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Planning for the new year can be easy if you follow a simple structure. Just start with a goal and break it down into objectives, strategies, and tactics. Once every small detail is planned (your tactics), the goal will seem much more achievable and realistic.
Goal
Start with your absolute top priority for the year: your goal. A goal should be hard to quantifiably measure and more abstract.
Objectives
Objectives are the ways you will achieve your goal. They need to play by the S.M.A.R.T. formula. Make your objectives Specific, Measurable, Achievable, Realistic, and Timely.
Strategies
How are you going to achieve the measurable results of your objectives? Strategies break objectives into achievable plans.
For instance, in the example below, one objective is to increase new customers. The strategies that fall under it are tasks that will drive new customers to the business.
Tactics
Your plan of action is your tactic. Start thinking about how each strategy will need to play out. The very specific details - such as, who, how many, and how often - are worked out in the tactics.
In the example, one strategy is to create efficient processes to increase profitability (the objective). The tactics that will make a shop more efficient include signing up with a vendor for a managed inventory system and using a cost recovery program.
Just because you’ve set a plan doesn’t mean it can’t change. It’s always important to adjust your plan if it’s not working as you thought or circumstances have changed. However, don’t abandon the idea of having a plan to reach your goals, even if they aren’t the goals you originally set.
Good luck in the new year!
