For business owners, strategic planning helps you create a document that details the current status of the company and the direction you want to take it in. Strategic planning is important to your business because it provides a sense of direction and outlines measurable goals. Strategic planning is a tool that is useful for guiding day-to-day decisions and also for evaluating progress and changing approaches when moving forward. It’s a process that helps you, and your team, understand what the goals and objectives are and that contributes to the growth and success of your business. There are 5 key benefits of a strategy: