Strategic planning steps

Try this three-step process to create a successful strategic plan:

1. Define your long-term goals and vision. This includes products and services you expect to deliver to clients, the financial status you hope to realize, how you intend to involve employees, etc. It also helps to identify or know ideal prospects or clients.

2. Know the industry. Identify the most powerful external trends that will affect your business and your goals whether favorably or unfavorably.

3. Plan - and expect the unexpected. Formulate strategies that can help you reach your goals under the conditions you anticipate. Include several "Plan B" options for those circumstances beyond the scope of your best-laid plan.

It will probably take two or three cycles through the goals, trends, and strategies until it all fits together and you can see the way ahead clearly. When that happens, you'll have a strategic plan.