Section 6: Key Performance Indicators (KPIs) Great businesses understand their metrics and KPIs.
By tracking your KPIs, you know exactly how your business is performing and can adjust as needed.
Finally, you’ll map out each of your initiatives, ideally in a Gantt chart, so you know when each project will start and who will lead them.
Section 13: Financial Projections The final section of your strategic plan is your financial projections. First, you can use a financial model to assess the potential results for each opportunity you consider pursuing.
For example, a basic KPI such as Total Sales is critical for understanding if the company is performing well. For example, if sales are affected by 1) number of visitors to your website, 2) number of visitors who complete a contact form, 3) number of proposals you issue to these leads, and 4) the proposal closing ratio, then each of these KPIs should be tracked.
Then, if for instance, the number of visitors to your website decreased, you would know and fix this immediately, rather then waiting until sales plummet later.Also, once you determine the opportunities you will pursue, your financial projections will map out the goals.For example, you’ll know exactly how many new customers you must attract in the next month, and at what price point, to achieve next month’s goal.It also helps you identify which strengths you must develop in the near future to improve your company.Section 5: Goals Setting and achieving goals is the hallmark of successful companies and is a critical element of your strategic plan.Section 11: Team The team section of your strategic plan ensures you have the human resources to execute on the opportunities you’ve identified and to achieve the goals you established in section 5 of your plan.Here you should list your current team members and identify the types of people you need to hire in the next year to achieve your goals.A strategic plan is a roadmap to grow your business.To help you succeed, use this proven strategic plan template, and the information below details the 13 key sections you must include in your strategic plan.However, you should conduct an analysis to ensure the market size is growing (if not, you might want to diversify), and to help identify new opportunities for growth.Section 9: Competitive Analysis & Advantage Similarly to your industry analysis, your competitive analysis doesn’t have to be a thorough report listing every detail about every competitor.