Why is Strategic Planning so Important?

Abraham Lincoln said that the best way to predict the future is to create it.

The first step to creating the future is to harness the ability to generate new ideas. Then turning those ideas into reality is a powerful competitive advantage for any business. This can help set your organization apart from others and give you a tremendous competitive edge. We refer to this strategy as strategic planning, and it is especially important for dental practice owners and managers.

A common denominator found in most successful businesses is that they take the time to look into the future to determine where they want to go and how to get there. Organizations that regularly take the time to fully engage in this process have a much greater chance of being financially successful.

  • Have you ever taken the time to think about how truly successful your organization could be in 3-5 years?
  • Have you ever taken the time to dream and identify a vision for your organization?
  • If you do have a vision for your organization, do you know how to achieve it?

Strategic Planning could be the process that you’ve been missing to take your organization to the next level.

vision

Strategic Planning helps an organization do a better job of focusing its resources and energy. Successful organizations take the time to periodically inventory their current assets. What is it that the organization currently possesses that are assets or strengths that may not be fully utilized? Strategic Planning can help you identify those. Strategic Planning also identifies opportunities that could enable your organization to reach the success you thought was possible, but didn’t know how to achieve.

The Strategic Planning process also helps you identify weaknesses and obstacles that may be preventing your organization from reaching its highest potential. Once weaknesses and obstacles are identified, you can implement and execute the steps necessary to remove or minimize those issues. The result is that you have a stronger, healthier organization that can confidently move forward in a rapidly changing world.

Keep in mind that Strategic Planning is rarely about one big thing, but several highly impactful things.

At The Dental CFO, we work with you to develop a solid action plan for your practice. This plan can be used as a direct roadmap to reach your goals. With recommendations such as critical targets, assignments, and time commitments that will be required to see your practice succeed. Your team will have specific roles that can be held accountable, that way you can ensure your entire practice is working towards growth and success. Talk with our team to learn more about this service!

Leave a Reply