A strategic plan is essential for any company or nonprofit organization aiming to build and grow. At Point Taken Communications, we constantly review and update our strategic plan and help our clients develop and refine their own. Let’s explore what a strategic plan is and when and why an organization should adjust it.

What is a Strategic Plan?

A strategic plan is a guide that outlines a company’s goals and the steps needed to achieve them. According to Asana, a strategic plan typically spans five years, but at Point Taken Communications, we tailor plans to fit our clients’ needs—ranging from six months to five years. A well-crafted strategic plan includes:

• Company goals
• Competitor analysis
• Stakeholder feedback
• Short- and long-term objectives
• Strategies to achieve these goals

A strategic plan aligns employees with the company or nonprofit organization’s vision, optimizes resource allocation, and provides numerous other benefits.

Why Adjust Your Strategic Plan?

Each client we work with is unique, and we agree with Funding for Good that a strategic plan should be a dynamic part of your business, regularly revisited and revised. Think of it as a roadmap—when navigating, you frequently check your route, adjust, and sometimes backtrack to stay on course. A strategic plan requires similar attention.

When to Review and Revise Your Strategic Plan

Many PR experts recommend reviewing and possibly revising your strategic plan quarterly, involving your board of directors and stakeholders in the process. Here are key times to consider adjustments:

1. When External Changes Occur: Events like a pandemic can significantly impact your strategic direction.
2. When Internal Changes Occur: Shifts in company goals or changes in roles within the organization necessitate a review.
3. When There is Market Volatility: Factors such as staffing shortages or inflation may require a reassessment of your business goals and strategies.

How Do Strategic Plans Affect Start-Ups vs. Established Companies?

Forbes reminds us that a start-up’s strategic plan should evolve once the company is operational. Similarly, established companies must avoid becoming complacent and should continue to update their strategic plans. Market conditions, such as workforce volatility, can also prompt a review. For instance, an organization may need to reassess its goals if it anticipates having fewer employees than initially projected.

Whether you are a small start-up, a large corporation or a nonprofit organization, having a strategic plan is crucial. At Point Taken Communications, our team of experts is ready to help you craft or update your strategic plan to ensure your company meets its goals. We have extensive experience developing and refining strategic plans, and we are eager to assist your business in achieving even greater success.

Contact us today to learn how we can help your organization stay on track and adapt to changing circumstances. Let’s work together to ensure your business or nonprofit organization thrives in any environment.