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Where do I begin my strategic plan?

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The initial stages of starting a strategic plan will seem overwhelming. Sitting around a room with co-workers, deciding the future of the organization, will reveal many different opinions. Within many corporations, this will be the Achilles heel of the entire strategic plan � in some cases outright killing it before it even begins. The key to starting the process is having the senior executive prep the committee to better understand the difficulties that lie ahead and remind them that they are all on one team. Do not, however, underestimate the complexity and importance of the possible �turf war� that might ensue.

Research plays a vital, yet understated, role in the development of the strategic plan. It is extremely important to get inside the customers� minds and know what they are really thinking. Too often, research and development departments fail to rely on field testing and consumer research before recommending new product launches or ventures. Any successful plan must be well-rooted in thorough research and testing of a statistically valid sample base. Many companies find that contacting a marketing research firm or expert is the best use of funds. For those companies that wish to forego the professional and do the research on their own, they should consider how their own biases might skew the results. Marketing research professionals are more adept at ensuring results are fair, objective and statistically valid.

Next Page: What�s a realistic timeline for developing a Strategic Plan?

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