Of Business STRATEGY & Business Plans

Wow, since having my articles - PRESS Articles - appearing in The STAR Workplace, I have been inundated with calls from first-time entrepreneurs to give advice on developing a business strategy and preparing a business plan.

I touch on the key features of both in the post below - Chapter 2. Knowing WHERE You’re Going - and here are some further links that can be of help:

1. If you're wanting a deeper insight into Strategy Formulation try this link: Build a Strategic Framework: Mission Statement, Vision, Values. I like their simple explanation of a 'strategic framework for significant success' which consists of:

• a vision for your future,
• a mission that defines what you are doing,
• values that shape your actions,
• strategies that zero in on your key success approaches, and
• goals and action plans to guide your daily, weekly and monthly actions.

2. Free Business Plans and Marketing Templates

3. Defining SMART Objectives

I write in Ch. 11:

Drucker’s Management By Objectives (MBO) principles also introduced the concept of setting S.M.A.R.T. objectives that I came to apply in business as.

S – Specific: Describe precisely the specific intended result
M – Measurable: Quantify for achievement, accountability and feedback
A – Achievable: Set objectives that inspire performance to new target highs
R – Realistic: Make reasonable and believable new target objectives
T – Time: Set time period target for completion of objective

Often, the old principles that stand the test of time are the most simple and profound of all principles.

Quite honestly, Drucker’s MBO and SMART concepts are still the two most basic tools that I use intuitively to stimulate the TEAM COMMUNICATION process in any business project today, with one exception… it is no longer reserved for 'managers’ alone.

Today, where management structures are thinning out to the barest minimum levels possible, EVERYONE in your business team needs to be driven by some form of business and personal MBO, and everyone needs to have the ability to think SMART.

4. Excellent Business Plan Presentation Sample Layouts

Regards
Trevor Nel - 011 - 705-2790 - www.innercircleforum.com
trevor@innercircleforum.com