“A goal without a plan is just a wish” – Antoine de Saint-Exupéry
Planning should take precedence over goal-setting, however, this is not the case for most businesses. Usually, creating a business goal is a priority over actually planning to execute said goal when in fact, it should be the opposite. When making a plan, you should have a framework that would help prepare you for next year’s business challenges.
How Can you Make an Effective Strategic Plan?
First and foremost, you’ll want to get a good grasp on how well your business performed this past year. Review programs or projects that didn’t work and what were the learnings you found. Also, evaluate effective programs or projects and implement them again this year.
Moreover, identify your weaknesses and opportunities through a tried and tested SWOT analysis. A SWOT analysis is a basic planning technique that will determine your business’ internal strengths and weaknesses and external threats and opportunities. Another helpful factor is if you observe your competitors’ movements. This will help you determine the next steps moving forward.
Also, remember to review who your target market is and if your brand adds value to their lives. Identify their buying behavior so you can make a strategy to further meet their needs.
Once you’ve reviewed the performance of your business, it’s time to outline the objectives and goals for the coming year.
After that, make a brief plan that is actionable to your objectives. Be realistic as possible so as to not make your workers feel like you’re asking them to shoot for the moon. Delegate specific tasks to your team and then equip them with the tools they will need to execute your plan.
Lastly, use reasonable metrics such as timelines and targets for you and your team to get your objectives accomplished until the next planning period.
How Outsourcing Comes In
When customer care is identified as a weakness during your performance review, now’s the time to make outsourcing as a business strategy. By bringing in an outsourced customer service staff, you can cut on expenses. The cost to savings comes not just from the lower cost of living but also from the lower cost of office space, equipment, and maintenance. In return, this will save money that can be allocated to other objectives in your strategic plan. With outsourcing, you can rest easy because your target customers will be satisfied with the immense experience your outsourced staff will bring. Outsourcing will also help you balance the workload and increase the efficiency of your in-house team.
However, according to Forbes, outsourcing can bring you more than just cost-cutting. 85% of companies that outsourced capabilities created real sustained business growth. To serve as an inspiration, companies such as General Electric and Costco, who embraced capabilities outsourcing are changing the game in their respective industries. Talent outsourcing is the next big thing hence, this is the time to include outsourcing in your business strategy.
Having an invaluable outsourcing partner will help you achieve the goals that you’ve planned. If choosing to outsource is not yet included in your strategic plan for 2020, you might be missing out on your business’s best year yet. Get started with Telework PH today.