How to setup long term goals for your business

Business without a strategic plan is just like a car without a road map. Strategic planning usually starts with an initial discussion with the business owner then a strategic planning session is scheduled inviting core team members of the business owner and the business owner preferably at a location outside the office premises. This brain storming session could continue for a full day or two and a strategic plan is formed. A final plan is typed and discussed with the owner. This gives an exact road map to the owner for the strategic plan period selected. Strategic plan is usually two to five or even ten year business plan. We discuss this plan with you on a quarterly basis to make sure you are on track or if any changes required to the original plan. Every successful company has a strategic plan and these companies track their progress against that plan. For example, one of our client was doing $4 Million in sales and they decided to reduce their sales down to about $2.5 Million by cutting one product service completely which was not profitable and by doing so they double their net income.