Exit Preparation 2. Strategic Planning - the key to everything.

I’ll say it before you need to. Strategic Planning – what does that even mean? It sounds like something over-priced consultants try and con you into, right? Well, actually, not so much. The truth is, the process can be made wildly complicated and it’s true, once people get their claws into this, it can cost you a fortune.

On the bright side, you’ll get lots of very attractive graphs and charts and if you pay enough, maybe even some word clouds and a pictogram.

But, I’m guessing that you might engage with Strategic Planning if it could be demonstrated to you that with a light touch, it can make a profound difference. Further, I’m guessing that you might be surprised to know that with only a little support, you can do most of it yourself, because it draws deeply on what you already know. It might be things you know consciously and it might draw on things that you know without your even knowing you know it.

That’s why the first module in the SME Exit Preparation Programme is all about this. The objective is to de-mystify that which doesn’t need to be mysterious. Dig in and have a look.

If you’ll excuse a metaphor, embarking on a journey to sell your business is akin to setting sail in the unpredictable waters of the Hauraki Gulf. Strategic planning is your compass and chart. It's what distinguishes a well-navigated voyage from a drift.

For SME owners in New Zealand, understanding the first module of strategic business planning is like learning the haka before a big match – it primes you, focuses your energy, and aligns your team. Let’s break down this critical preparation phase into digestible bits, ensuring you’re ready to take on the challenge.

Understanding the Terrain

The Why of Strategic Business Planning The inaugural week of our programme delves into the crux of strategic business planning. Just as Aotearoa's landscapes are diverse, from the rolling hills of Waikato to the rugged Fiordland coasts, so too are the business environments SME owners operate within.

This module isn't about setting arbitrary targets; it's about comprehensively understanding your business terrain, identifying your unique competitive advantages, and crafting actionable plans that steer your company towards its long-term aspirations.

Your Compass - The SWOT Analysis

Embarking on this journey, SWOT analysis stands as your compass. By identifying your business's Strengths, Weaknesses, Opportunities, and Threats, you gain a panoramic view of your internal capabilities and the external market conditions.

This foundational tool is like reading the currents and winds before setting sail – it informs your strategic decisions, ensuring they're grounded in reality and foresight.

Mapping Your Route - The Business Model Canvas

The Business Model Canvas is essentially your map, detailing the various components of your enterprise in a visual chart. It outlines your value proposition, customer segments, key activities, and financial structures, offering a holistic view of how your business operates.

This tool encourages SME owners to scrutinise what their company does, who it serves, and how it remains sustainable. It's akin to plotting your journey across New Zealand, from Cape Reinga down to Stewart Island, ensuring you know all the stops and highlights along the way.

Setting Milestones - SMART Goals

Any seasoned tramper knows the importance of setting achievable goals. In business planning, SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals are your milestones.

They transform lofty aspirations into tangible objectives, ensuring your business’s journey is marked with clear, achievable waypoints.

This process is about breaking down your grand vision into manageable, measurable steps, making the path to success less daunting and more navigable.

The Winds of Change

Adaptability and Continuous Improvement

In Aotearoa’s fast-evolving business environment, adaptability isn't just advantageous – it's essential. This module emphasises the importance of being prepared to pivot your strategies in response to new market insights, technological advancements, and changes in consumer behaviour.

It’s about ensuring your business is as resilient and adaptable as the kiwi, capable of thriving in varied environments.

Cultivating the Strategic Mindset

The heart of this module is about fostering a strategic mindset among SME owners. It’s about seeing beyond the day-to-day operations to the broader horizon, making informed decisions that secure your business’s future.

By the end of this week, participants are equipped with a strategic framework that empowers them to navigate the complexities of the business world with confidence, much like the Māori navigators who expertly traversed the Pacific using the stars and sea.

Reflections and Next Steps

Strategic Business Planning is the first step on a journey of growth and self-discovery for SME owners. It’s about laying a foundation that’s strong yet flexible, allowing your business to adapt and grow in an ever-changing landscape.

This preparation phase is crucial; it shapes your approach to the challenges ahead, ensuring you’re not just reacting to changes but anticipating them, staying two steps ahead of the competition.

As you embark on this journey, remember, the value of preparation cannot be overstated. It's the difference between a business that survives and one that thrives. It's about investing the time now to reap the rewards later, ensuring your business is positioned for success, ready to meet the future with confidence.

In essence, strategic business planning is more than a module in a programme – it's a philosophy, a way of approaching your business that ensures longevity, sustainability, and success. For Kiwi SME owners, it’s your guide through the complex terrain of the business world, ensuring you can navigate whatever lies ahead with assurance and agility.

By embracing these principles and dedicating yourself to the process, you'll not only set your business on a path to success but also embark on a personal journey of growth and development. So, take up the challenge, equip yourself with these strategic tools, and prepare to lead your business into a prosperous future.

This in-depth look at the "Strategic Business Planning" module aims to demystify the process and highlight the critical importance of preparation. By equipping yourself with the right knowledge and tools, you're not just planning for success; you're setting the stage for a thriving business that can withstand the tests of time and change, reflecting the resilient spirit of Aotearoa.

Just a reminder. If you are even considering selling your business, I encourage you to have a closer look at the RHQ SME Exit Preparation Programme. It’s six weeks of your life that could make a profound difference and remember, you can do it all without needing to take your attention away from either your business or your family and I will be on-hand to help with whatever you need.

Click [here] for a summary of what the programme is about.