As entrepreneurs, we’re pulled in a million different directions every day. Although we start our days with the best of intention, it’s easy to get pulled off course with emergencies (caused by others) putting out fires (created by others) and shiny objects (marketed by others.) And, even a small course deviation, can change the course of your business over a period of time.
Learn how to grow strategically
As the business owner, your primary job is planning and change which requires a disciplined way to think, plan, act – and rethink and replan every day. This is strategic thinking.
According to Chief Executive Magazine, strategic thinking is the most valued skill for entrepreneurs today yet only 3 out of every 10 entrepreneurs actually think strategically.
Not every entrepreneur is endowed with the gift of strategic thinking however there are several steps you can take to ensure you put your business on a strategic path each and every day.
1. Begin with the end in mind – To understand where you’re headed, consider these questions:
Why are you in business?
What do you do?
What do you want to achieve?
How will you get there?
These questions, and many more, are answered with the creation of your mission, vision, strategies, objectives and goals – or your strategic plan.
2. Think – and act – strategically everyday.
Did you know that 85% of entrepreneurs spend an hour or less a month strategic thinking? Given your primary responsibility being that of planning and change, carving out time for strategic thinking, planning and acting is vitally important. Strategic thinking and planning is even more important knowing 80% of most activities that entrepreneurs are involved in each day contribute to only 20% of the business long-term values. The use of a daily goal planner gives you new insights and concrete steps for improvement.
3. Constantly question your own opinion.
We all develop blind spots that can prevent us from taking full advantage of new developments in our industry. By not questioning on our thoughts/opinions – or always believing we’re right – we can destroy our business no matter how talented or brilliant we are.
Once you add these three actionable steps to your daily to-do list, strategic thinking becomes a daily habit and, along with it, business growth.