The How of Business - How to start, run, grow and exit a small business. 590 – Annual Strategic Planning
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Dec 8, 2025 Discover a practical 10-step guide to creating an annual strategic plan for your small business. Learn how to review the past year, refine your vision, and conduct a SWOT analysis to identify priorities. Henry highlights the importance of setting measurable goals and KPIs while breaking down the plan into actionable quarterly steps. He shares best practices for effective planning, including limiting priorities and ensuring accountability. By the end, you'll be equipped to lead your business with clarity and intention, regardless of changing circumstances.
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Base Next Year On A Brutal Review
- Review last year's financials, sales, marketing, customer feedback, and team performance honestly.
- Use those lessons to decide wins to repeat and failures to fix next year.
Confirm Vision Before Setting Goals
- Revisit your long-term vision (3–5 years) and mission before setting annual goals.
- Ensure this year's initiatives directly align with that vision.
Use SWOT To Drive Practical Initiatives
- Complete a SWOT to identify strengths to invest in and weaknesses to fix.
- Use opportunities and threats to generate focused initiatives for next year.
