Introduction to Strategic Planning Frameworks
As a business coach assisting advice practices in creating their business plans, I utilise several frameworks to ensure optimal strategic planning.
I’d like to share one specific framework that helps identify priorities for project focus, accelerating results from coaching.
This framework is one of many tools I use, including our own Practice Analysis and Role Audit tools, including our own Practice Analysis and Role Audit tools, as well as numerous frameworks from the Planning section of our program curriculum (accessible by signing up for our free best practice portal).
The Journey Framework
I call this particular framework ‘The Journey’. It might be familiar to you under a different name – The Journey to Leveraged. We’ve recently rebranded it slightly.
Regardless of whether you’ve encountered it before, I believe it’s a tool worth revisiting annually.
If you’re interested in some of the concepts that informed its development, I recommend Vern Harnish’s Scaling Up as supplementary reading. However, it’s not essential for understanding the explanation that follows.
Purpose and Stages of The Journey
The Journey’s purpose is to provide a roadmap for taking an advice firm from start-up to the most advanced state of growth possible, which I occasionally refer to as the “franchise in disguise”.
Your business would undergo three phases and six stages to successfully complete this journey.
Each growth stage necessitates focusing on different aspects.
Overcoming one stage of growth rewards you with the opportunity to progress to the next phase and tackle a new set of challenges.
Key Questions for Effective Planning
This framework is powerful because it prompts two important questions that facilitate better planning:
- What activities should I prioritise at my current growth stage (and where should I avoid wasting time and energy)?
- What activities might I have overlooked en route which, if not addressed, could hinder my growth at some stage?
These questions provide clarity and encourage you to view your business as something built brick-by-brick and stage-by-stage rather than attempting to do everything simultaneously.
Personalised Guidance Through The Framework
Would you like me to personally walk you through the framework? Let’s grab some time to chat here
Related: Your 10 Strategic Decisions Make All the Difference