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How To Implement Your Business Plan Objectives

Breaking down your business goals into actionable steps is key for success

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What Is a Business Plan Objective?

Be specific and define clear objectives, break down objectives into tasks.

  • Assign Responsibilities/Allocate Resources

Be Mindful of Risks and Create Contingencies

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A business plan is an important tool to help business owners map their path to success. In addition, business plans may be used when applying for loans or seeking outside investment. But a business plan isn’t worth it if you leave it gathering dust. To make a business plan effective, you have to implement your business plan objectives.

Whether you’re a new business owner or a veteran returning for a refresher, here’s a closer look at common strategies to implement on your business plan objectives.

Key Takeaways

  • A business plan objective is a specific goal for your business.
  • Making achievable and specific tasks is helpful for successful implementations.
  • Track your results and stay prepared to update your business plan if necessary.

A business plan objective is a specific goal you hope to reach with your business. This may be a number of customers, revenue, or profit goal, among others. There are no right or wrong business objectives, in theory, but it’s important to take the time to pick the best goals for your unique business if you’re going through the work to create business plan objectives.

The SMART framework is a popular way to frame goals, and it can be helpful for creating objectives, too. To qualify, an objective must meet these criteria:

  • Specific : A general goal like “add more customers” could leave you floundering. Pick a specific number of customers. Every objective should have a clear finish line.
  • Measurable : Identify objectives you can measure. For example, you can’t necessarily measure something like “customer loyalty,” but you can measure repeat customers, sales and revenue per customer, and other data points related to loyalty.
  • Attainable : You might dream of turning your startup into a $1-million-per-year business. However, that may not be attainable in your first few years. What’s attainable varies widely by the business but in general, you’ll want to find the middle ground between unrealistic and underachieving.
  • Relevant : Perhaps part of your business growth strategy involves social media. While it may be fun to see your accounts grow, that may not necessarily be relevant to your revenue and profits. Keep goals focused on what’s most important to achieve, which may not include vanity numbers that are more about ego than results.
  • Time-bound : Each objective should have a deadline. If you give yourself unlimited time to get something done, you may never get around to it. With a set due date, you’re giving yourself a little pressure and motivation to hit that goal as planned.

SMART goals are just one method of choosing business plan objectives. You can work to create any objectives you’d like that make the most sense for what you’re trying to achieve.

Even if you don’t follow the SMART goals framework, it’s still wise to be specific and clear when choosing your goals and objectives. Vague and loosely defined goals often set business owners up for failure. Specific and clear business objectives give you and your team, if you have one, a common mission to work toward.

Breaking each objective into smaller tasks can prevent teams from getting overwhelmed and even help you get a clearer picture of what you need to do to prevail. Smaller goals also help you see faster and more frequent successes, which is a good way to stay motivated. An added benefit is an opportunity to foresee any needed resources or roadblocks, such as a need for an outside consultant or a government-issued permit.

Assign Responsibilities and Allocate Resources

Entrepreneurs with “superhero syndrome” think they can do everything themselves and often get burned out in pursuing business goals. Rather than do it all yourself, even if you have the capability, it’s often wise to delegate to others . Employees, freelancers, contractors, and business partners are part of the team. When you can count on others and best utilize their time and skills, you take a wise step to reach your objectives.

Create Milestones and Monitor Progress

Just as it’s a good idea to set smaller goals along the way, it’s also wise to create key milestone moments and monitor progress. You may learn along the way that a certain process can be improved. When a process works well, try to capture and double down on that success. When you stumble or discover inefficiencies, you could have an opportunity.

Monitoring progress helps you know what’s working and what isn’t, so you can adjust goals or methods if necessary.

Not all things go according to plan. If you miss the mark, you could join one of the millions of failed business owners. Stay mindful of risks and if it may be time to pull the plug rather than sink in more money.

Also, you may find successes outside of what you expected. Even the biggest companies pivot to a related product or service when their first idea fizzles. Remember that there’s a lot you can’t control in the business world, so not all business failures should be considered personal failures. Instead, look at them as learning opportunities to draw on in the future.

The Bottom Line

A business plan without clear objectives is at risk of being ineffective. Identify what your objectives are, break them down into small steps, delegate responsibilities, and be comfortable with pivoting when needed and dealing with risk. Taking the proper steps to create realistic objectives isn’t a guarantee that you’ll meet your goals, but it provides the framework to set you up for success.

Frequently Asked Questions (FAQs)

What goes in the objectives section of a business plan.

There is no set template you must follow for a business plan. Business plans can range from a one-page summary to a lengthy, detailed document. If a business plan includes an objectives section, it should include clear and specific goals that help define success for the business.

What is the difference between a goal and an objective in a business plan?

The terms “goal'' and “objective” can be used interchangeably in a business plan. Some businesses may consider objectives as smaller tasks that help reach goals. Regardless of the terminology, goals and objectives are both good for your business’s long-term success.

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Substance Abuse and Mental Health Services Administration. “ Setting Goals and Developing Specific, Measurable, Achievable, Relevant, and Time-Bound Objectives ,” Pages 1-2.

Chris Drucker. “ Virtual Freedom Companion Workbook ,” Page 3.

Chamber of Commerce. “ 10 Hugely Successful Companies That Reinvented Their Business .”

Small Business Administration. “ Write Your Business Plan .”

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  • 11.4 The Business Plan
  • Introduction
  • 1.1 Entrepreneurship Today
  • 1.2 Entrepreneurial Vision and Goals
  • 1.3 The Entrepreneurial Mindset
  • Review Questions
  • Discussion Questions
  • Case Questions
  • Suggested Resources
  • 2.1 Overview of the Entrepreneurial Journey
  • 2.2 The Process of Becoming an Entrepreneur
  • 2.3 Entrepreneurial Pathways
  • 2.4 Frameworks to Inform Your Entrepreneurial Path
  • 3.1 Ethical and Legal Issues in Entrepreneurship
  • 3.2 Corporate Social Responsibility and Social Entrepreneurship
  • 3.3 Developing a Workplace Culture of Ethical Excellence and Accountability
  • 4.1 Tools for Creativity and Innovation
  • 4.2 Creativity, Innovation, and Invention: How They Differ
  • 4.3 Developing Ideas, Innovations, and Inventions
  • 5.1 Entrepreneurial Opportunity
  • 5.2 Researching Potential Business Opportunities
  • 5.3 Competitive Analysis
  • 6.1 Problem Solving to Find Entrepreneurial Solutions
  • 6.2 Creative Problem-Solving Process
  • 6.3 Design Thinking
  • 6.4 Lean Processes
  • 7.1 Clarifying Your Vision, Mission, and Goals
  • 7.2 Sharing Your Entrepreneurial Story
  • 7.3 Developing Pitches for Various Audiences and Goals
  • 7.4 Protecting Your Idea and Polishing the Pitch through Feedback
  • 7.5 Reality Check: Contests and Competitions
  • 8.1 Entrepreneurial Marketing and the Marketing Mix
  • 8.2 Market Research, Market Opportunity Recognition, and Target Market
  • 8.3 Marketing Techniques and Tools for Entrepreneurs
  • 8.4 Entrepreneurial Branding
  • 8.5 Marketing Strategy and the Marketing Plan
  • 8.6 Sales and Customer Service
  • 9.1 Overview of Entrepreneurial Finance and Accounting Strategies
  • 9.2 Special Funding Strategies
  • 9.3 Accounting Basics for Entrepreneurs
  • 9.4 Developing Startup Financial Statements and Projections
  • 10.1 Launching the Imperfect Business: Lean Startup
  • 10.2 Why Early Failure Can Lead to Success Later
  • 10.3 The Challenging Truth about Business Ownership
  • 10.4 Managing, Following, and Adjusting the Initial Plan
  • 10.5 Growth: Signs, Pains, and Cautions
  • 11.1 Avoiding the “Field of Dreams” Approach
  • 11.2 Designing the Business Model
  • 11.3 Conducting a Feasibility Analysis
  • 12.1 Building and Connecting to Networks
  • 12.2 Building the Entrepreneurial Dream Team
  • 12.3 Designing a Startup Operational Plan
  • 13.1 Business Structures: Overview of Legal and Tax Considerations
  • 13.2 Corporations
  • 13.3 Partnerships and Joint Ventures
  • 13.4 Limited Liability Companies
  • 13.5 Sole Proprietorships
  • 13.6 Additional Considerations: Capital Acquisition, Business Domicile, and Technology
  • 13.7 Mitigating and Managing Risks
  • 14.1 Types of Resources
  • 14.2 Using the PEST Framework to Assess Resource Needs
  • 14.3 Managing Resources over the Venture Life Cycle
  • 15.1 Launching Your Venture
  • 15.2 Making Difficult Business Decisions in Response to Challenges
  • 15.3 Seeking Help or Support
  • 15.4 Now What? Serving as a Mentor, Consultant, or Champion
  • 15.5 Reflections: Documenting the Journey
  • A | Suggested Resources

Learning Objectives

By the end of this section, you will be able to:

  • Describe the different purposes of a business plan
  • Describe and develop the components of a brief business plan
  • Describe and develop the components of a full business plan

Unlike the brief or lean formats introduced so far, the business plan is a formal document used for the long-range planning of a company’s operation. It typically includes background information, financial information, and a summary of the business. Investors nearly always request a formal business plan because it is an integral part of their evaluation of whether to invest in a company. Although nothing in business is permanent, a business plan typically has components that are more “set in stone” than a business model canvas , which is more commonly used as a first step in the planning process and throughout the early stages of a nascent business. A business plan is likely to describe the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives. An in-depth formal business plan would follow at later stages after various iterations to business model canvases. The business plan usually projects financial data over a three-year period and is typically required by banks or other investors to secure funding. The business plan is a roadmap for the company to follow over multiple years.

Some entrepreneurs prefer to use the canvas process instead of the business plan, whereas others use a shorter version of the business plan, submitting it to investors after several iterations. There are also entrepreneurs who use the business plan earlier in the entrepreneurial process, either preceding or concurrently with a canvas. For instance, Chris Guillebeau has a one-page business plan template in his book The $100 Startup . 48 His version is basically an extension of a napkin sketch without the detail of a full business plan. As you progress, you can also consider a brief business plan (about two pages)—if you want to support a rapid business launch—and/or a standard business plan.

As with many aspects of entrepreneurship, there are no clear hard and fast rules to achieving entrepreneurial success. You may encounter different people who want different things (canvas, summary, full business plan), and you also have flexibility in following whatever tool works best for you. Like the canvas, the various versions of the business plan are tools that will aid you in your entrepreneurial endeavor.

Business Plan Overview

Most business plans have several distinct sections ( Figure 11.16 ). The business plan can range from a few pages to twenty-five pages or more, depending on the purpose and the intended audience. For our discussion, we’ll describe a brief business plan and a standard business plan. If you are able to successfully design a business model canvas, then you will have the structure for developing a clear business plan that you can submit for financial consideration.

Both types of business plans aim at providing a picture and roadmap to follow from conception to creation. If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept.

The full business plan is aimed at executing the vision concept, dealing with the proverbial devil in the details. Developing a full business plan will assist those of you who need a more detailed and structured roadmap, or those of you with little to no background in business. The business planning process includes the business model, a feasibility analysis, and a full business plan, which we will discuss later in this section. Next, we explore how a business plan can meet several different needs.

Purposes of a Business Plan

A business plan can serve many different purposes—some internal, others external. As we discussed previously, you can use a business plan as an internal early planning device, an extension of a napkin sketch, and as a follow-up to one of the canvas tools. A business plan can be an organizational roadmap , that is, an internal planning tool and working plan that you can apply to your business in order to reach your desired goals over the course of several years. The business plan should be written by the owners of the venture, since it forces a firsthand examination of the business operations and allows them to focus on areas that need improvement.

Refer to the business venture throughout the document. Generally speaking, a business plan should not be written in the first person.

A major external purpose for the business plan is as an investment tool that outlines financial projections, becoming a document designed to attract investors. In many instances, a business plan can complement a formal investor’s pitch. In this context, the business plan is a presentation plan, intended for an outside audience that may or may not be familiar with your industry, your business, and your competitors.

You can also use your business plan as a contingency plan by outlining some “what-if” scenarios and exploring how you might respond if these scenarios unfold. Pretty Young Professional launched in November 2010 as an online resource to guide an emerging generation of female leaders. The site focused on recent female college graduates and current students searching for professional roles and those in their first professional roles. It was founded by four friends who were coworkers at the global consultancy firm McKinsey. But after positions and equity were decided among them, fundamental differences of opinion about the direction of the business emerged between two factions, according to the cofounder and former CEO Kathryn Minshew . “I think, naively, we assumed that if we kicked the can down the road on some of those things, we’d be able to sort them out,” Minshew said. Minshew went on to found a different professional site, The Muse , and took much of the editorial team of Pretty Young Professional with her. 49 Whereas greater planning potentially could have prevented the early demise of Pretty Young Professional, a change in planning led to overnight success for Joshua Esnard and The Cut Buddy team. Esnard invented and patented the plastic hair template that he was selling online out of his Fort Lauderdale garage while working a full-time job at Broward College and running a side business. Esnard had hundreds of boxes of Cut Buddies sitting in his home when he changed his marketing plan to enlist companies specializing in making videos go viral. It worked so well that a promotional video for the product garnered 8 million views in hours. The Cut Buddy sold over 4,000 products in a few hours when Esnard only had hundreds remaining. Demand greatly exceeded his supply, so Esnard had to scramble to increase manufacturing and offered customers two-for-one deals to make up for delays. This led to selling 55,000 units, generating $700,000 in sales in 2017. 50 After appearing on Shark Tank and landing a deal with Daymond John that gave the “shark” a 20-percent equity stake in return for $300,000, The Cut Buddy has added new distribution channels to include retail sales along with online commerce. Changing one aspect of a business plan—the marketing plan—yielded success for The Cut Buddy.

Link to Learning

Watch this video of Cut Buddy’s founder, Joshua Esnard, telling his company’s story to learn more.

If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept. This version is used to interest potential investors, employees, and other stakeholders, and will include a financial summary “box,” but it must have a disclaimer, and the founder/entrepreneur may need to have the people who receive it sign a nondisclosure agreement (NDA) . The full business plan is aimed at executing the vision concept, providing supporting details, and would be required by financial institutions and others as they formally become stakeholders in the venture. Both are aimed at providing a picture and roadmap to go from conception to creation.

Types of Business Plans

The brief business plan is similar to an extended executive summary from the full business plan. This concise document provides a broad overview of your entrepreneurial concept, your team members, how and why you will execute on your plans, and why you are the ones to do so. You can think of a brief business plan as a scene setter or—since we began this chapter with a film reference—as a trailer to the full movie. The brief business plan is the commercial equivalent to a trailer for Field of Dreams , whereas the full plan is the full-length movie equivalent.

Brief Business Plan or Executive Summary

As the name implies, the brief business plan or executive summary summarizes key elements of the entire business plan, such as the business concept, financial features, and current business position. The executive summary version of the business plan is your opportunity to broadly articulate the overall concept and vision of the company for yourself, for prospective investors, and for current and future employees.

A typical executive summary is generally no longer than a page, but because the brief business plan is essentially an extended executive summary, the executive summary section is vital. This is the “ask” to an investor. You should begin by clearly stating what you are asking for in the summary.

In the business concept phase, you’ll describe the business, its product, and its markets. Describe the customer segment it serves and why your company will hold a competitive advantage. This section may align roughly with the customer segments and value-proposition segments of a canvas.

Next, highlight the important financial features, including sales, profits, cash flows, and return on investment. Like the financial portion of a feasibility analysis, the financial analysis component of a business plan may typically include items like a twelve-month profit and loss projection, a three- or four-year profit and loss projection, a cash-flow projection, a projected balance sheet, and a breakeven calculation. You can explore a feasibility study and financial projections in more depth in the formal business plan. Here, you want to focus on the big picture of your numbers and what they mean.

The current business position section can furnish relevant information about you and your team members and the company at large. This is your opportunity to tell the story of how you formed the company, to describe its legal status (form of operation), and to list the principal players. In one part of the extended executive summary, you can cover your reasons for starting the business: Here is an opportunity to clearly define the needs you think you can meet and perhaps get into the pains and gains of customers. You also can provide a summary of the overall strategic direction in which you intend to take the company. Describe the company’s mission, vision, goals and objectives, overall business model, and value proposition.

Rice University’s Student Business Plan Competition, one of the largest and overall best-regarded graduate school business-plan competitions (see Telling Your Entrepreneurial Story and Pitching the Idea ), requires an executive summary of up to five pages to apply. 51 , 52 Its suggested sections are shown in Table 11.2 .

Are You Ready?

Create a brief business plan.

Fill out a canvas of your choosing for a well-known startup: Uber, Netflix, Dropbox, Etsy, Airbnb, Bird/Lime, Warby Parker, or any of the companies featured throughout this chapter or one of your choice. Then create a brief business plan for that business. See if you can find a version of the company’s actual executive summary, business plan, or canvas. Compare and contrast your vision with what the company has articulated.

  • These companies are well established but is there a component of what you charted that you would advise the company to change to ensure future viability?
  • Map out a contingency plan for a “what-if” scenario if one key aspect of the company or the environment it operates in were drastically is altered?

Full Business Plan

Even full business plans can vary in length, scale, and scope. Rice University sets a ten-page cap on business plans submitted for the full competition. The IndUS Entrepreneurs , one of the largest global networks of entrepreneurs, also holds business plan competitions for students through its Tie Young Entrepreneurs program. In contrast, business plans submitted for that competition can usually be up to twenty-five pages. These are just two examples. Some components may differ slightly; common elements are typically found in a formal business plan outline. The next section will provide sample components of a full business plan for a fictional business.

Executive Summary

The executive summary should provide an overview of your business with key points and issues. Because the summary is intended to summarize the entire document, it is most helpful to write this section last, even though it comes first in sequence. The writing in this section should be especially concise. Readers should be able to understand your needs and capabilities at first glance. The section should tell the reader what you want and your “ask” should be explicitly stated in the summary.

Describe your business, its product or service, and the intended customers. Explain what will be sold, who it will be sold to, and what competitive advantages the business has. Table 11.3 shows a sample executive summary for the fictional company La Vida Lola.

Business Description

This section describes the industry, your product, and the business and success factors. It should provide a current outlook as well as future trends and developments. You also should address your company’s mission, vision, goals, and objectives. Summarize your overall strategic direction, your reasons for starting the business, a description of your products and services, your business model, and your company’s value proposition. Consider including the Standard Industrial Classification/North American Industry Classification System (SIC/NAICS) code to specify the industry and insure correct identification. The industry extends beyond where the business is located and operates, and should include national and global dynamics. Table 11.4 shows a sample business description for La Vida Lola.

Industry Analysis and Market Strategies

Here you should define your market in terms of size, structure, growth prospects, trends, and sales potential. You’ll want to include your TAM and forecast the SAM . (Both these terms are discussed in Conducting a Feasibility Analysis .) This is a place to address market segmentation strategies by geography, customer attributes, or product orientation. Describe your positioning relative to your competitors’ in terms of pricing, distribution, promotion plan, and sales potential. Table 11.5 shows an example industry analysis and market strategy for La Vida Lola.

Competitive Analysis

The competitive analysis is a statement of the business strategy as it relates to the competition. You want to be able to identify who are your major competitors and assess what are their market shares, markets served, strategies employed, and expected response to entry? You likely want to conduct a classic SWOT analysis (Strengths Weaknesses Opportunities Threats) and complete a competitive-strength grid or competitive matrix. Outline your company’s competitive strengths relative to those of the competition in regard to product, distribution, pricing, promotion, and advertising. What are your company’s competitive advantages and their likely impacts on its success? The key is to construct it properly for the relevant features/benefits (by weight, according to customers) and how the startup compares to incumbents. The competitive matrix should show clearly how and why the startup has a clear (if not currently measurable) competitive advantage. Some common features in the example include price, benefits, quality, type of features, locations, and distribution/sales. Sample templates are shown in Figure 11.17 and Figure 11.18 . A competitive analysis helps you create a marketing strategy that will identify assets or skills that your competitors are lacking so you can plan to fill those gaps, giving you a distinct competitive advantage. When creating a competitor analysis, it is important to focus on the key features and elements that matter to customers, rather than focusing too heavily on the entrepreneur’s idea and desires.

Operations and Management Plan

In this section, outline how you will manage your company. Describe its organizational structure. Here you can address the form of ownership and, if warranted, include an organizational chart/structure. Highlight the backgrounds, experiences, qualifications, areas of expertise, and roles of members of the management team. This is also the place to mention any other stakeholders, such as a board of directors or advisory board(s), and their relevant relationship to the founder, experience and value to help make the venture successful, and professional service firms providing management support, such as accounting services and legal counsel.

Table 11.6 shows a sample operations and management plan for La Vida Lola.

Marketing Plan

Here you should outline and describe an effective overall marketing strategy for your venture, providing details regarding pricing, promotion, advertising, distribution, media usage, public relations, and a digital presence. Fully describe your sales management plan and the composition of your sales force, along with a comprehensive and detailed budget for the marketing plan. Table 11.7 shows a sample marketing plan for La Vida Lola.

Financial Plan

A financial plan seeks to forecast revenue and expenses; project a financial narrative; and estimate project costs, valuations, and cash flow projections. This section should present an accurate, realistic, and achievable financial plan for your venture (see Entrepreneurial Finance and Accounting for detailed discussions about conducting these projections). Include sales forecasts and income projections, pro forma financial statements ( Building the Entrepreneurial Dream Team , a breakeven analysis, and a capital budget. Identify your possible sources of financing (discussed in Conducting a Feasibility Analysis ). Figure 11.19 shows a template of cash-flow needs for La Vida Lola.

Entrepreneur In Action

Laughing man coffee.

Hugh Jackman ( Figure 11.20 ) may best be known for portraying a comic-book superhero who used his mutant abilities to protect the world from villains. But the Wolverine actor is also working to make the planet a better place for real, not through adamantium claws but through social entrepreneurship.

A love of java jolted Jackman into action in 2009, when he traveled to Ethiopia with a Christian humanitarian group to shoot a documentary about the impact of fair-trade certification on coffee growers there. He decided to launch a business and follow in the footsteps of the late Paul Newman, another famous actor turned philanthropist via food ventures.

Jackman launched Laughing Man Coffee two years later; he sold the line to Keurig in 2015. One Laughing Man Coffee café in New York continues to operate independently, investing its proceeds into charitable programs that support better housing, health, and educational initiatives within fair-trade farming communities. 55 Although the New York location is the only café, the coffee brand is still distributed, with Keurig donating an undisclosed portion of Laughing Man proceeds to those causes (whereas Jackman donates all his profits). The company initially donated its profits to World Vision, the Christian humanitarian group Jackman accompanied in 2009. In 2017, it created the Laughing Man Foundation to be more active with its money management and distribution.

  • You be the entrepreneur. If you were Jackman, would you have sold the company to Keurig? Why or why not?
  • Would you have started the Laughing Man Foundation?
  • What else can Jackman do to aid fair-trade practices for coffee growers?

What Can You Do?

Textbooks for change.

Founded in 2014, Textbooks for Change uses a cross-compensation model, in which one customer segment pays for a product or service, and the profit from that revenue is used to provide the same product or service to another, underserved segment. Textbooks for Change partners with student organizations to collect used college textbooks, some of which are re-sold while others are donated to students in need at underserved universities across the globe. The organization has reused or recycled 250,000 textbooks, providing 220,000 students with access through seven campus partners in East Africa. This B-corp social enterprise tackles a problem and offers a solution that is directly relevant to college students like yourself. Have you observed a problem on your college campus or other campuses that is not being served properly? Could it result in a social enterprise?

Work It Out

Franchisee set out.

A franchisee of East Coast Wings, a chain with dozens of restaurants in the United States, has decided to part ways with the chain. The new store will feature the same basic sports-bar-and-restaurant concept and serve the same basic foods: chicken wings, burgers, sandwiches, and the like. The new restaurant can’t rely on the same distributors and suppliers. A new business plan is needed.

  • What steps should the new restaurant take to create a new business plan?
  • Should it attempt to serve the same customers? Why or why not?

This New York Times video, “An Unlikely Business Plan,” describes entrepreneurial resurgence in Detroit, Michigan.

  • 48 Chris Guillebeau. The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future . New York: Crown Business/Random House, 2012.
  • 49 Jonathan Chan. “What These 4 Startup Case Studies Can Teach You about Failure.” Foundr.com . July 12, 2015. https://foundr.com/4-startup-case-studies-failure/
  • 50 Amy Feldman. “Inventor of the Cut Buddy Paid YouTubers to Spark Sales. He Wasn’t Ready for a Video to Go Viral.” Forbes. February 15, 2017. https://www.forbes.com/sites/forbestreptalks/2017/02/15/inventor-of-the-cut-buddy-paid-youtubers-to-spark-sales-he-wasnt-ready-for-a-video-to-go-viral/#3eb540ce798a
  • 51 Jennifer Post. “National Business Plan Competitions for Entrepreneurs.” Business News Daily . August 30, 2018. https://www.businessnewsdaily.com/6902-business-plan-competitions-entrepreneurs.html
  • 52 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition . March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf
  • 53 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition. March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf; Based on 2019 RBPC Competition Rules and Format April 4–6, 2019. https://rbpc.rice.edu/sites/g/files/bxs806/f/2019-RBPC-Competition-Rules%20-Format.pdf
  • 54 Foodstart. http://foodstart.com
  • 55 “Hugh Jackman Journey to Starting a Social Enterprise Coffee Company.” Giving Compass. April 8, 2018. https://givingcompass.org/article/hugh-jackman-journey-to-starting-a-social-enterprise-coffee-company/

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A Manager’s Guide to Successful Strategy Implementation

Team members discussing business strategy implementation

  • 16 Jan 2024

To address business challenges and concerns, organizations must constantly monitor, evaluate, and adjust their strategic initiatives . When it’s time to implement a new strategy, it’s typically up to managers to do so.

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What Is Strategy Implementation?

According to the online course Strategy Execution , strategy implementation is the process of turning plans into action to reach business goals and objectives . In other words, it’s the art of getting stuff done.

Your organization’s success rests on your ability to implement decisions and execute processes efficiently, effectively, and consistently. Yet, that’s often easier said than done.

“If you've looked at the news lately, you've probably seen stories of businesses with great strategies that have failed,” says Harvard Business School Professor Robert Simons, who teaches Strategy Execution . “In each, we find a business strategy that was well formulated but poorly executed.”

You can learn a lot from failed strategies , and understanding how to implement a successful one is vital to leading change. Here are steps you can take to effectively roll out your business strategy .

4 Steps in the Strategy Implementation Process

1. handle tension.

Making tough choices isn’t easy, and you need to manage any tension that arises with change.

In strategy implementation, tension often exists between innovating to grow your business and controlling internal processes and procedures.

For example, leaders at ride-hailing company Uber have faced challenges in balancing growth and control. While Uber has transformed the transportation industry, its need to expand has led to several instances of misconduct due to insufficient internal controls .

You can manage tension and find balance by designing and implementing levers of control , which comprise:

  • Belief systems : Organizational definitions you communicate and reinforce to provide direction to employees
  • Boundary systems : Negatively phrased statements that tell employees what behaviors are forbidden
  • Diagnostic control systems : Formal information systems that help monitor organizational outcomes
  • Interactive control systems : Formal systems managers use to involve themselves in subordinates' decisions that impact strategic uncertainties

These levers help create opposing forces throughout strategy implementation that continuously balance each other. While half of them (belief systems and interactive control systems) promote innovation and inspiration, the others (boundary systems and diagnostic control systems) establish boundaries and threats of punishment when employees cross the line.

To ensure your strategy execution succeeds , use the power of tension when designing management control systems.

2. Align Job Design to Strategy

No matter how well-formulated your business strategy is, it can’t succeed without your team. To prime employees for success, it’s essential to design jobs with strategy in mind.

Job design is structuring jobs’ components to enhance organizational efficiency. Its common elements include task allocation, job development, and feedback and communication.

“Job design is a critical part of strategy execution,” Simons says in Strategy Execution . “If individuals don't have the resources they need and aren’t accountable in the right way, they won’t be able to work to their potential.”

According to Simons, you can use the Job Design Optimization Tool (JDOT) to design or test jobs by analyzing their balance of demands and resources.

The tool prompts you to consider:

  • What resources do employees have to get the job done?
  • What measure will we use to evaluate their performance?
  • Who must they influence to achieve their goals?
  • How much support can they expect when reaching out for help?

By answering these questions and ensuring they align with your strategy, employees can directly support your initiatives.

Strategy Execution | Successfully implement strategy within your organization | Learn More

3. Inspire Employee Buy-In

Even if you position employees for success through effective job design, you must still gain their buy-in for strategic goals . According to a Gallup survey , organizations with strong employee engagement experience 10 percent greater customer loyalty and 23 percent higher profitability.

You can garner their support by communicating your organization’s core values —its purpose that impacts what employees should do and how they should act.

According to Strategy Execution , effective core values possess two attributes:

  • Inspiration: They make employees proud of where they work.
  • Guidance: They ensure employees know whose interests to prioritize when making difficult decisions.

Communicating your organization’s core values doesn’t just help bolster support for strategic initiatives; it also provides employees with a purpose to improve performance and workplace accountability .

Another useful tool is ranking systems.

“Ranking systems—which are quite common in practice—have really good features that managers can use to stimulate performance,” says HBS Professor Susan Gallani in Strategy Execution .

Ranking systems provide clear measures—like leadership capabilities—for employees to determine their ownership in your business strategy. Gallani says establishing such measures helps eliminate unknowns that create anxiety.

“What the ranking system does—it takes that shock away,” Gallani says in Strategy Execution . “Everybody's compared at the same level, and that's good because it really highlights the individual contribution of different workers and points out who did better and who did worse.”

By implementing ranking systems, achievement-driven employees can be more likely to invest in your business strategy.

Related: How to Get Employee Buy-In to Execute Your Strategic Initiatives

4. Manage Risk

Even if you take these steps when implementing your business strategy, your initiatives can still fail.

“Competing successfully in any industry involves some level of risk,” Simons says in Strategy Execution . “But high-performing businesses with high-pressure cultures are especially vulnerable. As a manager, you need to know how and why these risks arise and how to avoid them.”

Engaging in risk management —the systematic process of identifying, assessing, and mitigating threats or uncertainties that can affect your organization—is crucial to long-term success.

Three types of pressures that make you vulnerable to risk are:

  • Information management

Business risks aren’t always obvious, making it critical to identify unexpected events or conditions that could impede your organization’s business strategy .

“I think one of the challenges firms face is the ability to properly identify their risks,” says HBS Professor Eugene Soltes in Strategy Execution .

For example, the automotive industry heavily relies on semiconductors. However, due to an unexpected disruption in manufacturing priorities during the COVID-19 pandemic, companies had to navigate production during a semiconductor shortage .

By understanding your strategy’s vulnerabilities, you can prevent failures because of unanticipated events and protect your organization from challenges like increased market competition, evolving technologies, and shifting customer needs .

How to Formulate a Successful Business Strategy | Access Your Free E-Book | Download Now

Learn How to Oversee Strategy Implementation

Implementing strategy successfully is challenging.

By taking an online strategy course , such as Strategy Execution , you can draw insights from real-world business examples and build the strategy execution skills and knowledge to achieve your organization’s objectives.

Do you want to improve your strategy implementation? Explore Strategy Execution —one of our online strategy courses —and download our free strategy e-book to take the first step toward doing so.

This post was updated and republished on January 16, 2024. It was originally published on February 25, 2020.

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About the Author

From Strategy to Execution: How to Create a Sustainable, Repeatable Implementation Plan

By Kate Eby | December 14, 2017

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In this article, you’ll learn the fundamental elements of a strategic implementation process, and how you can create a comprehensive implementation plan. We’ve also included free, downloadable implementation plan templates to get you started. 

Included on this page, you’ll find the components of an implementation plan , how to write an implementation plan , and tools for successful implementation planning .

What Is an Implementation Strategy?

An implementation strategy is based on a strategic plan , which defines the strategy used to accomplish certain goals or make decisions. Organizations can make strategic plans to guide organizational direction, a particular department’s efforts, or any project or initiative.

Implementation strategy is the process of defining how to bring the strategic plan to life. To execute the objectives outlined in the strategic plan, you must define how you will implement each aspect, from funding and personnel to organization and deliverables. Therefore, without an implementation strategy, it can be difficult to identify how you will achieve each of your stated goals and objectives. 

Ray McKenzie

Ray McKenzie is the Founder and Managing Director of Red Beach Advisors . He breaks down the differences between strategy, implementation, and execution: “Implementation planning is the act of developing a tactical plan to complete a strategic initiative. Strategy is the overarching plan to move the organization, department, or project forward. Implementation is the act of putting the strategy into place utilizing resources within an organization or department. Execution is completing the tasks as part of the implementation plan to complete the strategic initiative through resources of the organized team.”

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What Is the Strategic Implementation Process?

The strategic implementation process refers to the concrete steps that you take to turn your strategic plan into action. The implementation tactics you use and steps you take will depend on the specific undertaking, organization, and goals.

A strategic implementation plan (SIP) is the document that you use to define your implementation strategy. Typically, it outlines the resources, assumptions, short- and long-term outcomes, roles and responsibilities, and budget. (Later on, we’ll show you how to create one.) An SIP is often integrated with an execution plan , but the two are distinct. 

The SIP outlines the activities and decisions necessary to turn the strategic goals into reality, and the execution plan is a schedule of concrete actions and activities to achieve goals and drive success. You can consider your strategy “implemented” once you determine that you have the requisite resources to meet your strategic needs, but you haven’t “executed” until you’ve actually taken action and achieved objectives. You can read more about the differences between strategy, implementation, and execution in this article by the Harvard Business Review . 

The strategic implementation process is often compared to the following activities:

Jen Hancock

Jennifer Hancock is the author of several books and Founder of Humanist Learning Systems , an organization that provides online personal and professional development training in humanistic business management, along with science-based harassment training. She describes the difference between organizational and implementation planning: “Organizational planning is the structure of the organization: What work needs to be done? How does it relate to the other work that needs to be done? Who is responsible for getting it done? How are the parts of the organization going to work together to accomplish shared objectives? Implementation planning has to do with specific projects and processes. For instance, an organization may have an HR department — that is, organizational planning. Implementation is when the HR department rolls out a new set of benefits or a new health care plan.”

Organizational Change Management

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  • Strategic Management Process: This is the ongoing effort to manage an organization, including both the decisions and actions that flow from the organizational strategy. Continuous strategic management can inform organizational planning by providing a strategy that outlines the organization’s goals. 
  • Change Management: Change management is how you prepare and manage organizational planning, from the high-level processes and culture down to individual roles. Effective change management involves strategy and careful monitoring so that you can plan for change rather than react to it. 

Change Management Process Template

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  • Differentiated Planning: This is a reordering method that you can use to identify which resources you need based on the frequency with which you typically use them. Separate the items on your reorder list into three categories: routine, regular, and rare. This will give you a rough idea of the different demand levels for each resource, so you don’t have to spend time considering whether or not to restock. Because identifying and accumulating resources is an important component of implementation planning, it’s useful to understand differentiated planning. 

Why Implementation Is Important

Implementation planning largely determines project success because without it, your strategic goals remain unactionable. Therefore, implementation is the necessary step that transforms your strategic plans into action to achieve your goals. 

There are many examples where implementation planning heightens project success. In fact, the Harvard Business Review reported that companies with an implementation and execution plan saw 70 percent greater returns. 

McKenzie says that implementation planning is critical to project success. “This is the stage which allows the planned strategy to be executed,” he says. “The primary benefits to implementation and implementation planning are the abilities to outline the tasks needed to complete the project, identify the personnel and resources needed, and document the timeline for project completion to ensure you’re meeting the strategic goals.”

Hancock agrees. “If you don’t implement your plan — you don’t get anything done,” she says. “So, implementation is crucial. [Even] if you have the best plan in the world, it’s totally irrelevant if you don’t put the plan into action,” she adds.

Fiona Adler

Fiona Adler writes about entrepreneurship at DoTheThings.com and is the Founder of Actioned.com , a productivity tool for individuals and teams. With an MBA, multiple business successes, and a family living in a foreign country, she enjoys pushing the envelope to get the most out of life and loves helping others do the same. Adler explains that implementation is often more crucial than the strategy itself. She says, “In my opinion, implementation is far more important than strategic planning. After all, it doesn't matter if you have the best plan in the world. All that really matters is what you end up doing!”

The practice of implementation planning is also important in some of today’s organizational shifts. Most notably, implementation plays a part in the current shift from reactionary to strategic companies — in other words, organizations that plan for change and adaptation rather than react to it. Additionally, implementation supports the movement toward employee-oriented organizations, which it does by valuing communication, encouraging mutually-supported goals, and emphasizing accountability. Implementation planning is necessarily a human (and team) endeavor and making it a part of your daily processes helps ensure collaboration, trust, and transparency among project team members all the way up to C-suite management. 

What Is the Implementation Plan of a Project?

Implementation plans are commonly used for discrete projects, technology deployment within a company, and inventory planning. You can also create an implementation plan for personal use if it will help you organize and take actionable steps toward your goal(s).

A project implementation plan is the plan that you create to successfully move your project plan into action. This document identifies your goals and objectives (both short and long-term), lists the project tasks, defines roles and responsibilities, outlines the budget and necessary resources, and lists any assumptions. A project implementation plan sometimes includes a rough schedule, but teams usually set the hard timeline in the execution plan. 

In the following sections, we’ll delve deeper into each component of an implementation plan and show you how to write your own. 

Components of an Implementation Plan

The following are the key components of and questions that drive a successful implementation plan:

  • Define Goals/Objectives: What do you want to accomplish? The scope of these goals will depend on the size of your undertaking.
  • Schedule Milestones: While task deadlines and project timelines will be formally set in the execution plan, it’s a good idea to outline your schedule in the implementation phase.
  • Allocate Resources: One of the core purposes of an implementation plan is to ensure that you have adequate resources (time, money, and personnel) to successfully execute. So, gather all the data and information you need to determine whether or not you have sufficient resources, and decide how you will procure what’s missing.
  • Designate Team Member Responsibilities: Assign roles. This doesn’t necessarily mean you must define who will execute each individual task, but you should create a general team plan with overall roles that each team member will play. 
  • Define Metrics for Success: How will you determine whether or not you are successful? What data (whether quantitative or qualitative) will you use to measure your results, and how will you accrue the necessary data?
  • Define How You Will Adapt: Make a plan for how you will adapt, if necessary, to changes in your plan. Be sure to consider factors outside your control that could significantly alter the schedule or success of your project, and create emergent strategies ahead of time, so you don’t get derailed down the road — doing so helps build a culture of flexibility, agility, and fast action. 
  • Evaluate Success: In addition to defining your metrics for success, decide how often you will evaluate your progress (e.g., quarterly reviews). 

In the following section, we’ll break down each element of a successful implementation plan to show you how to write one yourself. 

How to Write an Implementation Plan

Implementation plans are split into sections. Each section should be detailed, combining the information from your strategic plan and incorporating the necessary research and data to make your objectives actionable. Here’s how to write each component in an implementation plan:

  • Introduction: The introduction of your implementation plan explains the purpose, vision, and mission statement of your project or initiative. You should identify the high-level risk areas, include any assumptions, and describe how you will identify the value stream in your proposed work. 
  • Management Overview: In this section, you describe how implementation will be managed. This includes who is managing it, the underlying roles and responsibilities, and key points of contact. You should identify the strategy director, who is the person that develops and steers the strategy (this may or not be the same person who is leading implementation). 
  • Major Tasks: This is where you list and describe the specific tasks, actions, and targets in implementation. You should also note the status of any tasks that are already in progress. 
  • Implementation Schedule: You do not need to create a detailed, inflexible task schedule in your implementation plan — we’ll talk later on about how to create a schedule in the execution plan. At this stage, it’s appropriate to simply list the task order and predicted phase durations to roughly outline and allot for all the many moving pieces. 
  • Security and Privacy: Discuss the privacy features and considerations of the software tools, processes, or information that you may use in implementation. Address security issues and how to handle sensitive information (personal data, medical history, financials, etc.). 
  • Implementation Support/Resources List: Describe the various tools, activities, and departments that you require to support successful implementation. These might include hardware or software tools, facilities, and additional external human resources or services.
  • Documentation: In this section, you must attach any other documentation that supports your implementation plan. This could include your strategic plan, confirmation of adequate materials and resources, and a history of past successful projects. 
  • Monitoring Performance: Define the metrics by which you will measure success. How and when will you review your progress? 
  • Acceptance Criteria: How will you define implementation “completion?” This differs from performance monitoring because rather than defining metrics for milestones and appropriate implementation, here, you describe how you will know when you have buy-in from management on your implementation plan. 
  • Glossary: Define any key terms used in your implementation plan. 
  • References: Indicate where you received your information, or list people who support your plan.
  • Project Approval: If you need management’s approval before moving into execution, this section provides space for official signoff. 

To make it easy, you can also use a template to write your implementation plan. This will ensure that you don’t overlook any steps or sections and also provide a professional layout that you can use to deliver to management, clients, or other stakeholders. Download the template for free, and edit the fields to fit the needs of your specific project  — for example, for enterprise resource planning (ERP) . 

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‌ Download Project Implementation Plan Template - Word

Software deployment is another common category of initiative that merits an implementation plan. Use the following template to create a software and systems implementation plan. 

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‌ Download Software Systems Implementation Plan Template - Word

Implementation Planning Best Practices

Although you should include all the detailed aspects listed above in your implementation plan, simply having all these components will not ensure success. Instead, you should focus on the process of implementation and foster the following behaviors within your team:

  • Create a Designated Implementation Team: An implementation team is the team responsible for ensuring successful implementation of a particular initiative. While it’s possible to move through implementation without creating a specific, organized body to oversee the processes, doing so heightens your chances of success. 
  • Create a Shared Vision among All Team Members: Establish “why” you are making strategic changes so that team members have both a greater understanding of the root cause and a deeper connection to their work. Ensure individual compliance, so people don’t feel like their voices went unheard. Adler emphasizes, “Involve the people who will actually be implementing the change during the planning phase. Ideally, the idea will even come from them. This inclusion greatly increases the buy-in and commitment that the team has to actually getting the project implemented.”
  • Choose a Strong Team Leader: The team leader should coach and educate team members along the way and seek out guidance from past implementation plan leaders to improve upon existing implementation processes within the organization. Adler explains that there can be multiple team leaders with slightly different responsibilities: “Each initiative needs a team. The team includes a ’champion,’ someone who is ultimately responsible for getting the thing done. They should also have a ’management sponsor,’ someone that can help the team get through any blocks they might have,” she says.
  • Define Actionable Goals: Stay specific, define current issues, and identify root causes. Methods for defining current problems include brainstorming, surveys, and new member information forms. You can also use the note card method: Ask each team member to answer three questions anonymously ( What is the single biggest issue facing our team?, What will be the most important issue in five years?, What is the best way for our team to be involved in these issues? ), separate the cards into piles with similar answers, and count which answers are the most common within the group. Use the highest ranking similar answers to stimulate discussion of how to proceed. 
  • Create an Action-Oriented Plan: Regardless of the size or predicted duration of your goals, create a plan focused on incremental action (rather than on continual planning). Small steps add up, so stay positive and focus on the future. That said, Hancock reiterates that your plan must be realistic: “Make sure your plan is reality-based,” she says. “You need to know what problem you really should be solving so that you don’t end up solving proxy problems (problems you think are your problem but really aren’t — an example of this is praying for rain when your real problem is that you need water on your field). You need to know what is really going to impact your problem so that you don’t pray for rain, which doesn’t affect anything. And, finally, you need to know what you really need to do to get the work done. What resources do you need? Do you have the resources you need? Can you get the resources you need? If not, your plan won’t work” she continues.
  • Value Communication: The team leader should not only value others’ input, but also make active participation an expectation. Open, honest communication keeps processes transparent and helps generate new ideas. 
  • Continually Monitor Incremental Success: Perform analysis and hold regular progress meetings to analyze your development. Closely monitoring your progress enables you to make adjustments before crisis hits and allows you to adapt before processes or expectations become solidified. Additionally, treating incremental milestones as successes helps foster a culture where employees feel valued for their contributions. Adler explains, “Building a culture where employees expect that projects will be successfully implemented is important. Celebrate successes and reference previous projects frequently.”
  • Involve the Correct People at the Correct Times: This includes defining when and why it is appropriate to involve upper management. As McKenzie says, “Include the critical stakeholders that are part of the project. The beginning of planning should only include the decision makers and not every team member that is part of the project. Outline the critical tasks that are needed first. Once the tasks are outlined, dictate the personnel who will be responsible for the tasks. Once you identify the personnel, then bring in the additional resources to find what other tasks are needed to complete the larger tasks. To draft a proper implementation plan, it is imperative to include the critical stakeholders to outline the initiative.”
  • Publicize Your Plan: While you don’t necessarily want every stakeholder’s input at all times during implementation planning, you do want to maintain transparency with other teams and management. Make your plan available to higher-ups to keep your team accountable down the line.

Difficulties in Implementation Planning

While implementation planning is critical to successful execution, there are several hurdles:

  • Unless you are disciplined about moving into the execution phase, you can get stuck in planning and never get your project off the ground. 
  • In any project, you may struggle to gain buy-in from key stakeholders. 
  • It can also be difficult to break down every goal into an actionable step. If you keep your goals tangible, you can more easily identify targeted actions that will move you toward them. 
  • No matter how well you plan, all projects have a high propensity for failure. Don’t get discouraged, though — dedicated, strategic implementation planning will raise the likelihood of project success. 

Although the above hurdles can be time-consuming and tedious, they are investments that will help you create a culture of trust. Because implementation is an ongoing team effort, you can’t afford to lack buy-in and commitment from any member of your team or direct stakeholders. So, communicate often and honestly, and prioritize teamwork when implementing your strategic plan. 

Still, even though inclusion and teamwork are key to a successful strategy, McKenzie reiterates that implementation planning won’t work if too many people are involved. “Implementation planning often gets derailed due to the input from various people that are not involved in the project,” he says. “There needs to be a clear line between the implementation team who is responsible for the execution and final project completion and the customers, internal or external, who are the recipients of the project. The customers can outline their requirements, but the implementation, tasks, and deliverables should be guided by the implementation team,” he concludes.

Adler explains that another common mistake is taking on too much at once. “It takes a lot of work to get something significantly new implemented,” she notes. “For this reason, the fewer initiatives the business takes on simultaneously, the greater the chances of success. Each initiative will take its team members away from their 'normal' work to some degree, and the business needs to be able to support this. If there are six things the business wants to implement, it is better to take on one or two at a time than to try to tackle all six at once,” she points out.

Tools for Successful Implementation Planning

While the implementation plan itself is a relatively low-tech document, software tools can help you track and manage your progress. From Gantt charts to advancements in information and communication technology, you’ll find popular implementation planning tools and their benefits below.

A Gantt chart is a graphical bar chart that you can use as a project timeline, and many software programs exist that allow you to create these online charts. As you move from implementation to execution, a Gantt chart can help you track individual task progress, see relationships among tasks, and identify critical or at-risk tasks. 

Basic Gantt Chart Template

Download Basic Gantt with Dependencies Template 

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You can use a PERT (program evaluation and review technique) chart to forecast project duration by creating a timeline for individual tasks and identifying dependent tasks. PERT requires you to forecast three separate timetables — the shortest possible, the most likely, and the longest possible — which forces you to stay flexible in your planning, so you can adapt your schedule as factors inevitably change over the course of a project. 

When you have successfully implemented your plan, you’re ready to move to project execution. Execution planning and monitoring is outside the scope of this article, but below you’ll find more helpful templates to move your project toward successful completion. 

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Download General Action Plan Template

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Download Project Timeline Template

Project Charter Template

Download Project Charter Template 

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Advancements in information and communication technology (ICT) have led to the development of cloud-based software that allows for anytime, anywhere access and multiple users. This technological capability is especially helpful for group work, in which multiple team members need to access a certain file simultaneously while also avoiding version control issues. For example, organizations commonly use cloud-based software to create a project management system or performance management system.

Using software to manage your implementation plan can provide the following benefits:

  • Drive Accountability: By creating a single record of project progress, you build transparency (both in team members and processes) and reliability. 
  • Keep Everyone up to Date: All users can access the most current information, which, in turn, cuts out unnecessary communication or erroneous double-work. 
  • Improve Flexibility: Project management software can help you identify bottlenecks and potential problems early on, so you are able to adapt in anticipation. If you are attempting Agile project management, flexibility is crucial. 
  • Support Organizational Commitment: Using a software tool often provides the transparency necessary to get executives to support your project. Once they have visibility into processes and progress, they will be more likely to grant the buy-in you need to procure resources and succeed.

When deciding which tool to use, consider the following:

  • Buying Tools vs. Developing Software Internally: This will depend on the capabilities and availability of your in-house developers as well as on your budget. Additionally, consider whether or not you have the bandwidth to engage with a vendor and maintain the relationship over time. 
  • Open Source vs. Free vs. Subscription: Open source software provides a great opportunity for organizations with limited budgets and development resources to build on top of the existing open platforms. There are also many free programs available (not open source). However, be wary that free options may have limited functionality. For organizations with larger budgets and a greater need for powerful functionality, most paid platforms bill on a subscription basis.
  • Usability Requirements: Consider your team’s skill level. While you might be drawn to a tool with fancy functionality, it will be pointless (and perhaps even detract from project success) if it is too difficult for your team to use or learn. 

Ultimately, software tools are a fantastic way not only to elevate the accuracy of tracking project metrics and progress, but also to save time, build flexibility, and stimulate communication among your team. 

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  • What is an implementation plan? 6 steps ...

What is an implementation plan? 6 steps to create one

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An implementation plan—also known as a strategic plan—outlines the steps your team should take when accomplishing a shared goal or objective. This plan combines strategy, process, and action and will include all parts of the project from scope to budget and beyond. In this guide, we’ll discuss what an implementation plan is and how to create one.

Projects require planning to be successful. Would you build a house without a blueprint? Probably not, because nailing pieces of wood together without a plan could lead to disaster. The same concept is true in the corporate world. An implementation plan functions as the blueprint for any shared objective. Your plan should include everything from the project strategy, to the budget, to the list of people working on the project. 

In this guide, we’ll discuss what an implementation plan is and how to create one. These steps can help you and your team prepare for projects both big and small.

What is the purpose of an implementation plan?

The purpose of an implementation plan is to ensure that your team can answer the who, what, when, how, and why of a project before moving into the execution phase. In simple terms, it's the action plan that turns your strategy into specific tasks.

What is an implementation plan?

A good way to know whether your implementation plan is effective is to hand it to someone outside of your team and see if they can understand the project in its entirety. Your implementation plan should leave no questions unanswered.

How to create an implementation plan in 6 steps

If you want your implementation plan to be comprehensive and beneficial to your project team, you’ll need to follow specific steps and include the right components. Use the following steps when creating your plan to reduce the risk of gaps in your strategy.

How to develop an implementation plan

1. Define goals

The first step in the implementation process is defining your goals . Determine what you hope to accomplish when your project is complete, like whether you hope to win over a new marketing client or revamp your internal content strategy. Starting with your project objectives in mind can help flesh out your project plan. 

Tips to consider:

Ask questions: When defining your goals, you and your team may want to ask questions about your project such as, “What are we trying to achieve with this project? What deliverables do we hope to produce? Who are the stakeholders we plan to share our project deliverables with?”

Brainstorm risk scenarios: Although you’ll perform a more in-depth risk assessment later on in your implementation plan, brainstorming potential risk scenarios early on gives you a more realistic idea of what you’re able to achieve. 

2. Conduct research

Once you have a broad idea of the project goals you want to achieve, you can hone in on these goals by conducting research such as interviews, surveys, focus groups, or observations. Your research should come from key experts in your field. These experts may be team members or external stakeholders. Your research outcomes should include a list of what your project timeline, budget, and personnel may look like.

Collaborate using shared tools: Collaboration is easier when you have the right communication tools in place to do so. Use a team collaboration tool to share your project goals and get feedback from others, regardless of their location. 

3. Map out risks

You brainstormed risk scenarios in step one of your implementation strategy, and in step three, you’ll map out all the potential risks you may face in your project. Risks can include anything from paid time off and holidays to budget constraints and loss of personnel. 

A great way to map out your risks is by using a risk register. This tool will help you prioritize project risks and prepare for them accordingly. You can also conduct a SWOT analysis , which will identify any weaknesses or threats affecting your project. 

Be flexible and proactive: Mapping out risks is more than just a preparation strategy. If you identify preventable risks during this stage of the implementation plan, you can take action to prevent those risks. This may mean adjusting your initial project goals. 

4. Schedule milestones

Scheduling your project milestones is an important step in the planning process because these checkpoints help you track your progress during execution. Milestones serve as metrics—they are a way to measure how far you’ve come in your project and how far you have left to go. 

To visualize project milestones and keep your entire team on track, use a Gantt chart . With a Gantt chart, you can visually lay out your implementation schedule and show how long you think each task will take.

Add wiggle room: Things don’t always go as planned, even if you do everything in your power to a schedule. By adding wiggle room to your schedule, you can ensure your project stays on track instead of keeping tight milestones and failing to meet them.

Clarify dependencies: Dependencies are tasks that rely on the completion of other tasks. Clarifying your dependencies makes it easier to keep the project on track and hit your milestones.

5. Assign responsibilities and tasks

Every action plan must include a list of responsibilities with team members assigned to each one. By assigning responsibilities, you can assess the performance of each team member and monitor progress more closely. Using a RACI chart can be an effective project management tool for clarifying roles and responsibilities. 

Assigning responsibilities is different from assigning individual tasks. One team member may be responsible for overseeing the project review, while you may assign three other team members to handle the delivery and communication of the project to various teams for review. When you assign responsibilities and tasks, be sure to make your expectations clear. 

Communication is key: When you assign roles, responsibilities, or tasks, it’s best to communicate why you’re choosing one team member over another. Instead of letting team members question why they have specific roles, you can use this step in the planning process as an opportunity to highlight team member strengths.

Track responsibilities in a shared tool: Having a shared tool, like project management software, can give team members clarity on who's doing what and by when.

6. Allocate resources

Resource allocation is one of the best ways to reduce risk. If you can plan out what resources you need for your project and ensure those resources will be available, you’ll avoid the risk of running out of resources mid-project. If you notice that you don’t have enough resources in this step of the implementation process, you can adjust your project accordingly before it kicks off. 

Resources may include money, personnel, software, equipment, and other physical or technical materials. Time can also be a resource because the team members you need to complete the project may be working on other projects.

Tips to consider: Ask yourself the following questions when identifying available resources for your project: 

What is the project’s priority level? 

Who is available to work on this project? 

What budget or tools are available? 

What additional resources do we need? 

Who needs to approve the resource allocation plan?

Following these steps as you create your implementation plan will increase the likelihood of hitting your project goals. Having a checklist of the items to include in your implementation plan can also lead to successful implementation. 

What to include in an implementation plan

Knowing how to create your implementation plan is crucial, but you also need to know what to include in your plan. This checklist includes the six most important items you’ll want to consider if you want to move forward with a successful project. 

Implementation plan checklist

1. Objectives

You’ll outline your project objectives in step one of the implementation process. Set your goals and decide what metrics your team will use to measure to monitor progress. By clearly identifying your project objectives, you and your team can measure progress and performance as you move forward.

2. Scope statement

You’ll set the scope of your project in step two when conducting research. Your project scope statement should outline the boundaries you’ve set for your project and broadly define what goals, deadlines, and project outcomes you’ll be working toward. Defining your project scope in the implementation plan can help prevent scope creep when you’re farther along in the project.

3. Outline of deliverables

Deliverables are the tangible goals of your project. Outlining the deliverables you hope to create can serve as a resource when managing time frames, delegating tasks, and allocating resources. 

4. Task due dates

Although the project timeline may change as your project progresses, it’s important to clarify your expected due dates during implementation planning. When you estimate task due dates, you can schedule milestones around these due dates and plan for project completion. You will commonly see Gantt charts used for strategic planning and implementation planning. This is because Gantt charts display information in a follows a linear path, similar to a timeline. 

5. Risk assessment

You’ll conduct your risk assessment in step three of the implementation process. Whether you use a   risk register , SWOT analysis , or contingency plan to identify risks , be sure to include these documents in your plan. That way, others involved in the project can look through your findings and potentially help you prevent these risks. 

6. Team member roles and responsibilities

You assigned roles and responsibilities to team members in step five of your plan, and keeping a detailed record of what these are can hold everyone accountable. Whether you use a RACI chart or another tool to clarify team member roles, there should be a place in your plan for everyone to refer to in case questions arise. 

Your implementation plan will likely be unique to the project you're working on, so it may include other components not listed above. However, you can use the six items above as your guide so you know your plan is comprehensive.

Many aspects of project implementation overlap with strategic planning. As a project manager , working on the project implementation plan while you are also working on the strategic plan can help minimize the total time spent on planning.

Another way to save time during the planning process is to house all of your plans in a work management platform. When your project team is ready to start the implementation process, everything is in one convenient place.

Benefits of having an implementation plan

There are many benefits to implementation planning, with the top benefit being an increased chance of project success. Implementing a project plan creates a roadmap for executing your project so you can prevent issues from occurring. 

Other benefits to having an implementation plan include:

Improved communication between team members and key stakeholders

Better organization and management of resources

Increased accountability for everyone involved in the project

More structured project timeline and daily workflow

Easier collaboration between team members

Going straight into the execution phase without an implementation plan may feel like walking on stage to give a speech without knowing what you’re going to say. Preparation is key for top-notch performance. 

Simplify implementation planning

Knowing the steps for implementation planning is the foundation of project management. A well-planned project leads to a successful project.

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Healthy Business Manager

Implementing the Plan

You’ve spent the last few months creating your 2022 business plan, and you’re breathing a sigh of relief. Pat yourself on the back for a moment but understand that your job is not done.

You may be able to cross creating your business plan off your to-do list, but don’t shove your hard work into a drawer and forget about it.

If you are at a loss of what to do next, here comes the fun part: implementing it. Follow these five simple steps:

Step 1: Assemble your team

Schedule time with your team to go over the details of your business plan. Talk about the who , what, where, when and how so everyone is “in the know.” Then decide what metrics need to be a priority—such as sales numbers, people numbers, or website traffic—and establish a timeline for accomplishing those goals.

Implement Your Business Plan

Step 2: Break it down into manageable chunks

Big goals can seem overwhelming until you turn them into manageable objectives. Then create an action plan for the first 90 days to identify how you will get them done.

Implement Your Plan with 90-Day Objectives

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Step 3: Delegate responsibilities

You don’t have to do everything yourself. Utilize your team's strengths, especially for those tasks you are not the best at or don’t enjoy doing. Delegating parts of your business plan to others is a great way to get everyone involved, make them feel empowered, and achieve your results faster.

Use Team Strengths to Implement Your Business Plan

Step 4: Measure results

Numbers are powerful. Put systems in place that will measure your goals’ progress. These numbers will help you determine if your goals are on track, how you can do more of what is working well, and what you need to change that is not working.

Measure Results as You Implement Your Business Plan

Credit to photo source.  Add the outside lInk. 

Step 5: Schedule regular business plan reviews

Identify a date on your calendar each week to review the progress of your business plan. During this meeting, everyone will report their metrics, brainstorm ideas, and decide on next steps.

"Good Business Planning is 9 parts execution for every 1 part strategy."

Understand that it is a working document

The only guarantee in business is that there are no guarantees. Just because you crafted a beautiful roadmap doesn’t mean everything will go according to plan. The best part about an actionable business plan is that it is not set in stone. It’s a working document that you can change or modify as situations arise throughout the year.

New Ideas will emerge

New ideas will inevitably present themselves as you work through your goals. But what happens if those ideas conflict with your business plan? Next month’s blog will discuss how to handle these unplanned but good ideas and how to NOT let them derail your business plan.

Tired of Feeling Lost in the Details?

If you’re ready to stop spinning your wheels and start implementing your plan, contact Healthy Business Manager today. We can help you get the year off to a strong, productive start!

Carol Frankenstein OBM

Experienced online entrepreneurs are often stressed and exhausted because they are juggling everything in the business.  I partner with owners to get results by managing operations. 

Bottlenecks are busted so they have the energy to focus on growth. 

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Grow your business. take back your life., certified online business manager for experienced entrepreneurs who want a strong business. this could also be where you add your one-liner..

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Thousands of student-loan borrowers are set to get emails from Biden that their balances are wiped out. Here's what happens next.

  • Biden announced $1.2 billion in student-debt cancellation for 153,000 borrowers.
  • It's a result of early implementation of a SAVE plan provision to shorten the timeline for debt relief.
  • Biden is notifying impacted borrowers on Wednesday, and it could take a few weeks for servicers to apply the relief.

Insider Today

Student-loan borrowers, check your emails — you might find a message from President Joe Biden in your inbox telling you that your debt is canceled.

On Wednesday morning, the White House and Education Department announced it would be canceling $1.2 billion in student debt for 153,000 borrowers — the result of early implementation of a provision in the SAVE income-driven repayment plan that shortens the timeline for borrowers to see relief.

Specifically, borrowers who originally took out $12,000 in loans or less and have made as few as 10 years of qualifying payments are becoming eligible to have their remaining balances wiped out .

Beginning on Wednesday, borrowers in the first batch of relief will receive emails from Biden stating: "Congratulations—all or a portion of your federal student loans will be forgiven because you qualify for early loan forgiveness under my Administration's SAVE Plan."

"I hope this relief gives you a little more breathing room," the email, a draft of which was reviewed by Business Insider, said. "I've heard from countless people who have told me that relieving the burden of their student loan debt will allow them to support themselves and their families, buy their first home, start a small business, and move forward with life plans they've put on hold."

A White House fact sheet stated that the shortened timeline to forgiveness will especially help "borrowers with smaller loans and put many on track to being free of student debt faster than ever before." Additionally, per the fact sheet, 7.5 million borrowers are enrolled in the SAVE plan, and 4.3 million of them have a $0 monthly payment.

Here's what will happen next for borrowers who are, or hope to be, eligible for SAVE plan relief.

Next steps for SAVE plan debt relief

Biden's email noted that the Education Department has already informed impacted borrowers' loan servicers that they are eligible for relief. The relief will happen automatically, and borrowers who are notified will not need to take any action.

Servicers will notify borrowers that their forgiveness has been applied, but "it may take some time for your account with your servicer to reflect this change," per the email. It recommends borrowers wait at least 21 days after being notified of the relief to contact their servicers if they still do not see the relief applied to their accounts.

The Education Department also said that beginning next week, it will start emailing borrowers not currently on the SAVE plan that they could become eligible for relief if they enroll. Borrowers already enrolled in SAVE but not included in the first batch of debt relief will have their loans automatically discharged once they meet the criteria, and the department will continue evaluating borrowers' accounts "on a regular basis," per its press release .

Biden's email also cautioned borrowers to watch out for scams and said that any notification regarding debt relief would come from [email protected], [email protected], or [email protected].

More upcoming student-debt relief

While the relief announced on Wednesday was a result of early implementation, other provisions of the SAVE plan will be going into effect in July. Those include cutting payments for undergraduate loans in half and allowing periods in deferment of forbearance to count toward forgiveness progress.

Beyond the SAVE plan, the Education Department is also planning to complete its one-time account adjustments for borrowers on income-driven repayment plans and Public Service Loan Forgiveness by July 1. The adjustments have so far given thousands of borrowers relief, but the department recommends borrowers who are not in the federal direct loan program or have federally-held loans in the Federal Family Education Loan program consolidate their loans by the end of April to benefit from the adjustment.

More broadly, on February 22 and 23, the department is holding its final negotiation session with stakeholders to help craft its second attempt at student-debt relief after the Supreme Court struck down the first plan. Once negotiations conclude, the department will prepare proposed text on the borrowers it's seeking to include in this new relief plan.

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Watch: Why student loans aren't canceled, and what Biden's going to do about it

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COMMENTS

  1. What Is Business Implementation? Definition and Tips

    Business implementations, also called a business implementation plan, is a set of steps that companies use to determine how to implement a strategic plan within company activities to achieve one or more business plan objectives.

  2. Outline 4 ways a business idea can be implemented

    Develop a Business Plan: This includes outlining the mission, objectives, target market, competition, and financial projections of the business idea. Secure Funding: Determine the funding required and explore different options such as personal savings, loans, or investors to implement the business idea.

  3. How To Write A Business Plan (2024 Guide)

    Describe Your Services or Products. The business plan should have a section that explains the services or products that you're offering. This is the part where you can also describe how they fit ...

  4. How To Implement Your Business Plan Objectives

    To make a business plan effective, you have to implement your business plan objectives. Whether you're a new business owner or a veteran returning for a refresher, here's a closer look at common strategies to implement on your business plan objectives. Key Takeaways A business plan objective is a specific goal for your business.

  5. 11.4 The Business Plan

    Create a Brief Business Plan. Fill out a canvas of your choosing for a well-known startup: Uber, Netflix, Dropbox, Etsy, Airbnb, Bird/Lime, Warby Parker, or any of the companies featured throughout this chapter or one of your choice. Then create a brief business plan for that business.

  6. A Manager's Guide to Successful Strategy Implementation

    What Is Strategy Implementation? According to the online course Strategy Execution, strategy implementation is the process of turning plans into action to reach business goals and objectives. In other words, it's the art of getting stuff done.

  7. How to Create an Implementation Plan

    A strategic implementation plan (SIP) is the document that you use to define your implementation strategy. Typically, it outlines the resources, assumptions, short- and long-term outcomes, roles and responsibilities, and budget. (Later on, we'll show you how to create one.) An SIP is often integrated with an execution plan, but the two are ...

  8. What is an implementation plan? 6 steps to create one

    An implementation plan—also known as a strategic plan—outlines the steps your team should take when accomplishing a shared goal or objective. This plan combines strategy, process, and action and will include all parts of the project from scope to budget and beyond. In this guide, we'll discuss what an implementation plan is and how to create one.

  9. How to Implement Your Business Plan with 5 Simple Steps

    Step 1: Assemble your team. Schedule time with your team to go over the details of your business plan. Talk about the who, what, where, when and how so everyone is "in the know.". Then decide what metrics need to be a priority—such as sales numbers, people numbers, or website traffic—and establish a timeline for accomplishing those goals.

  10. example of business plan

    Advertisement ariachristinepixel Answer: Bride's Entourage Executive Summary Bride's Entourage is a wedding attire shop like no other. While most retail bridal shops focus on selling wedding gowns, our focus is everything else. We will cater to the mothers of the bride and groom, bridesmaids, and flower girls.

  11. Highlight 4 ways in which a business idea can be implemented

    Highlight 4 ways in which a business idea can be implemented Get the answers you need, now! Raymondkhali Raymondkhali 26.03.2021 Business Studies Secondary School answered Highlight 4 ways in which a business idea can be implemented See answer Advertisement ...

  12. example of business plan

    question No one rated this answer yet — why not be the first? 😎 AlanDoris Good business plans are usually very extensive and include information on all parts of the firm, such as the industry, marketing, finance, employees, and other operating procedures What is a good business plan?

  13. Conroe ISD names new CFO, adopts new District of Innovation plan

    Conroe Independent School District will soon welcome a new chief financial officer and implement other changes. During a Feb. 20 meeting, the district's board of trustees unanimously approved ...

  14. what is business plan

    -is a strategy how you run your business according to your plan..usually bus.plan is quite ahead of its implementation defending on what type of year your business ends, either a calendar or fiscal year.During the planning session probably a yearly plan, you must have to go back to your business or sales history as your basis of your forecast fo...

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    2. Your team culture is important. "Culture" is a word thrown around a lot, but it's critical. I've found that only when your team feels valued, included and in a safe environment can they perform ...

  16. Next steps for SAVE plan debt relief

    Nearly 153,000 student-loan borrowers are getting debt cancellation ahead of schedule, thanks to the early implementation of a SAVE plan provision.

  17. How to draw a Business Plan?

    Final answer: Drawing a business plan involves structuring your business idea into a clear and concise document that includes an introduction, problem identification, solution presentation, potential objections, conclusion, financial projection, and implementation strategy. Explanation:

  18. After meeting with a business planner, a restaurant owner ...

    answer answered After meeting with a business planner, a restaurant owner successfully implemented a plan to increase revenue from takeout sales by 5% every month. This month, the revenue from takeout sales was $23,100.