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To properly gather necessary information, all members of team must be willing to ask hard questions and be prepared to hear a variety of answers in an effort to seek out best solutions.

Planning

This can be a tedious task. All information initially gathered is now carefully reviewed and analyzed. Analysis of data can be a time consuming effort, and some executives may be tempted to rush through this weighty task. Investing time, however, can pay rich dividends, as exemplified by Thomas Alva Edison. Everyone knows Edison created light bulb, but hardly anyone realizes that he carefully considered 5,000 failed experiments before actually beginning his own experiments. To begin planning stage, consider your vision statement. Does it match vision you had when you first began company? If not, how has it changed, and what direction does it take you now? Look at major issues and potential problems revealed during gathering information stage, then develop an achievable action plan point by point. Finally, think carefully about your market, developing specific steps that will help give your company competitive, winning advantage.

Each team member must be willing to act decisively in order to push things forward. The enthusiasm and determination of team must not wane in coming months as unexpected obstacles and delays occur. Plans will need adjusted in order to meet agreed upon objectives.

Implementation

Implementing plan successfully requires effective communication on all levels within company. Take time to pinpoint specific methods of communication and feedback. Strategic plans are fluid documents, subject to constant change and analysis. Arrange specific times for ongoing review and updates. Finally, identify which individuals will be responsible for specific projects developed within strategic plan. Planning is an investment in time and effort. Many CEOs, presidents or business owners may be tempted to skip over it, claiming they’re too busy and can’t find time. Those truly interested in all success they imagined when business first began will resist this temptation. These executives will sow seeds of business success, cultivating a prosperous future when they can ultimately harvest all riches imaginable.