What I will do differently in 2016 to grow my SFI business will be based on the evaluation of my strategic plan in consideration with the latest SFI innovations for 2016.
The new year brings new opportunity for all SFI affiliates to look back and review their SFI business growth. I find it very important to evaluate my strategic plan. Now that 2016 is here, you need to be asking how important for your SFI business to put into place a strategic plan.
Growing a business means taking many decisions about the way you want to expand your operations. Creating a strategic plan is a key component of planning for growth in your SFI business. It will help you prepare a realistic vision for the future of your SFI business and in doing so can maximize your business' potential for growth.
A strategic plan should not be confused with a business plan. A business plan is about setting short- or mid-term goals and defining the steps necessary to achieve them. A strategic plan is typically focused on your SFI business' mid- to long-term goals and explains the basic strategies for achieving them.
To get an idea of what you should be dealing with your strategic plan for your SFI business, you must consider the following issues to act as your guide to ensure you're in the right path in light of the forthcoming changes for the year 2016:
- You should determine the purpose of your strategic plan.
The purpose of your strategic planning is to set your overall goals for your SFI business and to develop a plan to achieve them. It involves stepping back from your day-to-day operations and asking where your SFI business is headed and what its priorities should be. You need to spend time in identifying exactly where you want to take your SFI business - and how you will get there. How are you going to fulfill the new TL requirements and how are you going to make use the Signing Bonus to your advantage are tasks that should be addressed in your strategic planning.
- Ask the following questions, which form the key elements of your strategic plan for 2016:
1. What's the current status of your SFI business? This involves understanding as much about your business as possible, including how it operates, what drives its profitability, and how it compares with competitors. Keep your review separate from day-to-day work and be realistic, detached and critical in distinguishing between the cause and effect of how your SFI business operates. You should also write it down and review it periodically.
2. Where do you want to take your SFI business? Here you need to set out your top-level objectives. Work out your vision, mission, objectives, values, techniques and goals. Where do you see your SFI business in five or ten years? What do you want to be the focus of your SFI business and your source of competitive advantage over your rivals in the marketplace? This step should be the foundation for the final plan and motivate change.
3. What do you need to do to get there? What changes will you need to make in order to deliver on your strategic objectives? What is the best way of implementing those changes - what changes to the structure and the financial investment of your SFI business will be required and what goals and deadlines will you need to set for yourself in your SFI business? Think about your SFI business as a whole, for example consider existing growth, network expansion, continued education and expanding your knowledge base as well as reviewing and updating your current training and support system.
Developing a strategy for your SFI business growth shouldn't be let alone formed by circumstances but rather requires your focus to deepen your understanding of the way your SFI business works and its position relative to your competitors in your markets, making the necessary changes to stay competitive.
SFI is keeping all SFI business owners up-to-date in 2016 with the latest innovations to help them achieve their long term goals and become successful.
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