5 Myths About Strategic Thinking Slowing Your Business Growth

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Strategic thinking, the thinking process used by the most intentional and successful of Stage II enterprise entrepreneurs is getting a bad rap!  And,  who’s paying the price for it?

You are! The small business owner!

Apparently someone (insert air quotes here) is attempting to sell snake oil on how to think about thinking strategically. After a while, it gums up our business growth. 

 

strategic thinking

 

Myth #1: Strategic Thinking is Only for Big Business

Actually, strategic thinking is for any business looking to take a long-range view of their business and the environment in which it operates. It’s what’s required to make the most of any changes on the horizon.

Applied successfully, strategic thinking helps you better leverage your precious resources of time, talent, and money. With better use of resources comes accelerated forward movement.

Myth #2: Only Certain People are Qualified for Strategic Thinking

The numbers are in — and they aren’t pretty! Chief Executive Magazine reported that only 3 out of every 10 business leaders know how to think strategically.

Don’t let this statistic reinforce the myth. Actually, it points out that few people have been taught this critical business skill. If you’re willing to learn,  you can become a strategic thinker for your business.

Myth #3: I Don’t Have Time to Think Strategically

This is quite prevalent, especially for small businesses. I understand first-hand how difficult it is to pull our heads out of the day-to-day operations, especially once the flurry of our inbox is unleashed.

My dad taught me that if you don’t take the time to do something right the first time, how much time do you have to do it over. That’s a valuable lesson to learn.

High-level thinking encourages the proactive monitoring of your business so you’re not caught off guard by some unnoticed event or trend. Strategic thinking saves you time and money. In the end, it’s what takes the business to the next level. 

Myth #4: Strategic Thinking is a Waste of Time

This myth is particularly poignant for many business owners who escaped the bureaucracy of a corporation in search of their own business.

Having spent hour, upon grueling hour, tied up with multiple people who talked ad infinitum only to use the strategic plan as a doorstop, it’s natural to think it’s a waste of time.

Truthfully, strategic thinking is fast, easy, and very effective when done consistently and correctly. (Be sure to ask us how!)

Myth #5: I Think Strategically All Day

Is it strategic in nature? Does it take your goals into consideration? Is it based on data? Are actionable, corrective actions included in your thinking?

You may be thinking all day but you’re not thinking strategically. In fact, most entrepreneurs spend their day thinking tactically. In reality, you’re thinking about how everything will get done.

Strategic thinking, at the start of your week and/or day, means less thinking (i.e., worrying) about how to get it all done. Strategic thinking clears out the clutter lurking in your mind. It keeps you focused and on track with the activities most meaningful to achieving your dreams.

Do any of these myths sound familiar? If so, rethink your approach to the kind of thinking that ultimately impacts your business.

Strategic thinking is the quickest, most predictable, time-effective skill to achieving business success.

 

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Testimonial

Brooke Billingsley

Vice President
Perception Strategies

Synnovatia is a strategic coaching firm that is detailed and knowledgeable about business. i have a small business that grew from $150K to $750K because of the goal setting and resources that Synnovatia provided. It saves me years of learning on my own.

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