A business operational plan can be a powerful tool to grow your company. Even still, there are plenty of business owners who’ve never heard of an operational plan, or get it confused with general strategic planning.
Wouldn’t it be nice to have a roadmap that outlines the details of your daily operations for over a year? One that defines the who, what, when, and how of your company? And, what if it could tell you exactly how to achieve your short and long-term business goals?
That roadmap is your business operational plan. Let’s dive into the details.
What’s the Difference Between a Business Operational Plan and a Strategic Plan?
While both of these plans are important, knowing the distinction between a strategic and an operational plan puts you ahead of the game.
What Is a Strategic Plan?
Most businesses have a strategic plan. If you’ve managed to get your ideas off the ground and into motion, you likely have a strategy in place.
Strategic plans deal with long-term business goals. You have a grand vision–it’s why you started your business in the first place. The strategic plan reflects that. It’s an actionable plan, but it’s more future-based. Making it clear and sharply defined is the challenge.
What Is an Operational Plan?
The most successful businesses never choose between a strategic and an operational plan. They have both. An operational plan is your ticket to achieving that grander vision.
It maps out the day-to-day processes and practices that will generate the results to reach your long-term business goals.
Think of it like this: the success of your strategic plan depends on the efficiency of your operational plan.
Why Use a Business Coach to Plan Your Business Operations?
Using a reputable, experienced business coach can put you on the fast track to achieving your goals. While you are passionate and knowledgeable about your industry, business itself is a craft that takes years to master.
That’s where a business coach comes in.
Pinpoint Management empowers business owners to put actionable plans into motion. Our team of business coaches can help you develop an operational plan that will provide the foundation to achieve your objectives in the best way possible.
What Makes a Successful Operational Business Plan
To successfully implement an operational plan into your overall business plan, you have to define your goals. Make sure each goal you set is:
- Specific. Get as granular as possible. There’s no detail too small.
- Measurable. How are you going to quantify the goal to track progress?
- Time Bound. Make sure everyone has a deadline, and the goal has a timeline. (Accurately assessing timelines can be tricky. That’s where a time management consultant can be valuable.)
- Attainable. By all means, be ambitious, but be realistic. Motivation can drop if you set unattainable goals.
For example, a clearly defined goal might be that your company wants to increase revenue by 30% (specific) by the end of Q3 (time bound) through launching a new product (attainable). It will be measured by new product sales (measurable). Once you have a definition, you can back into how to get there through an operational plan.
Here are five steps to take to develop a cohesive operating plan:
- Focus on strategy first. Creating your strategic plan first gives you the vision and direction you need for your day-to-day operations.
- Concentrate on what matters. The most successful operating plans follow the golden rule—focus on the goals that matter. If your plan is too complicated with unclear goals, it will be hard to follow.
- Create clear KPIs. Key performance indicators (KPIs) can be impactful for your business. Choose the right KPIs and Involve your whole team in the process
- Communicate, communicate, communicate. If there’s one key above all else in business, it’s communication. The more communication you can open up during the process, the better.
Create Your Business Operational Plan with Pinpoint Management
You should be owning your business, not letting it dictate your day-to-day life. An operational plan can help you reclaim your freedom and focus on those things that matter the most in your business.
If you’re ready to build an actionable plan to reach your long-term goals, contact Pinpoint Management. We’re here to empower you and help make your vision a reality.