What is Your Strategy?
- August 3, 2020
- Posted by: Philip Struble
- Category: Uncategorized
Have you noticed that all successful businesses have a strategic plan?
A Strategic Plan
A strategic plan for a business begins with the premise that it is to reorganize and reallocate people and resources to increase the rate of return on capital invested in the business.
In other words, a strategic plan is to make sure that all the business’s assets are aligned to increase the ROI.
Even simpler, the strategic plan is to ensure business success.
And, implementing a strategic plan is a time tested and market-tested formula for business success.
So, if having a strategic plan works for businesses (hopefully you have on in your business), why wouldn’t you have a strategic plan for yourself?
What’s Your Strategy?
If having a strategic plan is good for a businesses’ success, it should also be right for your success.
Everyone needs a strategy—not just a general idea of what might happen, but a well-thought-out plan of what will happen.
As an example of the need to always have a plan, imagine it is storming outside. How are you going to get to work?
Chances are you will probably think through which roads may be impassable and how you can avoid traffic congestion. You grab an umbrella and raincoat and strategize how to get from your vehicle to the office door. If you are really thoughtful, the clothing you wear will repel water, won’t be damaged if wet, and is something you can dash from door to door while wearing.
That’s a lot of thinking just for one day of bad weather. But do we give that much consideration to every event in our lives and careers?
Have you thought through how your career may advance? Have you considered how to respond to criticism, compliments, and unwanted advice? What will you do if the industry your in goes through a downturn, upheaval, or boom?
Lay the Foundation for Your Future
Clearly, there are too many scenarios that could transpire to you for you to have a defined plan for every one. But that is no excuse not to have a strategy.
Here are several ideas to consider that will lay the strategic foundation for your future.
- Understand that a strategy is how something gets accomplished. You need to know when an opportunity presents itself and if it is something you want to spend time and energy pursuing.
Think through your chosen profession. Are you willing to change careers or be committed through the market ups and downs in one career path? Keeping all employment options open takes time and energy that detracts from your potential in following a single career path. These choices are your career’s foundation and represent your personal goals, purpose, and vision.
- Depending on your career foundation, what is your strategy to follow those objectives? How will you position yourself to learn of new career opportunities, or gain valuable insights into the job you have? How can you best position yourself with the least amount of expense and time to follow your strategy?
- How can you excel? How do you establish and maintain your reputation? What can you learn to improve your job knowledge, be better respected in your community, be known as a good friend, and be a better spouse?
What is your plan to move from the person you are today, to be the better person you want to be?
- Who can help? Always consider the people you know, or need to know, that can teach you, mentor you, and lead you to attain your aspirations.
For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? Otherwise, when he has laid a foundation and is not able to finish, all who see it begin to mock him, saying, ‘This man began to build and was not able to finish.’
In everything we do, we are to plan for our actions. We are to count the costs and have a strategy to get from the beginning to the end successfully. This is not only for our businesses but also for our careers and personal lives.