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Jul 23
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Different Strategic Planning Models

By Blogpost

When we think of strategic planning, what comes to mind first is how it is utilised in business. You picture a room with a team of professionals planning their business strategies. But whether we are aware of it or not, strategic planning is something that we are already familiar with. We use it every day in business, or out. What it is, is coming up with a roadmap for the future. It can be as simple as to how to go about your day or as complex as deciding which areas in your business you need to put more focus on. Planning is the most basic thing that we do in our lives. We always want more out of our lives and planning is something that will greatly help us get the things that we want. Without planning and the willpower to execute those plans, goals are just pipe dreams.

As mentioned before, planning is the first step in achieving our goals. It ranges from the very basic to complex depending on the situation. There is no one plan that fits all. For this article, we are going to talk about some of the different strategic planning models that you should know.

Basic Strategic Planning Process Model

As the name states, it is the most basic of its kind. It is usually utilised by new companies or organisations. This is most effective for businesses that have none or minimal strategic planning experience or have a limited time to spend on the planning process. The plan is usually composed of the company’s mission and purpose. It involves identifying which goals to aim for to meet the company mission and which actions to take to reach the goals.

Issue-Based Strategic Planning Model

This is an improved version of the basic model. This is used by companies that want to delve deeper into their strategic planning. This involves SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis, reviewing the company’s mission, developing annual action plans and establishing the budget.

If you have been in the business for some time, then you will be able to review and identify areas that you need to work on, and device a plan according to that.

Alignment Strategic Model

This model focuses on the alignment of the company’s mission and its resources and determining which areas of the business need adjustment to become even more efficient.

As a business owner, especially for a new business, it is okay to dream big, but always consider if your current resources can sustain that dream. You need to be efficient – you do not want to overshoot your budget. You need to develop strategies that will maximise the resources at hand.

Jul 19
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Which Goals to Aim For

By Blogpost

Setting up goals whether personal or business in nature is a must. Goals give you focus, motivation and purpose. And goals come hand in hand with plans. Plans provide you with direction. Even the most laid back person has a goal or two. It is what keeps us going and moving forward. They make life more exciting and interesting. Often, the challenges that come with trying to achieve something and overcoming hurdles in order to reach them keeps us going. Goals push us to keep moving forward. Without goals, we would remain stagnant. Life would be boring.

While having goals bring excitement to our lives, having too many of them can be detrimental. There is only one of you and your time and energy are limited. Working towards too many goals can further divide your focus which can lead to low-quality results – and you get negative feedback plus, it will cost you additional time and energy to backtrack and redo your work. Pick and choose your goals wisely. They should be worth your time and effort. More importantly, they should contribute to the greater picture.

Stick With Your Vision

Re-examine what you want to achieve. What do you really want? Once you have determined what that is, think of how you can achieve it and stick with it. Go for goals that, when achieved, complement the other goals that you have in mind. It might be tempting to go for other goals along the way but you need to consider if they are going to bring you closer to your vision or just divide your focus and attention. Stick with your vision!

Goals That You Can Commit To

List all of the goals that come to mind and pick out the ones that you can really commit to. Consider the different factors like the timeframe and the resources at your disposal. Be realistic, but do not pick goals just because you can achieve them with minimal effort. Goals should provide you with a challenge, but more importantly, you should have the passion to reach them.

Non-conflicting Goals

Business and personal goals are different from each other but they can affect each other. Do not sacrifice one over the other. Pick out goals that do conflict with your other goals. Carefully examine them and if need be, ask for advice from a mentor or someone who has expertise in the field.

Jul 16
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Planning Too Much Is Not Always A Good Thing

By Blogpost

We have always been taught that planning is essential in business as well as in our personal lives. It helps us become more organized with our time and become more productive with our tasks at hand. Plans give us structure and coordination to be able to reach our goals as smoothly as possible. They provide us proper prioritization to accomplish more tasks as efficient as possible. Excellent planning is the core of any successful business. It is the blueprint of all your decisions and actions.

If you break it down, planning is simply about forecasting the future and what actions to take in response. Planning is recommended whether for your business ventures or for personal reasons. But just like everything else, too much of something is not always a good thing and this holds especially true for planning. We can get obsessed with the planning process that it will distract us from actually doing the work. There is a danger that if you focus too much on the planning process it will feel that work is actually being done but the truth is, you are not being productive. This is just one of the reasons why you should take a step back and asses if you are putting in too much time and effort with planning.

Over-Planning Is Procrastination

Taking up too much time to plan is time not being used for the actual work. We should plan accordingly and use most of our time for the actual work involved to execute the plan. As mentioned before, at its core, planning is about forecasting. There are just too many variables that we cannot control and many factors that can change in the future. Not everything has to be planned. Avoid micro-managing every aspect of your business or life.

The Present Is the Only Time You Have Control Over

We are never sure how the future will unfold. You can plan all you want but it does not change the fact that the future is and will always be a mystery. It all boils down to using your time efficiently and there is no best time to use it than in the present. Instead of over-planning, use the time to seize the present moment and make the most out of it.

Overthinking The Future Will Stress You Out

Over-planning will lead to overthinking the future. Overthinking the future will lead to stress. We do not want unnecessary stress. When your mind starts to wander into the future, ask yourself if it is necessary for the present situation. Live within the moment to reduce stress.