Strategic Planning For Future Business Success

Strategic planning is a collaborative, team-led effort to lay out a long-term plan on how to grow your business. It helps define the future you want for your company, which will inform the goals, tactics and metrics you set. While strategic planning for business is a largely data-driven process, it’s also a creative opportunity to bring your team together in a goal-oriented, problem-solving setting where no ideas are bad ideas. Here are some strategic planning tips that can help you set up your business for a successful new year.

Strategic Planning For Business: The Process

To help guide your strategic planning process, consider the following these three overarching steps: 

• Diagnose: The most important thing to do is diagnose the current state of your business. Look at your direct impact in your local industry, and define what you should be measuring. This is the perfect time to brainstorm where you want to take your business within the next year. Once all the ideas are laid out, take time to narrow them down to five main goals to consider for the upcoming year. Lay these goals out in clear, definable statements that include specific measurements, such as benchmarks and end dates.
   

• Develop: Once your goals are defined, it’s time to create a data-driven storyline that links these goals together. This story should be informed by current results and show how you’re planning to grow throughout the year. Focus on defining your return on investment (ROI), which can help investors understand your vision. Once the goals are tied, delegate a team to be responsible for defining the objectives that will help bring your business goals to fruition. This will draw your team together and give them a sense of leadership and ownership over the process for meeting these goals.
   

• Evolve: Finally, lay out how future investments in your business will help achieve the strategic goals your team has laid out. This will help strengthen your business case, especially in a dynamic and shifting market. 

How High Point Can Support Your Business

If you’re looking for a place in High Point to bring your team together for both strategic planning and work execution, Congdon Yards is the place. Some of the benefits of working with Congdon Yards include:

• Workspace Access: Congdon Yards has workspaces that are perfect for highly collaborative and productive teams. Our meeting spaces are equipped with high-tech audio and visual capabilities that enhance strategy meetings and events of all sizes. 
• The Generator: If you’re a small-scale manufacturer, designer or maker, one of the hardest parts of getting off the ground is access to high-quality and industrial-grade materials. Fortunately, The Generator is a first-of-its-kind innovation hub that provides easy access to services and production support. 
• THRIVE HP 2.0: Started by the High Point Chamber of Commerce, THRIVE HP 2.0 is a series of programs and services tailored for entrepreneurs and small business owners. Through this initiative, you can receive business mentoring, financing assistance and unique opportunities to gain the skills and resources needed to survive, grow and scale your business.

Plan For Success At Congdon Yards

Located in the fully renovated, reborn and transformed Factory and Plant 7 buildings, Congdon Yards, spearheaded by the Business High Point Chamber of Commerce, was built by and for the people. From entrepreneurs building their home base to innovators prototyping new products, Congdon Yards is the ideal place to create and celebrate in High Point. Contact us today to schedule a tour.