Checklist For Starting a New Business - Steps to Starting a Small Business - Step 3 Strategic Plan

There are 12 steps to starting a small business. Next on the checklist for starting a new business is step 3 Strategic Plan. Let's cover the basic points to a great Strategic Plan.

1. Mission Statement - An example of a good mission statement should come from the heart. It should be the reason, the cause that gets you up in the morning. An example of a good mission statement is the difference between a job and a passion. More importantly, it should be the reason and cause for everyone in the company. This statement is extremely important to your company because it is the life blood of the business! It is what makes the company breathe everyday. Check out Acaydia.com for an example of a good mission statement.

2. Vision Summary - One of the best parts of my business is the allowance I give myself to daydream the possibilities of what my company will become. Take a step back and look at your company in the future and describe in detail what it will look like. Sometimes its necessary to daydream at home...on the coach, in the living room, with some popcorn, and a drink...and maybe some candy m&ms... maybe in front of the Flat Screen HDTV, and if a Denver Broncos game happens to be on and everyone needs to get out of the room, then so be it because Daddy's Vision Summary is important and he needs a few hours to concentrate!

3. Business Succession Plan - Not very many entrepreneurs think this one through. You need to think of your business as an investment, and what is investment rule number 1? "Know your exit before you enter." A business succession plan is your exit strategy. Decide what happens to the business AFTER you.

4. Company Focus - There is a must read business book called Good to Great. Brilliant book written by Jim Collins. The author talks about great companies having a Hedgehog Concept. He describes a company's hedgehog concept as the one thing that they do exceptionally well every time. Your Company Focus is similar to this concept. Your Company Focus is the 'it' factor. It is the secret code of your business that propels your sales.

5. Goals - Once you've established your Company Focus, you can begin to derive goals. Believe in setting goals and then being accountable to them. We must have goals to drive the company. Goals keep you growing. Determine your end goals, and then break them down into milestones.

6. Accountability - You need accountability for results. Accountability is the discipline of getting things done. Getting things done means people meeting commitments. It is a specific set of behaviors and techniques that you need to master, and should be at the heart of your company culture. Be the company that gets it done! And now this article is done. Out.

Kevin Y. Moody, CFP® is a Business Coach with Stasis, Inc. We show our clients how to build their business into a machine that runs on its own, getting the predictable results needed to get the freedom and security they deserve. CLICK HERE and let's START building your business machine NOW.

Article Source: http://EzineArticles.com/?expert=Kevin_Moody