Strategic Thinking
Many times someone goes into business so they can “control their
own life.” In reality, unless you understand how to build a
strategic business, you usually end up with less control than you
started with. Instead of having all of the headaches of
ownership on top of getting your “job” done you might as well
stay and work for someone else. At least then you can go home at
the end of the day with a paycheck in hand and not have to worry
about clients, getting new business, paperwork, paying the taxes
and filling out the city, state, and federal forms that pile up.
If you are going to be in business for yourself you might as well
do it right and build an organization that allows you to achieve
what you want and live life the way you desire. Building a
strategic business will allow you to create the value you desire
for your clients and for you and your family as well.
Being successful means balancing short-term projects with a
long-term strategy. In the short-term you need to make sales,
deliver results, and earn the money necessary to keep your doors
open. At the same time you must put on your strategic thinking
hat and think long term about your business, the true value of
what you deliver, who you really want and should be marketing to,
and how to go about building your organization.
The strategic business is based on a thought process that is more
concerned with looking ahead, looking at where you are going, and
how to get there. Even if you already know what services you are
taking to which markets, you will still need a strategy to get
there. Many times when the effort is put forth people discover
that in fact they do not know the right services and products and
they may be off on the best fit of possible markets. Only
through a comprehensive strategic effort can you prove that what
you are doing is right or make the course corrections that you
may need to make.
Strategic thinking is based on three distinct disciplines:
analysis, planning, and implementation. It is critical to devote
time and energy to both analysis and planning so that you can
maintain positive momentum in the implementation phase.
It is common to want to jump right into implementation. We see
someone do something successfully and so we decide to adopt the
same strategy and “go to it.” If you jump right in without the
proper analysis and planning, you are probably in for a few
surprises. What works for someone else may not work for you.
Based on your value system, likes and dislikes, and long-term
goals you may be better served with a different approach to
business then your competitor or friend.
A sound strategic business does not take shortcuts. Rely on the
fact that you must do the proper analysis and spend time planning
if you are going to successfully implement your strategic
mission.
Building a strategic business is a process. It is not an event.
It happens over time. It is a journey to build a strategic
business–your strategic business. You will need to decide that
you’re tired of the old way and that you want to make changes.
If you put forth the energy and work at it, you will be able to
build your business and have the type of successful organization
you’ve always desired. And, somewhere along the way you will
gain control over your personal time as well.
Exercise:
Take a blank sheet of paper and on it list three people whom you
admire. They can be alive or deceased. They can be real of
fictional. For instance three people whom I really admire are my
grandfather, President Lincoln, and the original astronauts.
Once you have your three people, list after each person all of
their personal traits that you admire. For example, for the
original astronauts I have listed that they were brave, mentally
tough, creative, smart, visionary, adventurous, and motivated by
challenges.
Now here is the tough part. Next to each of these
characteristics I want you to put a number from one to ten with
ten being the highest. This number should represent how you see
yourself with regards to this trait.
All buildings are built on a foundation. The stronger the
foundation, the better the building is equipped to last a long
time. Your personal and business foundation is based on your
values. This exercise will help you think about what you admire,
seek, and desire. Once you have this information you will be
ready to look at issues we’ll be discussing in future issues of
this ezine.
The Strategic Business balances the necessities of the present
with the vision of the future and creates a roadmap of how to
close the gap between the two. Now you’re on the road to Building
A Better Biz!
