Strategy is about thinking. Planning is about doing.
We are in the season of thinking about the future. This article from Graham Kenny hits on several important topics to help you differentiate yourself from your competitors.
- Separate your operational plans from your strategic plans. Every year, I walk my clients through a rolling three-year planning process focused on financial targets and the activities they need to strengthen or add to continue to make their offering the de facto choice for their core customers.
- Strategy is an evolving process. Thinking about how trends like technology, demographics, etc. will impact your offering as well as what internal and external factors to keep in mind are essential to a great strategic process.
- Insight is key to improving strategy. The “aha” moment. Looking at things with a beginner’s mindset. Getting out of the office to see and experience the struggles your customers are experiencing. All of these can impact new and innovative ways to shape your products and services.
Mr. Kenny offers more detail in his HBR article – Strategic Planning should be a Strategic Exercise.
IMPORTANT – I am taking on two more new clients in the coming year. Please contact me if you would like to learn how I help my clients create a unique and compelling strategy.
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