It has been frequently noticed that companies do not pay enough attention to strategic planning. Taking into account that we have gone through a difficult year, we must be much more cautious and think rigorously about the way forward. One of the main challenges will be to satisfactorily address our company’s strategy. What aspects should we take into account? Where to start? Below we will mention some points that will help you in the development of the plan.
-Evolution of sales: the first thing that corresponds is to look in great detail at the sales achieved, comparing the numbers with the projected ones. Were the goals met? What was decisive in the achievement of objectives?
– Loans: during the period of the pandemic, many companies took on loans to cover a series of expenses. How did you start 2021? How do you organize yourself to cover pending expenses?
-Income: What channels did you use to generate income? Do you have a sales force or a marketing plan? It is important to review the channels which are responsible for generating income in order to know what to maintain or avoid during the next year.
-Opportunities: we must identify the services or products that are planned to be sold or that are already confirmed to know exactly the margin of insured sales (we call this backlog). It is also important to review what other opportunities can be generated with current clients.
-Market and competition: having a clear reading of the environment will help to better centralize the actions to be carried out. Decisions are often made without sufficient information and this damages the results.
-Business model: based on all the information you have analyzed, it is important to look at the business model and see if it needs to be completely modified or transformed.
-Strategic knowledge: when you develop your route of action, think about the skills and knowledge that you will need to develop your plan. Do you count on it? What people or roles are crucial for success? Should we invest in acquiring knowledge to adequately face the challenges?
-Digital transformation: A strategic plan must also take into account the technological capabilities of the company. Faced with an increasingly digital environment, we must ask ourselves if we have the technological tools that will help us face the incoming challenges.
-Metrics: establish metrics to correctly identify your progress over time. It is important that all the goals you set can be measured with proper frequency. Financial metrics are generally considered a priority, but you should think about the essential elements that will allow you to track the overall health status of your company.
-Establish priorities: an important point in the development of a strategic plan is to focus on activities that will genuinely add value (which are feasible and achievable according to the reality of the organization).