The Elements of a Strategic Plan

Do you have a plan?

1. Reassess and redirect your Vision & Mission

• Define a new direction for your vision and mission

• Align your mission with long-term goals and values.

2. Market Analysis

• Identify new target customers and market segments.

• Research competitors in the new space.

• Assess market trends, growth potential, and risks.

• Tools to use: SWOT (Strengths, Weaknesses, Opportunities, Threats), PESTEL (Political, Economic, Social, Tech, Environmental, Legal).

3. Value Proposition & Offering

• Clarify what makes your pivot plan unique.

• Define products/services in the new model.

4. Operational Changes

• Adjust supply chain, staffing, and technology.

• Build new capabilities (e.g., digital platforms, logistics).

• Identify what can be repurposed and regenerated from the old model.

5. Financial Planning

• Estimate costs of pivot (tech, marketing, retraining).

• Project revenue streams in the new model with scheduled targets.

• Create contingency plans for cash flow.

6. Marketing & Communication

• Rethink and Rebrand if necessary.

• Communicate clearly to existing customers about the pivot.

• Launch campaigns targeting possible new audiences.

7. Implementation Roadmap

• Short-term (0–3 months): Pilot new offering, test market response.

• Mid-term (3–12 months): Scale operations, refine based on feedback.

• Long-term (1–3 years): Expand reach, diversify offerings.

8. Metrics & Feedback

• Define KPIs (customer acquisition, retention, potential revenue growth).

• Set up feedback loops (surveys, analytics).

• Adjust your strategy continuously.