With that in mind, we spent a few hours this morning outlining our strategic plan for the coming year. It's only a first draft, but I don't think it'll change much:
I'm a planner by nature but I think the trick for (small) companies is to NOT over-plan, instead keeping plans simple, top of mind, executable and real (adjusting if necessary based on new learning).
This one-page format is a good way to distill the essence of a plan into something readily digestible by key stake-holders (us included!). This is probably as far as a small, embroyonic start-up should go.
Next we'll develop some simple monthly projections for 2010, reflecting the plan above, to get a handle on possible cash flows, and that should be it for planning for now...
At the risk of sounding like a nerd, it's exciting to have a clear, concise plan in place before diving into the new year! We couldn't imagine doing this without one, that's for sure.
Resource tip: entrepreneurs interested in learning more about 1-page strategic plans might like to read this blog post.
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