One month in: Are you working your 2012 strategic plan?

As the economy continues its pivot towards improving, business owners should be assessing and re-assessing goals set for 2012. Why do this now? Because its early enough where you can tweak your plan. You do have a strategic plan, don't you? My business provides services to other businesses. Based on projections, I drafted a very ambitious strategic plan. To encourage myself, I publicly lay claim to my goals. I'm happy to report, we exceeded plan by 1.22%. Now comes the time to re-assess. Owners should be asking the following questions:

1. Were expectations too high/low
2. Is this a fluke?
3. Should we increase/decrease projections?
4. Is our success/failure in line with national numbers? 

photo courtesy of Posterize via freedigitalphotos.net

What if I didn't draft a strategic plan?

No strategic plan? Well first of all, a wag of the finger. You need a strategic plan. You'll never arrive anywhere unless you plan to go somewhere. Success doesn't just happen. As I've stressed on many an occasion, there is a formula for understanding the true value of your business and from that, you can develop a plan to drive success. If you need help developing a plan, ask your consultant. You did get around to hiring that consultant, right? Consultants can help you plan and understand how numbers work.
Last, don't be discouraged if your don't meet or beat your initial projections. Again, it's still early in the year. This is your adjustment period. Look at all factors to include the job market, the general state of like-businesses in the area, and your activities. Now go back to working that plan!

If you find that you need a consultant to help you with a strategic plan or equation, My firm, MayHAC does perform the service. Please don't hesitate to reach out: Shereese@mayhac.com or phone 443-470-3630