Strategic Planning for Startups #1
Compiled by Peter/CXO Wiz4biz 8/09
In customizing a strategic Business Plan as a Startup, select the appropriate elements from the following list and integrate them into your working Business Model that functions as a driver of ongoing planning.
1. Purpose – [Why we exist?] Our long-term concept of what we are, which also provides the context for re-defining the business as situation changes.
2. Mission – [What business we are in?] Defines the specific context we operate in, what we do, to provide operational focus.
3. Vision – [What we want to be become?] An idea of what we want to work for and be in 3-5 years. Creates a dream to reach for.
4. Values – [What we believe, how we operate] Provides a context of principles / beliefs for all our personnel in the way we do business internally and how we interact with the outside (ie, Customers).
5. Critical Issues – [What our greatest Strategic “challenges” are going forward?] Keep an on-going list and discuss periodically (ie, Quarterly). Add new items to the list as they arise. Meet more often, if there is an “urgency” of any of the issues. Remove from the list when no longer a threat. In fact, do a SWOT analysis during Quarterly meeting. (Strengths, Weakness, Opportunities & Threats)
6. Environmental analysis – [What is going on in the outside world?] Gather data on, and consider trends in, the company’s environment, then adapt your strategy to take advantage of these trends.
7. Scenario generation – [Are we prepared?] Combines a view of possible alternative options with evaluation of pertinent strategies. This should be done – at least every Quarter – but more often, if urgent. Consider all the Resources facts of each solution to use the best one.
8. Driving Force – [What is the company’s most fundamental Focus and its basis for Competitive Advantage?] This defines the scope (range, parameters) of markets / products / service, and guides decision-making about them.
(Core Competencies, BHAGs, Financial Projections, and additional information available in Premium Content)