Are You Hiking Without a Map? Why Your Company Needs a Strategic Plan

Think back to a time before we all had smartphones and could look up any piece of information on the fly. Not so long ago, we had to plan our trips by doing research ahead of time and using paper maps for directions. Even now, if you travel somewhere without cell service, for example, a hiking trip in the mountains, you would do well have the right tools for the journey to navigate home safely.

In the same way, navigating the business world without a clear strategy is foolish. It takes time and careful planning to set up successful initiatives like developing new products, establishing new business partnerships, and executing acquisitions. Most of us have manuals for hiring employees and using complex equipment or proprietary systems; therefore, it makes sense to follow a set of procedures when executing strategic growth plans. Why start out with no clear pathway for success?

Don’t get lost in the woods without any clear directions. Taking the time to assess your company’s strengths and weaknesses, assemble the right team, and develop a strategic plan before moving into action is critical to your success.

For more information on developing your company’s strategy, join our webinar: “7 Strategic Questions to Ask Before Pursuing M&A” on December 12.

Date: Tuesday, December 12

Time: 1:00 PM ET – 2:00 pm ET

CPE credit is available

Photo Credit: Franck Michel via Flickr CC BY 2.0