When small businesses are formed, the owners are most often concerned with day to day operations. If a small business was launched to provide a product or service, the daily maintenance of that product or service is the chief interest of the business team. The financial viability of the small business is dependent on the immediate revenues generated by the day to day operations.
If you have attended any of the SCORE workshops on “Creating a Strategic Plan for your Business,” you know that having a clear vision of what the business wants to accomplish is so important t to the success of the business long run. A key ingredient of the Strategic Plan is an assessment of the Strengths (S), Weaknesses (W), Opportunities (O), and Threats (T). Vision and Mission are the results of the SWOT Analysis. I encourage SCORE members to attend these workshops because they are the essence of deciding your role in the business community.
Day to day operations are certainly important in defining the business processes that will deliver the products and services immediately. But small business owners always ask the question “Where does my Strategic Plan lead me?”