A Strategic Planning Checklist

by Jack Evans

Successful businesses are the result of planning, execution and follow-through. They are not simply "lucky" operations or a "build-it-and-they-will-come" dream story.

Strategic planning is a proactive, organized approach to building and managing a business. Too many HHC providers started delivering oxygen out of a car trunk and still run their businesses in response to their market and customers. Businesses that continue to react to daily issues cannot take the initiative necessary to become market leaders.

Following are several vital steps to formulating a successful strategic plan. Consider these as components in a blueprint or plays in game. Each step builds upon the other and the final result is a winning master plan.

Proactive Strategic Planning

Strategic planning consists of several steps that when followed in order develop into an on-going, self-correcting and self-directing process.

• Assess the market.
• Create a strategic plan.
• Define a mission statement.
• Set goals & objectives.
• Implement a marketing plan.
• Set a budget for to achieve this plan.
• Re-evaluate periodically.

Assess the Market

Sit down and brainstorm with all of your employees. You will find that your front-line employees offer real insight into your customer's needs and wants. Answer the following questions to understand the distinctions between your current and future markets, products and customers.

• Who is your company?
• What are your markets?
• Who are your customers?
• What are your competitor's strengths and weaknesses?
• What are your potential markets and customers?
• How do you get there?
• How much will it cost?
• Why will customers continue to buy from you?

Create a Strategic Plan

Once you understand your market and customers, then you can create a blueprint to capture as much market share as possible. Here is an outline:

• Define Mission Statement
• Set Corporate Goals & Objectives
• Identify Core Markets & Customers
• Identify Core Products & Services
• Create Marketing Plan
• Develop Financial Plan
• Conduct Periodic Evaluation

Define a Mission Statement

Your mission statement is both a map and a culture. First you verbalize why you do what you do, then you strategize how to do it even better!

• State your philosophy.
• Identify your core values (i.e., integrity, profit, customer-driven).
• Define your uniqueness.
• Market this difference.
• Walk the walk.

Set Goals & Objectives

Brilliant ideas are worthless without focus or direction. By understanding how to achieve your goals, you have given your employees a road map to finding and conquering new markets and customers.

• Assess current and future potential of markets and niches.
• Evaluate market share and sales in relation to above.
• Focus on specific actions: how to identify, create, develop, achieve, establish, expand and maximize.
• Define short-term & long-term.
• Train staff, (i.e., product demo's, customer service) .
• Market to customers.

Implement a Marketing Plan

• Identify products & services.
• Outline markets, customers, distribution and pricing for each.
• Evaluate changes resulting from market pressures (i.e., shifting demographics, increased competition, new innovations).
• Evaluate in relation to sales, profits and return-on-investment.
• Develop sales tools, advertising and promotional schedule.
• Train staff to communicate & sell the above to your customers!
• Constantly search for innovative products/services that fulfil unmet needs or wants.

Set a Budget

Too often the best of plans fail because they were not funded properly. A successful marketing plan will produce the additional marginal dollars from sales to more than pay for itself.

• Estimate sales and expenses.
• Estimate advertising and promotion costs.
• Estimate resulting growth in sales and profits.
• Keep sales on track with costs.

Re-Evaluate Periodically

Any business operation must be checked and re-checked to maintain focus, momentum and desired objectives. And sometimes, new markets, products or customers become goals that were not even thought of before the plan was implemented. Market share is won by being open to change and changing direction.

• Monitor sales monthly.
• Monitor customer re-orders and retention.
• Evaluate sales in relation to trends, season, advertising, special events, etc.
• Focus on both highest ROI and future market potential.

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