Fail to Plan or Plan to Fail?
It is written and often repeated that businesses that fail to plan, plan to fail. It is not usually undercapitalization that brings failure to a business rather it is usually a lack of strategic planning.
Strategic planning isn’t just a business plan put together over a day or two to make a business look good. A strategic plan is a business plan that includes strategies and skill development that is necessary for your organization’s success. It is a process that involves not only determining where a company wants and needs to go, but also, how it is going to get there.
" Not having a strategic plan is like steering a boat without a rudder!"
Synergetic Resources facilitates a process for strategic planning that leverages the knowledge and talent of the organization….its people. Using this process gives the executives and employees a great gift….OWNERSHIP of the plan because they create it!
10 REASONS WHY
- Lack of knowledge of the business they are in.
- Lack of vision and purpose by principals.
- Lack of financial planning.
- Overdependence on specific individuals in the business.
- Poor market segmentation and /or strategy.
- Failure to establish and/or communicate organizational goals.
- Competition/lack of market knowledge.
- Inadequate capitalization/under funded/poor cash flow.
- Absence of a standardized quality program.
- Owner’s concentration on technical, rather than strategic work at hand.