What is a Strategic Map?

And why everyone should have one

A Strategic Map is another term for a Strategic Business Plan which is a document that outlines an organization's overall strategy for achieving its goals and objectives. It typically includes information on the company's products or services, target market, competition, financial projections, and a description of the resources and actions needed to achieve the desired outcomes. The plan is used as a roadmap for decision-making and resource allocation and serves as a communication tool for stakeholders such as investors, employees, and customers. It can be used for both short-term and long-term planning and is typically reviewed and updated on a regular basis (annually, quarterly, monthly, and weekly reviews are recommended).

Creating a strategic map for the current year can provide a number of benefits for a small business.

Some of the key benefits include:

1. Setting clear goals and objectives: A strategic map helps to define specific, measurable goals and objectives for the business, which can help to focus the company's efforts and resources.

2. Identifying key priorities: A strategic map can help a small business to identify which initiatives are most important and will have the greatest impact on the company's success.

3. Improving decision-making: A strategic map can provide a framework for decision-making, ensuring that the business's resources and efforts are focused on activities that align with the company's goals and objectives.

4. Identifying and addressing challenges: A strategic map can help a small business to anticipate and address potential challenges, such as changes in the market or competition.

5. Improving accountability: A strategic map can help to create a sense of accountability for the business's performance and can be used as a benchmark for measuring progress and success.

6. Improving communication: A strategic map can be a useful tool for communicating the company's goals, objectives, and priorities to employees, investors, and other stakeholders.

7. Flexibility: A strategic map can be reviewed and updated regularly, providing a flexible tool to adjust the company's direction and goals as the market, internal and external conditions change

At NEO Strategic, we like to call our version of the traditional strategic map a NEO MAP.

The word plan can conjure up negative feelings such as constraint, fear of failure, loss of freedom and restriction on creativity. However, a MAP is symbolic of adventure, confidence, and clarity about the direction one is heading. A map is full of possibilities and often shows multiple paths to one’s desired destination. A NEO MAP begins with a New set of Eyes on your current situation and then together we design your unique MAP by first getting really clear on your Mission. Then we reverse engineer your journey to outline Actions that are in Alignment with your mission and core values. Finally, we set up checkpoints along the way to ensure that you are making Persistent Progress toward your desired destination. A NEO MAP will provide you with the clarity, direction, and plan you need to advance toward your desired destination this year with confidence.

If a NEO MAP sounds like something your business needs this year, click this link to set up your FREE Discovery Call.

Together, we’ll get you on the road to success!