Strategic planning

Amongst the competing demands of working life, strategic planning can slip down the list of priorities. When you are striving to balance the important against the urgent, how can you make sure the time you invest in strategising it is well spent? WMT’s business consultants help you create focus and drive to map out your strategy and kick-start its implementation.

Setting your strategy is the key to answering questions such as:

• Where will future growth come from?
• Which markets should we focus on?
• What people and skills do we need?
• Can we achieve our plans organically or should we acquire another business?
• Who will run the business when I (or we) no longer want to?

The benefits of having a clear business strategy are well known, but the process of creating the plan is where the hidden value lies.

An effective strategic planning process

Stepping back and taking time out of the business to agree a way forward with your management team means you can all move ahead together – each understanding the role they will play and how they can support each other. Asking an independent guide to facilitate your discussions allows everyone to participate in the process equally. A guide will also explore the different views and opinions in the team, using them to enrich the strategy without derailing the discussion.

Strategy development involves collecting and analysing data on clients or customers, competitors, your marketplace, financial performance and the opportunities. Getting an impartial view on what this information means for your business brings new insights and ideas to the team.

Pace is important too. Building your business strategy too quickly or too slowly can reduce your team’s commitment to the plan and the enthusiasm to implement it. A skilled advisor will manage the pace for the team, making sure they take the time to get the fundamentals right and accelerating the process when a burst of energy is needed.

How WMT helps

Whether you are just starting to work on your business strategy, or have made headway but come to a sticking point, WMT’s business advisors will work with you and your management team to:

Define your goals and aspirations for the business and as a management team.   

Assess your current position and review your strategic options to agree a course of action.

Capture the strategic plan in a way that makes it a useful guide for future decision making.

Maintain the momentum while you are developing your strategy and once you move to the implementation phase.

Stay on track – through regular calls, meetings, or management board discussions, we help you overcome barriers and keep the momentum going.

Get in touch with our business consultants to find out more about how they can help you with your strategic planning.