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Here’s why it’s important: if your employees can’t clearly and concisely articulate your business to others, you inevitably miss out on tons of sales and other opportunities.Section 3: Company Mission Statement Your company mission statement explains what your business is trying to achieve. You see, for internal decision-making, your mission statement guides employees to make the right decisions; decisions that are in line with helping the company achieve its mission.However, you should conduct an analysis to ensure the market size is growing (if not, you might want to diversify), and to help identify new opportunities for growth.
The Executive Summary is important since it will help other key constituents, such as employees, advisors, and investors, quickly understand and support your plan.They key is to first identify your 5 year or long-term goals.Next, identify your one-year goals; that is, what you must achieve in the next year for it to be successful and to put your company on the right trajectory to achieving your 5 year goals.For example, a basic KPI such as Total Sales is critical for understanding if the company is performing well. For example, if sales are affected by 1) number of visitors to your website, 2) number of visitors who complete a contact form, 3) number of proposals you issue to these leads, and 4) the proposal closing ratio, then each of these KPIs should be tracked.Then, if for instance, the number of visitors to your website decreased, you would know and fix this immediately, rather then waiting until sales plummet later.Section 11: Team The team section of your strategic plan ensures you have the human resources to execute on the opportunities you’ve identified and to achieve the goals you established in section 5 of your plan.Here you should list your current team members and identify the types of people you need to hire in the next year to achieve your goals.Section 2: Elevator Pitch An elevator pitch is a brief description of your business.Your elevator pitch is included in your strategic plan since it’s key to your business’ success, and often times should be updated annually.Also, once you determine the opportunities you will pursue, your financial projections will map out the goals.For example, you’ll know exactly how many new customers you must attract in the next month, and at what price point, to achieve next month’s goal.