By Bruce W. Marcus, Contributing Editor
Editor's Note: In this second part of a two-part series, Marcus offers specific steps for small firms to follow to create their own strategic plan. You can read part one to find out the unique challenges small service firms face when creating a strategic plan.
Strategic planning is essential for small firms and step one is to define your market. Without a realistic step one, there is no step two. Here's a look at how you should begin planning...
- Geographic area, which is defined not by real estate, but by your reach, in terms of cost-effective use of time and effort. It's as far as you can travel cost effectively and with a realistic potential for a return on that investment.
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