Recently I participated in a workshop in New York City for consultants who do strategic planning.
Connecting with peers in my field from around the world is one of the best ways to learn and sharpen my skills as a consultant.
Trying to get consultants to agree on a best approach to developing strategy was an interesting and almost futile exercise.
After spending time with other professional colleagues in strategic planning, it’s clear there are many approaches to developing strategy.
What works well for one organization may not be appropriate for another.
How do you develop your business strategy?
Is the strategy clear to you? To others?
If you’re like many executives with whom I work, you want to think and plan strategically, but you’re immersed in day-to-day activities. Strategic thinking takes a back seat.
As one business owner said, “I need to get away from the office just to think!” His market has changed over time. He knows he needs to rethink his vision and business model.
It’s time for him to stop generating tactical ideas that don’t work.
If you want to put strategy back on your radar, here are a few things you can do:
1. Put “STRATEGIC THINKING TIME” on your calendar. Set aside an hour or two — at least once a month — to think about the direction and vision for your business.
Don’t allow yourself to focus on how you will achieve it — just consider new possibilities without ruling them out. No judgment allowed.
2. Increase your brainpower. Schedule an informal “strategy meeting” with a few stakeholders or peers to generate ideas and feedback.
This is not a formal planning session. Instead it’s an opportunity to generate fresh ideas, some of which you may not have considered. Or you can float some ideas of your own.
Do this over coffee or lunch. The experience will likely benefit those who attend as well by triggering ideas for their own business.
Business owners and executives who feel isolated in their role benefit tremendously from this exercise.
3. Cut back on some commitments. Reassess what you really need to be involved in. If you’re not able to focus on strategy as a top priority in your role, where are you spending your time and energy?
Purge projects or activities that don’t align with your highest priorities. Let them go or delegate responsibilities to other people.
Get serious about sharpening your focus!
Strategic Thinking for Business and Life
Strategic thinking benefits your business and your life.
Some leaders have never had the opportunity to learn or practice true strategic thinking. They’ve mastered the art of execution — another critical skill for success.
To start or reactivate your strategic thinking, ask yourself questions like these:
Where do I see my business two years from now?
What’s the driving force for my business?
What do I value most in my business?
What strengths can I leverage in my business?
What patterns am I seeing that will help my business?
What opportunities am I most energized about for my business?
What do I want to be different/better in my business?
(When thinking about your life, simply substitute the word “life” for “business” in the above questions.)
Don’t be too quick to jump into tactics. Allow big picture ideas to simmer long enough so you don’t miss potential opportunities.
Your strategy guides your direction and decision-making.
Give it the time and attention it deserves.