On the other end of the scale, many successful business owners and entrepreneurs who have created and implemented a business strategy generally work for less hours, and produce a more sizeable income and profit margins. You will also find that in general, those who are successful with their own business attribute their success to having a strategic plan. Ok, we’ve discussed that having a good business strategy plan is essential, but what really is “strategic business management”? In its most basic form, it’s the process in which the goals and objectives for your business are defined, and an action plan is then created so you may reach your goals and objectives.

You now know what it is. So how do you go about creating a strategic plan for your business?

1) Any business owner should know, and be able to describe in detail, the vision for his or her business. What’s the image that you want your business to have?

2) Any operating business should have clear and concise company values and guiding principles. For instance, what are the reasons you are in business? Serve and protect? Provide quality soap? And how do you do business? Do you treat your customers like trash; or another form of royalty?

3) It would also be a good idea to create a 3 year and 5 year plan. Any business should implement a long-term plan in which the basis is on broad objectives that will assist you in getting your business from where it is today, to where you want your business to be.

4) Thinking not only long-term, but also short-term, will also greatly help your business develop. Each year, you should create, define, and plan specific objectives that when accomplished, will help you on the road to achieving your long-term goals. It is also worth noting, then when setting and planning your annual goals, is pays to be “SMART”. Make sure your planning incorporates the following points:

- Be very specific

- Show measure

- Make the goals realistic and attainable

- Make sure they are time-oriented

Include a list of obstacles and barriers which could halter your success from achieving your goals. In any case, getting to where you want your business to be, you’ll need resources. Create and define a list of resources you’ve already got, and the other resources which you will need to achieve your goals. At this point, you should also create a concise action plan that clearly defines how you will actually achieve the necessary goals. If your business has any employees, it is of great importance to involve them with this part of the business planning process.

5) In your business plan, you should create simple and concise milestones or benchmarks, which will define when you have actually reached a goal or objective. This is an essential part of the planning, as it will enable you to measure your progress as a business.

6) After you have created your strategic business plan, it is of paramount importance that it is shared with anyone who will be involved in the process. Your annual business plan is the roadmap which will lead your business and those involved, to the goals which need to be achieved — but to be effective, everyone must end up at the same goals and objectives, the “destination”, if you will. And to do so, everyone requires the same map.

7) Its no use having a well thought-out and planned strategic business plan, if you don’t put it into action. You now have a means to begin your business journey; its time to start it.

Be sure to regularly check and compare the progress of your business, to the benchmarks defined in your business plan.

If something should go wrong with your business, the sooner you figure out what went wrong, or what is -happening- wrong, the sooner you can fix the problem, make the necessary adjustments and get your business back on track.

9) And finally, ensure that each year you follow the exact same cycle to create your strategic business plan. Dream, Plan, Act, Check. That’s all there is to it.

As a final comment, I’ll leave you with this. Creating a business strategy and ensuring that you follow it, is not just about achieving specific goals and objectives. Its purpose is to also make sure that the journey taken to these goals is a safe and enjoyable journey.

Having a safe trip is just as important as reaching your final destination.

Don’t think it’s possible to jump sales by 267% with one sentence? I’ll show you how I did it and you can implement the same strategy in less than 5 minutes on your site!

This strategy is so powerful that it can literally jump your profits OVERNIGHT!All people doing business on the Internet are always trying to find ways to get their offer the the most targeted prospects available. Always trying to figure out, “What do I offer my proven customer next?”

Here’s what I did to BLAZE profits 267% overnight:

When my customers would click order they would be taken directly to a secure order form to enter their payment information. I came with the following strategy when brainstorming one late night….

Instead of sending them directly to the payment page I setup a page that offered a discount of 10% of their order if they would answer one simple question:

Once you begin to move beyond basic background information, you begin to realize that there’s more to boost your profits than you may have first thought.

What would you be most likely to purchase in the next three months?

I then had a drop down menu with three products I was selling at the time.

All the customer had to do was enter their e-mail address and then choose an answer and they would instantly be taken to the order form with the 10% discount.

Why did I give them 10% off for that one simple question?

When they submitted that question it was automatically entered into a data base with all the other customers that took me up on the offer. Two months after implementing this one simple question I pulled up my database, filtered it to the products customers expressed interest in and send a special customer offer to each of them.

What happened? Out of 120 customers, 96 bought! Can you believe that? An incredible 80% response rate on a sales letter is unheard of…but these customers where so targeted because of the simple question I setup that the response rate was unreal!

Jump on this strategy now, you just can’t afford to pass up that kind of profit!

Small businesses don’t have the capital to devote to entire payroll departments, legal departments, etc. Outsource to independent contractors whenever possible. In the long run it is cheaper and is definitely a smart business decision.

2) Network as much as you can.

Join networking groups comprised of individuals who are entrepreneurs or small business owners. Not only might you find some professionals that will help you develop and grow your business, it is also an excellent way to spread the word about your company. Local networking groups usually limit the membership to one person per industry, so you will not be competing with anyone else for referrals.3) Budget your expenses wisely.

If you can initially work from home, do so. Save the money you would spend renting or leasing an office space and invest in a decent computer system or advertising. Cut your costs wherever you can and take advantage of less well-known but dependable service providers, i.e. Vonage phone systems and e-fax.com.

4) Find a good publicist/virtual assistant.

It’s important to get the word out about your new business. Hiring a Public Relations firm is pricey and not always worth the money. Go online and search for a Virtual Assistant and publicist. Many will offer you a three month retainer at a lower cost than a fancy PR firm and the results can be extremely advantageous. Check out their references first and go with someone who has a proven track record. After the initial three months many VA’s will offer you an hourly or monthly rate.

5) Develop your negotiating skills.

Knowing how to talk to advertisers and getting the best deals you can will pay off big-time, especially when it comes to advertising. Ask your sales representative to tell you about any special rate packages they offer. Quite often, you will not know unless you ask. Tell vendors you are a new business and ask if you can pay for big projects (like a professional website) with monthly payments. If you are dealing with small business professionals, most of them have been in your shoes and will be happy to extend a monthly payment plan to you.

As a small business owner you must be creative yet frugal. Take every opportunity you can to tell people about your business. Word of mouth and referral business is priceless. Carry your business cards at all times and don’t be shy to talk about what you offer. You never know whom you may meet that might just turn into a wonderful opportunity!