R504: Strategic Planning for Small Business
The How of Business - How to start, run, grow and exit a small business.
Henry Lopez, Levante Business Group
4.7 • 522 Ratings
🗓️ 11 December 2024
⏱️ 28 minutes
🧾️ Download transcript
Summary
How to create a Strategic Plan for your small business. Use a Strategic Plan to set your goals, objectives and initiatives for your small business.
Show Notes Page: https://www.thehowofbusiness.com/r504-strategic-planning/
In this episode of The How of Business, host Henry Lopez dives into annual strategic planning - a critical tool for small business owners to achieve growth and long-term success.
Strategic planning helps you align your goals, allocate resources efficiently, and create a clear action plan for the year ahead.
Here's what you'll learn in this episode:
- Why Strategic Planning Matters: Understand the benefits of having a focused and adaptable strategy for your business.
- The Key Difference Between Strategy & Planning: Learn how a clear strategy drives your planning process and positions your business to win in the market.
- 10 Steps to Build an Effective Strategic Plan: A comprehensive framework covering everything from reviewing the past year to setting goals, defining KPIs, budgeting, and adapting quarterly.
- Actionable Insights & Examples: Get practical tips to simplify your planning process, even if this is your first attempt at creating a strategic plan.
Free Resource: Download the Annual Strategic Plan Outline to guide you through the process from the Show Notes page for this episode.
Whether you're an experienced business owner or just starting, this episode will help you focus on what matters most, measure your progress, and achieve success in 2025.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run and grow your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com
Transcript
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| 0:00.0 | Welcome to the how of business with your host, Henry Lopez, the podcast that helps you start, |
| 0:06.0 | run, and grow your small business. And now, here is your host. |
| 0:11.6 | Welcome to the how a business podcast. This is Henry Lopez, and this episode is about annual |
| 0:16.6 | strategic planning, why you should create a strategic plan at the beginning of the year and how to do so. |
| 0:22.9 | I'll share some best practices and tips and walk you through the high level steps to create |
| 0:27.7 | your strategic plan, giving you a clear strategy and an action plan to help you achieve |
| 0:32.8 | continued success with your business this year. To get more information about the Hawa |
| 0:36.6 | business, including the show notes page for this episode, and learn more about my one-on-one coaching |
| 0:41.6 | and group coaching programs, please visit the howabusiness.com. I also encourage you to |
| 0:46.5 | please subscribe to my show, wherever you might be listening, so you don't miss any new episodes. |
| 0:51.4 | Also, I want to take a moment to thank a few of my recent coaching clients, |
| 0:54.9 | including John, Rich, and Tracy. Thanks for allowing me the opportunity to help you start and |
| 1:00.3 | grow your small businesses. There is a free download that you can get at the show notes page |
| 1:05.6 | for this episode at the how it business.com called Annual Strategic Plan Outline. I created that outline for you to use |
| 1:12.7 | to help you create your plan. It's got 10 high-level steps to creating your plan. And so I encourage |
| 1:20.4 | you to download that once you get back to your computer or where you get ready to finalize or |
| 1:25.2 | create your plan for the year. Why do we need a plan? Let's start |
| 1:28.9 | with that question. I think for any of us who have accomplished great things in life, no matter |
| 1:34.3 | what aspect of your life, you know that having set goals or a plan, something that we write down |
| 1:40.0 | allows us to focus, keeps it top of mind, and allows us to plan for how we're going to get there |
| 1:46.3 | a step at a time. And so what I have found in my businesses and other businesses that I've had |
| 1:50.7 | the privilege of working with and what I know about other successful businesses is that this |
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