Strategic Planning: Part 1 - Who Cares, What's Your Purpose, Why, and So What

Regardless if you are starting a new business, you have been up and running for a while, or you are supporting an established organization, strategic planning is an important part of running your business. As a consultant and educator, I am often asked what exactly should a strategic plan include. While elements vary, there are core considerations every plan should have. When I work with others, strategic planning starts with developing a purpose statement and pitch. After that, it’s a process of adding in elements focused on providing a roadmap for execution. Strategic planning is one of my favorite things to do so I thought it would be fun to put together the process I help others go through when I help them. It’s not always the same for everyone so I focused on 7 key elements I often use that are included in plans I have built in the past. Because this would be a long post if I included all of these elements, I will break them up into a 7-part series so that when finished, fans of Satisfactionist will have a complete guide to use in building your own plan.

What Is Your Hourly Rate As An Entrepreneur?

I remember the first time I put a price to my work, it was terrible. I underpriced my value, worked way more than I should have, and walked away feeling I had no idea what I was doing when it came to pricing my time. I think part of the reason I was so terrible at it was because I was conditioned to think that my value was what I made a year from my employer. Using your historical annual salary as a benchmark may seem like a good start because its a record of how you have been getting by so far; however, what some seem to forget are the added costs you endure while running your own company.