Episode 71 Strategic Planning Part 1 for Companies and Individuals
Only 23% of companies follow a formal strategic planning process. Companies with strategic plans are 12% more profitable. The big MedTech companies are in the final phases of the 2022 strategic plans. What about the small to medium sized companies? What about you as an individual? Imagine how much more productive and profitable you might be with your own personal plan. This is part 1 of a 2 part series to offer some guidance on creating a strategic plan whether it is for a company, a function and/or you as an individual. Today we will cover Assumptions, the SWOT analysis, Opportunities and Gaps and finally Key Goals and Objectives. In part 2, I will cover strategies and tactics and executing the plan. This is important because only 13% of companies successfully execute their annual plan.
I will be using slides. For podcast listeners, I will try to clearly explain my progress through the slides. There is a way you can get copies of the slides. You have heard me talk about the MedTech Leaders community. This is where Medtech professionals get together to help each other out with best practices, problems, solutions and ideas. You can learn more at medtechleaders.net. Members of the MTL community can request a free copy of the slides. There is a very low annual fee and there is a free trial. It costs less than 4 Starbuck’s coffees. Why charge anything you ask? To keep the spammers out and cover basic community costs. I guarantee you I am not making money from the community. It is more of a passion project than a profit project at this point.
Now Go Win Your Week!
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