While a business plan helps you start and gives you your blueprint to success and other vomit inducing phrases, a strategic plan comes into play later down the road.
Phrases like strategic planning sound way more complicated than they need too. It’s another one of those names that businessmen give simple ideas to make them seem more mystical and unattainable.
A better name would be Future plans in a perfect world. Yes, much longer and not as elegant sounding, but it’s the truth.
Strategic plans can convey a false sense of security. You need to realize that it’s not a safety net, it’s a compass. Depending on your goals you could make one of two types of business plans.
1. The Rabbit
If you’re trying to build your business up quickly, and then sell it so you can move onto your next opportunity then this is the plan for you.
Your strategy would rely heavily on how quickly you can get started. This is all about speed and attaining your goals in the quickest way possible.
The problem with this kind of plan is that if you lose momentum then your business could suffer, so you have to decide if it’s worth the risk.
2. The Turtle
In this plan you’re more focused on the long game. You can set small attainable goals while continuing down the path of success. This allows you to pace yourself and build your business up slowly and steadily
The only problem with this method is that if you go too slow then you risk not gaining any momentum.
If you’re willing to wait a little longer for your company to grow and flourish then this is the plan for you.
These are just two options and depending on the needs of your company you will most likely end up with a strategic plan that is a blend of these two strategies.