Do small businesses really need strategic planning?

A couple of weeks ago, I spoke to a group of small business owners about business planning and marketing. The question they asked most was: "Do small businesses really need to do any kind of strategic planning?" The answer was "yes", but I understood why they groaned at the answer. In my experience, strategic planning is usually painful -- too long, too complicated and improperly executed -- if at all. But it doesn't have to be that way. At the risk of oversimplifying, strategic planning is just developing ways to build your organization and then actually doing those things. It's a roadmap to wherever you want your organization to go.

Another way to think about it is to answer these five questions:
- Where are we?
- What do we have to work with?
- Where do we want to be?
- How do we get there?
- How will we know we've succeeded?

In today's economy and fast-paced environment where short-term objectives become so demanding that it's difficult to think about your organization's long-term existence, strategic planning is more necessary than ever. It can help you anticipate change, identify areas where you may have issues or opportunities and do something about it. And it doesn't have to be a dreaded task. I've used a shortened version of the process with clients, and we've answered the questions and put together a workable plan without spending too much time or money and enduring a lot of pain. Was it hard work? Absolutely. Was it worth it? Definitely. If you haven't considered doing strategic planning, or if you've given up on it, give it a chance. It may be a cliche', but the old proverb still holds true: "He who fails to plan, plans to fail."

Cam Mordaunt is V.P. of Strategic Marketing & PR at Breehl, Traynor & Zehe.