INSTANT MBA: Why Your Business Plan Should Never Stop Growing
Today’s advice comes from VisionIT founder David Segura’s interview with Smart Business.
“Sometimes people just put a plan on paper, then go and never look at it again. They never ask if the plan is still really representative of who we are as a company and where we are going.”
Segura — who founded VisionIT, an IT consulting firm, in 1997 and helped grow the company to more than 900 employees and $230 billion in revenue in 2010 — stresses the importance of having a clear and simple strategic plan that gives focus to your business.
But companies need to make a commitment to revisit the plan regularly as their business grows.
“Say we’re going to leverage more LinkedIn to [find job candidates], we would have someone do some discovery, make a plan, come back and say this is our strategic objective around social media,” says Segura.
“But let’s say a new tool comes out in the market. I’ll share in our strategic framework that a new tool might be out, there might be a better tool than LinkedIn, and is getting a lot more passive candidates. That is where you’re going to need some flexibility to say, ‘OK, we have already gone down the path, we’re making this investment, but we need to take a look at another tool in the market.”