Six Strategic Planning Obstacles
Every business needs vision—a clear definition of what you would like your business to become in the future. You need a set strategy for your business, a defined focus, and a plan of how your business is going to reach its vision.
What you sell, to whom, for how much, and what you promise are all key elements to your company’s strategy. It points your business in the direction you want it to go. Once you have your vision firmly established and removed all deviations from you core business, it is time for the next step—strategic planning. Strategic planning is the process of breaking down the specifics, like detailing short-term plans that will help you know what to do on a month-to-month/day-to-day basis.
Can you imagine what happens when you have a short-term plan to get through a busy season, but no long-term strategic plan to tie it all together? You end up in chaos and repetitive wheel-spinning with little to no progress. That is why I want to share with you the six obstacles you must overcome to build the business of your dreams.
1. Operations Controlling Your Days
This happens when most of your time is spent putting out fires; therefore, you don’t have time to strategically plan. Those who are successful make the time, take the classes, and have an eye fixed on their business’s future. Delegating more of the day-to-day operational tasks to your team can free you up to do the strategic thinking, which is usually something that only you, the owner/manager, can do. A great time to do such planning would be at the Strategic Planning class in Sarasota on August 6 to 9, 2012. This time away from your office could be the positive tipping point that leads your business to greater sustainability.
2. Things Are Good
Don’t get too complacent! A common short fall is getting lazy and happy thinking things will not change. Don’t become complacent when things are going fine. Many end up in a reactive mode when things do change instead of staying proactive because they have not properly planned or evaluated their strategy. Most people do not plan properly under duress. You need to plan with a clear head—with time to rethink and adjust your plan when the pressure is off. Don’t be one of those companies that wait until a crisis kicks you in the fanny to kick-start your strategic planning due to necessity.
3. Blurry, Unshared Vision
Despite the time your team spends with you and each other, it may surprise you how different their vision of what the company should be and will be is, as well as how they see their future within your company. Everyone sees the company’s future from their own perspective. It is your job to repeatedly communicate your company’s vision and strategy to your employees so everyone is on the same page and can give you the support needed to achieve the vision.
4. Planning Once A Year & Too Late
New Year’s is typically when many start thinking about the next year. Strategic planning is not something that should be left to the last minute nor should it be done once a year. Today’s business environment simply is not predictable enough to allow you to only plan your businesses success annually. I recommend once you have developed your strategic plan (completed by October 31st) be flexible to making periodic changes throughout the year. Don’t get me wrong—you need to create a set annual plan. I’m suggesting you review your progress and adjust your strategy to achieve your plan as needed.
5. Wasting Time on Detailed Long-Term Plans
You need to develop a five-year plan to guide all of your annual planning. Understand what you want the business to look like after those five years. Write it down and use it to take advantage of opportunities that arise that will help you get to that end goal. However, you need to appreciate that circumstances can change greatly year-to-year. Don’t fall into a trap of trying to fine-tune details of what will happen three, four, and five years from now.
6. Don’t Know How to Properly Plan Strategically
When developing your business strategy, be creative and explore all possibilities. Unfortunately, your office isn’t the best place for the type of concentration needed due to distractions. But with the right guidance, a sufficient amount of time, and an interruption-free environment, you can develop the perfect plan for your business.
When you have a strong long-term plan created, you will be able to enjoy the gratification that comes with knowing exactly what you’re striving for and how you are going to get there. In the end, you will come to work with greater purpose, feel more balanced, be more focused, and have greater control of your future.