By John Dickson | Chairman
While not the most exciting topic in the scheme of things, Strategic Planning is still one of the most critical activities that any business can undertake if they want to succeed. It provides a sense of direction, outlines measurable goals, and is a power tool that helps guide day to day decisions and evaluate progress for changing approaches as you move forward. It is a living, breathing document that needs regular attention and review from the top level of management.
In order to make the most of strategic planning, you need to give careful thought to your strategic objectives, and then back up these goals with realistic, thoroughly researched, quantifiable benchmarks for evaluating your results.
Who needs a strategy?
In short, everyone who wants to genuinely succeed in business. A strategic plan is an important way to align your team and keep your business moving forward and achieving its goals. Small-medium organisations may decide on an ongoing strategy process, while larger diversified companies could look at a more systemic approach to strategic planning.
What does strategic planning entail?
Generally, a one day intensive workshop will set the groundwork for a successful year and should cover off on core topics like:
- Industry trends
- Club designs
- Gaming analysis
- Financial performance
- Borrowing capacity
- Marketing strategy
- SWOT analysis
- Management implementation plan for action on key issues
- Plus, unique to venue topics and activities
Once the workshop is completed, a comprehensive strategy and report outlining outcomes, objectives, timelines and a dedicated plan should be devised based on the intensive discussions, to keep the organisation on track. Reviewing the strategy quarterly is always advised moving forward, to ensure that timely activities and objectives are achieving the results you planned for.
Why is strategic planning important?
Strategic planning aligns your team, ensures progress towards your vision, mission and goals, eliminates restrictive communication silos, and addresses organisational change. It also helps you to clearly understand your market, industry, audiences and competitors, while assisting you to analyse and plan for best and worst-case scenarios.
When should strategic planning be done?
Anytime is a good time for an organisation to get started on strategic planning. Regardless of how busy, or slow it is, how well you are currently performing or even whether you have a strategy in place; creating, reviewing, analysing and updating is critical to the ongoing success of your organisational success, and a clear strategy will make all the difference.
The process of strategic planning can be as important to your organisations as the results it achieves. It can be an especially valuable process when it includes employees in all departments and at all levels of responsibility thinking about how their activities and responsibilities fit into the larger picture, and about their potential contributions.
If you are looking to create, review or update a strategic plan … one simple day out of your busy schedule can make a huge difference in your up and coming year. We have worked with multiple clubs, hotels and hospitality venues to help devise and deliver a strategic approach to growth, so if you need help, we are just a confidential phone call away.
From just $7,500 we can get your strategy moving your organisation in the right direction, contact John Dickson on 0417 721 942 today.