Business Planning

Fundamentals of Running a Business

by necoaching necoaching No Comments

Quite often organizations either spend an inordinate amount of time on strategic planning or absolutely none at all. Which is correct? Inevitably the answer lies somewhere in between. However you choose to proceed, there are some fundamentals that must always be considered; then put the energy into ensuring execution. So what are these fundamentals?

1. Articulate the Vision

What is the desired destination? Start off with the end in mind by creating a goal or intended outcome. This may seem difficult and full of unknowns but give it your best guess; you must commit.

2. Identify Key Strategic Initiatives

List the primary drivers of the business that will allow you reach this destination. This requires some honest debate, consensus and then loyalty once agreement is reached. Read more