Business today is driven by acronyms such as ERP, QA, TM, SAP and the list goes on. One of the less frequent is SP or Strategic Planning. However, I am now convinced that that SP should mean Spray Pray. Let me explain.
During the last almost 10 years, as a business coach and executive coach, I can now predict with almost 100% accuracy that 90% of the business owners at any event drive their businesses through 2 actions. First, they SPRAY all their activity from marketing and sales to customer service and employee training around them and then they PRAY that these actions will stick.
Just this week when speaking to another salesperson of another very new business who was having some difficulty in reaching potential buyers, I heard some confusion. I asked: ?Is there a strategic plan including a market plan, sales plan and a strategic action plan?? The salesperson quickly replied ?No.? Given that this business had just invested in over $100,000 in equipment, space, etc., I quietly shook my head.
How much easier would it have been had the plan been created to clearly identify the target market through the creation of an executable strategic plan instead of using the spray and pray tactic? Strategic planning is the basic key to working smarter not harder.
For many small business owners, strategic planning is not on their radar screen. The belief is that planning takes far too much time and these very busy, time obsessed, business owners do not have time to invest on strategic planning for future change. And heavens forbid for them to consider any providers for business plans services and advice such as consultants or business coaches because they are fine doing what they always have been doing. The only problem here (beyond denial not just being a river in Egypt) is that they will continue to get the results that they are currently receiving.
Strategic planning is essential in today?s highly global competitive market place. New businesses are finding competitors copying their ideas or new franchises with similar business models hanging their shingles just down the road. If you want to take your business to that next level, then take the time to create an executable strategic plan with a market plan, sales plan and financial plan supported by a strategic action plan.
Of course, you could continue with spray and pray and hope for the desired results to be realized. But, then, most of us know that hope is truly not an effective strategy.
By Leanne Hoagland-Smith
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