals and identify which actions must be taken to achieve them.

For this, it is necessary to make a diagnosis of where the company is, where it wants to go and what strategies will be adopted.

Considered the father of management, Peter Drucker defined the strategic planning of a company as follows:

“Strategic planning is an ongoing and systematic process of business decision-making based on a deep knowledge of the future of the business, including the efforts needed to apply those decisions, measure results and provide feedback.”

How to do Strategic Business Planning

By drawing up the strategic planning of their company, the entrepreneur will be able to see their own business from the perspective of the market. Thus, it will be possible to identify more clearly which actions should be taken to achieve your vision of the future.

On this journey, it is essential to be prepared to make decisions and face challenges. Therefore, it is necessary to pay special attention to the formulation of strategic planning. A few steps help guide this path:

Do a market study

The first step in a company’s strategic planning is to diagnose the current scenario.

In other words, it is necessary to understand where the company is in relation to market positioning, financial situation, employee satisfaction and quality of service or product.

In addition to looking internally at its strengths and weaknesses, the company must analyze the market to identify opportunities and threats. All this assessment can be done with the help of SWOT Analysis.

In English, the acronym means:

– Strengths: what are the company’s strengths that differentiate it when competing with competitors, such as more competitive prices or good brand positioning;

– Weaknesses: the company’s vulnerabilities in relation to competitors, such as negative perception of the brand or little capital available for investment;

– Opportunities: external scenarios that create favorable factors for the company, such as a trend of increased consumption or entry of new investors;

– Threats: all external factors that create an unfavorable environment for the company and can pose threats to the business, such as the entry of new competitors or market crises.

In aspects related to strengths and weaknesses, the company must analyze the internal environment. As for opportunities and threats, external factors must be evaluated.

Define mission, vision and values

Before setting goals, the company must define its identity and positioning. For this, it must be the aspects that can differentiate the business from its competitors.

In this sense, it is enough to clearly outline what the organizational mission, vision and values ​​are.

– Mission: the company’s reason for existence and its business purpose;

– Vision: perspective of the future and what the company intends to become;

– Values: ethical and moral principles that should underpin the actions and behavior of employees.

These three factors are essential to ensure that there is alignment between the company’s actions and its organizational culture.

Define target audience

For the success of any business, you need to define your ideal customer profile. This definition must analyze what are the needs of this person, their desires and their consumption behavior.

If the company wants to increase its sales potential and retain customers , it is essential to know them in detail.

Understanding demographic characteristics, what are their main challenges and needs, consumption habits and what they like will help to see what strategies should be adopted to meet them.

Set goals and objectives

An essential step in a company’s strategic planning is the definition of its goals and objectives. It is necessary to clearly define where the company intends to go.

Objectives must drive the company and be precise. Goals, on the other hand, are guidelines for achieving goals.

Although strategic planning must contemplate long-term objectives, it is necessary to define goals in short periods to ensure that actions are following the correct path.

A good way to set goals is to give preference to those that can be quantified, such as a 30% increase in monthly sales or a 20% increase in the average ticket.

These numbers will help you see if goals are being met or if there should be a course correction.

Plan strategies and actions

Once the goals and objectives have been defined, the next step in strategic planning is to plan the actions to achieve them.

At this point, the resources must be analyzed and the deadlines for each action defined.

It is worth noting that actions are the measures taken to carry out a strategy.

According to Michael Porter’s definition , “strategy is the set of offensive or defensive actions that a company uses to create the position it seeks and have a greater return on investment” .

Therefore, plan strategies to generate a competitive advantage for your company and establish what actions must be taken to carry them out.

At this point, consider the mission, vision and values, as well as how your target audience is formed.

measure results

It will never be possible to define the efficiency of an action if there is no measurement of results.

Therefore, to indicate whether the company’s strategic planning was successful, it is essential to use performance metrics.

Define which KPIs (Key Performance Indicators) will be used to assess whether everything is going according to plan.

The definition of metrics must take into account what the ultimate goal is. It is important that this monitoring is constant and the KPIs are always adapted to keep up with the company’s reality.

Benefits of Strategic Business Planning

A company’s strategic planning is what will guide all actions to achieve its goals. Therefore, good planning lays the foundation for building a successful business .

Among the benefits that strategic planning offers, we can list:

– View of the market and the current scenario of the company;

– Long-term preparation to seize opportunities and react to threats;

– Identification of a competitive edge;

– Greater control over your future;

– Integration and team motivation;

– Agility in decision making;

– Resource optimization.

Consulting in Strategic Business Planning

Even the most experienced entrepreneurs can find it difficult to formulate a strategic plan for their companies. Thus, it is recommended to resort to consultants that help to map the entire path to be taken by an organization to achieve its goals.

In view of the mission of achieving the growth of a business, it is essential to pay special attention to the brand’s positioning in the market, its competitive advantages and its sales potential.

To understand how your company can be more efficient in generating revenue, check out what the team of top experts in the country can teach you.

Through practical and exclusive methodologies , IEV offers the best and most complete solutions that suit your needs.

The Commercial Development Program creates a customized strategy for your business , allowing you, over the course of a year, to overcome all your challenges.

Get in touch with the IEV experts and find out how to ensure that all sales actions in your strategic plan are successful.

 

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