What is included in a good strategic plan?

Mission Statement
Your mission statement should define precisely who you are, what you do, and how you do it. Sounds simple enough but it can become a complicated process. A mission statement is not your tag line. An effective mission statement requires research into your markets and a thorough evaluation of your operational methods and ethics.

Business Philosophy
This section should address the overall values of your company. Included should be; companies investment/growth policy, community responsibility, employee relationships, and ethical questions specific to your industry.

Company Goals

Goals should be precise, justifiable, and well researched. Many small business owners mistakenly skip this step all together or settle for goals such as, "try to make a profit." While making a profit is a good goal, it is really the result of a variety of smaller objectives and goals. These goals should be made in conjunction with all persons involved with the company. If you are a sole proprietor, we encourage you to seek the counsel of a mentor or organizations pertinent to your business.

Objectives

Objectives should be concise and measurable. For example, "establish a membership sign-up of 20 users by 08/09/07

Industry Outlook

A description of the challenges, growth opportunities, and niche opportunities within your industry.

Needs and Competitive Disadvantages

Be honest! No company plan is perfect out of the gate. Good businesses are proactive but flexible. Test your objectives and expectations and don't be afraid to adjust when needed.

Implementation

Use the plan. Stick to the objectives, continue testing, and schedule regular reviews and updates.