The strategic plan of your project is the part of the business plan (see TIP) in which you demonstrate that you will be able to compete with the rest of the companies in your sector (your competition), and that you will be able to maintain a good competitive position (maintain your profits) when they copy you, precisely because you are doing well and succeeding.  Setting up a business is relatively easy, the hard part is making money for a long time, because if you do well, your competitors will try to copy you unless you have a lasting competitive advantage. A strategic plan is a a document that sets out a company's long-term objectives and goals, as well as the strategies that will be used to achieve those objectives. The strategic plan should be a dynamic document, which is regularly updated in line with changes in the company's environment.

The classic strategic plan includes the following elements

1. Analysis of the environment: identify trends and external factors that may affect the business.
2. Internal analysis: identify the company's strengths and weaknesses, including its financial capacity, organisational structure, equipment and processes.
3. Definition of objectives: set clear and measurable long-term objectives that are in line with the company's vision and mission.
4. Strategies: establish the strategies necessary to achieve the set objectives, including market segmentation, choice of distribution channels and pricing strategy.
5. Action plan: establish a detailed action plan that includes the necessary steps to implement the strategies.
6. Performance indicators: establish performance indicators to measure the success of the implementation of the strategic plan.

It is important to note that the strategic plan is a living document that needs to be updated and adapted in line with changes in the business environment and the results achieved over time.

Tips for developing your strategic plan

We will pass you the strategic plan template on Google drive during the acceleration programme so that you can write down the answers to the vital questions you need to think about.  The strategic plan is the last document to be completed, as you have had to complete the four fundamental sprint of the acceleration programme in order to be able to do so. You cannot make a good strategic plan for a new company if you have not previously completed other phases.

I recommend that you share this document on a drive, that you share it as experts, peers, mentors so that they give you feedback (see +) and you can improve. Active listening (see TIP) in order to identify areas for improvement. You have a practical workshop (webinar) soon where you will be able to see many other strategic plans from other entrepreneurs. Also, if you are already registered in the acceleration programme, you will be able to present your strategic plan and receive a lot of value to improve it.

THESE ARE THE VITAL POINTS YOU NEED TO REVIEW IN YOUR STRATEGIC PLAN (SEE+ DELIVERABLE)