PR Agency Management: The Importance of Having a Strategic Plan
By Rick Gould CPA, J.D.
When developing your business, it is important to have a strategic plan. Transformation in business should be planned by strategic scope, and less by new technologies and / or new business functions. This strategic plan should include two key components:
- Managing “by the numbers”: This concept surmises that if a manager is given aggressive numbers to hit, they will make all efforts to increase their efforts in order to meet this goal. This plan provides growth opportunity and strategic innovation for managers and all employees.
- Run “as if” to sell: This concept speaks to how your business will operate. If you were going to sell your business tomorrow, how would you like it to be presented? What shape and structure should it be in? You would want your business to look appealing to buyers and like it will continue to succeed and grow. This is how you should always be positioning your company. Regardless of whether you ever choose to sell, you want to make sure your business is strategically set up to always be in a positive fiscal mode and set for growth.