BestWork Blog

Why a Strategic Career Plan is Similar to a Business Plan

To what extent is the approach of Life\Work Design ™ also applicable to finding freelance projects and starting a company?

This was a question Niels, one of the participants in Life\Work Design wanted to have answered.

Similar questions are regularly asked of us. “Maybe I would like to start my own business. To what extent does the approach of Life\Work Design ™ help me to achieve what I have in mind?”

It doesn’t matter whether you are looking for a job or you want to start something for yourself — the elements of a strategic career plan correspond to the elements of a business plan.

If you have gathered the elements for your strategic career plan based on Life\Work Design ™, then you also have the elements of your business plan.

A business plan is strategic management planning for your own business

In a business plan, you describe your strategy to successfully create and shape your business. It is a personal document with no particular standard. However, there are certain elements that are always reflected in a business plan.

For example, you will answer questions like:

  • What do I want to do?
  • Where am I going to settle?
  • What legal structure do I choose?
  • Is there a market for my product, and how do I get customers?
  • How much money do I need to get my plan up and running?

Ultimately, your business plan is a management tool, much like a map. It’s an outline that highlights what your company will do, how you will do it, why you will do it, and what your insight into the industry and market is.

Life\Work Design ™ is strategic management planning for yourself

Managing your career with Life\Work Design ™ is a process that requires management planning. To outline that forward-looking policy, you need a lot of information — information about yourself and information about the labor market.

This requires taking an in-depth look at your goals and skills, as well as creating a proactive plan for bringing your BestWork to life. If you want to successfully shape and control your career, then you need a good strategy.

Managing your career with Life\Work Design ™ is strategic management planning.

Similarities between a business plan and a strategic career plan

The Life\Work Design ™ strategy is the same as when an entrepreneur wants to put his product or service on the market.

If you want to be successful as an entrepreneur, you must carefully consider your product or service and your marketing strategy.

There is no difference for you as a job seeker.

If you want to be successful as an entrepreneur, you must carefully consider your product or service and your marketing strategy. Click To Tweet

How the elements of a strategic career plan correspond to the elements of a business plan

1. Personal qualities and skills

In a business plan:

  • What are your personal qualities and skills as an entrepreneur?
  • What makes you particularly suitable to be an entrepreneur?
  • What qualities do you have and what qualities could you possibly need to hire for in order to be successful as an entrepreneur?

In a strategic career plan:

  • What are you particularly good at?
  • What are the top five qualities you love most about the work you do and that you are relatively good at?
  • Which qualities do you need to develop further to realize your ideal job?

2. Your personal mission and your work-related mission

In a business plan:

  • Why are you starting this business?
  • What is your mission and what are your goals with your business?
  • Why do you want to be an entrepreneur right now?

In a strategic career plan:

  • What does work mean for you?
  • What contribution do you want to deliver with the work you do?
  • How does your work relate to other matters that are important to you?
  • Based on your personal mission regarding work, what personal strengths do you want to use in the work you do?

3. Issues for which you are the solution

In a business plan:

  • How do you describe the current situation of your customers or clients?
  • Which problems do they have and how do they solve them now?
  • How can you substantiate your solutions with facts?

In a strategic career plan:

  • What are the needs of the labor market?
  • What professional skills are necessary when we look at new developments?
  • What problem do you solve for employers?

4. Description of your product or service

In a business plan:

  • What solution do you provide for the problem you identified?
  • What do you want to achieve with your service or product, and how is this process going?

In a strategic career plan:

  • What does your profile of your ideal job look like?
  • What is your work profile?
  • What is the product (you) that you want to put on the market?

5. Your target audience

In a business plan:

  • What does your target audience look like?
  • Where does your target audience want to receive your product or service?
  • Where are your opportunities?

In a strategic career plan:

  • Where is the need for people like you?
  • Where do you actually find the problems for which you are the solution?
  • Which organizations match the profile of your ideal job?

6. Identify your competitors

In a business plan:

  • Who is your competition?
  • How do you differentiate yourself from the competition?
  • What are your unique selling points (USPs)?

In a strategic career plan:

  • How do you relate your skills to the competition?
  • How do you differentiate yourself from them?
  • What are your Unique Selling Points (USPs)?

7. Your marketing plan

In a business plan:

  • How do you actually put your product or service onto the market?
  • How do you promote your product or service?
  • What will your marketing plan look like?

In a strategic career plan:

  • What is your plan of action to realize the job you have in mind?
  • Which organizations are you going to approach and how will you do that?

Following Life\Work Design ™ can help you gather the ingredients for your strategic career plan and assist you in implementation. That same plan can also be used as a starting off point for your own business plan.

When you do your BestWork, the sky’s the limit. Whether you want to reach your ideal job or start your own company, Life\Work Design ™ provides you with the tools you need to make your dreams a reality.

Share with a Friend

Call for Coaching

1(800) 333-9003

Read the Latest Posts

Top 5 Challenges Managing Millennials

In one of our previous articles we listed the most common challenges faced by Millennials. In this article we’ll look at the “other side of the equation” revealing the top 5 challenges faced whenmanaging Millennials in the workforce. Millennials became the largest generation in the U.S. labor force in 2016 according to a Pew Research […]

Motivating Millennials at Work – Moving Beyond Biscotti and Bonuses

The problems faced by Millennials are real, and it is leaders’ responsibility to make sure the Millennial generation who will be making up 75 percent of the workforce by 2025, feels more motivated and engaged then ever. When it comes to motivating Millennials at work, the typical approaches of bonus structures and employee perks don’t […]

Millennial Work-Life Balance – Shifting Perspectives and Changing Norms

Millennial work-life balance is much different than previous generations. When we look at the challenges Millennials face as they enter parenthood and take on increasing responsibilities in the workforce, is no surprise that Millennials are taking a different approach to work-life balance. A global study by EY titled Work-life challenges across generations reveals the differences […]