Erica Olsen’s strategic planning savvy led to authoring a book under the famous Dummies brand.
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While not a household phrase to be sure, strategic planning is certainly an important concept in the world of business, and one woefully neglected by most entrepreneurs.
“You wouldn’t go on a trip without a plan,” says management consultant and author Erica Olsen. “Nor should business owners run a business without a plan. It’s unthinkable.” Such is the essence of Olsen’s new book, “Strategic Planning for Dummies,” a book inspired by her work as a partner in M3 Planning.
To be sure, most businesses have a plan — but it’s in the heads of the company’s key personnel. “Strategic planning makes our business activities more intentional so employees can help you move the business forward,” Olsen says. Fundamentally, people think it’s hard and that it takes too much time.
According to Olsen, a long-time Reno resident, a strategic plan should cut to the chase, unlike the more familiar business plan often prepared solely for banks or investors. A good plan answers the what, when, why, where and how questions, serving as a road map to achieve a specific vision.
Olsen holds a bachelor’s degree in journalism from the University of Nevada, Reno, and a master’s degree from the Thunderbird Graduate School of International Management. She’s frequently tapped to lecture at UNR and the University of Phoenix in Reno on management and planning topics.
Local clientel
Her company powers Web-based planning systems that help organizations develop and manage their strategic plans. Clients include the Economic Development Authority of Western Nevada, Girl Scouts of America, Erlach Computer Consulting and Washoe County.
Olsen says EDAWN is a good example of an organization with a vision and the tenacity to stick to it.
“Our relationship with Erica and her company began about two years ago,” says Gail Conkey, EDAWN’s director of operations. At the outset, Conkey says, Olsen created a strategy map revealing the initiatives and tactics needed to clarify ongoing projects. “It started with people and ended with our core mission. People are a company’s most important asset,” says Conkey. “Sometimes people are forgotten — you can never forget the employees.”
Conkey heartily endorses Olsen’s expertise. “Her ability to look holistically at our organization took us to the next level in terms of achieving our goals.”
A speedy deadline
From strategic planner to first-time author was a serendipitous path, Olsen says. A chance meeting with another Dummies author led to a contract with Wiley Publishing Co., the caveat being that the book needed to be written in just one year. It was a speedy deadline for sure, Olsen says, explaining that turnaround time for this type book generally is much longer.
Nevertheless, the idea became reality; the paperback is available for purchase at various local booksellers including Barnes & Noble, Borders and Amazon.com for $21.99.
While the average first printing is usually 5,000 books, 10,000 copies of “Strategic Planning for Dummies” initially hit the bookshelves. In addition to a $10,000 advance, Olsen gets 12 percent of each book sold.
“It’s a lot of work for not a lot of money,” Olsen. “But it’s not about the money; it’s about the recognition being a published author with a main publishing house brings you.”
Olsen adds that her company recently developed a Web-based strategic planning approach to support the book — mystrategicplan.com. “The book works with the system. It’s easier to put a plan together and execute it if you have technology that supports it,” she says.
Anticipating her readers will include business owners, managers, department heads and non-profit organizations among others, Olsen says anyone who doesn’t have a strategy department will benefit. “Having a strategic plan gets you from A to B faster. It’s all about using the resources you have to be more effective.”
