Most entrepreneurs agree that the ability to consistently execute is a key factor in surviving the start-up phase and ultimately winning. That said you could not make a pig fly, no matter how much you stick with it. In other words, a crummy plan executed well still gets you crummy results. So start with a solid strategy.
A sound plan and a simple plan are not mutually exclusive. If you are going to work on a plan, your plan should work for you.
Management journals, books, blogs and articles are filled with countless approaches to strategic planning. The definitions for the various components of a strategic plan can be debated endlessly: a vision versus a mission, initiatives versus tactics, and goals versus objectives.
Whatever the terms you prefer, cut through the clutter by answering six simple questions about your business:
Why do we exist?
Where are we going?
How will we conduct ourselves?
What will we do?
How will we measure our success?
What improvements or changes must we make?
Answering these questions will get you started with a solid plan you can execute. In addition, a final note of caution: Do not be deceived by the simplicity of the questions.
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