Growth Strategy - Developing a Strategic Action Plan

Welcome to the next phase of your business journey.

In the previous Newsletters, I emphasized the importance of setting clear strategic priorities to serve as the road map for your business. Now, as we stand at the crossroads of vision and implementation, it's time to translate those priorities into action.

The content of this Newsletter serves as your guide on this crucial leg of the journey, where we'll delve into the essential process of developing a Strategic Action Plan. The plan that will not only bring your strategic priorities to life, but also ensure you stay on course and reach your desired destination.

So, let's fasten our seat belts and begin this transformative voyage into the world of action planning.

Before developing an Action Plan, it's essential to employ the "Be, Do, Have" formula, a concept frequently utilized in personal development, goal setting, and business growth. The purpose is to align your internal qualities and external actions with your desired outcomes. In that way, you can increase your chances of achieving your goals. The "Be, Do, Have" formula emphasizes the idea that in order to achieve certain outcomes or "have" specific things, you must first focus on who you need to "be" and what you need to "do" to make those goals a reality. Here's an explanation of the formula:

Be: This refers to your identity or character. It's about defining the qualities, values, mindset, and beliefs you need to embody to achieve your goals. It's asking yourself, "Who do I need to become to achieve what I want?" For example, if your goal is to become a successful entrepreneur, you might need to "be" confident, resilient, resourceful, and innovative.

Do: This step involves the actions or behaviours you need to take. It's about outlining the specific tasks, activities, and strategies you must undertake to move toward your goals. It's asking, "What do I need to do to achieve my desired outcomes?" In the entrepreneurial context, an example could be the tasks in your Marketing Process.

Have: "Have" represents the outcomes or results you want to achieve. These are the tangible or intangible things you aim to possess once you've followed the "Be" and "Do" steps. It's answering the question, "What will I have as a result of who I've become and what I've done?" In entrepreneurship, this could mean having a successful business, financial stability and a loyal customer base. This ‘Have’ must be fully aligned with your vision. It is important to introduce this formula before action planning, as it emphasizes the fact that change and success start with your identity, beliefs, and actions. By intentionally focusing on who you need to be and what you need to do, you can create the conditions to achieve the outcomes or "have" the results you desire for your business.

Developing an Action Plan

An Action Plan is your road-map, a detailed guide, essentially the heart of your strategy. It's a comprehensive list of tasks and steps you need to complete to reach your business goals. Think of it as the tactical companion to your strategic priorities. But why is it so important?

• Providing Clear Direction: When you have an action plan, you're not wandering aimlessly. It lays out the path, ensuring everyone knows where they're headed.
• Tracking Progress: Your Action Plan serves as your progress tracker. As you tick off completed tasks, you gain a real-time view of how close you are to your objectives.
• Sustaining Motivation: Imagine this Plan as your cheerleader. It keeps you motivated and dedicated throughout your journey. Every task you check off is a small victory.
• Prioritizing Effectively: With an Action Plan, you understand which tasks need to be at the top of your list. It's a hierarchy of actions that guides you on what's most important.
• Turning Vision into Reality: Your Action Plan is the bridge that transforms your grand vision into reality. It translates ideas into practical, doable steps.

Developing a comprehensive Action Plan involves several steps to ensure that your goals are well-defined and achievable. Here is a guide to creating an effective action plan:

1. Start with Your Strategic Priorities: Ensure that you and your team have a clear understanding of your strategic priorities. These are the overarching goals that align with your long-term vision and mission.
2. Revisit Your Key Initiatives: Choose one key project to start working on. This should be directly tied to your strategic priorities.
3. The BE x DO = HAVE Formula: Determine the qualities you and your team need to embody. This includes attitudes such as confidence, decisiveness, persistence, commitment, focus and motivation.
4. Defining Action Steps: What actions are required? This is the detailed phase in which you outline the specific steps required. Here, you identify potential risks, obstacles, or challenges that could impede your progress and formulate contingency plans or strategies to address and mitigate these risks.
5. Routine Development: Sometimes, achieving your goals involves developing new routines to support your journey. Determine which of the steps need to be part of a routine.
6. Task Prioritization: Decide which tasks should take precedence. Some tasks may be interdependent, while others might require certain actions before they can be initiated.
7. Setting Deadlines: Assign timelines for task completion. This adds urgency to your plan, ensuring tasks are completed within a reasonable time frame.
8. Milestones: Milestones are essential markers in your journey. They signify significant progress points toward your goal.
9. Resource Identification: For each step, figure out what resources you need—whether that's human, financial, or technological. It may also involve the development of specific skills or the acquisition of particular knowledge.
10. Monitoring and Measurement: Determine how you'll track progress and measure success. It's important to have indicators to ensure that you are on the right path.

With these steps, you're well-prepared to create a dynamic Action Plan that will propel your business towards the achievement of its strategic priorities and, ultimately, your long-term vision. Remember, this plan is your tactical companion, guiding you through the path of success. It is the heart of your strategy, providing clear direction, tracking progress, sustaining motivation, prioritizing tasks, and, most importantly, transforming your vision into reality. It bridges the gap between the grand ideas and practical, doable steps.

So, what are you waiting for? Let's turn these plans into actions and your vision into reality.

Quote of the week - “Always plan ahead. It wasn’t raining when Noah built the ark.” ~ Richard Cushing

The above article is part of the Make Growth Happen Series which is tailored to help business owners take a more Holistic Approach to Business Growth.

Janice is a Certified Business Coach whose extensive knowledge and experience in various aspects of business has set her on a mission to help business leaders turn their Vision into Reality. She works with them to develop the right strategies, structure and skills needed to take their business to the next level. She is the Author of The Ten Commandments of Crisis Management. Janice also works with Christian business owners who desire to run their business based on Biblical Principles.

For full bio and coaching inquiries, go to https://www.way2betterbusiness.com