In business, planning is vital, especially during uncertain times. Key constituencies — customers, prospects, and employees — need to receive heightened levels of information. A business development plan can serve as an excellent strategic communication tool. It sets forth a clear path of action that can be referred to — almost as a company’s Rosetta stone — in unclear circumstances. This, in turn, generates comfort and confidence in the business, its leaders, and the planning that gone into it.

But the process of creating a business development plan is fraught with misconceptions, the biggest being that it’s complicated and burdensome. A sound business development strategy need only address four questions:

1. Where are we? The business development strategy should clearly define the financial, environmental, and market realities facing the business. Someone reading this section of the plan should be able to clearly understand the strengths and weaknesses of the business, and get a sense of the company’s potential given the current reality. Tip: The best way to lose enthusiasm around your business plan is to make it a complex, death-by-numbers statistical dissertation. Readers care nothing about your plunging ROI, but they care intensely about what it means to your business.

2. Where are we going? This section of the plan should spell out the intentions for the business in the coming years. In other words: What does the organization want to accomplish? Your development plan should offer a reasonable prediction of the momentum needed to achieve the business’ future goals. Tip: The best plans are insightful because they balance bold market aspirations with commonsense business acumen.

3. How will we get there? This section of the plan should set forth the tasks that are absolutely non-negotiable in terms of achieving success. By spelling out these priorities, leaders also define where they are willing to fail in order to secure the critical path. Tip: Make sure each employee knows where his or her job fits within the critical path outlined in this section. Without that knowledge, he or she is not fully a part of the team.

4. Are we on track? The plan needs to define what success looks like and how it is measured. It should also clearly define who is accountable for each measure, when measurements will be taken (i.e. monthly, quarterly, etc.), and the corrective actions to be taken in the event of any deviation from the plan. Tip: This section provides a uniform template that ensures everyone’s goals and measures are aligned to organizational vitality.

— John Baker, author of Ready Thinking — Primed for Change (readythinking.com)

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