How Do I Develop My Strategy?
Plan For The Bigger Picture & Long-Term Growth
Assess where you want your business to be and work backwards. Don't plan incrementally from your current position forward. Identify one core aim or vision for the next 1-3 years. Then break that single goal down into no more than 5 objectives you have to complete to achieve your vision.
Take those 5 objectives and create an action plan for each objective that breaks down every single task that you need to complete for those objectives. This will provide you a clear blueprint for growth, starting with the destination first.
Use Action Plans To Stay Focused & On Point At All Times
Once you have an overall strategy, take your action plans and allocate every task to an individual in your business who will be responsible and accountable to that task, with a timescale for completion. Create and review action plans with everyone involved to be transparent in the journey you are taking. This creates continuous accountability and social pressure - increasing productivity that aligns to your vision. Review your action plans weekly and quarterly.
Adopt a S.M.A.R.T Approach To Your Business
Do not try and complete your strategy all at once. Be conscious your business is a long-term investment and the journey is just as important as the destination. Be SMART in your planning, reviewing and delivery - Specific, Measurable, Achievable, Realistic and Timely.
Use A Business Coach
Business coaching can have fantastic results on your ability to plan, review and be accountable to your vision and overall business. They will work with you to identify a SMART route towards your goals and will support you to achieve them. A Business Coach will push you and your business to grow, help you to develop your skills and overcome challenges.
Know That Every Plan & Strategy Will Change
Become familiar with managing change in your business in a responsive manner, rather than as a reaction after a situation has arisen. If a new challenge or opportunity is presented within your business, re-assess your strategies, objectives and action plans and plan for imminent change. Keep fluid and look for opportunities, not barriers. This approach will help your business become lean and proactive while continuously strengthening its foundation.
The most important aspect to any strategy is your ability to evaluate progress, review outcomes and adjust your strategy to accommodate changes, lessons, opportunities and threats. No strategy is ever set in stone, doing so will create a very rigid business that struggles to respond proactively to change.
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