Your business plan is complete, you know why you are in business, what problem you solve, your target market, how to reach it, and you have an idea about your financial needs. Great start. Now the actual work begins as we move the business plan into action.

This is the second of two articles on creating and implementing a business plan. The first article explained how you can "Create a Business Plan in 4 Easy Steps." This article will explore the two levels business owners and C-level executives focus on when they do planning sessions: strategic and tactical.

Strategic is part of the vision, the one you wrote in your business plan. This is where the company is going in five to 10 years, what it will look like in terms of staffing, revenue and customers. It's the long-term road map.

Tactical is closer in time: It's the one- to two-year plan and has more immediate impact. It's a subset of the strategic. It affects the strategic, and its results are a major factor in whether the strategic is truly accurate. Both the strategic and the tactical are the "what" you will accomplish, not the day-to-day "how you will do it." The tactical are the outcomes you want to achieve. We'll get to the operational objectives later.

Let's take a simple example as a metaphor. My five-year strategic plan is to go to Italy, Greece and perhaps Turkey. Year one my tactical plan is to identify all the locations and their related costs. I might also research travel methods. I know what I will have completed at the end of the year.

The tactical plan creates the goals for the first year. The "what" in my plan will be completed by the end of the year because I will use SMART goals to achieve it

Let's write some goals using this formula:

By (date) I will have an exact budget of what the trip will cost if I go for one month or three weeks, including travel, lodging, tours, meals and incidentals.

Now let's move it to the business world:

By (date) the business will generate (gross revenue, net revenue, profit, increased clients, etc.)

By (date) customer satisfaction as measured by surveys will increase from 80 percent to 90 percent.

Now get a piece of paper and write yours. Your business should have five to 10 goals a year. Some may be personal, such as complete a course, or get a specific license or certification. 

Now that you have your goals, post them everywhere; ideally, you'll see them and think about them daily.

Create Your Objectives
There is one more crucial step. The goals are "what" you plan to accomplish. Now you need the "how." These are the objectives.

Monthly or quarterly you will have tasks that must be completed in order to achieve the goals. This is where you address the processes, strategies, people and other influences to determine what is working and what needs to be adjusted or changed.

For example, if my goal is to increase gross revenue, I have to look at my sales, my support structure and everything I have that could help or hinder. That's why the next major step as I do my objectives is a SWOT analysis. That stands for strengths, weaknesses, opportunities and threats. Strengths and weaknesses refer to inside the business. Or, if you are the business, they refer to you. Opportunities are outside the business and what you can capitalize on. Threats are also outside; you have no control over them, but you have to adjust because of them.

They fit four categories I dub PEST, which stands for political, economic, sociological and technical. The political and economic are the most common, but the sociological refers to everything from generational issues to diversity and immigrant issues. Technical is a major factor today with major advances happening every 12 to 18 months. What, you don't Twitter? You get the idea. So how do you deal with all of this? You do the analysis first. Divide another sheet of paper into quarters. Here's how to fill it in:

Step 1, Strengths.
List your strengths and those of your company, including your employees. This may also be done for you as an individual, but for now focus on the business: knowledge, specific resources, network, capital and product placement.

Step 2, Weaknesses.
List your weaknesses and those of the company. This might include lack of staff or training, lack of equipment and, yes, lack of revenue. For example: undercapitalized, not experienced in new equipment, overworked staff, not enough staff.

Step 3, Opportunities.
What opportunities are out there? Are there new product lines or networking or collaboration? Can you capitalize on the "green" movement? Do you have a new business idea?

Step 4, Threats.
What are the threats? Yes, one of them is the economy. But many successful businesses start in a down economy and have done so in the past. Do you have a new competitor? Are taxes and health care an issue? What about business regulations? Do you rely on immigrant workers? Is your staff aging? Are you having problems hiring staff?

Now the question becomes what can you do to convert the threats to strengths and how will that conversion enable you to capitalize on the opportunities?

Monthly Objectives/Mini Goals
Often people write down their goals, then forget about them. Never do that. Look at your goals at least weekly, if not daily. Post them. Post the SWOT. This is what you want to accomplish.

Monthly you will create the "to do" list that is the "how" you will accomplish the goals. These are the monthly actions you must do to achieve the year-end. They could include review target market, attend network meetings, create an advertising campaign or hire a new person. These are the tasks that must be done to move weaknesses to strengths, capitalize on opportunities and avoid severe threats.

Feeling overwhelmed? Take it one step at a time. And stay tuned for the next article on how you manage the time you have for work and set priorities

Harriet Cohen is founder and president of Training Solutions, a consulting firm that helps individuals and organizations achieve their business goals.