Every company needs a plan to succeed!
Every successful company has a plan and knows where it is going in the future. Taking the time to review the company’s past performance and predict its future performance provides a roadmap to follow. Below are impactful reasons to create a company wide strategic plan.
1) Gives a sense of direction to all teams
2) Competitive advantage in the market
3) Innovation
4) Make the company proactive by nature
5) Increases productivity and operational efficiency
6) Higher sales and profits
7) Keeps employees motivated
8) Attracts financial investors
9) Minimizes risk
10) Transparency
For a business to grow and expand its operations, it is crucial to understand the importance and implement Strategic Planning within the company.
Planning the future of your business is the best way to ensure success. It may seem strange and difficult at first, but with practice, you can move your business in the right direction.
Article by: Rakesh Parikh
Rakesh is a Managing Director and founding member of Pivot Capital LLC. As a registered certified public accountant, he’s spent the past 20 years in private practice as the founder of One Capital Financial Advisors, Inc. advising clients in accounting and financial services including audits, reviews, compilations, valuations, tax advice and LLCS corporate preparation. His work also includes mergers and acquisition advisor, certified exit planning advisor to small business and family partnerships as well as due diligence in buyer-side target acquisitions.