Strategic planning might sound like something reserved for big corporations, but it’s actually essential for anyone who's self-employed, whether you're a freelancer, consultant, or small business owner. Keep reading to find out why!
What is Strategic Planning, Anyway?
Simply put, strategic planning is figuring out where you want your business to go and how you’re going to get there. In other words, striking the fine balance between the day-to-day work and the work that ensures you will reach your long-term business goals. But first, you need to know what these goals actually are.
Think of It This Way:
As far as recipes go, making a sandwich is a pretty simple one. But even when making a sandwich, there is a certain logic and action sequence you should follow (please note that this “elaborate” metaphor has been provided by someone who hates cooking - me). The same goes for your business - if you want to have particular results (goals), you need to figure out what will bring them (actions), and safeguard their fulfillment.
Why Do You Need It?
When you’re self-employed, there’s a tendency to just do the work. And that is actually great. If you weren't skilled in something, you probably wouldn't have taken the step towards independence.
Only, doing that work is not enough to have a sustainable business.
You might be jumping from project to project, putting out fires, or juggling clients. But if you’re not working toward a long-term goal, it’s easy to feel like you’re running in place.
Here’s an Example:
Let’s say you're a freelance graphic designer. You’re getting work through word of mouth and social media, which is great! But without a plan, you might find yourself constantly chasing small projects. What if your long-term goal is to work with bigger brands or even create your own design studio? Strategic planning helps you break that big dream into actionable steps.
So, What’s in a Strategic Plan?
Think of it as your business game plan. It typically covers a few key areas:
Your Vision: Where do you see your business in 2 or 5 years? This could be scaling your freelance work into a full-fledged company or growing your client base by 50%.
Your Mission: What do you do, and why? It’s your “why” that keeps you going on those tough days. Maybe you want to bring affordable design to small businesses or create a service that helps other entrepreneurs thrive.
Business Goals: Break down your vision into achievable goals. For example, “get two new clients a month,” “launch a website by Q3,” or “increase my income by 20% this year.”
Action Plan: This is where you list specific actions you'll take to reach your goals. It could be attending networking events, upping your social media game, or investing in a new tool that streamlines your workflow.
The Benefits of Strategic Planning
Clarity - It helps you get clear on what success looks like. Instead of drifting through work, you’ll have a purpose.
Focus - It cuts out the noise. With clear goals, you know exactly what deserves your attention (and what doesn’t).
Efficiency - Small, consistent actions towards your desired goal are better than random shots in the dark with questionable or no results. By planning your moves, you avoid wasting time on tasks that don’t push you toward your long-term goals.
Flexibility - I don’t know about you, but one of my main objectives in being self-employed is a sense of freedom and control over my time. You can change your plans and still serve your end goal! Having a strategy doesn’t mean it’s set in stone. You can adjust your course as new opportunities or challenges arise.
Strategic planning is the key to the freedom self-employment is all about - deciding what you want and going after it. It’s like having a guide that keeps you on track, ensuring that your hard work today leads to the big dreams you have for tomorrow. So whether you're just starting out or feeling a little lost in the hustle, take some time to zoom out, think long-term, and create a plan that helps you grow, evolve, and thrive.
After all, you’ve got the skills, passion, and drive—now it’s time to turn that into a sustainable, thriving business!
Join us!
If this article resonated with you and you're ready to dive deeper into strategic planning, don't miss our upcoming interactive webinar on September 18th at 17:00 CEST. We’ve invited Mag. Miglena Hofer to guide you through the essentials of strategic business planning, tailored specifically for self-employed professionals like yourself.
During this 90-minute session, you’ll learn how to craft vision and mission statements, align them with your business goals, and develop an actionable plan to bring your vision to life. Plus, we'll cover real-world strategies for overcoming challenges and adapting to changing market conditions.
What You’ll Learn:
How to create a powerful vision and mission for your business
Practical steps to align your vision with measurable business goals
Action planning techniques to help you prioritize tasks and track progress
Strategies for staying on track when things don’t go as planned
Plus, there's a Q&A session, so bring your questions for some personalized advice!
Details:
Date: September 18, 2024
Time: 17:00 – 18:30 CEST
Format: Webinar & Q&A
Language: English
Expert: Mag. Miglena Hofer, Business Consultant
We’d love to see you there! Sign up now and take the first step toward building a strategic plan for your business.
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