In its simpliest form it means a plan for your firm, When you know where you want to go you can work on how to get there.
Some plan for 2 years, 3 years, 5 years, but if you have never made a strategic plan for your firm before you might focus on the next 6 months.
Defining where you want to get to is relatively easy, carrying it out is the challenging part and there are lots of elements to strategic planning in your firm - it's a big subject.
In the blogs below we tackle many of the elements of why a strategic plan matters, what the steps are and what the matters most, including:
Strategic planning does not need to be difficult, even if you have never thought about the strategic future of your accountancy firm before. All we are really talking about is a plan – a planned direction of travel. It’s like Satnav for your firm. And it can be for 1 year, 3 years or even 5 years
Read MoreLet’s be honest: accounting isn’t just about tax returns, payroll, and management accounts. Yes, those things matter, but they’re not why your firm exists. They’re not what gets you or your team out of bed in the morning, and they’re certainly not what sets your firm apart from the one down the road. So here’s the real
Read MoreIn our fast-paced world, accountancy firms face increasing pressure to deliver more value, build stronger teams, and stand out from the crowd. But amidst the demands of daily operations, one important question often goes unanswered: Where are you heading, and is your team coming with you? Strategic planning isn’t just a ‘nice to have.’ It’s the foundation of
Read MoreStrategy – you have heard the word bandied about in many business scenarios, including your own firm. But what does strategy mean? The dictionary definition states: “a plan of action designed to achieve a long-term or overall aim”. or “the art of planning and directing overall military operations and movements in a war or battle”. A well-outlined business strategy is
Read MoreStrategy – you have probably heard this word bandied about in many business scenarios, including your own. But what does strategy actually mean? The dictionary defines strategy as: “a plan of action designed to achieve a long-term or overall aim” or “the art of planning and directing overall military operations and movements in a war or battle” Your accountancy firm,
Read MoreTaking yourself out of the day-to-day running of your firm for even a short period of time to focus on your future strategic objectives can sometimes seem like a dream and not reality. You are likely too busy fire-fighting – dealing with your team and client deadlines to even think about the important strategic priorities of
Read MoreRunning your firm is challenging. You and your team work very hard just to survive and to make sure that your firm remains profitable and has a future.It goes without saying that your firm cannot exist without making money – but is the money the sole reason for its existence?If the purpose of your firm
Read MoreSome business owners fall into the trap of thinking that strategy is a wish list of things they would like to do. For example: grow by 10%, recruit more staff, open another office, upgrade the computer system. This is not good strategy – this is a wish list. Good strategy is about identifying the biggest and most
Read More