STRATEGIC PLANNING
STRATEGY PLANNING FOR BUSINESSES & CORPORATIONS
FocalPoint coaches work with some of the top companies in the U.S. and the world, helping them plan and strategize how to grow to new heights. Locally, we are headquartered in Simpsonville, SC, and serve the greater Upstate South Carolina area, including Greenville, Spartanburg, Anderson, & Fountain Inn, SC.
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Planning for the future is a key function of any business, and it should happen continually, not just when forming your initial business plan. So many business owners get caught up in the day to day operations of their companies and fail to plan for the future. This daily grind of treading water is no way to succeed long term, and can lead to companies stagnating or eventually failing.
Instead of continually trying to maintain, smart business owners keep an eye on the future and craft strategies to succeed in the present. Strategic planning is an essential part of any successful business, but many owners are either too wrapped up in running their businesses or don’t fully understand how to plan effectively.
A business coach can be valuable for strategic planning, and in this article we will answer some FAQs about business coaches and the role they play in strategic planning to hopefully give you a better idea of how they can help and if a business coach could benefit your business.
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WHAT IS STRATEGIC PLANNING?
Strategic planning involves examining a company and the marketplace it operates in through the lens of the company goals, and then using this information to make plans to reach those goals. Strategic planning is an ongoing process, and helps determine the strategy for the company in the short and long term. Effective planning involves the allocation of resources, determining what makes a business successful and the continual review of the company’s procedures.
WHY DO BUSINESS OWNERS NEED A COACH TO HELP WITH STRATEGIC PLANNING?
Many business owners are fantastic in their fields, but this alone doesn’t mean their companies will be successful. In order for a business to succeed, it must be revenue positive, market its products or services correctly and stay in compliance with laws and regulations. Having an expert in your corner who has helped several businesses succeed over the years only advances these goals, and this extra voice in the room can help you avoid common mistakes and take advantage of the right opportunities.
WHAT ARE SOME KEY ELEMENTS OF STRATEGIC PLANNING?
Strategic planning should always begin with a review of your company’s goals to determine the right direction. From there, the company should be evaluated internally and externally. Areas of strength should be expanded upon and taken advantage of, while weaknesses should be shored up or defended against. Planning also involves the identification of opportunities for growth, and determining what resources to allocate toward those opportunities.
WHAT SHOULD I EXPECT FROM A STRATEGIC PLANNING BUSINESS COACH?
Business coaches are in place to help your company reach its goals, and strategic planning plays an important role in reaching any goal. A business coach will tailor their approach to your needs, but from a planning standpoint they can guide the conversation based on their experience and help you avoid mistakes made by many new business owners. Coaches also know the local market, how to push your products or services and how to ensure your expenses are in check, all valuable qualities to understand when planning.
If you own a business in the South Carolina Upstate including the cities of Spartanburg, Anderson, Greer, Clemson, Greenville or the surrounding areas, and you feel like strategic planning with the help of an expert can help your company thrive, give me a call or fill out the form on my website to get started today.