Strategy 102: Having a plan

One of the books that never leave my desk is the Art of War by Sun Tzu, the Chinese military general, strategist, tactician and mastermind of strategy. The book is available in many different forms; different writers influenced their experiences and opinions upon it by translating the Generals statements. I however favor the simple translation of the precise statements written by the General over 2,500 years ago.



The first chapter of the book refers to planning and has been titled differently through the several translators and authors, “Laying Plans” by Lionel Giles, in 1910, R.L. Wing in 1988 titled it “The Calculations”. R.D. Sawyer in 1996 titled it “Initial Estimations” but most recently Professor Chow-Hou Wee, Head of Strategy, Management and Organization at the Nanyang Business School in Singapore titled the first chapter “Detail Assessment and Planning”.



Business Planning is not a straightforward task, but it can be very interesting and rewarding to the business owner because of the amount of information and analysis process, especially for those with passion. During this process, and before starting with your Vision, Mission Statements, Goals and Objectives, look into yourself and recognize your strengths, business needs energy, and this energy comes from you passion.



While it is easy to describe a business plan as just a written document that describes your business from products, services, sales, production, management, structure, financial, etc. the value of the plan is based on the Calculations, Initial Estimations and Detail Assessment which makes a great business plan.



All business plans start with a Vision Statement, describing your perception of your business, keeping it brief, straightforward and memorable. Then followed by the Mission Statement, defining the purpose of your business venture and setting the foundation of your business strategy by outlining the reason of your business and how it will operate. This will outline what your business will do, how it will develop and grow, and most importantly how your business is unique and distinguished from others.



S.M.A.A.R.T. Planning of Goals and Objectives is one of the best contemporary planning techniques. Having Specific, Measurable, Attainable, Action-Oriented, Relevant or Result-Oriented and Time-Phased Goals and Objectives allows the Business Owner or Manager to see the movement of the business and translate the ideas from paper written to reality.



Finally, always keep in mind the 4WH, What are you doing? Who are you doing it for? Why are you doing it? When and How are you going to do it?