As a business leader do you find yourself tending to focus on all of the threats to your business – If yes, then, you’re not alone.
The business leaders that I work with are feeling the pressure – it’s hard to find any certainty – so it’s not surprising that leaders are less inclined to think about forward planning.
Some are hoping for a miracle?
Others focus on operational flexibility, opportunism and generally keeping their options open.
And some simply think that planning is impossible because the future is simply too unpredictable.
So here’s what I think…
Yes it’s true, planning in the current context isn’t easy, but everywhere I turn I see people who have made the decision to plan for the future and I’m seeing the positive results it’s bringing.
Of course, timetables have to be revised, strategies adjusted and budgets recalculated. But I’ve been heartened by those business leaders who, despite the tough going, have not given up on their dreams.
And I’ve also noticed that the leaders that are planning tend to focus on these 5 key areas:
Position – Clarity about market position helps to make sense of business opportunities and alternatives. Few businesses succeed without a clear sense of where they are now and where they’re headed.
Leadership – Strong leadership is a big deal for every business from a sole trader to a multi-billion dollar corporation because, without it the business is simply on a treadmill and in tough times a “run faster” approach doesn’t equal forward movement.
Growth – The impact of the pandemic and recession hasn’t reduced importance of focusing on growth, it’s only changed the amount and pace. And while it hasn’t been any easier, there are opportunities around. Otherwise, what’s the alternative?
Operations – Many businesses have toned up, cut overheads and improved cash flow to bolster productivity and profitability. It’s meant tough and often painful decisions, but yet they have aimed to balance pragmatism with compassion for people.
Transformation – The current climate has forced many to rethink their products or services at least in the short term. For most businesses the primary challenge is realising that they have within them the imagination and creativity to come up with brilliant ideas.
What does this mean for you?
Well my question is – What’s your approach? Do you think strategic planning is dead?