Strategic planning transforms wishes into reality.
Having a plan isn’t an academic exercise that’s simply “nice to have”. It can be the difference between achieving long-term success and stability or facing constant struggle and uncertainty.
Your plan enables you to arrive at your desired destination. And it has to be a plan for the years ahead, not just the next one. This will not only set you up more effectively for the future but also provide more and better choices along the way.
Agencies which plan are more successful than agencies that don’t. Research shows that 55% of marketing communications agencies don’t have a strategic business plan. Having a plan while many of your competitors do not is in itself a powerful competitive advantage.
Planning will improve your agency’s performance both now and long term. It keeps you focused on what’s most important to revenue growth, profitability and investment. You’ll spend more time (and spend it more productively) on big-picture issues rather than being consumed by the day-to-day.
Planning will help you and your senior team achieve your vision for the agency. Planning creates alignment. It turns dreams into a measurable reality.
Planning will add market value to your agency. It will help you to always be running your business as if you’re going to sell it (whether in two years or twenty). The right plan also makes you think more clearly about your company including how potential investors or buyers would evaluate you.
Planning will provide you with more choices when you decide that it’s time for you to leave. At some stage, agency owners start thinking about their exit plans and alternatives. A well-planned agency will provide more options when you choose to leave, doing so on your own terms and achieving maximum market value.
Developing a strong strategic plan for your agency.
You should already be planning for 2020 (and beyond). However, if you’re not, it’s not too late to begin.
At Prosper Group, we can help you develop a strong strategic plan by applying our proprietary (and proven) planning process. We’ll first conduct an in-depth assessment of each of your agency’s seven Growth Drivers:
- Sales & Marketing
- Financial & Operations
These are the critical factors for driving growth… increasing profitability… and adding market value to your agency in the years to come.
This assessment will be conducted by former agency CEOs who have built, run and sold successful agencies including public relations, public affairs, strategic communications, advertising, integrated and digital.
Based on these findings, we will then work with you and your team to develop the plan itself.
We’re here to help.
Prosper Group can help you achieve almost anything you need for your business. From forming it to selling it and just about everything in between. We can help you and your organization throughout every phase of its existence.
Please contact Alex Halbur, Managing Partner at firstname.lastname@example.org or 310-936-3774.
Prosper Group has the purpose, people and experience to help. Prosper Group exists to help the owners of independent marketing communications agencies achieve their ambitions and maximize the value of their lives’ work. Our team of former agency owners/CEOs focus their deep experience on implementing proven proprietary methodologies across our three practices of agency performance, owner exit planning and M&A transactions in order to drive owner and agency success.
Written by Alex Halbur, Bruce Bishop and Mark Johnson of Prosper Group (October 23, 2019)