What is a strategic plan?
We often get asked, “What is a strategic plan?” This usually comes up when a parent organization tries to get its member branches to understand the importance of a strategic plan. These member branches or clubs are often volunteer-run and see the strategic planning process as quite intimidating. Imagine a door in front of you but there’s no knob or obvious way to open it. It’d be helpful if someone filled you in on what to do, right? Or at least tell you why it's important for you to open the door in the first play. In this case, all you’d need to do is send them this article!
Let’s start with a definition: “A strategic plan sets out a company’s goals and defines the actions it takes to get there” (BDC).
We work with companies and organizations across Canada to help them build their strategic plans, and we always follow this tried-and-true structure:
Vision, Mission, and Values - your driving force. This is foundational to all of the work you do. It covers what you do and why, what your ideal future looks like, and the guiding principles you’ll adhere to along the way.
Priority Areas - where you’re focusing energy. If everything is a priority, then nothing is a priority. It’s important to know what your organization is going to truly focus on driving forward. Priority areas could include volunteer development, staffing structures, or marketing efforts. It’s up to you and your team to determine what needs the most attention.
Outcomes - A.K.A. goals. When focusing on your priority areas, what does success look like? If we do this, then that will happen. For example, an outcome of developing your volunteers could be increased donations because your door-to-door canvasing volunteers feel more confident and competent.
Initiatives - A.K.A. strategies - how are you going to get there? Once you know the priority area and the outcome, what do you have to do to realize that outcome? In our volunteer development example, this could include surveying volunteers on challenges they face, developing a volunteer development strategy based on that feedback, and organizing a volunteer development day.
Okay, so you know the definition of a strategic plan and the pieces of it, but you may be unconvinced why you should bother putting one together. Let’s break that down.
It’s incredibly common to get caught up in day-to-day tasks. When we do that, we miss out on opportunities to innovate. We also forget to look ahead to possible challenges. A strategic plan forces you to pull your head out of the sand and think, how can we be better? Or, how can we prepare for the future?
Strategic plans help you navigate the complexities of your environment, set truly meaningful goals, allocate resources wisely, and ultimately achieve long-term success.
These plans are necessary for building other strategies. For example, you may create a strategy to get more sales or program participants, but have you identified whether or not that truly aligns with your company’s goals? If you make more sales, can you handle the volume?
It’s a team-building exercise! Getting key thinkers in your organization together to develop a strategic plan builds camaraderie - you’re collaborating on collective goals and bettering your organization as a group. It’s team-building at its finest.
A quick note - what’s the difference between a strategic plan and a business plan?’
A business plan is an overview of your business operations. It includes your staffing structure, your purpose, and how you’ll operate as a functional business. It’s a high-level overview of what you do. It’s often shared externally to secure loans or investors. On the flip side, a strategic plan is a goal-focused plan showing how your organization will evolve, become more efficient, and drive toward your vision. It’s a more internal document usually shared amongst your staff and board of directors. Here’s a more in-depth article from BDC detailing the difference.
If you STILL need further convincing or are now ready to get planning, connect with us to get started.
Further reading…
6 tips to keep on top of your strategic plan - Mosaic Engagement
5 common strategic planning mistakes - Mosaic Engagement