In the US today, only about 10% of business owners develop a strategic plan. In fact, most owners tell us that they have lots of plans and goals for the company, but they tend to walk around with those in their head, rather than writing them down on paper. Why is this? Well, many leaders are concerned that writing down their goals will mean that they are trapped into a course of action that really needs to be more nimble to adjust to a dynamic market. Some worry that others may judge their ideas or be critical or skeptical about the practicality of the plan.
A strategic plan should be a living document – with a solid foundation in the form of a clear vision for the future and short list of the core values that drive decision-making in the company.