How to Create a Strategic Plan for Your Startup or Small Business

Description
Many business coaches and consultants regularly emphasize the benefits of a strong strategic plan and implore entrepreneurs to spend the time necessary to create a great one to guide the growth of a business. But what is a strategic plan exactly and what are the elements of a good one?

The first step in creating a strong strategic plan is having a clear vision of where you want to go. Strategies are developed in order to help you achieve certain goals, so you need to set those goals before you can develop the strategy. If you want to have a strategic plan that's actionable and helpful, you need to be clear and specific about the goals that you're trying to achieve. Don't say that you want your business to be more profitable by the end of the year. Say that you want to achieve a profit of one million dollars. Don't say that you want to increase your number of customers. Say that you want to increase your number of customers by 70%.

Watch this video to see what all Cate has to advise on creating and implementing a strong strategic plan.

Length: 3 minutes 37 seconds