Coach's Casebook

Strategic Planning

Strategic Planning

There are lots of books written on the importance of strategy and how to craft one.  This gives it the air of being complex and difficult.  There is also an association of the word strategy with the military which can also be off putting to some people.

Strategy is however, not scary, not difficult and will help you guide your enterprise or project to a successful conclusion.

Strategy is important because:

  • It helps you guide the direction of the enterprise towards the goals you have set.
  • It allows you to reduce time spent on the big decisions so you can focus in the day to day issues.
  • It can help you reduce the number of mistakes you make, saving both time and money.
  • It will also help you adjust your business to respond to and take advantage of any market trends.

To develop a strategy, you will need to ask yourself a few simple questions:

  • Where am I starting from?
  • Where do I want to go?
  • What is my route to get there?
  • How do i stay on course?
  • Can I make money at it?
  • Is it sustainable?
  • What helps me?
  • What stops me?
  • Who else is doing it?
  • How am I going to get there?

To implement your strategy, you will need to take big concepts and turn them into a plan and series of actions.

Here are a few points to consider:

  • Set aside time to implement the strategy and turn it into actions.
  • Prioritise and schedule the tasks.
  • Ensure your goals are both medium and long term.
  • Be clear on who can and will do the tasks.
  • Allocate your resources to where you will get the most effective return.
  • Ensure that you have cash flow to cover the costs of your strategy.

Take time to get the strategy right and let your business thrive.

Dare to Aspire

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