June 17, 2020 | Read Time: 1 Minute
COVID-19 has tested every facet of small businesses - employees were told to work from home, storefronts closed, and business owners lost income and the ability to stay connected with their customers. Even the best strategic plans for 2020 did not account for all of these changes happening overnight. What could you possibly have done to plan for this?
If you were a small business owner who did a strategic plan, did you write it pre-COVID or after? Most would say before. Most small business owners have heard the endless benefits to strategic planning, but few actually take the steps to “pen” one even though they hold a vital role for the growth and success of their business. Strategic plans document where you are and where you want to go, they lay out goals and action plans to get from here to there and can be changed if unexpected disruptions happen.
If you did a plan, the good news is that many of those strategic goals are still relevant – your long-term goals likely have not changed. Where you wanted to be in 5-10 years hasn’t changed, and ultimately having those long-term goals dialed in may be the one thing that stays consistent for you – and could even be a beacon guiding your path at this point.
And if you didn’t do a plan? Take this opportunity to completely rethink how your organization thinks long term. Develop your short and midterm strategies and tactics with your team, recognize new work environment realities, and increase your comfortability with technology. Use what literally changed overnight to be your beacon for your next 3-5 years.
A well-written strategic plan can play a vital role in your small business’s growth and success; it guides your team on how to respond to opportunities and challenges – even worldwide pandemics. Contact Huberty today - we can help you write your strategic plan or help you update what you already have.