The People's Chamber of Commerce
f
Sign InJoin FreeSupport the Chamber

Leadership and Management Resource Center

Strategic Planning for Small Business

A strategic plan helps a business decide where it will compete, what it will build and what it will stop doing. It must guide real choices, not sit in a binder.

All Leadership GuidesOperations Guides
01

Understand the current position

Review customers, financial performance, capabilities, competitors, risks and market changes using credible evidence.

  • Include frontline insight
  • Test assumptions
  • Name uncomfortable facts
02

Make focused choices

Select a limited number of priorities based on customer value, advantage, resources and risk.

  • Define what not to pursue
  • Set measurable outcomes
  • Allocate real resources
03

Turn strategy into execution

Assign initiatives, owners, milestones, budgets and review dates, then adapt when evidence changes.

  • Use a simple scorecard
  • Review quarterly
  • Communicate decisions clearly

Frequently Asked Questions

Questions About Strategic Planning for Small Business

How far ahead should a small business plan?

Use a horizon appropriate to the industry while translating long term direction into near term actions and regular reviews.

What is the difference between a goal and a strategy?

A goal defines a desired result. Strategy explains the choices and approach the business will use to pursue it.

Keep Building

Use the complete Chamber resource network.

Continue with operations, careers, technology, networking and member expertise.

All Business ResourcesJoin The Chamber